Author: lbostgadmin
Colombo Metro
Mar 21, 2013 (LBO) – Japan’s aid agency is preparing a transport master plan for Sri Lanka’s capital and its environs leading to the building of a mass transit system which it could finance, officials said.Tetsuji Iida, senior representative of the Japan International Co-operation Agency told LBO that the transport master plan could come up […]
Merchant Bank of Sri Lanka wraps up debenture
Mar 21, 2013 (LBO) – Merchant Bank of Sri Lanka, a unit state-run Bank of Ceylon said it had raised 2.0 billion rupees from listed debenture which was oversubscribed on the opening day. “The money raised from the issue will be utilized to increase the lending portfolio and for the settlement of short term borrowings […]
Sri Lanka to see focus change in future Japan aid
Mar 20, 2013 (LBO) – Japan may gradually shift its aid to Sri Lanka from basic infrastructure to areas such as disaster management, health and education and per capita income rises in the future, officials said.Japanese aid has been concentrated so far in providing basic infrastructure including roads and bridges, but Sri Lanka’s per capita […]
Sri Lanka to start residency scheme for foreign nationals
Mar 20, 2013 (LBO) – Sri Lanka will introduce a residency scheme for foreign nationals who want to work or start businesses in the island as part of a revamp of a dual citizenship scheme, defence secretary Gothabya Rajapaksa said.He said the draft laws to change Sri Lanka’s dual citizenship process are with the legal […]
DFI Credit
Mar 20, 2013 (LBO) – Sri Lanka’s Sampath Bank has signed up medium term credit facilities from Chinese and French development finance institutions, managing director Aravinda Perera said. The bank grew loans 23.7 percent with the help of foreign finance topping an 18 percent ceiling imposed by the regulator for loans with domestic resources. Officials […]
Sri Lanka Sampath Bank raises US$100mn from syndicated loan
Mar 20, 2013 (LBO) – Sri Lanka’s Sampath Bank Plc, said it had raised 100 million US dollars from loan syndicated by HSBC, with Middle Eastern lenders being among top subscribers.Sampath chief executive Aravinda Perera said lenders mainly came from the Middle Eastern, followed by India and some EU banks. The current loan which was […]
Sri Lanka Treasuries yields up
Mar 20, 2013 (LBO) – Sri Lanka’s Treasuries yields rose across maturities at Wednesday’s auction with the 6-month yield rising 10 basis points to 10.25 percent, data from the state debt office said.The 3-month yield rose 6-basis points to 9.22 percent and the 12-month yield rose 6-basis points to 11.26 percent. The debt office which […]
Sri Lanka planned land rights legislation queried
Mar 19, 2013 (LBO) – A law to apparently improve people’s absolute property rights while another declared policy is aimed at taking away existing liberties has raised queries whether the moves are intended to benefit interest persons, a legislator has said. Under feudal rule, land was mostly owned by the king. Citizens held and used […]
Paradise Isle
Mar 19, 2013 (LBO) – Sri Lanka’s media, including banned-but-popular news websites, have evidently avoided reporting on the “princely wages” they have just been awarded by a government keen to win over their support.Buoyed by such compliments, media trade unions are unlikely to join the Organisation of Professional Associations (OPA). The Working Journalists’ Association, which […]
Sri Lanka carrier halves Chennai flights after attack on monks
Mar 18, 2013 (LBO) – State-run SriLankan Airlines said it was halving flight to Chennai to 14 a week from 28 from Thursday March 21 following an attack on a visiting Buddhist monk by Tamil groups.“SriLankan Airlines has observed a drop in traffic between Chennai and Colombo due to recent developments in Tamil Nadu, hence […]
Sri cautions tourists to Tamil Nadu; India says attackers prosecuted
Mar 18, 2013 (LBO) – Sri Lanka has called upon citizens travelling to “exercise caution” following attacks by suspected Tamil groups on tourists including Buddhist monks, while India said action has been taken to find and prosecute those involved in assaults.Sri Lanka’s foreign ministry said it had “lodged strong protests with the Indian Government” through […]
” rating confirmed
Mar 19, 2013 (LBO) – Fitch Ratings said it has confirmed the ‘B+(lka)’ rating of Sri Lanka’s Multi Finance Plc, a registered finance company, but has cut its outlook to ‘negative’ from ‘stable. “The revision of the Outlook reflects MFP’s weakening liquidity profile and net losses due to higher borrowing costs and increased operating expenses […]