Author: lbostgadmin
Millions of Bangladeshi apparel workers need bank accounts: IFC
June 22, 2012 (LBO) – International Finance Corporation, a member World Bank arm has said 86 percent of three million apparel sector workers in Bangladesh did not have bank accounts, potentially opening up a large new market for banks. “This report shows that there is a considerable opportunity in offering a range of financial services […]
No Sri Lankans among rescued from stricken refugee boat: foreign ministry
June 22, 2012 (LBO) – There were no Sri Lankans among more than 110 people rescued from a capsized refugee boat by Australian authorities, the foreign ministry said. Australian and Indonesian authorities are continuing to search for around 90 other still believed missing from the boat, the foreign ministry said. Sri Lanka’s foreign ministry said […]
Next Wave
June 22, 2012 (LBO) – Sri Lanka’s banks have to be ready to finance infrastructure when the state is expected to woo private capital into toll roads and ports in the next few years, an investment banker said. Several foreign firms have made proposals. The government is already tapping commercial banks for infrastructure finance through […]
Sri Lankan stocks down 0.05 percent
June 22, 2012 (LBO) – Sri Lankan stocks dipped 0.05 percent on Friday, despite big ticket deals in John Keells Holdings, Commercial Bank, Seylan Bank and Central Finance, brokers said. Central Finance PLC, one of the country’s oldest finance companies, fell 80 cents to 135.00 rupees on trades of 592,959 shares. A large parcel of […]
Sri Lanka’s battered currency might see some respite: report
June 22, 2012 (LBO) – Sri Lanka’s currency is expected to firm up later this year, while treasury yields could creep up on fiscal slippages, a report said, as the central bank looks for ways to tighten monetary policy. The Sri Lankan rupee has fallen by some 17 percent against the US dollar since the […]
Sri Lanka refugee boat capsizes off Australian island: report
June 21, 2012 (LBO) – A boat believed to have 200 people from Sri Lanka has capsized of Australia’s remote Christmas Island which reports day could become one of the worst refugee disasters in the country. Australia, a country of immigrants has tightened immigration barriers in recent years and followed a controversial policy of detaining […]
Sri Lanka Vietnam trade up 80-pct in first quarter
June 21, 2012 (LBO) – Trade between Sri Lanka and Vietnam had expanded 81 percent to 27. 6 million US dollars in the first quarter of 2012 from a year earlier, with a steep increase in Sri Lankan exports, a business association said. Mahesha Ranasoma, managing director, Dipped Products Plc was elected president of the […]
Conflict Debate
June 21, 2012 (LBO) – Sri Lanka’s Central Bank has denied that there was a regulatory conflict where a fund under its control bought bank stocks it regulated, following concerns raised by Standard and Poor’s, a rating agency. S & P said there were regulatory conflicts because the Monetary Board or the governing body of […]
Bank Soundness
June 21, 2012 (LBO) – Sri Lanka’s banking sector did not face high risks as assessed by Standard & Poor’s, the island’s Central Bank said in a detailed response to the rating agency’s ranking of Sri Lanka as a high risk economy for banks. The Central Bank said S & P’s statement was “is factually […]
Sri Lanka stocks close down 0.7-pct
June 21, 2012 (LBO) – Sri Lanka stocks fell 0. 7 percent Thursday ending losing some of the gains made earlier in the week, while the rupee was steady against the US dollar, brokers said. The main All Share Price Index fell 0. 71 percent (35.99) to 5,042.07, while the more liquid Milanka index closed […]
Sri Lanka selects Bank of America, Citi, HSBC, Barclays to sell sovereign bond
June 21, 2012 (LBO) – Sri Lanka has selected Bank of America, Citi, HSBC and Barclays Capital to sell sovereign bond of up to a billion US dollars this year, the Central Bank which raises debt for the Treasury said. In October, Sri Lanka’s maiden 500 million US dollar sovereign bond is maturing. State-run Peoples’ […]
‘s real estate growth slowed by interest rates, inflation: report
June 20, 2012 (LBO) – Growth in Sri Lanka’s real estate sector may slow in the coming months, as rising interest rates and higher construction costs begins to bite, a new report has forecasted. Sri Lanka is in the midst of a post-war property boom, with key real estate drivers centered around the leisure and […]