Author: lbostgadmin
Sri Lanka Bank of Ceylon raises Rs6.0bn from bonds
Nov 25, 2012 (LBO) – State-run Bank of Ceylon said it had raised 6. 0 billion rupees in subscriptions from a debentures and closed the offer on November 23, making it the biggest even rupee bond sale by a Sri Lanka based financial institution. The bonds came with floating and fixed coupons, with one type […]
Sri Lanka to boost, tourism, investment links with Kazakhstan
Nov 23, 2012 (LBO) – Sri Lanka is expecting closer economic ties with Kazakhstan following a visit to the country by President Mahinda Rajapaksa, the state information office said. The information office quoted President Rajapaksa as saying that the two countries will commence negotiations on economic and technical co-operation, avoiding double taxation, investment protection and […]
Sri Lanka hydro storage declines
Nov 23, 2012 (LBO) – Storage at Sri Lanka hydro power generating reservoirs has begun to fall this week after climbing steadily during unusually heavy inter-monsoonal rain, data from the state run power utility shows. Industry experts say the long run average for inflows is about 14GWh a day during November and about 10 during […]
Sri Lanka business, IUCN in bio conservation drive
Nov 23, 2012 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce, International Union for Conservation of Nature (IUCN) and Dilmah, a tea sector group are starting an initiative to promote conservation. The Business and Biodiversity Platform (B&B Platform) would allow businesses to share information on conservation and also tap local international expertise in the area. […]
Micro Tech
Nov 23, 2012 (LBO) – Sri Lanka based 24/7 Techies, a online technical support firm catering to micro businesses said it had raised 600,000 dollars from a capital raising event in the United States. 24/7 Techies (247techies.com), is an offshoot of Eureka Technology Partners, an information technology company that provides remote services to larger businesses. […]
‘s Finance on upgrade track
Nov 23, 2012 (LBO) – Sri Lanka’s People’s Finance Plc, has been placed on rating watch positive by Fitch Ratings, putting it on track to be upgraded by two levels to ‘AA-(lka)’ once a merger with its parent, People’s Leasing and Finance Plc, is completed. The full statement is reproduced below Fitch Places People’s Finance […]
‘s Supreme SAT satellite on Chinese rocket
Nov 22, 2012 (LBO) – Sri Lanka’s Supreme SAT is launching its first Satellite on a Chinese rocket which can be used for direct to home broadcasts and communications, the state investment promotion agency said. The project is connected to Rohitha Rajapaksa, a son of Sri Lanka’s President Mahinda Rajapaksa. “I am very proud to […]
Nordic Trading
Nov 22, 2012 (LBO) – Norway’s stock exchange Oslo Børs, has gone live with trading software from MillenniumIT, a Sri Lanka-based unit of UK’s London Stock Exchange group, the company said. MillenniumIT systems are live in over 30 locations around the World. “Oslo Børs members can now benefit from the high performance and rich functionality […]
Health Management
Nov 22, 2012 (LBO) – Japanese-style management techniques applied in hospitals in Sri Lanka had helped improve healthcare in a number of African countries, the Japan International Co-operation Agency said. JICA said the 5-S organizational method (seiri or sort), seiton or set), seiso ro shine), seiketsu or standardize) and shitsuke or sustain) and kaizen (continuous […]
Sri Lanka to participate in Indian summit following CII visit
Nov 21, 2012 (LBO) – Sri Lanka’s economic development minister Basil Rajapaksa will lead a delegation to India’s ‘Partnership Summit’ to be held in Agra in January, India’s high commission (embassy) said after a business delegation visited the island. Godrej had said that Indian companies could use to set up priority industries like pharmaceuticals, IT […]
Flawed Process
Nov 21, 2012 (LBO) – Friday Forum, a citizen group said impeachment proceedings launched against Sri Lanka’s chief justice was “deeply flawed” and is perceived as an attack on institution that is independently working in the public interest. The Friday Forum said the process by a select committee was flawed and has attracted criticism from […]
Sri Lanka stocks extend losses
Nov 21, 2012 (LBO) – Sri Lanka stocks extended losses, sliding 1.3 percent Wednesday on top a 1.2 percent fall a day earlier with losses across the board with some margin calls also contributing, brokers said. Sri Lanka’s stocks have now fallen over 600 points from an early October peak. Stocks went through a mini […]