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Sri Lanka bond deal to JP Morgan, HSBC, RBS
Sept 18, 2009 (LBO) – Sri Lanka’s 500 million US dollar bond deal has been given to HSBC, JP Morgan, and Royal Bank of Scotland who will be joint managers and underwriters, the Central Bank said. Foreign fund managers have been pouring into the country’s government bond markets to buy high yielding rupee bonds which […]
Sri Lanka shares becalmed, profit taking seen
Sept 18, 2009 (LBO) – Sri Lankan stocks ended flat Friday with trading heavy but volatile and some profit taking seen and investors buying blue chips in anticipation of future foreign buying, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index […]
Lower Risk
Sept 18, 2009 (LBO) – International underwriters in London have further lowered the war risk rating for Sri Lanka following the defeat by government forces of Tamil Tigers, and appear to have excluded Colombo port, a senior official said.The London market’s Joint Cargo Committee (JCC) has lowered the risk rating from 3.0 to 2.9 – […]
Craft Claim
Sept 18, 2009 (LBO) – Sri Lanka’s Colombo Dockyard said it rejected claims it faced a five billion rupee claim over unpaid taxes and customs duties on sale of vessels it built and that it was challenging a court petition by customs.The shipyard said in a stock exchange filing that it had settled all taxes, […]
Name Change
Sep 18, 2009 (LBO) – Ceylinco Finance, a Sri Lankan finance company that was part of the troubled Ceylinco group, has changed its name to Nation Lanka Finance to make a fresh start, a senior company official said. “The company is heading towards a new direction,” N B S B Balalle, chairman of Nation Lanka […]
Risk Monitoring
Sept 18, 2009 (LBO) – Sri Lanka’s Bartleet TransCapital, has linked up with Aprivaa and risk consulting and analytical service provider for banks, insurers and asset managers, the company said.“The ever increasing complexity of products in the financial services sphere and the volatility of financial markets, make risk management and regulatory compliance of utmost importance, […]
Sri Lanka tea prices up on supply concerns
Sept 18, 2009 (LBO) – Sri Lankan tea prices were again propelled higher at the Colombo auctions this week by supply concerns stemming from a worker go-slow on upcountry estates and a global production shortfall, brokers said. Auctions prices are likely to stay high as drought in major tea exporting countries had reduced the crop […]
Economic Impact
Sep 18, 2009 (LBO) – The 28th LBR-LBO chief executive forum debated the economic impact of public interest litigation, with a four member panel made up of legal and private sector representatives. Had the Business Chambers followed the above strategy, which in fact was suggested to them, they and their members could have minimized the […]
Disputed Justice
Sept 18, 2009 (LBO) – Sri Lanka’s private sector should have been more forceful in challenging a chief judge seen as brilliant but dominating whose judgments raised questions about the process of public interest litigation, a public forum was told. Affected businesses could have asked for immediate reviews of what they considered bad decisions of […]
Public Debate
Sept 18, 2009 (LBO) – The 28th LBR-LBO chief executive forum debated the economic impact of public interest litigation, with a four member panel made up of legal and private sector representatives. Presentations were made by Rohan Samarajiva, head of LirneAsia, a think tank and a former telecom regulator, Preethi Jayawardena chief executive of Chemanex, […]