All Blogs
Sri Lanka east coast hotels planned by Hemas, Minor International
Nov 27, 2011 (LBO) – Thailand’s Minor International is to build more hotels in Sri Lanka in partnership with the island’s Hemas group and plans to re-open two existing properties after refurbishment and rebranding, officials said. Minor International’s Rajakarier said the Kani Lanka hotel in Kalutara, 80 percent owned by Minor and the balance by […]
Sri Lanka interests Flemish SMEs; trade with Belgium expands
Nov 27, 2011 (LBO) – Sri Lanka has seen a surge in exports to Belgium in 2011 and small and the is investor interest in the island among small and medium enterprises in Flanders, a statement by the island’s embassy in Brussels said. Belgium had accounted for 11.28 million dollars. Claire Tillekaerts, acting chief executive […]
Sri Lanka, Malaysia partners to promote Islamic banking, bonds
Nov 26, 2011 (LBO) – Sri Lanka’s Wealth Lanka Management (Pvt) Ltd, an investment house, and Al Tayseer Advisory Services Sdn. Bhd a Malaysia based consultancy has linked up to provide Islamic banking and bond market instruments, officials said. The firm advices on Islamic banking and corporate finance and advisory services for specialist industries like […]
Sri Lanka storms kills 16, over 30 missing
Nov 26, 2011 (LBO) – Heavy rain and strong winds that lashed Sri Lanka yesterday had left 16 people dead and at least 33 missing in several parts of Sri Lanka, the island’s disaster management office said. Authorities are still searching for more than 30 fishermen reported missing. Heavy winds that lashed the island had […]
Sri Lanka signal rate up
Nov 25, 2011 (LBO) – An effective signal interest rate in Sri Lanka has edged up over 30 basis points over the week with the monetary authority withdrawing excess liquidity through a cash auction a higher rate. The 3-month auction Treasury bill rate which is controlled by the monetary authority increased 44 basis points to […]
Sri Lanka stocks end down one-pct
Nov 25, 2011 (LBO) – Sri Lankan shares fell further Friday, following Thursday’s crash below the 6,000 point mark, with a trading halt caused by an error trade jolting investors already unnerved by uncertainty and margin calls, brokers said. The main All Share Price Index fell 1.04 percent (60.99 points) to 5,805.76, while the more […]
Asset Quality
Nov 25, 2011 (LBO) – RAM Ratings Lanka has upgraded LB Finance’s (LBF) long- and short-term financial institution ratings, from BBB+/P2 to A-/P2, with the long-term rating given a stable outlook. The rating agency has also revised upwards the long-term ratings of LBF’s debt issues, s statement said. “The upgraded ratings reflect LBF’s consistently expanding […]
Sri Lanka, Thai hotel venture to build beach property
Nov 25, 2011 (LBO) – Thailand’s Minor International is to build a 160-room beach hotel on Sri Lanka’s south-west coast in a partnership with the island’s Hemas Holdings group at a cost of 25 million US dollars. Abbas Esufally, group director of Hemas Holdings, said Minor group which operates hotels under the Avani and Anantara […]
Sri Lanka woos Sheraton India franchisee for hotel: report
Nov 25, 2011 (LBO) – Sri Lanka is in talks to with India’s ITC Ltd a franchisee of Starwood Hotels and Resorts’ Sheraton brand to build a 450 million US dollar hotel in a beachfront in the capital Colombo, a media report said. Reuters, a new agency quoted Sri Lanka’s Treasury Secretary as saying that […]
Sri Lanka tea prices fall
Nov 25, 2011 (LBO) – Sri Lankan tea prices fell at this week’s Colombo auctions with reduced demand and brokers saying the island is unlikely to match last year’s annual production owing to a slower recovery in crops. A key buyer also kept out of the first day of the auctions owing transport problems involving […]