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HSBC, Citi, Barclays to handle $1 bln Sri Lanka NSB bond sale

HSBC, Citi, Barclays to handle $1 bln Sri Lanka NSB bond sale

      (Reuters)  Citibank and Barclays will be the lead managers for an international bond sale of up to $1 billion for Sri Lanka’s state-owned National Savings Bank (NSB), sources said on Wednesday. One of four sources with knowledge of the deal said the …

Key political risks to watch in Sri Lanka

Key political risks to watch in Sri Lanka

       (Reuters) –  President Mahinda Rajapaksa is under fire from the U.N. Human Rights Council, which last year adopted a United States-sponsored resolution demanding that Sri Lanka ensure government troops who committed war crimes during the final stages of its war against Tamil rebels …

Halal logo withdrawn from local products

Halal logo withdrawn from local products

      Sri Lankan authorities and clergy said today that they had decided to withdraw the Halal logo from food products sold locally as a result of tensions which arose in the country recently over the issue. Addressing a joint media briefing, the All Ceylon …

Commonwealth Business Forum 2013 to be held in Sri Lanka in Nov

Commonwealth Business Forum 2013 to be held in Sri Lanka in Nov

     The Commonwealth Business Forum (CBF) 2013 to be held in the Sri Lankan capital in November will bring investment opportunities to the island, the Chairman of the Commonwealth Business Council, Dr. Mohan Kaul said. It will take place in Colombo, Sri Lanka on 12-14 …

Sri Lankan Airlines hopes to break even by 2015/16

Sri Lankan Airlines hopes to break even by 2015/16

     Sri Lanka’s national carrier, Sri Lankan Airlines has indicated to the parliamentary Committee on Public Enterprises (COPE) that it was facing significant financial losses. United National Party (UNP) …

Exxon, Total Study Sri Lanka Oil Reserves Ahead of Biggest Sale

Exxon, Total Study Sri Lanka Oil Reserves Ahead of Biggest Sale

     Exxon Mobil Corp. (XOM) and Total SA (FP) are among explorers reviewing Sri Lanka’s oil and natural gas reserves ahead of the biggest auction of blocks planned by a nation that imports all its crude. Exxon Mobil, the world’s largest oil company by …

Banks to raise a US $ 1 billion bond

Banks to raise a US $ 1 billion bond

         According to a research report by JP Morgan, Sri Lanka’s National Savings Bank (NSB), is expected to raise a US $ 1 billion bond to fulfill Government funding needs with several other private banks to follow suit, as the government is …

Lanka’s credit risk profile at risk

Lanka’s credit risk profile at risk

      Economic think tank the Pathfinder Foundation says the absence of an IMF programme would affect the country’s credit risk profile and make macroeconomic management difficult. It warns against Central Bank money printing and the crowding out of the private sector as the …

Negligence led to amputation of Achala’s hand

Negligence led to amputation of Achala’s hand

          The committee appointed by the Health Ministry to inquire into the amputation of the arm of Achala Priyadarshini in its report has found that negligence …

Sri Lanka will grow at 6.25 pc in 2013: IMF

Sri Lanka will grow at 6.25 pc in 2013: IMF

        The International Monetary Fund (IMF) has projected Sri Lanka’s growth rate at around 6.25 per cent this year, observing that the country has achieved notable progress on a number of economic fronts over the past few years. Sri Lanka’s estimated growth …