Author: lbostgadmin
Sri Lanka allows private helicopter operations in Colombo
May 22, 2012 (LBO) – Sri Lanka’s Deccan Aviation said it had established a privately run helipad in Colombo city after authorities relaxed rules that prevented civil aircraft approaching within 10 miles of the capital. Deccan Aviation said Sri Lanka’s Civil Aviation Authority and the Ministry of Defence have allowed private operators to establish eight […]
SriLankan Airlines raises US$175mn from Islamic loan
June 19, 2012 (LBO) – Sri Lanka’s state-run SriLankan Airlines had raised 175 million US dollars through an Islamic loan from banks in the United Arab Emirates chairman Nishantha Wickramasinghe said. Mashreq Bank lead managed the loan, with four other UAE based banks chipping in, which will give four year financing for Sri Lankan Airlines […]
Finance Awards
June 19, 2012 (LBO) – Sri Lanka’s Commercial Bank of Ceylon and Bank of America Merrill Lynch had clinched awards for the best bank and best foreign investment bank for Sri Lanka given by Finance Asia, a financial magazine. It also did a large equity investment banking deal arranging the sale of a stake worth […]
Banking Risks
June 19, 2012 (LBO) – Sri Lanka’s banking industry faces ‘very high’ economic and credit risk and the industry itself faces “very high risk” in its institutional framework amid regulatory conflicts, a rating agency has said. Standard & Poor’s, a rating agency gave Sri Lanka a score of ‘8’ on a scale where the highest […]
Sri Lanka stocks up 1.2-pct
June 19, 2012 (LBO) – Sri Lanka’s stocks closed up 1.2 percent Tuesday recovering lost ground with sharp gains in with hotel firms Citrus Leisure and Kalpitiya Beach showing the most gains, brokers said. The Colombo All Share Index rose 61 points to close at 5,059. 29 points with the Milanka Index of liquid stocks […]
Sri Lanka money markets reach policy rates
June 19, 2012 (LBO) – Sri Lanka’s money markets were tight Tuesday with gilt backed repos quoted at 9. 50/70 percent around the policy interest rate of 9.75 percent, for over a week, two months after the key rate was raised, official data showed. High short term rates discourage the holding of dollars by exporters […]
Sri Lanka warned to be careful about forex swaps by IMF
June 18, 2012 (LBO) – Sri Lanka should be careful about the inflationary effects of liquidity created by large foreign exchange swaps with the Central Bank, an International Monetary Fund official said. Analysts have warned that liquidity created by all central bank purchases for foreign exchange – including outright purchases – would flow out through […]
Sri Lanka economy grows 7.9% in first quarter: statistics office
June 18, 2012 (LBO) – Sri Lanka’s economy expanded by a slower 7.9 percent during the first quarter of this year, from the same period a year earlier, dragged down by a fall in farm output, the national statistics office said. The Indian Ocean Island’s economy has quickened at a rapid pace since Sri Lanka’s […]
Singlish Award
June 18, 2012 (LBO) – A British national living in Sri Lanka who is a part-time teacher and writer has been honored by Queen Elizabeth for his work on ‘Sri Lankan English’ which has its own peculiarities. He is now working on a trilingual learners’ dictionary of colloquial Sinhala, English and Tamil. Michael Meyler has […]
Top Bank
June 18, 2012 (LBO) – Sri Lanka’s state-run Bank of Ceylon, the island’s largest commercial bank has topped a trillion rupees (7. 6 billion US dollars) in assets by the end of May 2012, officials said. Chairman Gamini Wickramasinghe said a target for one trillion in assets and ten billion rupees in profits was set […]
Sri Lanka shares up 0.13 percent
June 18, 2012 (LBO) – Sri Lankan share prices nudged up 6.89 points, after falling some 51 points during intra-day trade, despite buying interest in selected stocks, brokers said. New entrant, Ramboda Falls, rose 14.10 rupees to 24.10 rupees on trades of 706,888 shares, on speculative buying interest, brokers said. Lanka Hospitals, gained 1.10 rupees […]
” rating confirmed
June 18, 2012 (LBO) – Sri Lanka’s Fitch Ratings has confirmed state-run National Savings Bank’s ‘AAA(lka)’ rating with a stable outlook based on continued state support for the bank and keeping to its mandate. “The rating action follows the halting and subsequent reversal of, a transaction by NSB to acquire shares in The Finance Company […]