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Sri Lanka John Keells in share buyback
Sept 25, 2008 (LBO) –Sri Lanka’s John Keells Holdings (JKH) said it would give back 2.2 billion rupees to shareholders through a buy back of one share for every 25 held at 90 rupees. The shares are being bought back above the market price. JKH closed at 86.25 rupees on Wednesday. The firm sold rights […]
Sri Lanka NSB to raise US$100mn loan
Sept 25, 2008 (LBO) – Sri Lanka’s state-run National Savings Bank (NSB) is raising a 100 million US dollar one-year loan with Citibank Sri Lanka with the deal to be wrapped up by mid-October, an official said. To recieve instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The NSB […]
Sri Lanka T-bill rates spike
Sept 25, 2008 (LBO) – Sri Lanka’s Treasury bill yields spiked at Wednesday’s auction while the government resumed sales of 3-month bills, the government’s debt office said.The 12-month bill yield also spiked 72 basis points 19.06 percent. The government raised 525 million rupees selling 3-month bills at 17.22 percent after an absence of several weeks. […]
Sri Lanka shares weaken further
Sept 25, 2008 (LBO) – Sri Lankan shares weakened further Thursday, dragged down by falls in blue chips as small investors stayed away, unable to make gains in a stagnant market, brokers said.It fell 25 cents to end at nine rupees with 619,700 shares traded. LIOC was the second most actively traded stock.It fell 75 […]
Rising Risk
Sept 25, 2008 (LBO) – Sri Lanka’s finance companies, especially smaller ones, could face difficulties in raising funds to maintain liquidity if the present high inflation and interest rate scenario continues, Fitch Ratings has warned. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The rating agency said […]
Savings Promotion
Sept 25, 2008 (LBO) – Sri Lanka’s state-run National Savings Bank (NSB) is starting a three-month savings drive from October 01, to coincide with World Thrift Day, officials said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The bank was also offering gifts ranging from bicycles and […]
Sri Lanka Aug tea exports jump 41 pct, set for year record: official
COLOMBO, September 25, 2008 (AFP) – Sri Lanka’s tea exports rose more than 40 percent in the first eight months of the year and are on track to earn a record 1.4 billion dollars this year, the tea board said Thursday. Sri Lanka is the world’s fourth-largest producer of tea behind China, India and Kenya. […]
Sri Lanka Hayleys to grow more export vegetables
Sept 24, 2008 (LBO) – Sri Lanka’s Hayleys group plans to increase high value vegetable cultivation for export after a pilot project with US aid put farmers in a position to supply top food brands like McDonalds and Unilever.The Hayleys Group is the sole exporter of gherkins from Sri Lanka, processing more than 8,000 tonnes […]
‘t allow Tigers to hold Tamil people hostage
September 25, 2008 (AFP) – Sri Lankan President Mahinda Rajapakse said he would not allow the Tamil Tigers to hold the Tamil people hostage, as the decades-long conflict with the rebels escalates, his office said Thursday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 In an address […]
‘s Bank of East Asia eases after stability pledge
HONG KONG, September 25, 2008 (AFP) – The run on Hong Kong’s Bank of East Asia subsided on Thursday, as banking authorities soothed savers’ concerns that Wall Street’s financial crisis had spread to the city. Hundreds of customers queued for a second day across the city before branches opened as they scrambled to get their […]