Author: lbostgadmin
Credit Trend
Apr 01, 2013 (LBO) – Heavy state borrowings from banks crowded out credit to private business to a 44-month low in January 2013, despite the monetary authority cutting policy rates, official data show.Commercial banks loaned 9.7 billion rupees to private borrowers in the month, the lowest since May 2010, when 7.2 billion rupees was loaned […]
Dialog Axiata Sukuk program gets Malaysia regulator nod
Apr 01, 2013 (LBO) – Sri Lanka’s Dialog Axiata has been given the nod to issue Shariah compliant Sukuk securities by Malaysia’s regulators, a filing in the Malaysian Stock Exchange on behalf of its parent said. Approval had been received from Sri Lanka’s central bank and SEC and also Malaysia’s central bank. Malaysia’s Securities Commission […]
Sri Lanka consumer durables firm in rural push
Mar 31, 2013 (LBO) – Sri Lanka’s Dinapala group, a consumer durables distributor says electrification of rural areas is increasing the demand and the firm is also strengthening a network in former war torn areas. “This year we are going to expand in to another 10 branches, likewise we are targeting to open 10 branches […]
Sri Lanka power regulator cuts penalties on late payers
Mar 31, 2013 (LBO) – Sri Lanka’s power regulator had directed state-run Ceylon Electricity Board to cut penalties on late payers and also halted penal interest accruing after disconnection. The CEB has also been directed to come up with a plan to pay interest on customer security deposits held by the power firm.The power utility […]
Cutting energy subsidies will slash carbon emissions: IMF
Mar 30, 2013 (LBO) – Cutting energy subsidies will slash carbon emissions while releasing resources for education and health, and helping boost the balance of payments of many countries, the International Monetary Fund has said. An IMF study Energy Subsidy Reform: Lessons and Implications has estimated that direct energy subsidies totaled about 480 billion US […]
Sri Lanka combined cycles more expensive than diesel engines: data
Mar 30, 2013 (LBO) – Sri Lanka’s combined cycle power plants which are supposed to be efficient and cheaper have turned out to be more expensive than internal combustion plants, published data show. According to a consultation document released by the Public Utilities Commission, Sri Lanka’s power regulator, private plants running IC engines including Heladanavi […]
”’ by RAM
Mar 30, 2013 (LBO) – A ‘BBB’ long term rating of Sri Lanka’s Union Bank has been confirmed by RAM Ratings Lanka Plc, with a stable outlook. A ‘P3’ short term rating was also confirmed. “The ratings are supported by the Bank’s healthy capitalisation but tempered by its small stature, below average asset quality, performance […]
Sri Lanka nationalists attack Muslim-owned store
Mar 29, 2013 (LBO) – A Muslim owned shop in a suburb of Sri Lanka’s capital was torched amid growing Buddhist nationalist attacks against minorities, while police said security has been tightened and they were searching for the perpetrators. “A special police team in investigating the incident,” police spokesman Buddhika Siriwardena said. “We will bring […]
Fourth Gen
Mar 28, 2013 (LBO) – Sri Lanka’s Dialog Axiata, which bought a slice of 1800MegaHertz band spectrum says it will launch fourth generation high speed mobile broadband services shortly. Dialog group operates Sri Lanka’s largest mobile network with 7.8 million subscribers with GSM, 3G and HSPA+ technology. Dialog says it was chosen as the internet […]
Value Destruction
Mar 28, 2013 (LBO) – Sri Lanka’s transport sectors is estimated to contribute to 10 percent of the gross domestic product, but its shortcoming including accidents, traffic jams and delays cost 200 billion rupees, an expert has said.“However about 30 percent is lost due to accidents, congestion, lost time in public transport and damaged goods […]
‘s inflation eases to 7.5-pct in March
Mar 28, 2013 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 7.5 percent in March 2013 from a year earlier, down from 9.8 percent in February, data from the state statistics office said. The non-food sub-index rose 3.5 percent from a year earlier. The index grew 0.3 percent in the month. The price […]
‘s Arif Habib group keen to expand in Sri Lanka: official
Mar 28, 2013 (LBO) – Pakistan’s Arif Habib group which has a stock brokering unit in Sri Lanka is planning to expand into commodities and trade consultancy which can boost bi-lateral trade, an official said.The group has put an application to start a physical wholesale commodity business and bring in one million US dollars. “We […]