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Acceptance of e-documents an urgent matter: Sri Lankan companies
Oct 24, 2016 (LBO) – Sri Lanka’s trading companies say acceptance of electronic documents is a matter that requires urgent attention. The Import Section of the Ceylon Chamber of Commerce in partnership with Verité Research held a round-table discussion on “Acceptance of Electronic Documents: One small step for the government, one giant leap for businesses” […]
Sri Lanka inflation accelerates to 4.7-pct in September
Oct 21, 2016 (LBO) – Sri Lanka’s consumer prices as measured by National Consumer Price Index rose to 4.7 percent in September from the 4.5 percent reported a month ago, data from the state statistics office showed. In September contribution to the inflation from food group was 2.1 percent while non-food group was 2.7 percent. […]
‘s proposed debenture BBB+(lka)(EXP)
Fitch Ratings has assigned Abans PLC’s (Abans; BBB+(lka)/Stable) proposed senior unsecured debenture issue of up to LKR1.5bn a National Long-Term Rating of ‘BBB+(lka)(EXP)’. The debentures will have tenors of three, four and five years and carry fixed and floating coupons. The debentures are to be listed on the Colombo Stock Exchange, with the proceeds to […]
Sri Lankan rupee steady; importer demand offsets exporter dollar sales
Oct 21, 2016 (Reuters) – The Sri Lankan rupee was trading steady on Friday, with dollar demand by importers offsetting conversions of the U.S. currency by exporters, said dealers. Rupee forwards were active, with the spot-next at 147.45/55 per dollar as of 0701 GMT, little changed from its previous close of 147.45/50. The spot rupee […]
Sri Lanka to issue gazette reducing essential drug prices today
Oct 21, 2016 (LBO) – The special gazette notification announcing the price reduction of 48 essential medical drugs will be issued midnight today, Health Minister Rajitha Senaratne said. Senaratne said that the prices of drugs will be reduced up to 85 percent through this gazette notification. The 48 essential medicines include those used in the […]
Sri Lanka central bank considers revamping primary auctions
Oct 21, 2016 (LBO) – Sri Lanka’s Central Bank is considering revamping the Primary Auction system for government securities, sources said. The proposed system would overhaul the auction bidding process and introduce non-competitive bidding so as to create a level playing field. The move likely follows heavy profits made by one primary dealer from government […]
‘s proposed debenture issue A-(lka)(EXP)
Fitch Ratings has assigned Singer (Sri Lanka) PLC’s (Singer;A-(lka)/Stable) proposed senior unsecured debenture issue of up to LKR4bn a National Long-Term Rating of ‘A-(lka)(EXP)’. The debenture is to be issued at a fixed rate with a tenor of three years. The proceeds of the proposed issue will be used to refinance existing debt. Singer’s proposed […]
Strong growth for Sri Lankan telcos, despite higher taxes: Fitch
Oct 21, 2016 (LBO) – Fitch Ratings said Sri Lanka Telecom rating of B+/Negative/AAA(lka)/Stable and Dialog Axiata PLC AAA(lka)/Stable will remain steady despite higher taxes and large capex. “The ratings of both telcos benefit from high headroom capable of absorbing some margin dilution and lower cash generation,” the company’s rating statement said. The stable outlook […]