Author: lbostgadmin
Forex Loss
June 25, 2009 (LBO) – Sri Lanka’s Nations Trust Bank which had uncovered a forex loss in its books said the losses would be offset “to a great extent” by other operations of its Treasury. NTB said its June quarter financials will be published as early as possible in July. “The Bank has discovered a […]
Sri Lankan stocks down on profit taking
June 25, 2009 (LBO) – Sri Lankan shares closed 0.7 percent lower Thursday as investors continued to take profits from last three weeks bull-run, despite retail interest, brokers said. The benchmark Colombo All Share Price Index closed down 0.72 percent (17.57 points) to end at 2,422.37 while the Milanka index of liquid stocks fell 0.73 […]
Sri Lanka Treasuries yields fall across the board
June 25, 2009 (LBO) – Sri Lanka’s Treasuries yields fell across the board at an Auction Wednesday and the government raised 11.6 billion from an original offer to sell only 9.0 billion rupees of bills, the debt office said.The 3-month yield fell 15 basis points to 11.41 percent; the 6-month yield fell 53 basis points […]
Sri Lanka to plans high yield forex securities for expat workers
June 25, 2009 (LBO) – Sri Lanka’s government is planning a new high yield retail foreign exchange denominated security that will pay an attractive premium over London benchmark rates, targeting expatriate workers.“India did a successful issue of that nature some time ago, and we are studying it,” Central Bank governor Nivard Cabraal said. “We want […]
Sri Lanka to buy back debt
June 25, 2009 (LBO) – Sri Lanka’s public debt office has announced a ‘reverse auction’ to retire a part of the bonds maturing in August, which would help reduce bunching up of maturities, dealers said. The banking system is also flushed with liquidly from central bank dollar purchases.The government is offering to buy back 7.6 […]
Sri Lanka refugees get more EU aid
June 24, 2009 (LBO) – The European Commission is giving 5 million Euros to help mainly ethnic Tamil refugees held in camps in northern Sri Lanka, on top of 37 million euros of humanitarian aid to the island since 2007.The latest tranche will be given for relief organizations and UN agencies to help 280,000 refugees […]
Sri Lanka hosts meet to thwart terrorist nuclear ambitions
June 24, 2009 (LBO) – Sri Lanka is hosting a South Asia workshop organised with the United States to prevent terrorist groups from acquiring nuclear weapons or trafficking in nuclear materials, the foreign ministry said.The workshop, on the implementation of UN Security Council Resolution 1540 dealing with non-state actors and weapons of mass destruction (WMD), […]
Medical Market
June 24, 2009 (LBO) – Sri Lanka’s Asiri Surgical Hospital has launched a round-the-clock emergency care service targeting expatriate Sri Lankans who have relatives in the island, an official said.Ashok Pathirage, managing director, Asiri group, said the service was aimed particularly at Sri Lankans living and working overseas who had to care for elderly parents […]
Sri Lanka spruces up tourist attractions
June 24, 2009 (LBO) – Sri Lanka has launched an initiative to provide better access and facilities at tourist attractions in an effort to draw more visitors to the island, beginning to recover from 25 years of war. Tourism ministry secretary K A D George Michael said the government had allocated funds to improve basic […]
Equity Control
June 24, 2009 (LBO) – There would be more interest in Sri Lanka’s Seylan Bank if a larger equity stake than one third is offered to a strategic investor, the head of cash-rich NDB Bank which dropped out of the race said. “The environment today is different,” says Wickramaratne. “Today we have a – relatively […]
Procedural Probe
June 24, 2009 (LBO) – Sri Lanka’s Nations Trust Bank, a unit of the John Keells Holdings group, is probing a breach of operating procedure, but the bank is on track to meet half year profit targets, an official said. NTB’s voting stock fell 2.25 to 32.00 rupees Wednesday amid concerns among investors that profits […]
Sri Lankan stocks close flat
June 24, 2009 (LBO) – Sri Lankan shares closed flat Wednesday despite bank stocks losing ground on profit taking, brokers said. The benchmark Colombo All Share Price Index closed up 0.01 percent (0.23 points) to end at 2,439.94 while the Milanka index of liquid stocks fell 0.64 percent (17.39 points) to close at 2,716.29, according […]