Author: lbostgadmin
Latin Conquest
Jan 18, 2013 (LBO) – MilleniumIT, a Sri Lanka based unit of the London Stock Exchange group has struck a deal to provide trading and order routing technology to Peru’s Lima Stock Exchange. Peru will get Millennium Exchange softer and Millennium SOR smart order routing technology. “We are very conscious of the relevance of technology […]
Sri Lanka to imports 4,500 dairy cows to state farms
Jan 18, 2013 (LBO) – Sri Lanka’s state-run National Livestock Development Board is spending 28.537 million US dollars to import 4,500 dairy cows, of which 500 animals have already arrived in the country, information minister Keheliya Ramukwelle said.The cows will be distributed among three farms in Bopaththalawa, Nikaweratiya and Sirignapatha. Under the first stage 500 […]
Land Routes
Jan 18, 2013 (LBO) – Sri Lanka will build 37 major bridges on national roads with a loan from the Japan and major roads in Colombo will be re-built with another credit, information minister Keheliya Rambukwelle said.A bridge on the Nawala-Nugegoda road will also be reconstructed with the funds. Sri Lanka will borrow 12.38 billion […]
Car Trends
Jan 18, 2013 (LBO) – Sri Lanka’s new vehicle registrations fell 44.8 percent to 25,308 in December 2012, with new registrations of small Maruti and Suzuki cars down 64 percent and BMW cars up 161 percent, data compiled by JB Securities equities research shows.BMWs are believed to be imported on tax-slashed permits given to state […]
Sri Lanka LOLC Rs1.25bn debentures rated [SL)A- by ICRA
Jan 18, 2013 (LBO) – ICRA Lanka, an associate of Moody’s Investors Service has given a [SL]A- rating with a stable outlook for a 1.25 billion rupee usecured debenture sale by Lanka Orix Leasing Company Plc. The rating took into account LOLC track record of profitable operations, its market position, experienced management team, adequate risk […]
Liquidity spikes in Sri Lanka money markets
Jan 18, 2013 (LBO) – Liquidity in Sri Lanka’s money markets has climbed to around 40 billion rupees amid dollar inflows bought by the monetary authority, but two terms auctions were announced Friday to mop up liquidity.Sri Lanka’s central bank creates money through dollar purchases to maintain a de facto peg to the US dollar […]
‘s central bank holds rates, warns against SOE credit
Jan 17, 2013 (LBO) – Sri Lanka’s policy rate at which liquidity is injected to the market will remain at 9.5 percent following a 25 basis point rate cut last month, the Central Bank said, but warned against rising credit to state enterprises. The Central Bank said the exchange rate has appreciated 5.3 percent against […]
‘s NDB to finance micro hydros with ADB credit
Jan 17, 2013 (LBO) – Sri Lanka’s National Development Bank said it will use a 1.29 million US dollar credit line from the Asian Development Bank to re-start 19 micro hydro projects in tea and rubber plantations.NDB said it had entered into a partnership with Sri Lanka’s Sustainable Energy Authority and the government to participate […]
Sri Lanka capital power grid to be upgraded with Japan loan
Jan 17, 2013 (LBO) – Japan will provide 15.9 billion yen (23.91 billion rupees) loan to upgrade the power grid around Sri Lanka’s capital Colombo, information minister Keheliya Rambukwelle said.The Japan International Corporation will give 40 year loan at 0.3 percent with a 10 year grace period. The funds will be used to strengthen the […]
Concerns
Jan 17, 2013 (LBO) – The International Commissions of Jurists, an international rights body promoting rule of law has raised concerns about Sri Lanka’s newly appointed chief justice and asked for his controversially sacked predecessor to be re-instated. Chief Justice Shirani Bandaranayake was impeached by parliametn through controversial process which courts declared illegal and unconstitutional. […]
‘s The Kingsbury seeks shareholder nod to borrow more
Jan 17, 2013 (LBO) – Sri Lanka’s Hotel Services (Ceylon) Plc, has sought shareholder approval to increase borrowings after the cost of renovating its ‘The Kingsbury’ branded property escalated.Following design changes which required an additional 600 million rupees the cost escalated to 2.4 billion rupees. The renovation had also involved replacing its older mechanical and […]
Bus Purchase
Jan 17, 2013 (LBO) – Lanka Ashok Leyland, unit of Ashok Leyland has won a 700 million rupee contract to supply 200 buses to Sri Lanka’s state transport utility. Sri Lanka’s transport ministry will buy 200 buses from Lanka Ashok Leyland Plc, information minister Keheliya Rambukwelle said. The cabinet of ministers had approved a proposal […]