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Sri Lanka stocks close 0.7-pct weaker
Jan 03, 2012 (LBO) – Sri Lankan stocks closed weaker Tuesday in very thin turnover with two newly listed hotels among the most actively traded shares, brokers said. Both companies are part of the Citrus Leisure group and raised funds to build 150 room luxury beach resorts. John Keells Holdings was also heavily traded, closing […]
Sri Lanka LOLC buys Dickwella Resort for a billion rupees
Jan 03, 2012 (LBO) – Sri Lanka’s LOLC group has acquired control of a beach resort catering to up-market European tourists at a cost of just over a billion rupees, a stock exchange filing said. “The hotel which is much sought after by an exclusive clientele of European tourists has potential for even further expansion,” […]
India urged to allow foreign investment in pensions sector
NEW DELHI, Jan 3 Asia Pulse – The Indian government should allow FDI in the pension sector as this will increase the volume of assets which can be used to develop the country’s infrastructure, an industry study has said. “FDI in pension funds will further increase the volume of assets that can be invested into […]
‘s Religare Finvest to sell 5-pct stake to PE firm
NEW DELHI, Jan 3 (AsiaPulse) – Private equity firm Jacob Ballas may acquire a five per cent stake in India-based Religare Finvest, a non-banking financial services arm of Religare Enterprises, for about Rs 200 crore (US$37 million). The deal would value the company, an NBFC focussed on the MSME segment, at close to Rs 4,000 […]
Petro Facility
Jan 03, 2012 (LBO) – Sri Lanka is negotiating a billion dollar facility from an international bank to defray payments for petroleum imports by made state-run Ceylon Petroleum Corporation in 2012, officials said. By October 2011 Sri Lanka had spent 3.6 billion dollars on petroleum imports up 48. 5 percent from a year earlier. A […]
” program: CB Governor
Jan 03, 2012 (LBO) – Sri Lanka will negotiate a “follow up or surveillance” program with the International Monetary Fund with a standby facility ending in December 2011, Central Bank Governor Nivard Cabraal said. Sri Lanka had a 2.6 billion US dollar stand by deal with the International Monetary Fund from May 2009 after the […]
Sri Lanka to grow at 8-pct in 2012, new deal with IMF: CB Governor
Jan 03, 2012 (LBO) – Sri Lanka’s economy is projected to grow at 8.0 percent in 2012 with a new deal in the offing with the International Monetary Fund, Central Bank governor Nivard Cabraal said. The island economy had grown at about 8. 3 percent in 2011, he said. In 2012 Sri Lanka is targeting […]
Sri Lanka debt to GDP ratio falls to 78-pct: CB Governor
Jan 03, 2012 (LBO) – Sri Lanka’s debt to GDP ratio had fallen to 78 percent by end-2011 from 82 percent in 2010, Central Bank governor Nivard Cabraal said. The island’s foreign exchange reserves had fallen to 6.0 billion US dollars by the end of 2011 enough to cover 4. 0 months of imports and […]
Sri Lanka stocks up slightly
Jan 02, 2012 (LBO) – Sri Lankan stocks were barely changed Monday with a deal in a bank in which foreigners have been selling out propping up turnover, brokers said. York Arcade Holdings was the most actively traded stock, closing at 30.40 rupees, up 5.20 with 840,700 shares done. Transactions in Hayleys also added to […]
Milestone Machine
Jan 02, 2012 (LBO) – Sri Lanka’s Commercial Bank has connected its 500th automated teller machine as it rapidly expands its network, adding 100 terminals in the past five months or at a rate of 20 a month on average. The newest ATM was opened at Maradana Railway Station in Colombo, under a bank project […]