Author: lbostgadmin
‘s bond awaiting launch window
Sept 05, 2013 (LBO) – A planned global bond sale by Sri Lanka’s National Savings Bank is waiting for international market conditions to improve, sources following the deal said.An international road show on NSB ended this week but market conditions remained unstable with a possible US strikes on Syria looming over the horizon, market sources […]
Sri Lanka Vietnam trade up 20-pct in first half
Sept 04, 2013 (LBO) – Trade between Sri Lanka and Vietnam has risen 20 percent in the first half of 2013, Hanoi’s envoy to Colombo Ton Sinh Thanh said.Sri Lanka’s minister of justice Rauf Hakeem and Petroleum Industries minister Anura Yapa had also visited Vietnam. “Trade volume between the two countries in the first six […]
Sri Lanka faces terror threat after war: defence official
COLOMBO, September 3, 2013 (AFP) – Sri Lanka risks a “re-emergence of terrorism” as Tamil Tiger rebels and their sympathisers living abroad revive a campaign for a separate state, the country’s top defence official said Tuesday.“Sri Lanka had enough divisions in the past that ultimately led to conflict,” Rajapakse added.“We must learn the lessons from […]
”s love of gold
KATHMANDU, September 4, 2013 (AFP) – After a long drive from across the border in China, the white truck arrived in Nepal’s capital at dawn with a seemingly innocuous cargo of Chinese-made clothes. But hidden in a cylinder inside the vehicle’s front bumper was the latest haul of gold smuggled from Tibet — bars weighing […]
‘s central bank amid storm
MUMBAI, September 4, 2013 (AFP) – Top economist Raghuram Rajan, renowned for predicting the 2008 global financial crisis, took over as India’s central bank chief on Wednesday as the country faces its worst financial storm in years. Rajan, a former IMF chief economist, replaced Duvvuri Subbarao as governor of the Reserve Bank of India (RBI), […]
”s Minor
Sept 04, 2013 (LBO) – Sri Lanka’s Hemans Holding said it is building a 40 million US dollar luxury hotel with Thailand’s minor group.The group through its Serendib Leisure Management Ltd has manages AVANI Bentota Resort and Spa, AVANI Kalutara Resort, Club Hotel Dolphin and Hotel Sigiriya. The 154 room 5-star rated hotel will be […]
Lending Expectations
Sept 04, 2013 (LBO) – Sri Lanka’s Sampath Bank is planning a branch in Myanmar and is expecting 20 percent credit growth this year despite tighter economic conditions, a top official said. “Our intention is to have a presence overseas,” managing director Aravinda Perera said. “We are looking at Myanmar.” The bank already has a […]
‘s Pan Asia Bank becomes gilt dealer
Sept 04, 2013 (LBO) – Sri Lanka’s Pan Asia Bank Plc has been appointed a primary dealer in government securities, the Central Bank said. The bank has been given the nod to start operations from September 16..
Sri Lanka sells smaller bill volume at auction
Sept 04, 2013 (LBO) – Sri Lanka has accepted only 2.7 billion rupees of bids for an auction of 9.0 billion rupees of maturing bills Wednesday with yields being flat, the state debt office said. The 3-months yield was at 8.61 percent, the 6-month yield was 9.64 percent and the 12-month yield was 10.56 percent. […]
Sri Lanka raises over US$200mn from dollar bonds
Sept 04, 2013 (LBO) – Sri Lanka has raised over 200 million US dollars from dollar denominated bonds from mainly Middle Eastern banks, Central Bank Governor Nivard Cabraal said.The government has received funds up to three years through the sale of bonds styled ‘Sri Lanka Development Bonds (SLDBs) last week, Cabraal said. This is the […]
Bollywood cuts costs as rupee crisis bites: study
MUMBAI, September 2, 2013 (AFP) – Bollywood producers have long been fond of filming in exotic foreign locations, but the spiralling Indian currency has seen spending on movie sets abroad drop by one third, according to a study released Monday.The Associated Chamber of Commerce and Industry of India (ASSOCHAM) says that the amount spent on […]
‘s rupee falls sharply, shares slump almost 3.5-pct
MUMBAI, September 3, 2013 (AFP) – India’s currency fell sharply Tuesday and stocks tumbled nearly 3.5 percent in another major sell-off caused by uncertainty in the Middle East and a new gloomy economic forecast by Goldman Sachs. On Monday, an HSBC survey showed that India’s manufacturing shrank in August for the first time in over […]