Author: lbostgadmin
Sri Lanka investments sought by Maldives
Jan 25, 2012 (LBO) – The Maldives is seeking more investments from Sri Lanka and plans to set up an investment agency similar to Sri Lanka’s Board of Investment, officials said. “A lot of Sri Lankan products are coming to the Maldivian market – new brands are being introduced.” Niyaz said Sri Lankan investments in […]
Tablet Rise
TAIPEI, Jan 25 (AsiaPulse) – Tablet computers will contribute enormously to the worldwide semiconductor market by 2015 as different platforms compete to interest consumers, according to market intelligence firm Gartner Inc. Gartner forecasted that tablet semiconductor revenue will amount to US$20 billion (NT$604.5 billion) in 2015, compared with US$6 billion in 2011, ranking fourth behind […]
Sri Lanka hosts international tea meeting
Jan 25, 2012 (LBO) – Sri Lanka will host a key meeting of officials from major tea producing and consuming nations in a United Nations body next week, helping boost its image as it starts a global marketing campaign. The 20th Session of Food and Agriculture Organisation™s Inter-Governmental Group on Tea will meet in Colombo […]
Sri Lanka high rise to be managed by Hyatt: minister
Jan 25, 2012 (LBO) – State-run Sri Lanka Insurance Corporation will lead a consortium to invest and finish a half built high rise which the leisure group Hyatt has agreed to manage, economic development minister Basil Rajapaksa said. State-run Bank of Ceylon, People’s Bank and the state managed Employees Provident Fund and Employees Trust Fund […]
Asset Quality
Jan 25, 2012 (LBO) – RAM Ratings Lanka has upgraded the long- and short-term financial institution ratings of Citizens Development Business Finance (CDB) to BBB and P2 from BBB- and P3 with a stable outlook on the long-term rating. The rating agency has also upgraded the long-term rating of CDB’s 250 million rupee unsubordinated unsecured […]
Asset Base
Jan 25, 2012 (LBO) – Fitch Ratings has confirmed Sri Lanka’s Vallibel Finance’s (VFL) national long-term rating at ‘BB-(lka)’ with a stable outlook. “VFL’s rating factors in its small but growing asset base, healthy profitability and modest asset quality,” the rating agency said in a statement. “The rating is constrained by VFL’s modest capitalisation which […]
Sri Lanka stocks closed up 0.3-pct
Jan 25, 2012 (LBO) – Sri Lanka’s stocks closed up 0. 36 percent Wednesday with illiquid stocks which lost ground in recent days recovering some losses, in thin trading brokers said. The benchmark Colombo All Share Index closed up 20 points at 5,556 points and the Milanka Index of more liquid stocks rose 26 points […]
Sri Lanka Treasuries flat
Jan 25, 2012 (LBO) – Sri Lanka’s Treasuries yields were flat across maturities at Wednesday’s auction with 14.3 billion rupees of bills being sold, the state debt office said. The 3-month yield was flat at 8.67 percent with 8.6 billion rupees of bills sold and the 6-month month yield was flat at 8. 71 percent […]
‘s foreign reserves down 23.4-pct from peak in Nov
Jan 25, 2012 (LBO) – Sri Lanka’s foreign exchange reserves fell 23.4 percent to 6,201 million US dollars in November 2011 or 1,897.8 million US dollars from an end July peak, official data showed. The Central Bank said the trade deficit expanded 111 percent to 8.8 billion US dollars in the eleven months to November. […]
Sri Lanka ExpoAir resumes Jaffna flights
Jan 24, 2012 (LBO) – ExpoAir, a domestic aviation company in Sri Lanka, has decided to resume regular flights from the capital Colombo to the former northern war zone of Jaffna, targeting mainly business travellers. The company will operate twice daily flights using a new Cessna Grand Caravan 12-seater aircraft covering the distance in one […]
Tech Leader
Jan 24, 2012 (LBO) – MillenniumIT, a securities trading technology provider said it is expanding a software development complex in Sri Lanka with business volumes growing after it became part of the London Stock Exchange group. MillenniumIT was bought by the London Stock Exchange in 2009 now has a staff of 600 in Sri Lanka. […]
Sri Lanka bought leaf tea factory makes loss
Jan 24, 2011 (LBO) – Sri Lanka’s Tea Smallholder Factories Plc, a unit of John Keells Holdings said it lost a million rupees in the December 2012 quarter compared with a 41 million a year earlier, as revenues fell. . Revenues fell 17 percent to 510 million rupees in the quarter while cost of sales […]