Author: lbostgadmin
Bank Gains
Mar 01, 2013 (LBO) – Profits at Sri Lanka’s Hatton National Bank rose 41 percent to 3.1 billion rupees in the December 2013 quarter from a year earlier, helped by higher net interest income and fee income, interim accounts showed. The group reported earnings of 7.93 rupees per share for the quarter.In the year to […]
”’ rating confirmed by S & P, amid warnings
Mar 01, 2013 (LBO) – Standard and Poor’s Ratings Services has confirmed a ‘B+’ sovereign rating for Sri Lanka with a ‘stable’ outlook but warned of a bloated state sector and institutions that lack transparency and independence. “We affirmed the ratings to reflect our view of Sri Lanka’s weak external liquidity, a moderately high and […]
Sri Lanka to double pay to graduate recruits: report
Feb 28, 2013 (LBO) – Sri Lanka will soon double the pay of around 50,000 unemployable graduates absorbed into state service to 23,000 rupees a month, a media report said.Sri Lanka’s ‘Yes FM’ a radio station, station broadcast economic development minister Basil Rajapaksa as saying in a speech that monthly allowances for the graduate trainees […]
‘s inflation 9.8-pct in February 2013
Feb 28, 2013 (LBO) – Sri Lanka’s consumer prices rose 9.8 percent in February 2013 from a year earlier, with the index rising 0.4 percent during the month, the state statistics office said. Inflation was also 9.8 percent in January. The state statistics office said food and non-alcoholic beverages rose 0.6 percent and non-food items […]
‘s Kandy Hotels in Rs1.5bn refurbishment
Feb 28. 2013 (LBO) – Kandy Hotels Co (1938) Plc, which controls two hotels in Sri Lanka’s central hill city of Kandy said it will start a 1.5 billion rupee refurbishment of the properties with the help of a Singapore based architectural firm. Corrected. Year of completion 2014 The firm said Hotel Suisse’ and Kandy’s […]
Bank Gains
Feb 28, 2013 (LBO) – Profits at Sri Lanka’s Sampath Bank rose 48.2 percent to 1.3 billion rupees in the December 2012 quarter from a year earlier, accounts filed with the Colombo Stock Exchange showed. The group reported earnings of 8.20 rupees per share for the quarter. For the year to December the group reported […]
” rating confirmed: RAM Ratings
Feb 28, 2013 (LBO) – RAM Ratings Lanka said an ‘A+’ long term and ‘P1’ short term rating of Lanka Hospital Corporation Plc, has been confirmed with a stable outlook. The firm is 54 percent owned by the state through its control by state-run Sri Lanka Insurance Corporation Plc. RAM said state support was expected. […]
Sri Lanka Treasuries yields flat
Feb 27, 2013 (LBO) – Sri Lanka’s Treasuries yields were flat at Wednesday’s auction with the 3-months with 18.7 billion rupees in bids being accepted from the market after 15.0 billion rupees of maturing bills being offered, the state debt office said.The 3-month yield eased 01 basis point to 9.09 percent, the 6-month yield was […]
Sri Lanka consumer durable imports slow in 2012: biz chamber
Feb 27, 2013 (LBO) – Growth in consumer electronics imports to Sri Lanka have slowed following a fall in the exchange rate and higher interest rates and China has increased its share, a business chamber has said.Sri Lanka’s Ceylon Chamber of Commerce said, machinery and mechanical appliances classified under chapter 84 of the international harmonized […]
Big Lender
Feb 27, 2013 (LBO) – Profits at Commercial Bank of Ceylon, Sri Lanka’s largest private lender, rose 22 percent to 2.4 billion rupees in the December 2012 quarter from a year earlier, helped by higher net interest income and lower provisions.The group reported earnings of 2.92 rupees per share for the quarter, in quarter accounts […]
Sri Lanka should watch debt, contingent, liabilities: IMF
Feb 26, 2013 (LBO) – Sri Lanka should be careful about mounting external liabilities and reserve adequacy, with national debt already on the “high side” at over 80 percent of gross domestic product, the International Monetary Fund has said.Sri Lanka’s official debt to GDP ratio is expected to climb slightly to 81 percent in 2012 […]
Sri Lanka AIA unit plans to go private, offer to minority shareholders
Feb 26, 2013 (LBO) – AIA Insurance said it is making an offer to buy out all minority shareholders of its Sri Lanka unit, ahead of plans to go private and made cash calls to boost capital.AIA said it was the operation model of the group to hold operating units as wholly owned units and […]