Author: lbostgadmin
Sri Lanka stocks close up 0.4-pct
Feb 29, 2012 (LBO) – Sri Lanka’s stock closed up 0.49 percent Wednesday, with turnover boosted by the change of control of motor dealers, though market participants are still getting used to a new trading system, brokers said. The Colombo All Share Index rose 0. 49 percent to 5,458.09 points up 26.42 points while the […]
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Feb 29, 2012 (LBO) – Fitch Ratings Lanka has lowered Lanka Orix Leasing Company’s rating from ‘A-(lka)’ to ‘BBB+(lka)’ with a negative outlook with a similar cut in outstanding senior unsecured debentures. The rating is still in the investment grade. Fitch said the downgrade came from a “higher appetite for market risks” at the holding […]
Sri Lanka Commercial Leasing and Finance outlook cut
Feb 29, 2012 (LBO) – Sri Lanka’s Fitch Ratings has cut the outlook on Sri Lanka’s Commercial Leasing and Finance (CLC) to ‘negative’ from ‘stable’ but confirmed its underlying rating at ‘A-(lka)’. Fitch said CLC could be relied upon for support from its parent Lanka Orix Leasing Company if required which had a rating one […]
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Feb 29, 2012 (LBO) – Fitch Ratings has confirmed an ‘A-(lka) rating of Lanka Orix Finance Plc (LOFIN) saying it reflected its strong franchise among registered finance companies and is satisfactory financial profile. Fitch said a negative outlook on the rating came from a heightened risk profile of its parent, Lanka Orix Leasing Company Plc. […]
Sri Lanka Treasuries yields up, bonds lower
Feb 29, 2012 (LBO) – Sri Lanka’s Treasuries yields rose across maturities at Wednesday’s auction though bond yields were pushed down by state managed fund, ahead of a 51 billion rupee rollover due on Thursday, dealers said. The state debt office said the 3-month yield rising 30 basis points to 9. 81 percent, the 6-month […]
Sri Lanka may see tyranny of markets to be worse than IMF, World Bank
Feb 28, 2012 (LBO) – The pain imposed by the tyranny of markets could be much greater than adjustments caused by the International Monetary Fund or World Bank, an economist has warned. The Ceylon Electricity Board, which had to generate large amounts of thermal power from the second quarter of 2011 due to failed rains […]
Sri Lankan should flag social issues creatively: Bangladesh photo activist
Feb 28, 2012 (LB) – Bangladesh photographer, activist and social entrepreneur Shahidul Alam, challenged Sri Lankans to think creatively to flag social issues that grips the developing world. Driven by largely autocratic governments, developing nations like Sri Lanka battle veiled censorship, subtle military rule and commercial pressure that often suppress unsavoury topics. “Don’t let those […]
Sri Lanka Lankem retains A-/P2 ratings
Feb 28, 2012 (LBO) – RAM Ratings Lanka has confirmed Lankem Ceylon PLC™s long- and short-term corporate credit ratings of A- and P2. RAM Ratings Lanka has also confirmed the A- long-term issue rating of Lankem™s 500 million rupee unsecured unsubordinated redeemable debentures. “The outlook on the long-term ratings is stable,” a statement said. “The […]
Bank Boss
Feb 28, 2012 (LBO) – Sri Lanka’s Commercial Bank said Ravi Dias, its deputy chief executive, would take over as managing director and chief executive of the bank on the retirement of incumbent Amitha Gooneratne in April 2012. A statement said Dias was appointed acting chief executive from Monday, February 27, as Gooneratne is on […]
Bank Trend
Feb 28, 2012 (LBO) – Sri Lanka’s Commercial Bank said December 2011 quarter net profit rose 12 percent to almost two billion rupees from a year ago with sharp gains in foreign exchange income while interest income fell. A stock exchange filing said interest income grew 10 percent to 10 billion rupees and interest expenses […]
Sri Lanka shares end down 0.8-pct
Feb 28, 2012 (LBO) – Sri Lankan share prices fell Tuesday for the second day after a seven-day rally, with turnover boosted by large deals in Aitken Spence, brokers said. The main All Share Price Index closed down 0.82 percent (44.92 points) at 5,431.67, while the more liquid Milanka index fell 0.71 percent (33.96 points) […]
Sri Lanka Hayleys knitting mill no longer rated: Fitch
Feb 28, 2012 (LBO) – Fitch Ratings said it was withdrawing Hayleys MGT Knitting Mills Plc’s ‘BBB(lka)’ rating soon after it stopped ratings its parent, Hayleys Plc. “Fitch Ratings Lanka has withdrawn Hayleys MGT Knitting Mills PLC’s (HMGT) ‘BBB(lka)’ National Long-Term rating with a Negative Outlook,” Fitch said in a statement. “On the basis of […]