All Blogs
Sri Lanka reconciliation must ensure sustainable peace: Australia lawmakers
Dec 14, 2011 (LBO) – A visiting Australian parliamentary delegation has said Sri Lanka’s reconciliation efforts after the end of its 30-year ethnic war must ensure sustainable peace and progress. Five Australian-members of parliament have gained a “first-hand insight” into Sri Lanka’s current political, economic and social situation during a week-long visit to the country,” […]
Sri Lanka crate law stirs protest
Dec 14, 2011 (LBO) – Sri Lanka’s fresh produce trade including farmers and collectors rioted in several parts of the country amid police tear-gas after authorities started arresting citizens for transporting vegetables without plastic crates. The protests also underline deep flaws in the country’s policy and lawmaking, critics say. On Wednesday vegetable shops in the […]
Sri Lanka sovereign bond deal gets accolade
Dec 13, 2011 (LBO) – A billion dollar 10-year sovereign bond for Sri Lanka has won praise from a specialist regional financial publication, saying the deal brought the country closer to seasoned Asian borrowers like Philippines and Indonesia. “Few other contenders can stand up against the sovereign, which has continued to lead the way,” FinanceAsia […]
Sri Lanka relaxes foreign investment in company debt
Dec 13, 2011 (LBO) – Sri Lanka’s central bank said it had lifted a foreign borrowing limit by companies to 50 million US dollars from 20 million, lifted a rate cap on debentures and also slashed the tenor to two years from five. Before 1950 a currency board arrangement (hard peg) placed a hard budget […]
Sri Lanka stocks end up 0.5-pct
Dec 13, 2011 (LBO) – Sri Lankan stocks closed firmer Tuesday in thin trading with turnover falling to one of the lowest in recent times, brokers said. The main All Share Price Index rose 0.50 percent (29.66 points) to 5,994.66, while the more liquid Milanka index rose 0.75 percent (39.34 points) to close at 5,267.74. […]
Funding Deal
Dec 13, 2011 (LBO) – Sri Lanka’s state-owned Bank of Ceylon (BOC) has signed a deal with Dubai’s Mashreq Bank for a 140 million US dollar syndicated loan facility, a statement said. Mashreq, one of the top financial institutions in the United Arab Emirates, has a strong franchise in loan syndication anchoring the transaction with […]
Finance Rating
Dec 13, 2011 (LBO) – Fitch Ratings said a ‘BB+(lka)’ rating of Sri Lanka’s Trade Finance and Investment (TFI), a registered finance company, has been confirmed with a stable outlook. “The rating factors in TFI’s strong asset quality, capitalization, and profitability metrics for a small-sized registered finance company (RFC),” Fitch said. “The rating is, however, […]
Sri Lanka mall planned by Singapore retailer
Dec 13, 2011 (LBO) – Singapore-based retailer Mohamed Mustafa will build a 115 million dollar mall and mixed development in Sri Lanka’s capital Colombo, the island’s ministry of economic development said. The mall will be built in the Colombo 15, postal area in Sir Ramanathan Mawatha, a ministry statement said. An agreement was signed with […]
Business Model
Dec 13, 2011 (LBO) – WSO2, a Si Lanka-based provider of ‘ middleware’ that lets information technology applications talk to each other, said it has been rated high in a new industry survey. The company has been cited as a strong performer in the ‘Standalone SOA Management Solutions, Q4, 2011’ report published by an independent […]
Sri Lanka India coal plant seeks debt finance: report
Dec 13, 2011 (LBO) – Sri Lanka’s Trincomalee Power Company, a joint venture between state-run Ceylon Electricity Board and India’s NTPC Ltd, has approached banks for a 385 million US dollar loan, a media report said. Bloomberg newswires, citing an undisclosed source said the 550 million US dollar plant would be financed with 406 million […]