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Sri Lanka stocks close one percent lower
Sept 19, 2012 (LBO – Sri Lanka stocks extended losses closing 1.04 percent lower Wednesday, as investors took profits from steep recent gains, while a newly listed finance company stock hit a new high, brokers said. Many other stocks however lost ground for the second day as investors took profits after recent steep gains. Abans […]
Bank Rating
Sept 20, 2012 (LBO) – RAM Ratings has confirmed an ‘AAA’ long term and ‘P1’ short term rating of Sri Lanka’s Standard Chartered Bank branch, with a stable outlook. The full statement is reproduced below: RAM Ratings Lanka reaffirms AAA/P1 rating to Standard Chartered Bank-Sri Lanka branch RAM Ratings Lanka has reaffirmed the respective long- […]
‘s Janashakthi Insurance targets 15-pct top line growth
Sept 19, 2012 (LBO) – Sri Lanka’s Janashakthi Insurance, which marks 18 years of operations in September, is expecting revenues to grow 15 percent to 8. 0 billion rupees in 2012, managing director Prakash Schaffter said. In the six months to June, gross written premium grew 14 percent to 3. 8 billion rupees. The composite […]
Sri Lanka raids fake ICC T20 cricket clothing stores
COLOMBO, Sept 19, 2012 (AFP) – Sri Lanka’s police raided a factory turning out counterfeit ICC World Twenty20 T-shirts and seized stocks of spurious merchandise, a senior officer said Wednesday. Deputy Inspector-General Anura Senanayake said they carried out the crackdown on fake World Twenty20 merchandise following a complaint from the International Cricket Council (ICC) over […]
Sri Lanka pushes up food prices to increase farmer profits
Sept 19, 2012 (LBO) – Sri Lanka has pushed up food prices of the people to provide greater profits to the farming lobby, while another tax on canned fish has also been raised, a notice published by the finance ministry said. The finance ministry said a tax on potatoes has been raised by 30 rupees […]
Sri Lanka stocks down 0.98 pct
Sept 18, 2012 (LBO) – Sri Lanka stocks closed down 0.98 percent Tuesday, taking a breather from steady gains made over several days. The benchmark Colombo All Share Price Index dropped 58.28 points to close at 5,9110.81 down 0.98 percent and the S&P SL 20 index closed down 1.03 percent at 3,177.73 points up 32.97 […]
Sri Lanka destination promotion during Twenty20 cricket series
Sept 18, 2012 (LBO) – Sri Lanka’s tourism promotion office said it will promote the Indian Ocean Island during a cricket series in a deal struck with the governing body of the popular fast version of the sport watched by millions of fans around the world. Sri Lanka Tourism Promotion Bureau will be the official […]
Tele Expansion
Sept 18, 2012 (LBO) – Mobitel, a unit of Sri Lanka Telecom, the island’s largest telecom group has signed a 40 million US dollar deal with China’s ZTE to build base stations, and Huawei, another Chinese firm to expand network capacity. Huawei said in a statement that it had inked a deal to renovate and […]
Sri Lanka keeps policy rates unchanged, says credit slowing
Sept 18, 2012 (LBO) – Sri Lanka’s Central Bank kept its key policy rate at which money is injected to the economy at 9. 75 percent saying credit was slowing and balance of payments pressure and inflation was easing. The central bank said average monthly bank credit volumes had fallen to about 27 billion rupees […]
Sri Lanka sells US$121mn in 3-year bonds
Sept 17, 2012 (LBO) – Sri Lanka has sold US121.05 million US dollars of 3-year bonds at a weighted average yield of 400 basis points above the 6-month London Interbank Offered Rate, the state debt office said. Sri Lanka offered 60 million US dollars of bonds for sale but 121. 05 million in bids were […]