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No Sri Lankans among rescued from stricken refugee boat: foreign ministry
June 22, 2012 (LBO) – There were no Sri Lankans among more than 110 people rescued from a capsized refugee boat by Australian authorities, the foreign ministry said. Australian and Indonesian authorities are continuing to search for around 90 other still believed missing from the boat, the foreign ministry said. Sri Lanka’s foreign ministry said […]
Millions of Bangladeshi apparel workers need bank accounts: IFC
June 22, 2012 (LBO) – International Finance Corporation, a member World Bank arm has said 86 percent of three million apparel sector workers in Bangladesh did not have bank accounts, potentially opening up a large new market for banks. “This report shows that there is a considerable opportunity in offering a range of financial services […]
‘s NDB Bank undecided on Aviva unit: official
June 22, 2012(LBO) – Sri Lanka’s NDB Bank Plc, has not a made a decision to buyout their partner or exit a joint venture insurance unit with Britain’s Aviva, which reports said is on the block as part of a retreat from Asian markets. NDB Group’s Chief Executive, Russell de Mel said if Aviva’s stake […]
Sri Lanka Cricket seeks new clothing partner after Reebok deal falls through
June 22, 2012 (LBO) – Sri Lanka Cricket has sought a new clothing partner, after India’s Rebook failed to renew the contract when the tender was awarded this month, a statement said. The governing body this month announced multi-million rupee contracts for clothing, soft drinks, energy drinks and food to a number of Sri Lankan […]
Sri Lanka banking system well capitalized, solid: officials
June 22, 2012 (LBO) – Sri Lanka’s banking system is sound and well capitalized officials said, though bad loans have started to pick up slightly as a developing credit bubble was rudely jerked to a halt by the island’s dollar peg. Data published by the Central Bank show that bad loans which peaked at 8. […]
Sri Lanka selects Bank of America, Citi, HSBC, Barclays to sell sovereign bond
June 21, 2012 (LBO) – Sri Lanka has selected Bank of America, Citi, HSBC and Barclays Capital to sell sovereign bond of up to a billion US dollars this year, the Central Bank which raises debt for the Treasury said. In October, Sri Lanka’s maiden 500 million US dollar sovereign bond is maturing. State-run Peoples’ […]
Sri Lanka stocks close down 0.7-pct
June 21, 2012 (LBO) – Sri Lanka stocks fell 0. 7 percent Thursday ending losing some of the gains made earlier in the week, while the rupee was steady against the US dollar, brokers said. The main All Share Price Index fell 0. 71 percent (35.99) to 5,042.07, while the more liquid Milanka index closed […]
Bank Soundness
June 21, 2012 (LBO) – Sri Lanka’s banking sector did not face high risks as assessed by Standard & Poor’s, the island’s Central Bank said in a detailed response to the rating agency’s ranking of Sri Lanka as a high risk economy for banks. The Central Bank said S & P’s statement was “is factually […]
Conflict Debate
June 21, 2012 (LBO) – Sri Lanka’s Central Bank has denied that there was a regulatory conflict where a fund under its control bought bank stocks it regulated, following concerns raised by Standard and Poor’s, a rating agency. S & P said there were regulatory conflicts because the Monetary Board or the governing body of […]
Sri Lanka Vietnam trade up 80-pct in first quarter
June 21, 2012 (LBO) – Trade between Sri Lanka and Vietnam had expanded 81 percent to 27. 6 million US dollars in the first quarter of 2012 from a year earlier, with a steep increase in Sri Lankan exports, a business association said. Mahesha Ranasoma, managing director, Dipped Products Plc was elected president of the […]
Sri Lanka refugee boat capsizes off Australian island: report
June 21, 2012 (LBO) – A boat believed to have 200 people from Sri Lanka has capsized of Australia’s remote Christmas Island which reports day could become one of the worst refugee disasters in the country. Australia, a country of immigrants has tightened immigration barriers in recent years and followed a controversial policy of detaining […]
Sri Lanka Treasuries yields up
June 20, 2012 (LBO) – Sri Lanka’s Treasuries yields rose across maturities with 6-month bill picking up the most at Wednesday’s auction, data released by the state debt office showed. The 3-month yield rose 09 basis points to 11. 04 percent, the 6-month yield rose 18 basis points to 12.47 percent and the 12-month yield […]