Author: lbostgadmin
Online Trading
Mar 06, 2012 (LBO) – IronOne Technologies, a Sri Lanka based firm said its online trading system used at 15 out of 22 brokers has been connected to an upgrade to the Colombo Stock Exchange’s new automated trading system. It also makes software for banking, insurance, telecom sectors which are also available on on Apple […]
Bank Rating
Mar 06, 2012 (LBO) – Fitch Ratings has confirmed an ‘AAA(lka)’ national rating with a stable outlook for HSBC’s branch in Sri Lanka following an outlook downgrade of the main bank. Sri Lanka’s HSBC is a branch and is part of the same legal entity making up HongKong & Shanghai Banking Corporation Limited, which has […]
Capital Boost
Mar 06, 2012 (LBO) – Sri Lanka’s listed Sampath Bank is planning to issue subordinated debt to boost its regulatory capital by at least 5. 0 billion rupees during the second quarter of 2012, chief executive Aravinda Perera said. At standalone bank level Sampath made profits of 3. 81 billion rupees in 2011 up 15.6 […]
Merchant Rating
Mar 06, 2012 (LBO) – Sri Lanka’s People’s Merchant Plc’s (PMP) ‘BB+(lka)’ national rating has been confirmed by Fitch Ratings with a stable outlook. The rating reflected the support that would be forthcoming if required from its main shareholder stat-run People’s Bank (PB) which has been rated ‘AA(lka)’ with a stable outlook, Fitch said. “Fitch’s […]
Sri Lanka rupee gains after opening, overnight rates tighter
Mar 06, 2012 (LBO) – Sri Lanka’s rupee was quoted wide on opening at 121.70/122.10 against the greenback and gained slightly in late morning trade to 121.80/90 amid foreign bank selling while overnight rates were tighter, dealers said. The rupee closed around 121.95/122.05 Monday. Gilt backed repos were quoted around 8. 80/8.90 percent up about […]
Sri Lanka Treasuries yields up
Mar 06, 2012 (LBO) – Sri Lanka’s Treasuries yields rose across maturities at Tuesday’s auction with the three month yield going up the most at 31 basis points to 10. 11 percent, the state debt office said. The 6-month yield rose 24 basis points to 10.18 percent and the 12-month yield rose 15 basis points […]
Price Signals
Mar 05, 2012 (LBO) – Sri Lanka’s Gampaha district in the Western province bordering the capital Colombo was the area with the highest kerosene consumption with most of it going to factories, the finance ministry said. Though there was a widespread belief that kerosene is consumed by poor households with no electricity including houses of […]
Volkswagen India sales down 8-pct in Feb
NEW DELHI, March 5 (AsiaPulse) – Car-maker Volkswagen on Thursday posted a 7.74 per cent decline in its sales in India at 6,529 units for February. The company had sold 7,077 units in the corresponding period last year. Compact car ‘Polo’ and sedan ‘Vento’ continue to be the backbone for the brand, with a total […]
Southern Tech
Mar 05, 2012 (LBO) – Sri Lanka is building an information technology park in Suriyawewa in Hambantota in the island’s south, which is expected to be fully operational by 2016-2017, an official said. Reshan Devapura, head of Sri Lanka’s state ICT Agency said the IT park is being built on a 200 acre site. The […]
Sri Lanka stocks flat, bond yields higher
Mar 05, 2012 (LBO) – Sri Lanka stocks closed flat Monday with off-market deals in large cap firms helping turnover with market market participants still to be fully comfortable with a new trading system while bonds yields edged up, brokers said. In forex markets the rupee opened at 121.50 and weakened to 122.10/20 in late […]
‘s foreign owned bond holdings increase
Mar 05, 2012 (LBO) – Foreign investor holdings in Sri Lanka government bonds rose to 225 billion rupees in the week ending February 29, up from 212 billion rupees a week earlier, official data showed. Treasury bill holdings rose to 91 billion rupees from 84 billion rupees a year earlier, Central Bank data showed. The […]
” by RAM
Mar 05, 2012 (LBO) – RAM Ratings Lanka said it had given a ‘BBB-‘ rating with a stable outlook to a 500 million rupee senior redeemable debenture debenture to be sold by Softlogic Finance Plc. “The ratings are supported by SLF’s adequate asset quality, financial performance, capitalisation and liquidity, but tempered by its moderate funding […]