Author: lbostgadmin
Sri Lanka hosts trade facilitation forum
Mar 30, 2012 (LBO) – Sri Lanka Export Credit Insurance Corporation and the Commonwealth Secretariat is hosting a trade facilitation and export seminar in Colombo, its organizers said. The Commonwealth Secretariat is an intergovernmental agency which facilitates co-operation among Commonwealth nations and advises on policy. A study conducted in 2009 by the Commonwealth Secretariat on […]
Sri Lanka Mackwoods Energy share issue draws almost Rs400mn
Mar 30, 2012 (LBO) – The Initial Public Offering of Sri Lanka’s Mackwoods Energy Limited that was oversubscribed on the opening day has drawn applications worth almost 400 million rupees, a stock exchange filing said. The IPO was an offer for subscription for 25 million ordinary voting shares at 14 rupees each, to raise a […]
Sovereign Influence
Mar 30, 2012 (LBO) – Fitch Ratings has confirmed Sri Lanka Telecom’s (SLT) long-term foreign-currency and local-currency issuer default ratings (IDRs) at ‘BB-‘ and its national long-term rating at ‘AAA(lka)’. The outlook on the ratings is stable, the rating agency said in a statement. “SLT’s IDRs are constrained by the respective sovereign IDRs of ‘BB-‘. […]
Sri Lanka tea crop hit by bad weather
Mar 30, 2012 (LBO) – Tea production in Sri Lanka has been reduced by bad weather with crops in other key origins like Kenya and India also down for the same reason, brokers said. “Due to the extremely hot and humid conditions, plantations are experiencing dwindling intakes,” tea brokers John Keells said. “It is reported […]
Sri Lanka shares end up 0.4-pct
Mar 30, 2012 (LBO) – Sri Lankan shares closed slightly firmer Friday in somewhat choppy trade, brokers said. The main All Share Price Index rose 0. 35 percent (19.05 points) to 5,431.09, while the more liquid Milanka index fell 0. 13 percent (6.52) to close at 4,897.54. Turnover was 789 million rupees, according to stock […]
‘s Godrej Properties to sell shares at Rs575
MUMBAI, March 29 (AsiaPulse) – Godrej Properties (BSE:533150) on Monday fixed the price for its issue of shares to institutional investors at Rs 575 a share, the lower end of the price band, and would raise up to Rs 471 crore (US$92.8 million) for reducing debt and acquiring projects. The share price fell by 3.38 […]
Sri Lanka tea prices recover
Mar 29, 2012 (LBO) – Prices of Sri Lankan tea, especially those grown at low elevations, perked up at this week’s auction, giving some relief to producers battered by rising costs and reduced demand in key markets. “The 3.0 million kilos of low grown teas that came under the hammer this week met with excellent […]
Board Change
Mar 29, 2012 (LBO) – Sri Lanka’s Pan Asia Banking Corporation (PABC) said its chairman A G Weerasinghe will step down from April 02 and will be replaced by Nimal Perera. Weerasinghe will remain a director. Eshana De Silva has been appointed deputy chairman and Anthony page as senior director also from April 02, the […]
Rail Links
Mar 29, 2012 (LBO) – Sri Lanka’s is studying the building of a new railway track to the east of the country and also extend another rail track to Hambantota in the South, minister Lakshman Yapa Abeywardene said. He said the cabinet of ministers had asked the Central Engineering Consulting Bureau, a state agency to […]
Sri Lanka shares becalmed
Mar 29, 2012 (LBO) – Sri Lankan shares were barely changed Thursday with some interest seen in financial services and trading volumes picked up from low levels, brokers said. The main All Share Price Index fell 0. 09 percent (4.78 points) to 5,411.79, while the more liquid Milanka index rose 0.52 percent (25.60) to close […]
Sri Lanka rupee gains after opening
Mar 29, 2012 (LBO) – Sri Lanka’s rupee gained against the greenback Thursday to strengthening to as much as 128. 25/50 rupees after opening at 129. 30/40 levels, dealers said. The rupee also closed stronger Wednesday, at 129. 30/40 levels after opening weaker at 129. 80/130.00 rupees against the US dollar. Sri Lanka has upped […]
Sri Lanka rupee strengthens as credit weakens
Mar 29, 2012 (LBO) – Sri Lanka’s rupee closed at 127. 75/85 against the US dollar after opening at 129.30/40 dealers said, with data indicating that a credit bubble which put pressure on the peg is breaking. Rupee liquidity from dollar purchases has risen from 6.7 billion rupees on March 14 to 26 billion rupees […]