All Blogs
Collaborative Net
Jan 09, 2013 (LBO) – Sri Lanka’s MAS Holdings has adopted a system provided by MillenniumIT and Dialog Axiata for internal communications for its plants and design centres in 41 locations in 10 countries. MillenniumIT, a unit of the London Stock Exchange group said the Microsoft Lync Server based system hosted by Dialog will allow […]
Sri Lanka gilt yields up in secondary trading
Jan 08, 2013 (LBO) – Sri Lanka government bond yields has picked up after falling steeply over two days ahead of a large bond auction, dealers said.A bond maturing on 15 July 2017 opened around 10.70/80 percent Monday and closed at around 11.00/11.10 percent, dealer said. A bond maturing on 15 August 2018 also opened […]
Ship Call
Jan 08, 2013 (LBO) – A call by a car carrier belonging to Japan’s K-Line, at Sri Lanka’s Colombo port this week is expected to lead to further business in transshipment from the shipping line, officials said.Wickrama had said 200 million dollars had been spent in upgrading container handling facilities in Colombo to boost productivity […]
Deposit Target
Jan 08, 2013 (LBO) – Sri Lanka’s state-run Bank of Ceylon, the country’s largest commercial bank by assets is aiming for a trillion rupees in deposits, newly appointed general manager D M Gunasekara said.Gunasekara had been with the Bank of Ceylon for 29 years and had worked in corporate, retail, international and off-shore operations of […]
Court Decision
Jan 08, 2013 (LBO) – Sri Lanka’s court of appeal has quashed the findings of a parliamentary committee against Chief Justice Shirani Bandaranayake where lawyers said she was not accorded due process and principles of natural justice. Sri Lanka’s Supreme Court has earlier said the parliamentary committee was unconstitutional. Sri Lanka’s Parliament is due to […]
Sri Lanka Ceylease on upgrade track: Fitch
Jan 07, 2013 (LBO) – Sri Lanka’s Ceylease Ltd rated ‘BB+(lka)’ has been put on positive rating watch pending a merger with MCSL Financial Services Limited, which is rated a notch higher at ‘BBB(lka)’. “Fitch will upgrade CL’s rating to align with MFSL’s rating upon the conclusion of the merger,” the rating agency said in […]
Sri Lanka foreign holder ceiling on gilts to stay: CB Governor
Jan 07, 2013 (LBO) – Sri Lanka is keeping a ceiling on foreign holdings of Treasuries at 12.5 percent of outstanding for 2013, Central Bank Governor Nivard Cabraal said.Rupee bonds sold in the secondary market are cleared through the domestic monetary base, putting pressure on the domestic credit and through that on the exchange rate […]
Sri Lanka wants exports before steep currency appreciation: Treasury Secretary
Jan 07, 2013 (LBO) – Sri Lanka would like to see stronger exports, and less imports before an “un-necessarily” appreciation of the exchange rate, Treasury Secretary P B Jayasundera said.Sri Lanka’s rupee has depreciated ever since a money printing central bank capable to sterilizing foreign exchange sales and monetizing debt generally was built in 1951 […]
Funding Line
Jan 07, 2013 (LBO) – Sri Lanka’s LOLC Micro Credit Ltd, said it had syndicated a 55.5 million US dollar from a number of foreign development agencies. FMO (Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V.), of the Netherlands had lead arranged the deal. FMO is a 20 percent shareholder of LOLC Micro Credit. FMO (Nederlandse Financierings-Maatschappij voor […]
Sri Lanka parliament to vote on chief justice impeachment
Jan 07, 2013 (LBO) – Sri Lanka’s parliament will vote on the impeachment of chief justice Shirani Bandaranayake on January 11 after a two day debate, the state information office said, despite a court order nullifying the findings of a parliamentary committee.The parliamentary committee from which the opposition out had not accorded due process to […]