Author: lbostgadmin
Four Ps
August 14, 2007 (LBO) – Marketing qualifications such as those offered by the Chartered Institute of Marketing offer good opportunities for job seekers in an expanding economy like Sri Lanka, a senior marketer said. Shiraz Latiff, chairman of the Chartered Institute of Marketing Sri Lanka Region, said that with only limited opportunities available to enter […]
No Call
August 14, 2007 (LBO) – The Finance Company (TFC), the flagship finance company of Sri Lanka’s Ceylinco group said it was putting off a cash call due to depressed market conditions. The firm’s company secretary P S Watson said in a stock exchange filing that the company had put off the cash for next year […]
Moderate Safety
August 14, 2007 (LBO) – Lanka Rating Agency (LRA) has confirmed the long-term rating of Sri Lanka’s LB Finance Ltd at BBB3, with a stable outlook. The short-term rating has also been confirmed at L3 An LRA statement said the ratings were based on LB Finance’s “improving financial performance and adequate asset quality” but were […]
Banking Profit
Aug 14, 2007 (LBO) – Sampath Bank said Tuesday group after tax profit rose 22.5 percent to 329.6 million rupees for the quarter ending June 30, 2007. The group’s income was up 42 percent to 4.3 billion rupees from 3.0 billion, according to its results released to the stock exchange. The group’s interest income rose […]
Sri Lanka port firm plans bond issue
August 14, 2007 (LBO) – Sri Lanka’s state-owned Ports Authority (SLPA) is planning an international bond issue to raise funds for new expansion projects and repay debt, its chairman Saliya Wickramasuriya said.“The inescapable fact at the moment, the most important thing to the port at the moment, is the ability of a bidder to ramp […]
Sri Lanka living standards improving despite negative feelings: CB Governor
August 13, 2007 (LBO) – Despite perceptions of a lack of a ‘feel good’ factor steady gains are being made in living standards, Sri Lanka’s central bank governor Nivard Cabraal said. “Since there are perceptions and claims that people do not feel economic development. Let me also trace a few indications,” Cabraal told the members […]
Sri Lanka can wipe out poverty in a generation with practical policies: development economist
August 13, 2007 (LBO) – If market reforms and globalization that brought prosperity to Sri Lanka’s Western Province could be replicated countrywide, extreme poverty could be eliminated in a generation, a development economist said. Many economists had pointed out that Sri Lanka is held back by policy errors, despite being rich in human, natural resources […]
Sri Lanka underdeveloped regions deserve better – economist
August 13, 2007 (LBO) – A senior Sri Lankan economist has called for a higher allocation of resources for less developed regions of the island and special perks like higher pay for teachers serving those areas. Nimal Sanderatne, former senior visiting fellow at the Post Graduate Institute of Agriculture of the Peradeniya University, said one […]
Maldives shrug off IMF red flag over Rufiyaa peg
August 13, 2007 (LBO) – The Maldives has shrugged off a red flag from the International Monetary Fund (IMF) that its currency peg with the US dollar was under threat from a record budget deficit and money printing. Sri Lanka’s external reserves have also been under pressure in recent months and the country is going […]
Bank of Japan to print 600 bln yen into banking system
TOKYO, Aug 13, 2007 (AFP) – Japan’s central bank announced Monday it will inject 600 billion yen (5.0 billion dollars) into the banking system to avert liquidity shortages after recent turbulence on global financial markets. The Bank of Japan had already pumped one trillion yen into the money market on Friday as part of a […]
World growing despite subprime crisis says Aussie CB after raising inflation forecast
SYDNEY, Aug 13, 2007 (AFP) – Australia’s central bank Monday said it saw global growth as strong despite the uncertainty created by the crisis in the US home loan market. The Reserve Bank of Australia (RBA) said rising delinquency rates in the US sub-prime housing market had resulted in a marked increase in volatility in […]
Japanese shares up 0.48 percent by lunch
TOKYO, Aug 13, 2007 (AFP) – Japanese share prices rose 0.48 percent in morning trade Monday after Wall Street staged a late recovery Friday, although investors remained nervous about US mortgage problems, dealers said. Mizuho Financial Group fell 1,000 yen or 0.1 percent to 706,000, but Shinsei Bank rose five yen or 1.3 percent to […]