Author: lbostgadmin
Citibank keeps its Triple A status.
Citibank N.A’s Sri Lankan unit has kept its AAA (sri) membership during a recent annual review conducted by Fitch Ratings Lanka.Citibank N.A’s Sri Lankan unit has kept its AAA (sri) membership during a recent annual review conducted by Fitch Ratings Lanka. The Triple A rating for Citibank’s unsecured senior debt reflects a very low expectation […]
Bond Travails
Treasury bond yields have climbed nearly 300 basis points in the last eight months since the Presidents takeover of three key ministries that led to elections and a UPFA government taking office.Bond dealers expect yields to climb further if the government goes on a spending spree funded through the banking system. rn rnA spending spree […]
Turning 50
Sri Lanka and the World Bank sealed half-a-century of cooperation on Friday by inking another large-scale development aid package.Sri Lanka joined the World Bank in 1950 and singed its first loan agreement with the International Development Bank on July 9, 1954. rn The loan for US $ 19.1 mn, was for the construction of the […]
Road Aid
The ADB will provide emergency aid to the tune of US$ 12.5mn to resuscitate southern roads drowned in floods.ldblquote ADB will provide emergency assistance amounting to US$12.5 million to help rehabilitate transport infrastructure damaged during severe flooding in southern Sri Lanka in May 2003, dblquote said a press release from the ADB on Friday. rnThe […]
Second Warning
Continuing its campaign against pyramid schemes, Central Bank is again warning the public that persons who buy a product, not for its own sake but expecting future returns from getting more enter the scheme, are not engaging in a simple trade transaction but a different type of game. “As the expectation of future returns is […]
Tightening Colombo
The government said Wednesday that it had beefed up security in and around Colombo after yesterdays bomb blast, but investors had lquote nothing to worry about as it was an isolated attack. ldblquote Security in and around Colombo has already been increased but investors have nothing to worry because there is no huge safety issue […]
Cash Is King
Given the recent yo-yo mood swings in the equities market, stockbrokers Asia Securities says punters should now focus on a companys cash reserves as a litmus test before investing.The market is presently highly volatile, low priced endash in absolute terms endash shares, with at times questionable earnings quality and balance sheet strength, and in view […]
Negotiable Brokering
A proposal to reduce transaction fees for equity investments is now being debated among regulators and stockbrokers. SEC Director General Palitha Silva Gunawardene has long been an advocate for negotiable brokerage.He says high transaction costs are among the many factors that keeps investors away from playing in the market.rn rnThe Colombo Stockbrokers Association is now […]
Debt Raising
Senkadagala Finance plans to shortly tap the market to raise up to Rs. 500 mn in debt to feed its growing leasing portfolio. The firms Managing Director Lakshman Balasuriya says the debenture will be listed, though the tenure and price have not been finalised yet.rn rnSenkadagalas unsecured senior debt was upgraded to BBB+ (sri) rating […]
Bomb in Colombo
The Colombo stockmarket reacted negatively to the Wednesday morning suicide bomb explosion that has so far left four dead and fifteen others in hospital,. The explosion took place when a female suspect taken in on suspicion blew herself up inside the Colpetty Police station.rn rnSecurity sources believe that the suicide bomber could have targeted Secretary […]
Colombo Rocks
The bomber was escorted to a police station opposite the US and British diplomatic missions after security guards prevented her from entering a ministry in the high-security area of Colombo, a military official said.rn “She was being questioned and about to be searched by two women police constables when the blast occurred,” the official told […]
Indian Bedfellow
John Keells Hotels will take its first steps into India, scouting for prospects in joint hotel and resort management in the neighbouring country.rnrn“We have been flirting with India and have been looking at it for the hotel sector for the past couple of years, even previously looking at beach properties in Goa,” Managing Director John […]