Author: lbostgadmin
Swiss GSP facility is underutilized by Lankan exporters: Envoy
May 21, 2015 (LBO) – Sri Lankan exporters are currently underutilizing the Swiss GSP facility given to the country, a Swiss envoy said. Livia Leu, Ambassador Delegate of the Federal Council for Trade Agreements of Switzerland who visited the Ceylon Chamber of Commerce this week asked Sri Lankan exporters to take maximum use of their […]
”/Stable
Mar 21, 2015 (LBO) – Sri Lanka’s Fitch Ratings Lanka has affirmed Sanasa Development Bank PLC’s (SDB) National Long-Term Rating at ‘BB+(lka)’ with a stable outlook. The full report is reproduced below :- KEY RATING DRIVERS The rating captures SDB’s high exposure to the retail and lower-end SME segments, its weak asset quality, and pressure […]
Huawei unveils new smart phone “Honor range” in Sri Lanka
May 21, 2015 (LBO) – Huawei Sri Lanka, unveiled three of its latest Honor range smartphones at a launch ceremony held in Colombo Wednesday.The launch saw mid-market smartphones, with features on par with high-end smartphones, namely, the Huawei Honor G Play, Honor 4X and Honor 6 Plus, being introduced to the local market.The launch of […]
Sri Lanka’s troubled Kalpitiya Beach Resort points finger at former regime
May 21, 2015 (LBO) – Sri Lanka’s Kalpitiya Beach Resort, a subsidiary of Citrus Leisure PLC, has said that the hotel project was held back due to former government incompetency to attract occupancy and build tourism infrastructure. In 2011, Kalpitiya Beach Resort has raised 283.5 million rupees from an initial public offering stating that the […]
‘s NDB to go ahead with Rs10bn debenture issue
May 21, 2015 (LBO) – Sri Lanka’s National Development Bank plans to sell up to 10 billion rupees of unsecured debentures, subject to regulatory approval, the Bank said in a stock exchange filling.The bank said it had upsized the issue from the previously decided 7.5 billion rupees of debt, with an option for a further […]
Sri Lanka to face challenges in debt financing through global capital markets: Razeen Sally
May 21, 2015 (LBO) – Sri Lanka capital markets will have to face a tough time ahead in debt financing through global capital markets, an economist said.Razeen Sally an Associate Professor at the Lee Kuan Yew School of Public Policy, National University of Singapore speaking at the 62nd LBR LBO CEO forum held Wednesday pointed […]
Sri Lanka turns down no confidence motion against Governor and bribery head
May 21, 2015 (LBO) – Sri Lanka’s Speaker of the Parliament, Chamal Rajapakse Wednesday turned down the opposition request to pass no –confidence motion against Arjuna Mahendran, the governor of the Central bank and Dilrukshi Wickremasinghe, Director General of the Bribery Commission. “An existing committee should conduct the initial investigation and the findings, along with […]
Sri Lanka’s Parliament to be dissolved soon : President
May 20,2015 (LBO) – Sri Lanka’s President Maithreepala Sirisena said that parliament will be dissolved soon after the establishment of the constitutional council in the the country. The new parliament will be in place by September this year, President said while addresing the media Wednesday morning.
Sri Lanka’s DFCC Vardhana Bank to issue debt
May 20, 2015 (LBO) – Sri Lanka, DFCC Vardhana Bank PLC, is to issue 50,000,000 subordinated and senior unsecured listed redeemable rated debentures at an issue price of 100 rupees per share, with a minimum of 20,000,000 debenture allotted to each type of debenture, the company said in a filing to Colombo Stock Exchange. The […]
Sri Lanka Treasury bill yields drop
Sri Lanka’s Treasury bill yields were down at Wednesday’s auction with 3-months yield dropped by 0.02 basis points and 6-month yields dropped by 0.03 basis points, data from the state debt office showed.It was decided to accept 11,129 million rupees from the auction of 03 month yield from received 18,628 million rupees worth bills.Treasury bills […]
Sri Lanka’s ex central banker calls for tec savy banks to suit modern customers
May 20, 2015 (LBO) – Sri Lanka’s banking sector needs to invest more in modern technology as the new generation is much more tech savvy, a former Central Banker said. “Most of the banks need to further introduce technology today.They were in the wave of technology that started in the 1990’s but now its 2015 […]
Sri Lanka needs to export, export and export: Ravi K
May 20, 2015 (LBO) – Sri Lanka’s new rulers said that the country needs to focus on exporting more products and services as the government’s strategy is to develop the local export market to be able to compate in the international areana. “Our thrust is to ensure that we have exports, exports and more exports,” […]