Author: lbostgadmin
‘s subordinated debt final A+(lka)
Fitch Ratings Lanka has assigned Hatton National Bank PLC’s (HNB; AA-(lka)/Stable) proposed Basel II-compliant subordinated debentures of up to LKR6bn a final National Long-Term Rating of ‘A+(lka)’. The assignment of the final rating follows the receipt of documents conforming to information already received. The final rating is the same as the expected rating assigned for […]
Sri Lankan rupee steady; exporter dollar sales offset bank buying
Oct 13, 2016 (Reuters) – The Sri Lankan rupee traded steady on Thursday as two state banks bought dollars sold by exporters, in the absence of any intervention by the central bank, dealers said. The spot rupee, which was active on Thursday, was steady at 146.90/95 per dollar at 0733 GMT. The spot rupee is […]
‘s Rebrab to build euro 150 mln sugar refinery in Sri Lanka
Oct 13, 2016 (LBO) – The ninth wealthiest businessman in Africa, and the founder of Cevital, Issad Rebrab, will invest in Sri Lanka in a sugar refinery and a vegetable oil plant in the Southern Province, the Daily News reported. Fortune 500 ranked Rebrab said Cevital will invest 150 million Euros to build the sugar […]
Foreign Minister meets UN Under-Secretary General Dr. Akhtar
Minister of Foreign Affairs Hon. Mangala Samaraweera met with Dr. Shamshad Akhtar, Under-Secretary General of the United Nations and Executive Secretary of the Economic and Social Commission for Asia and the Pacific (UNESCAP) at the Ministry of Foreign Affairs yesterday, 12 October 2016.
Sri Lanka to provide adjustment package for FTA trade disruption
Oct 13, 2016 (LBO) – Sri Lanka will introduce a trade adjustment package for local industrialists in order to face possible trade disruptions that may occur during the initial stages of upcoming free trade agreements, a senior minister said. International Trade Minister Malik Samarawickrama said they are negotiating new FTAs with an open mind but […]
Asia stocks weak with Dec rate hike still on cards
HONG KONG, Oct 13 (Reuters) – Asian stocks held near three-week lows and the greenback consolidated recent gains on Thursday after minutes of the last U.S. Federal Reserve policy meeting indicated a December rate increase was still on the cards. Risk appetite waned, with MSCI’s broadest index of Asia-Pacific shares outside Japan easing 0.2 percent, […]
‘s Belluna in USD 50mn real-estate project
Oct 12, 2016 (LBO) – Sri Lanka’s Asia Capital and Japanese Belluna company announced the launch of an apartment development project with an investment of 50 million US dollars in Colombo, Wednesday. “This joint project cements the strong bond that both companies have in creating a new paradigm in local and foreign joint venture projects […]
Social, environmental considerations a must in trade: World Export forum
Oct 12, 2016 (LBO) – Trading countries should look at multilateral levels with regional trade agreements alongside transformation in investment, trade and services, an official said at the World Export Development Forum in Colombo on Wednesday. “The trade agreements of the 21st century must respond to the economic and social realities of the century,” said […]
Sri Lankan rupee edges up on exporter dollar sales; shares down
Oct 12, 2016 (Reuters) – The Sri Lankan rupee edged up on Wednesday as dollar selling by exporters outpaced importer demand for the greenback ahead of the festive season in December, while moral suasion by the central bank prevented the local currency from falling, dealers said. The spot rupee was quoted at 146.85 per dollar […]
Sri Lanka GSP plus talks to commence in Brussels: PM
Oct 12, 2016 (LBO) – Sri Lankan premier Ranil Wickremesinghe said that he will be traveling to Brussels shortly for the Generalized System of Preferences (GSP) plus negotiations. “I am traveling to Brussels on Saturday to begin talks on restoring GSP plus,” Wickrememsinghe said at the inauguration of the World Export Development Forum in Colombo, […]
Australia launches program to support Sri Lankan women in local government
Australia’s Ambassador for Women and Girls, Ms Natasha Stott Despoja AM, today launched an Australian-funded program to support the new quota for female representation in local government. “Supporting women in leadership is a priority for Australia, in our foreign policy and overseas aid program”, said Ambassador Stott Despoja during her first formal visit to Sri […]
Asia shares slip as US earnings disappoint, dollar gains
TOKYO, Oct 12 (Reuters) – Asian shares flirted with three-week lows on Wednesday after a dour start to Wall Street’s corporate earnings season knocked U.S. stocks, while the dollar and Treasury yields rose on growing expectations of a U.S. rate hike in December. The British pound jumped back from lows in a volatile trading session […]