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Official Rules
July 21, 2011 (LBO ) – Sri Lanka will introduce ‘fit and proper’ tests for senior executives of non-bank lenders, following on from similar rules for commercial banks, deputy central bank governor Dharma Dheerasinghe said. Fit and proper rules are also expected to be imposed on leasing companies in the future. The measures are aimed […]
Sri Lanka eyed by Four Seasons: minister
July 21, 2011 (LBO) – Canada-based Four Seasons leisure group is in discussions to set up a resort in Sri Lanka following the end of a 30-year, deputy economic development minister Lakshman Yapa Abeywardene said. It is also building a resort in Hambantota in the South of the island. Abeywardene said the group was interested […]
Eyeing China, Clinton urges India to take leader role
CHENNAI, July 20, 2011 (AFP) – US Secretary of State Hillary Clinton urged India on Wednesday to be more assertive in Asia, reflecting US desire for New Delhi to emerge as a counter-weight to Chinese power. Speaking in the Indian city of Chennai — a southern trading port looking out towards east Asia — Clinton […]
Sri Lanka names squad but not skipper
July 20, 2011 (AFP) – Sri Lanka on Wednesday announced its one-day and T20 squad for Australia’s tour of the island next month, but stopped short of naming a skipper. Tillakaratne Dilshan, who was named captain for the just concluded tour of England, was included in the 20-man squad scheduled to play five ODIs and […]
Sri Lanka bond pricing guidance tightened
July 20, 2011 (LBO) – Pricing guidance to fund managers on a billion dollar sovereign bond for Sri Lanka has been tightened from an initial 6.5 percent to around 6.3 percent amid strong demand, financial market sources said. Sri Lanka has reported lower inflation and high growth of around 8.0 percent and the government’s budget […]
” by Fitch
July 20, 2011 (LBO) – Fitch Ratings has assigned Sri Lanka’s forthcoming US dollar-denominated global bonds due 2021 an expected ‘BB-(exp)’ rating. “The final rating is contingent on the receipt of final documentation conforming to information already received,” it said in a statement. As the currency of settlement is specified as US dollars, the rating […]
Sri Lanka Treasuries yields flat
July 20, 2011 (LBO) – Yields on Sri Lankan Treasury bills stayed steady at this week’s auction, the government debt office, which is a unit of the central bank, said. The three-month yield was 7.11 percent, six-months 7.19 percent and the 12-month yield 7. 25 percent, all unchanged from the previous week. The debt office […]
Sri Lanka launches billion dollar sovereign bond
July 20, 2011 (LBO) – Sri Lanka has launched a sovereign bond to raise a billion dollars from global capital markets, with a ‘book building’ process starting with Asian fund managers, financial sources said. The process of ‘book building’ or taking orders from fund managers starts as Asian markets open and moves to Europe as […]
Sri Lanka stocks up 0.1-pct
July 20, 2011 (LBO) – Sri Lanka share prices closed mixed with the main index up just 0.10 percent after a roller-coaster ride that saw it briefly in negative territory and some interest in the hotel sector, brokers said The main All Share Price Index closed at 6,682.46, up 0.10 percent (6.76 points) while the […]
Rail Move
July 20, 2011 (LBO) – Sri Lanka has revived cargo transport into Colombo port by rail after a lapse of four decades with a shipment of export containers by SG Logistics, part of the newly listed Expolanka Holdings group. Niroza Gazzali, chief executive of SG Logistics, said they were working closely with Sri Lanka Railway […]