Author: lbostgadmin
Sri Lanka stocks close up 0.4-pct
Mar 06, 2014 (LBO) – Sri Lanka’s stocks close 0.43 percent higher Thursday with index heavy John Keells Holdings extending gains, brokers said. Ceylon Tobacco Company closed flat at 1,120.00 rupees and Distilleries closed 80 cents lower at 204.20 rupees. DFCC bank closed 1.90 rupees higher at 144.10 rupees and NDB Bank ended 1.00 rupee […]
Sri Lanka insurance sector needs consolidation push: Presidential advisor
Mar 05, 2013 (LBO) – Sri Lanka’s insurance sector may need a regulatory push for mergers as another regulatory driven move splits general and insurance business, an influential head of an insurance firm has said.“While appreciating this effort, I am hopeful that the remaining issues on tax credits and stamp duty on property transfers will […]
‘ AIA Insurance unit discloses values ahead of split
Mar 05, 2014 (LBO) – Sri Lanka’s AIA Insurance Lanka Plc said it had valued its general insurance business ahead of a split of life and non-life divisions under a regulatory requirement in the third quarter of 2014.AIA Insurance Lanka said it was using its “best and reasonable endeavors to brief shareholders of a possible […]
Investment Chat
Mar 05, 2014 (LBO) – Sri Lanka’s Union Bank is talks with a foreign investor, TGP Asia VI L.P, for a possible sale of shares, the firm said in a stock exchange filing.The bank said it had received a “non-binding indicative term sheet governing further negotiations” over a share sale from TGP Asia. Any final […]
Sri Lanka stocks close flat; rupee pegged
Mar 05, 2014 (LBO) – Sri Lanka’s stocks close flat Wednesday with index heavy stocks ending on thinner gains and the rupee was kept pegged at 130.60/65 preventing an appreciation, brokers and dealers said. The Colombo benchmark All Share Price Index closed 0.19 points lower at 5,936.43. The S&P SL20 closed 4.45 points lower at […]
‘s First Capital sells Rs500mn debentures
Mar 05, 2014 (LBO) – Sri Lanka’s First Capital Holdings Plc said it had raised 500 million rupees from a debt issue which was oversubscribed on the opening day. The company offered 5 million senior, unsecured, redeemable debentures of 100 rupees each. “We are greatly encouraged by the investor confidence implicit in the extremely positive […]
” rating confirmed: Fitch
Mar 05, 2014 (LBO) – Fitch Ratings said it had confirmed a ‘BBB(lka)’ rating of Sri Lanka’s HDFC Bank, a mortgage lenders, with stable outlook. Fitch said the rating reflected a 51 percent ownership of the state which is expected to bring support. The ratings could be affected if it is merged or acquired by […]
Sri Lanka Treasuries yields steady
Mar 05, 2014 (LBO) – Sri Lanka’s short term Treasuries yields eased slightly while the 12-month yield was unchanged at 7.07 percent at Wednesday’s auction, data from the state debt office showed. The debt office sold 01 billion rupees of 3-month bills, 7.7 billion rupees of 6-month bills and 18.2 billion rupees in 12-month bills […]
Sri Lanka consumer durables group profits plunge in December
Mar 04, 2014 (LBO) – Profits at Singer Sri Lanka Plc, a consumer durables retailer, fell 71 percent to 93 million rupees in the December 2013 quarter from a year earlier, but sales are no longer shrinking, the firm said. The group reported earnings of 74 cents per share. For the full year to December […]
Sri Lanka central bank plugs IFRS disclosure hole
Mar 04, 2014 (LBO) – A directive by Sri Lanka’s central bank has plugged a hole in newly introduced International Financial Reporting Standards (IFRS) which made accounts of banks opaque and confused the general public and even analysts. Under IFRS, banks which were earlier disclosing total non-performing loans and deposit with break downs to the […]
Free trade deal will open new avenues for BIMSTEC region: Sri Lanka President
Mar 04, 2014 (LBO) – A free trade deal that is being negotiated in countries bordering the Bay of Bengal, will open new avenues for co-operation, Sri Lanka’s President Mahinda Rajapaska said meeting of the regional grouping.ASEAN is usually looked upon as an example of a successful regional organization. ASEAN (the Association of South East […]
US resolution on Sri Lanka filed at UN – Update
COLOMBO, March 4, 2014 (AFP) – A US-led resolution calling for an international probe into allegations that 40,000 civilians were killed at the end of Sri Lanka’s separatist war has been filed with the UN’s top rights body. The resolution is “totally based on information of questionable veracity”, the monks said in a petition to […]