Author: lbostgadmin
Consolidation
Oct 01, 2014 (LBO) – Sri Lanka’s regulator driven consolidation is on track with eight banks and non-bank lenders given approval for mergers and recapitalization during September 2014, the Central Bank said. Another eight banks and non-bank lenders have completed internal processes to allow them to submit the plans, the regulator said. A total of […]
Sri Lanka stocks close up 0.6-pct
Oct 01, 2014 (LBO) – Sri Lanka’s stocks closed 0.56 percent higher with telco and diversified stocks gaining amid net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 40.94 points higher at 7,293.08, up 0.56 percent. The S&P SL20 closed 26.81 points higher at 4,065.11, up 0.66 percent. Turnover was 2.65 […]
Sri Lanka rejects all treasury bids
Oct 01, 2014 (LBO) – Sri Lanka has rejected all treasury bids at a weekly auction on Wednesday, the government’s debt office said.The debt office which is part of the island’s central bank said it has offered 1.5 billion rupees in 6-month bills and 4.5 billion rupees in 12-month bills. The office did not offer […]
’s Mihin to expand routes, frequencies
Sep 30, 2014 (LBO) – Sri Lanka’s state-run budget carrier Mihin Lanka plans to add destinations and increase frequencies on existing route as it plans to meet the growing demand for flights due to an increase in tourism and trade.TThe state-owned airline plans to start flights to Lahore in Pakistan where the airline says has […]
’s LOLC Leisure re-branded as Browns Hotels and Resorts
Sep 30, 2014 (LBO) – Sri Lanka’s Lanka Orix Leasing Company Leisure, a hotel company rebranded as Brown Hotels and Resorts, Brown Investment PLC said in a media release. LOLC will continue to be the holding company for the Browns group, the company said in the media release. LOLC Leisure is the controlling shareholder of […]
Sri Lanka stocks close up 0.2-pct
Sep 30, 2014 (LBO) – Sri Lanka’s stocks closed 0.19 percent higher with conglomerate John Keells Holdings gaining despite continued strong foreign selling, brokers said. Dunamis Capital closed 1.40 rupees lower at 37.50 rupees and Janashakthi Insurance closed 40 cents lower at 23.70 rupees, attracting most number of trades during the day. Foreign investors bought […]
Greece Bonds
Sep 29, 2014 (LBO) –Sri Lanka’s Supreme Court dismissed the Fundamental Rights application filed by Mr Sujeewa Arjune Senasinghe of Colombo 3 against the Monetary Board complaining that the Central Bank, in purchasing Greece Government Bonds, had acted in an unlawful, irresponsible and an arbitrary manner, Central Bank said in a media release. This decision […]
More paths
Sep 29, 2014 (LBO) – Sri Lanka’s UB finance to open more avenues to improve the small and medium sector and the lifestyle of the people, the company said in a media release. UB finance, a financial service solution provider is a subsidiary of Union Bank of Sri Lanka. In the coming year, UB Finance […]
Appointment
Sep 29, 2014 (LBO) – Sri Lanka’s Union Bank was appointed as a primary dealer in government securities in terms of the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance by the Central Bank, the bank said in a media release. Union Bank will commence its business on 1st of October, 2014.
Sri Lanka stocks close higher
Sep 29, 2014 (LBO) – Sri Lanka’s stocks closed higher with the turnover crossing 3.4 billion rupees mark despite strong foreign selling, brokers said. Foreign investors bought 375.47 million rupees worth shares while selling 2.27 billion rupees worth shares. Lion Brewery Ceylon closed 14.50 rupees higher at 630.10 rupees and People’s Leasing and Finance closed […]
ADB urges Asia to take advantage of global value chain opportunities
Sep 26, 2014 (LBO) – Asian economies, having reaped substantial gains from global value chains in the past 25 years, can extend these gains if governments and business work together to reduce tariffs and non-tariff trade barriers, and improve logistics and transport infrastructure, says a new Asian Development Bank (ADB) report. •GVCs thrive only where […]
Sri Lanka to get $800mn ADB loan to upgrade rural road links
September 26, 2014 (LBO) – Sri Lanka to get 800 million US dollar loan facility which approved by Asian Development Bank yesterday to fund rural and national road upgrades in six provinces in order to improve access of remote communities to markets, services, and jobs, the bank said in a media release. Providing all-weather road […]