Author: lbostgadmin
Sri Lanka lets Australian hotelier back in after flag spat
COLOMBO, December 24, 2013 (AFP) – The Australian owner of one of the world’s most exclusive hotels was given temporary permission to return to his adopted Sri Lankan homeland Tuesday after being barred in a spat over the national flag. His portfolio includes the private Taprobane Island, whose guests have included pop stars Sting and […]
Capital Raising
Dec 24, 2013 (LBO) – Sri Lanka’s Amana Bank has received 1. 5 billion rupees of subscription for its initial public offer and would close on December 24, registrars to the issue said. The bank offered 214.3 million shares at 7.0 rupees and a further 71.5 million shares if the first tranche was fully taken […]
Rating Cut
Dec 24, 2013 (LBO) – Fitch Ratings has downgraded Sri Lanka’s Multi Finance Plc, a registered finance company by two levels to ‘B-(lka)’ on rising non performing loans. The firm was also place on negative watch at the new rating level. Fitch said the firm’s unprovided loan losses exceeded equity. Sri Lanka’s economy has been […]
Sri Lanka stocks close flat
Dec 24, 2013 (LBO) – Sri Lanka stocks close flat Tuesday with hotel and plantation stocks falling, brokers said. Sampath Bank closed 10 cents lower at 170.00 rupees and Aitken Spence closed 1.00 rupee higher at 101.00 rupees. Aitken Spence Hotel Holdings closed 30 cents higher at 65.50 rupees and Asian Hotels and Properties closed […]
Sri Lanka IMF rep gets warm send-off
Dec 23, 2013 (LBO) – Sri Lanka’s resident representative from the International Monetary Fund, Koshy Mathai got a warm send off from authorities in the island at the end of four years and the first completed program in the island’s history.“We had a good program, we had a very interesting outcome and after that we […]
Sri Lanka US$74mn water supply system deal to US firm
Dec 23, 2013 (LBO) – Tetra Tech Inc, a US based firm said it had won a 74 million US dollar contract from Sri Lanka to build a water supply and treatment plant. The US Export-Import Bank has received renewed impetus under Obama administration’s export drive. The US Export-Import Bank is financing the deal. Tetra […]
Hafeez all-round acts help Pakistan beat Sri Lanka
SHARJAH, December 22, 2013 (AFP) – Mohammad Hafeez demonstrated his all-round skills to guide Pakistan to a convincing 113-run win over Sri Lanka in the third day-night international on Sunday.The 33-year-old right-hander smashed a career best unbeaten 140 to steer Pakistan to an imperious 326-5 before Hafeez the bowler took 2-35 to dismiss Sri Lanka […]
Grave Discovery
COLOMBO, December 22, 2013 (AFP) – An unmarked mass grave has been found in Sri Lanka’s former war zone, the first discovery of an unmarked gravesite since troops defeated Tamil rebels more than four years ago, police said Sunday. The insurgency by the mainly Sinhalese JVP was unrelated to the separatist campaign in the north […]
Sri Lanka stocks end weaker
Dec 23, 2013 (LBO) – Sri Lanka stocks close in the red Monday with tobacco and diversified stocks falling, brokers said. Lanka Orix Leasing Company closed flat at 72.80 rupees and Aitken Spence closed 4.90 rupees higher at 100.00 rupees. Aitken Spence Hotel Holdings closed flat at 65.20 rupees and Asian Hotels and Properties closed […]
Sri Lanka will have to reverse de-liberalization for growth: Razeen Sally
Dec 20, 2013 (LBO) – Sri Lanka will have to reverse a recent trend of de-liberalization to spur growth to high levels and work towards greater macro-stability, which has been a chronic problem, a top international economist said. Protection for domestic business drives capital and factors of production towards inefficient tax arbitraging rent seeking businesses […]
Sri Lanka stocks close weaker
Dec 20, 2013 (LBO) – Sri Lanka stocks close down Friday with diversified and insurance sector stocks falling, brokers said. Aitken Spence Hotel Holdings closed 1.70 rupees lower at 65.20 rupees and Asian Hotels and Properties closed 60 cents higher at 64.00 rupees. DFCC closed 2.00 rupees higher at 128.00 rupees and NDB closed flat […]
LBR LBO Debrief – “Economic Outlook 2014” – 19th December 2013
Topic: A concise overview of what one can expect in global economy, key economies and in Sri Lankan economy. Date/Time: Tuesday, 19th December 2013 | 0900 – 1300 HRS Venue: Oak Room, Cinnamon Grand Host: Lakshaman Bandaranayake | Founding Publisher, Director | Lanka Business Online Inquiries: Lakshaman Bandaranayake | lakshaman@lbo.lk | General | debrief@lbo.lk Registration fee: Rs […]