Author: lbostgadmin
”s Leasing wraps up largest listed bond issue
Mar 19, 2013 (LBO) – Sri Lanka’s People’s Leasing and Finance Plc, the country’s largest non-bank lender said it had sold 6.0 billion rupees in bonds, which a joint manager said was the largest listed debenture sale so far. The company said the oversubscribed issue was closing today and the basis of allocation would be […]
Sri Lanka sells US$129mn in floating rate bonds
Mar 19, 2013 (LBO) – Sri Lanka has sold 129 million US dollars in 3-year dollar denominated bond at an average yield of 400 basis points above the London interbank offered rate, the public debt office said.Styled ‘Sri Lanka Development Bonds’, the dollar denominated instruments are sold to banks and other domestic investors who are […]
India calls off defence talks with Sri Lanka: report
Mar 18, 2013 (LBO) – India has called off annual defence talks with Sri Lanka scheduled to have been held on March 25 amid protests from Tamil parties, a media report said.The Press Trust of India, a news agency, said no reason was given for cancelling the Secretary-level talks and no new dates have been […]
Sri Lanka opens second international airport
Mar 18, 2013 (LBO) – Sri Lanka President Mahinda Rajapaksa inaugurated the island’s second international airport in Mattala, Hambantota after arriving in a state-run SriLankan Airlines aircraft Monday.The Chinese financed Mattala Rajapaksa International Airport, named after the president, can handle a million passengers and 45,000 tonnes cargo annually. Air Arabia, a UAE based budget carrier, […]
Sri Lanka second airport to support aviation hub strategy: President
Mar 18, 2013 (LBO) – The opening of a second international airport in Mattala in Hambantota on March 18, strengthens Sri Lanka’s strategy to become an aviation hub, President Mahinda Rajapaksa said. The airport has a 3,500 meter ‘code F’ runway capable of handling Airbus A380 aircraft. He declared March 18 as the civil aviation […]
Smartphone
Mar 18, 2013 (LBO) – Dialog Axiata Plc, Sri Lanka’s largest cellco said it has launched two own brand Android based handsets with which it hopes encourage mass-adoption of Smartphones in the country.Hans Wijesuriya, group chief executive of Dialog Axiata said the move will allow every citizen to afford a Smartphone. He said the Dialog […]
Financial Turmoil
TOKYO, March 18, 2013 (AFP) – The euro dived in Asia Monday as news that Cyprus would have to tax bank customers’ deposits as part of an EU bailout stoked eurozone fears, sending investors flocking to the safe-haven yen.In afternoon Tokyo trade, the euro sank to 121.77 yen from 124.61 yen in late New York […]
Smart Traffic
Mar 18, 2013 (LBO) – Sri Lanka’s expressways will get hi-tec equipment to monitor traffic, disseminate information including weather and analyze data to solve problems relating to traffic conditions, the Japan International Co-operation Agency said. Data from existing closed circuit TV cameras, patrol vehicles, Police and expressway users could also be combined and relevant information […]
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Mar 16, 2013 (LBO) – Retaining the confidence of external portfolio investors in key to maintaining stability in the exchange rate and balance of payments, Mood’s Investors Services has said. In 2012 central bank also transferred its year-end profit to the Treasury not as rupee liquidity but as a book entry against maturing Treasuries, again […]
Sri Lanka offers tax-free zone at new airport
MATTALA, Sri Lanka (AFP) – Sri Lanka is turning its newest international airport opening Monday into a tax-free zone to attract aviation-related industries, a top official said.Mattala was initially planned as an expansion of the small Wirawila military airstrip, but Wickremasuriya said they shifted the location 25 kilometres (16 miles) away to ensure no disruption […]
Sri Lanka casino tax cut under fire
Mar 16, 2013 (LBO) – A proposal to lift a series of taxes from casinos and impose only a five percent tax has drawn fire from Sri Lanka’s main opposition, as basic goods including foods are taxed at much higher rates.Such firms get income tax holidays, relief from economic services charge, port and airport levy […]
Sri Lanka legislative change would promote fiscal irresponsibility: legislator
Mar 15, 2013 (LBO) – Proposed changes to law aimed at restraining excessive spending by Sri Lanka’s rulers will promote fiscal irresponsibility and also understate the actual budget deficit, a legislator has warned. Disclosures made under the fiscal responsibility law showed that 83 billion rupees in new guarantees or about 1.1 percent of GDP had […]