All Blogs
Sri Lanka population lower than estimated, but growing: Census Dept
June 27, 2012 (LBO) – Sri Lanka’s first countrywide census conducted after the end of a 30-year war shows the population is 20.277 million, the statistics office said, which is lower than earlier estimates. Earlier estimates put mid-year population in 2011 at 20.869 million with an annual growth rate of 1.0 percent. The census conducted […]
Sri Lanka forex markets in a spot
June 26, 2012 (LBO) – Sri Lanka’s spot foreign exchange markets were inactive Tuesday with no two way quotes following earlier regulatory pressure, though the market for transactions with settlement three days ahead, became active, dealers said. So-called ‘spot’ market deals are settled two days later. ‘Spot next’ or deals settled three days later, were […]
Sri Lankan stocks flat; high turnover driven by Aitken Spence, Lion Brewery
June 26, 2012 (LBO) – Sri Lankan share prices were virtually flat on Tuesday, despite big ticket deals in Aitken Spence PLC and Lion Brewery PLC which propelled the bourse to one of its highest turnovers in a single trading day, brokers said. The benchmark All Share Price Index was down 0. 44 points or […]
Safe Zone
June 26, 2012 (LBO) – Sri Lanka’s Sampath Bank PLC secured a A+(lka) for its upcoming 2.5 billion rupees debenture from Fitch Ratings Sri Lanka. The five-year debt paper is expected to be listed on the Colombo Stock Exchange, and will be used to beef up Sampath’s Tier II capital, Fitch said on Tuesday. Full […]
Stable Outlook
June 26, 2012 (LBO) – Fitch Ratings Sri Lanka revised Sinhaputhra Finance PLC’s outlook upwards to ˜stable’ from ˜negative’ on improvements in its credit risk management practices. The outlook revision and affirmation reflects¦ subsequent stabilisation and enhancement in its asset quality, although the latter still remains weaker than its peers’ average, the risk evaluator said […]
Levies
June 26, 2012 (LBO) – Sri Lanka’s state banks, two insurers and a state airport agency are among the top contributors to the budget by levies and dividends a finance ministry report showed. State-run National Savings Bank paid 4,560 million as levies, the Peoples’ Bank 4,500 million rupees and Bank of Ceylon 4,500 million rupees. […]
Credit FAQ
June 26, 2012 (LBO) – Standard and Poor’s, a rating agency has released a document answering potential investor queries following the release of a Banking Industry Country Risk Assessment. The full statement is reproduced below: Understanding Standard & Poor’s BICRA Assessment Of Sri Lanka Standard & Poor’s Ratings Services recently assigned Sri Lanka to its […]
UN running low of funds humanitarian work in northern Sri Lanka
June 26, 2012 (LBO) – The United Nations is experiencing a funding shortfall to meet urgent humanitarian relief work across Sri Lanka’s conflict-hit north, with money running low for solid waste, shelter and water. Basic services to Menik Farm are reaching critical levels with the majority of providers approaching the end of their funding in […]
Sri Lanka economic forum to probe ease of doing business
June 26, 2012 (LBO) – An annual economic forum next month organized by Sri Lanka’s Ceylon Chamber of Commerce will have a session focusing on the ease of doing business in the island. The Sri Lanka Economic Summit will be held in Colombo from July 10 to 12, held for the 13th successive year will […]
Sri Lanka Distilleries Corp, transfers assets
June 25, 2012 (LBO) – Distilleries Corporation of Sri Lanka, has transferred stakes in a hotel and two plantations to a wholly owned subsidiary in a move that will consolidate non-alcohol businesses in a separate unit. Distilleries Company said it had transferred 54.06 million shares or a 41.7 percent stake in Browns Beach Hotel, to […]