Author: lbostgadmin
Sri Lanka Nestlé unit sets milk collection record
Oct 03, 2012 (LBO) – Nestlé Lanka, a unit of Swiss based Nestlé said it had collected five million litres of milk from domestic farmers, which was the highest monthly collection to date. The firm collects milk from 18,000 dairy farmers in rural Sri Lanka. “Developing and contributing to Sri Lanka™s rural economy has always […]
Name Change
Oct 03, 2012 (LBO) – People’s Leasing Company, Sri Lanka’s largest leasing firm said it has changed its name to People’s Leasing & Finance Plc. The firm has a ‘AA-(lka)’ domestic rating and B+ international rating from Fitch. It also has a B+ rating from Standard and Poor’s. In July the company has applied to […]
Foreign Appetite
Oct 03, 2012 (LBO) – Sri Lanka’s NDB Bank says there is international investor appetite for bond for large projects in the island, including public private partnerships which are beyond the capacity of domestic financial markets. NDB Bank group, which has an investment banking relationship with Singapore’s DBS has had preliminary investor meetings with foreign […]
Sri Lanka stocks close 0.64-pct lower
October 03, 2012 (LBO) – Sri Lanka stocks closed down 0.64 percent Wednesday with some blue chip stocks losing ground. Aitken Spence PLC gained 1.00 rupees to close at 135.00 down 0.75 percent. Dialog Axiata PLC slipped 0.20 cents to close at 8.80 rupees down 2.22 percent. The Colombo All Share Index closed at 5,890.69 […]
”’ by RAM
Oct 03, 2012 (LBO) – RAM Ratings has given a ‘BBB+’ long term rating with a stable outlook to First Capital Holdings, an investment company with interests securities dealing, margin trading and portfolio management. First Capital Holdings’ 500 million rupees worth unsecured commercial paper had been give a ‘P2’ rating. RAM Rating said the firm […]
Sri Lanka Treasuries yield plunge at auction
Oct 03, 2012 (LBO) – Sri Lanka’s Treasuries yields fell across maturities at Wednesday’s auction with the 12-month yield falling the most by 54 basis points to 12. 48 percent, data released by the state debt office showed. The state offered 10 billion rupees in maturing debt and accepted 13.0 billion rupees from the market. […]
Sri Lanka mid-year fiscal report not responsive to law: legislator
Oct 02, 2012 (LBO) – An interim report on state finances presented to parliament is not responsive to Sri Lanka’s fiscal management responsibility law and lacks key information, a legislator has said. Harsha de Silva, an opposition legislator who is an economist, has told parliament that in Sri Lanka’s mid-year fiscal report covering fiscal operations […]
‘s state debt expands amid currency fall, forex loans
Oct 02, 2012 (LBO) – Sri Lanka’s state debt has expanded by more than a trillion rupees to 6,161 billion rupees up to July 2012 from 5,133.3 billion rupees in December 2012, as the currency depreciated and foreign borrowings increased. Domestic borrowing had fallen to 53.02 percent from 59.6 percent over the same period. In […]
Sports Backbone
Oct 02, 2012 (LBO) – Sri Lanka Telecom, the island’s largest telecom provider says it is providing high speed connections to all sporting venues during the Twenty20 world cricket championships being held in the island. SLT has provided fibre optic links to cricket stadia in Hambantota and Galle in the south, Pallekele in central Sri […]
M&A Forum
Oct 02, 2012 (LBO) – Sri Lanka chapter of UK’s Chartered Management Institute and KPMG, a accounting firm, has organized a forum on mergers and acquisitions as businesses look outside organic growth to expand. While mergers and acquisitions are becoming popular there are also risks and challenges. CMI and KPMG has brought together a group […]
Outward Eye
Oct 02, 2012 (LBO) – Sri Lanka’s NDB Bank group will use a part of the cash from a 59 million US dollar exit from an insurance unit for regional expansion, chief executive Russel de Mel said. “We are looking for regional expansion,” de Mel said. “Though we have 30 years of experience as a […]
Sri Lanka stocks closed down 0.60 pct
October 02, 2012 (LBO) – Sri Lanka stocks closed down 0.60 percent Tuesday with some of the blue chip stocks losing ground. Index heavy John Keells Holdings PLC slipped 2.40 rupees to close at 225.10 rupees down 1.05 percent. Dialog Axiata dropped 0.10 cents to close at 9.00 rupees down 1.10 percent. The Colombo All […]