Author: lbostgadmin
Networked
Apr 11, 2013 (LBO) – Sri Lanka has moved up two places in a ranking compiled by the World Economic Forum, which measures how well information communications technologies are used by the people to 69, just behind India.Last year Sri Lanka was 71 out of 142 countries.Sri Lanka moved up in 2013 out of 144 […]
Port Profits
Apr 11, 2012 (LBO) – Operating profits at Sri Lanka Ports Authority (SLPA) rose 57.8 percent to 13.1 billion rupees partly helped by rupee despite a slight reduction in container handling, a state report said.In the past the ports authority had suffered losses due to the appreciation of the yen against the dollar as the […]
‘s Hatton National Bank to sell Rs4bn debt
Apr i1, 2013 (LBO) – Sri Lanka’s Hatton National Bank Plc is planning to sell 4.0 billion rupees of subordinated debt, which has been rated ‘A+(lka)(EXP)’ one notch below its long term rating, Fitch Ratings said. Rating Action Rationale The proposed debentures are rated one notch below HNB’s National Long-Term rating of ‘AA-(lka)’ to reflect […]
” Fitch Rating
Apr 11, 2012 (LBO) – Singer Sri Lanka Plc, a consumer durables firm will sell 1.5 billion rupees of senior debt which has been given an expected ‘A(lka)’ rating, Fitch Ratings said. Fitch had also confirmed an ‘A(lka)’ rating of the company. The outlook is stable. Singer will use the money from the debenture to […]
Sri Lanka economic growth to pick up in 2013: ADB
Apr 10, 2013 (LBO) – Sri Lanka’s economic growth will pick up to 6.8 percent in 2013 from 6.4 percent and extend to 7.2 percent in 2014, the while there will also be positive export growth, the Asian Development Bank has said.Sri Lanka’s merchandise exports will pick up 4 percent in 2013 and 5 percent […]
Sri Lankan energy utilities lose Rs150bn in 2012, bank debt Rs245bn
Apr 10, 2013 (LBO) – Sri Lanka’s state energy utilities lost 150.9 billion rupees in 2012, which is equal to 2.0 percent of gross domestic product, while debt taken from banks to fund losses rose 53 percent to 245 billion rupees, official data shows. The Ceylon Electricity Board made an operational loss of 61.2 billion […]
‘s CEB urged to have competitive bidding for all new plants
Apr 10, 2013 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board should have competitive bidding for all new plants, electricity users said at a public hearing, as an expensive plant that was ‘negotiated’ came under repeated fire from irate customers. Some diesel plants running reciprocating engines are selling power at a little over 20 rupees […]
Sri Lanka Treasuries yields flat
Apr 10, 2013 (LBO) – Sri Lanka’s Treasuries yield were steady at this week’s auction with the three month yield easing one basis point to 9.25 percent and the 12-month yield flat at 11.35 percent, the state debt office said. The 6-month yield for which bids were rejected a week earlier was 10.25 percent. The […]
Sri Lanka aiming for low inflation, 7.5-pct growth in 2013: CB Governor
Apr 09, 2013 (LBO) – Sri Lanka’s interest rates and inflation would fall in the coming months in a virtuous cycle, helped also by market pricing energy which will lower credit pressure, Central Bank Governor Nivard Cabraal said. Sri Lanka’s inflation rose 7.5 percent in the 12 months to March 2013 but eased from 9.2 […]
Sri Lanka aiming for low inflation, 7.5-pct growth in 2013: CB Governor
Apr 09, 2013 (LBO) – Sri Lanka’s interest rates and inflation would fall in the coming months in a virtuous cycle, helped also by market pricing energy which will lower credit pressure, Central Bank Governor Nivard Cabraal said.Sri Lanka’s inflation rose 7.5 percent in the 12 months to March 2013 but eased from 9.2 percent […]
Holding
Apr 09, 2013 (LBO) – Sri Lanka’s banks have experienced a moderate weakening in asset quality and capital ratios as the country recovers from a credit bubble, central bank data up to the third quarter of 2012 has shown. Gross non-performing loans rose to 4.0 percent from 3.8 percent in 2011, but the ratio is […]
Rate Track
Apr 09, 2013 (LBO) – Sri Lanka’s interest rates will start to ease from May and June 2013 ongoing reforms as state energy enterprises take effect, Treasury Secretary P B Jayasundera said. The CEB is expected to raise prices this month and the CPC is expected to stop giving it subsidized furnace oil. Though the […]