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Cricket: Dilshan, Sangakkara lift Sri Lanka to series win
PALLEKELE, July 28, 2013 (AFP) – Tillakaratne Dilshan and Kumar Sangakkara pulverised South Africa’s bowling as Sri Lanka took a decisive 3-1 lead in the one-day series with an eight-wicket victory in Pallekele on Sunday.Amla, batting for the first time in the series after being injured while fielding in the only other game he played, […]
Sri Lanka FDI flows reach $430mn in first half 2013
July 29, 2013 (LBO) – Foreign direct investment flows to Sri Lanka in the first half of 2013 reached 430 million US dollars and the full year was expected to bring 2.0 billion US dollars, investment promotion minister Lakshman Abeywardena said. The money had come mainly from Chinese and Hong Kong based companies with top […]
Personal Travel
July 28, 2013 (LBO) – Scooters are becoming more popular in Sri Lanka making up about a third of all two-wheelers sold in the country now, the agents for India’s Mahindra group said at the launch of new models.Sri Lankan citizens who could not afford a car were buying up to 24,000 two-wheelers a month […]
Refinance
July 27, 2013 (LBO) – Sri Lanka’s Nations Trust Bank has signed up a 15 million dollar credit to lend to small and medium enterprises, especially those in former war zones and tsunami hit areas, the Asian Development Bank said. About 20 percent of the facility will target women borrowers. The loans will be given […]
Detentions
JAKARTA, July 27, 2013 (AFP) – Police detained four Indonesians allegedly involved in arranging an Australian-bound refugee boat which sank earlier this week, killing at least 15 people, a local police official said Saturday.The four men were arrested on Wednesday and Thursday in two nearby cities after the boat sank off the southwestern coast of […]
Mobile Hit
WASHINGTON, July 27, 2013 (AFP) – With the shift to mobile Internet gaining pace, some of the big tech firms are adapting and others are not.“Its products are no longer cutting edge,” he said.“It has failed to introduce sufficiently innovative product updates and services frequently enough (or) expand its limited product range.” He added that […]
South Africa win to stay alive in Sri Lanka cricket series
PALLEKELE, July 26, 2013 (AFP) – David Miller and Lonwabo Tsotsobe played key roles as South Africa stunned hosts Sri Lanka by 56 runs in the third one-dayer in Pallekele on Friday to stay afloat in the five-match series.Miller plundered a robust 85 not out off 72 balls to steer South Africa to 223-7 after […]
Many Sri Lanka state agency accounts disclaimed by auditors: COPE report
July 26, 2013 (LBO) – Accounts of 18 state enterprises and agencies had been disclaimed by auditors, while another 04 had adverse opinions, some for two years running, while some others had not even submitted annual reports, a parliamentary report said. An adverse audit opinion refers to an occasion when an auditor finds enough information […]
Sri Lanka stocks close up 0.2-pct
July 26, 2013 (LBO) – Sri Lanka’s stocks closed up 0.23 percent on Friday with large cap stocks and some banking stocks showing gains, brokers said. C T Holdings contributed most to the index closing at 144.90 rupees up 8.70 rupees. John Keells Holdings closed at 268.00 up 1.00 rupee and Nestle Lanka closed at […]
Punishment Cap
July 26, 2013 (LBO) – Sri Lanka’s central bank has capped the penalty interests on defaulted loans of banks to two percent a year and those from leasing and finance companies to three percent a year.The regulator said at the moment penalty rates on overdue advances range from 2 to 20 percent above the original […]
Growth Strategy
July 26, 2013 (LBO) – Standard Chartered Bank views Sri Lanka positively and is looking to grow its business with a strategic decision to expand in the island, a top official said.This week Standard Chartered Sri Lanka took part in a 200 million US dollar syndicated loan to state-run Bank of Ceylon. “For a long […]
Sri Lanka Cinnamon Lakeside, revenues, profits down in June
July 26, 2013 (LBO) – Profits at Sri Lanka’s Trans Asia Hotels, owners of Colombo’s 5-star Cinnamon Lakeside fell 23 percent to 121.5 million rupees in the June 2013 quarter from a year earlier, interim accounts showed.The firm, a unit of John Keells Holdings, reported earnings of 61 cents per share for the quarter. Revenues […]