Author: lbostgadmin
Sri Lanka external accounts stabilized by $750mn bond sale: CB Governor
Sept 13, 2013 (LBO) – Sri Lanka’s external accounts will be strengthened and the balance of payments will turn into surplus after 750 million US dollars were raised by a state-run bank, Central Bank Governor Nivard Cabraal said. National Savings Bank sold 5-year bonds at 8.875 percent Friday, over 350 basis points higher than the […]
” rating confirmed: Fitch
Sept 13, 2013 (LBO) – Sri Lanka based Dialog Axiata’s ‘AAA(lka)’ rating has been confirmed by Fitch Ratings with a stable outlook. “Dialog’s rating reflects Fitch’s expectations that its 83 percent-parent, Axiata Group Berhad of Malaysia (Axiata), is likely to provide support if required, given operational and strategic linkages between the companies,” the rating agency […]
‘s economy grows 6.8-pct in 2Q 2013
Sept 13, 20132 (LBO) – Sri Lanka’s economy grew 6.8 percent in the June 2013 quarter from a year earlier, the state statistics office said.Government services grew 3.9 percent. The agriculture sector shrank 1.1 percent; industry grew 10.1 percent and services 6.6 percent. In agriculture tea had contracted 0.5 percent, rubber had grown 2.0 percent, […]
Energy View
PARIS, September 12, 2013 (AFP) – An increase in output should help cushion oil markets seized by tension over a possible conflict in the Middle East, the IEA said Thursday, with emerging market nations facing difficulties due to their falling currencies.The slow pace of the global economy led the International Energy Agency to keep its […]
Sri Lanka frees 736 convicts on prison day
COLOMBO, September 12, 2013 (AFP) – Sri Lanka on Thursday released 736 convicts after they were given a presidential pardon to mark the country’s prisoner day, officials said. Convicts serving time for minor offences were granted the amnesty and walked free from 22 jails across the country, prisons department spokesman Gamini Kulatunga said. “The president […]
Sri Lanka port expansion with UltraTech cement
Sept 12, 2013 (LBO) – UltraTech Cement Lanka (Pvt) Ltd, a unit of India’s Aditya Birla group said it had provided 90 percent of the cement for Sr Lanka’s Colombo South Harbhour expansion.It had supplied 160,000 metric tonnes for the project over two years, the firm said in a statement. Kiran Redkar, chief exective UltraTech […]
‘s Horana Plantations moves into oil palm
Sep 12, 2013 (LBO) – Sri Lanka’s Horana Plantations Plc, said it was moving into oil palm cultivation by initially planting 300 hectares of the crop, while also adding cinnamon and forestry to the mix. Some plantations have also grown trees to fire tea dryers but face restrictions. Corrected. Opening para/headline. Sri Lanka’s Horana Plantations […]
Debt Sale
Sept 12, 2013 (LBO) – Sri Lanka’s state-run Bank of Ceylon will sell 8.0 billion rupees of junior debt to boost regulatory capital. Fitch Ratings said it had given the debt an ‘AA(lka)’ expected rating. The bond is rated one notch below Bank of Ceylon’s national rating of ‘AA+(lka)’ because as regulatory Tier II debt […]
”s US$500mn bond launched: report
Sept 12, 2013 (LBO) – Sri Lanka’s state-run National Savings Bank has started selling a 5-year 500 million US dollar bond, a report said. A dollar denominated bond by state-run Bank of Ceylon maturing in 2018 was quoted at 7.90/8.14 percent levels Thursday. A 2020 sovereign bond was quoted around 7.32/55 percent levels bond dealers […]
Sri Lanka economics book released
Sept 12, 2013 (LBO) – The Central Bank said it released a new book, ;An Introduction to Principles of Economics – Part 1′ It was written by C P A Karunatilake, Director, Centre for Banking Studies, the training arm of the Central Bank of Sri Lanka. He is a graduate of Colombo University and has […]
Multinationals to get equal treatment in China: premier
DALIAN, September 11, 2013 (AFP) – China’s premier promised equal treatment for multinational companies operating in the country, as he opened a meeting of the World Economic Forum on Wednesday.China will continue to encourage foreign companies to invest and do business in China, and ensure that all companies have equal access …and equal treatment,” Li […]
‘s Lanka Ventures invests in Bangladesh power
Sept 11, 2013 (LBO) – Lanka Ventures Plc, a unit of Sri Lanka’s Acuity Partners, group said it had invested 2.0 million US dollars in a 52.2 MegaWatt heavy fuel power plant in Bangladesh.Acuity Partners is owned by Sri Lanka’s DFCC and HNB banking groups. Raj Lanka Power Company Ltd, promoted by Sri Lanka based […]