Author: lbostgadmin
Asset Quality
Sept 21, 2011 (LBO) – RAM Ratings Lanka has confirmed Sampath Bank’s long- and short-term financial institution ratings at AA and P1 with the long-term rating carrying a stable outlook. We also derive comfort from the Bank’s healthy internal capital-generation rate of 20.38% as at end-Dec 2010, which stands the best among its similar-rated peers. […]
Box Movements
Sept 21, 2011 (LBO) – Container cargo volumes at Sri Lanka’s Colombo port fell in July although still higher so far this year compared with the same period in 2010, with a noticeable downturn in transhipment traffic. The total number of containers fell 2. 6 percent in July 2011 to 354,054 TEUs (twenty-foot foot equivalent […]
Motor Move
Sept 21, 2011 (LBO) – The Sri Lankan agency for South Korea’s KIA Motors is to invest about a billion rupees in the next three years to expand its service facilities amid a surge in sales of sports utility vehicles. Imports of motor vehicles into the island surged after the government slashed import duties, some […]
Sri Lanka stocks end down 0.5-pct
Sept 21, 2011 (LBO) – Sri Lankan stocks slumped again Wednesday with the benchmark index slipping below the 6,800 point mark amid heavy trade in a newly listed firm and several off-market private deals, brokers said. The main All Share Price Index fell 0. 53 percent (36.26 points) to 6,792.31, while the more liquid Milanka […]
Sri Lanka Treasuries yields up
Sept 21, 2011 (LBO) – Sri Lanka’s Treasury bill yields edged up across maturities and Wednesday’s auction, with the 3-month yield up 3 basis points to 7. 14 percent, data from the state debt office showed. On Wednesday authorities weakened the peg 10 cents to 110. 20 rupees in the spot market. The 6-month yield […]
Sri Lanka Tamil protesters ask for probe into war crimes allegations
GENEVA, September 19, 2011 (AFP) – Tamils from across Europe demonstrated at the UN’s European headquarters on Monday, calling for a probe into alleged war crimes committed by Sri Lanka at the end of the country’s 2009 civil war. According to local police, around 1,000 protesters gathered in Geneva’s iconic Place des Nations, to urge […]
Tele Trend
Sept 20, 2011 (LBO) – Sri Lanka’s mobile users grew 14. 5 percent to 18.1 million in the second quarter of 2011 from a year earlier down from an 18. 5 percent expansion seen in the first quarter, official data showed. Wireless fixed usage contracted 2. 5 percent to 2.68 million in the second quarter […]
Sri Lanka tea plantations seen making losses
Sept 20, 2011 (LBO) – Sri Lankan tea crops and prices have fallen below those of last year imposing losses on plantations whose costs also went up with a recent wage hike, a broker has said. The ‘Uva’ quality season when teas grown on the eastern slopes of the island’s central hills yield their best […]
Sri Lanka stocks end down 0.7-pct
Sept 20, 2011 (LBO) – Sri Lankan stocks closed down Tuesday with a sharp increase in the price of an insurer control of which changed hands recently and continued trading in shares that had drawn speculators, brokers said. The main All Share Price Index fell 0.72 percent (49.23 points) to 6,821.69, while the more liquid […]
Sri Lanka accepts more cash through auction
Sept 20, 2011 (LBO) – Sri Lanka’s central bank accepted 20 billion rupees at 7. 08 percent from banks at an open market auction Tuesday as excess reserve in the island’s banks continued to decline amid forex sales to defend a dollar peg. Sri Lanka has a policy corridor of 7. 0 to drain excess […]
Sri Lanka will not take all advice that is given: CB Governor
Sept 19, 2011 (LBO) – Sri Lanka will not take all economic advice that is given but chart its own course based on a longer term path, Central Bank Governor Nivard Cabraal said amid concern over continued defence of the island’s dollar peg. “We’ve got to be very clear to the public, to the economic […]
‘s labour unease
NEW DELHI, September 19, 2011 (AFP) – India’s top automaker Maruti Suzuki, already grappling with sliding sales, is in a test of nerves with its factory workers after production was hit by a dispute over alleged sabotage. Output at the Japanese-controlled firm’s Manesar plant in northern India has been thrown out of gear for three […]