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”AA(lka) rated bonds
Sept 20, 2012 (LBO) – A five year subordinated bond sale by state-run Bank of Ceylon’s of up to 6 billion rupees has been rated ‘AA(lka)’ one notch below the entity’s national rating of ‘AA+(lka)’, Fitch Ratings said. The bonds will be used to boost the bank’s Tier II capital base. Fitch said Bank of […]
Sri Lanka central bank says issues guidelines to bank forex dealers
Sept 20, 2012 (LBO) – Sri Lanka’s Central Bank said it had issued a direction under the country’s banking law improve “the standard of business conduct and good market practices” on foreign exchange trading activities of licensed commercial banks. However some of the more extreme controls have been relaxed over the past three decades. “The […]
Sri Lanka stocks closed up 0.90 pct
September 20, 2012 (LBO) Sri Lanka stocks recovered losses and closed up 0.90 percent Thursday. The Colombo All Share Index closed at 5,901.97 up 52.83 points and the S & P SL 20 Index closed 27.97 higher at 3,169.61 up 0.89 percent. Turnover was 941 million rupees. Dialog Axiata dominated the day’s turnover with 81 […]
Supported Rating
Sept 20, 2012 (LBO) – An ‘A-(lka)’ rating of Sri Lanka’s Seylan Bank, the island’s sixth largest bank has been confirmed by Fitch Ratings with a stable outlook on expectations of state support. “Seylan’s rating reflects Fitch’s expectations of support from the State of Sri Lanka if required, given the bank’s systemic importance,” the rating […]
India diesel price hike to cut subsidy by Rs200billion
Sept 20, 2012 (LBO) – A 12 percent or five Indian rupees per litre hike in diesel in prices in will reduce India’s subsidy cost by 200 billion rupees in the year to March 2013, Standard and Poors’ said. India has also rationed the issue of subsidized liquefied petroleum gas to six 14.2 kilogram cylinders […]
Sri Lanka state carrier opens sales office in Hambantota
Sept 20, 2012 (LBO) – State-run SriLankan Airlines said it is opening a sales office in Hambantota in the island’s south. Classic Travel (Pvt) Ltd, a fully owned unit of Sri Lanka’s Expolanka Holdings operate the agency office at No 30, Wilmot Street, Hambantota. .
India to relax garment import quota from Sri Lanka
Sept 20, 2012 (LBO) – India will increase a garment import quota by three million pieces a year to eight million without a sourcing requirement being imposed on Sri Lanka, the island’s industry ministry said citing a statement by a visiting Indian official. India and Sri Lanka has a free trade agreement through which nationalist […]
US deplores insults to religious beliefs, violence in the name of religion
September 20, 2012 (LBO) – The United States Thursday reiterated that it had nothing to do with an anti Islam film that sparked violent protests by Muslim hardliners across the globe and cost the lives of US embassy staff including that of the ambassador in Libya. “It should be noted that the United States strongly […]
Kero Trend
Sept 20, 2012 (LBO) – Sri Lanka’s kerosene sales have come down after a price hike in February that reduced a subsidy given by tax payers, while highly taxed petrol sales continue to grow, official data show. Data released by the Central Bank shows that kerosene sales fell 26. 7 percent in June to 11,000 […]
Sri Lanka Treasuries yields fall
Sept 19, 2012 (LBO) – Sri Lanka’s Treasuries yields fell across maturities at Wednesday’s auction with the six month yield falling the most by 21 basis points to 12.91 percent, data from the state debt office showed. Earlier in the day the rupee was quoted as strong as 131.30/60 to the US dollar. The debt […]