Author: lbostgadmin
Sri Lanka stocks close lower
Nov 26, 2013 (LBO) – Sri Lanka stocks fell for the third consecutive day with diversified and property stocks losing ground amid foreign selling, brokers said. The Colombo benchmark All Share Price Index closed 27.66 points lower at 5,748.01, down 0.48 percent. The S&P SL20 closed 14.25 points lower at 3,168.69, down 0.45 percent. Turnover […]
Sampath Bank debentures oversubscribed
Nov 26, 2013 (LBO) – Sri Lanka’s Sampath Bank said a listed debt offer for 5.0 billion rupees had been oversubscribed Tuesday and is closing on the same day.The bank offered 5-year debentures paying an annual fixed rate or with six monthly payments. NDB Investment Bank managed the offer.
Sri Lanka budget good for rating: Fitch
Nov 25, 2013 (LBO) – Fitch Ratings said the Sri Lanka’s recent budget would help Sri Lanka’s ‘BB” sovereign rating.Fitch said Sri Lanka has to guard against foreign debt. “The Sri Lankan government also has a significant amount of foreign currency debt,” Fitch said. “At around 33% of GDP this poses a risk to the […]
Finance Proposal
Nov 25, 2013 (LBO) – Sri Lanka’s central bank said budget proposals to boost mergers will strengthen finance companies.The full statement is reproduced below:- Strengthening Finance Companies and Banks The Central Bank notes the several measures proposed in the Budget 2014 to strengthen the licensed finance companies, where, with a view to encouraging consolidation in […]
Port Profit
Nov 25, 2013 (LBO) – Profits at Sri Lanka Ports Authority was up sharply in the first nine months of the year, helped by a weaker Japanese Yen and higher container volumes, a finance ministry report said. SLPA has recorded revenues of 25.9 billion rupees for the nine months to September 2013, Revenues were up […]
Sri Lanka stocks close lower
Nov 25, 2013 (LBO) – Sri Lanka stocks closed 0.29 percent lower with diversified stocks losing ground amid low foreign activity on the bourse, brokers said. DFCC closed 2.00 rupees lower at 120.00 rupees and Sampath Bank closed 1.90 rupees lower at 162.10 rupees. Asian Hotels and Properties closed 80 cents lower at 69.00 rupees […]
Petro Gains
Nov 24, 2013 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation has reached break-even level and made a marginal loss after adjusting for losses on derivatives, finance ministry report said.The CPC had made a 3.8 billion rupee profit in the nine months to September 2013 but made an accounting loss of 3.7 billion rupees after […]
US senators press Walmart on Bangladesh unions
WASHINGTON, November 22, 2013 (AFP) – A US Senate report on Friday urged Walmart, Gap and other retailers to respect labor unions in Bangladesh, saying workers desperately needed greater rights after hundreds died in fires.“They should also collectively develop and implement a policy of zero-tolerance for suppliers who consistently engage in anti-union activity,” it said. […]
Sri Lanka opposition slams cronyism in budget, commends restraints
Nov 23, 2013 (LBO) – Sri Lanka’s main opposition United National Party slammed the ‘cronyism’ displayed in some of the tax cuts but said bringing down the deficit amid lower tax revenues deserved recognition.Opposition legislator Harsha de Silva said some of the duty and tax concessions for luxury branded goods and the value added tax […]
‘s electricity utility turns around
Nov 23, 2013 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board has turned around with a 17 billion rupee profit up to September 2013 but it was yet to pay down bank borrowings, a finance ministry report said.Ceylon Electricity Board has earned revenues of 142 billion rupees for the nine months and was projected to […]
Sri Lanka targets lower deficit in 2014 budget, ups protectionism
Nov 22, 2013 (LBO) – Sri Lanka has slapped a series of new taxes to raise revenue and worsen protectionism setting an ambitious state revenue targets for 2014 with more spending and borrowing outlined outside the budget.But state airlines continued to run losses, needing a 200 million US dollar bailout in 2014. The Urban Development […]
Cricket: Perera, Dilshan fire Sri Lanka to Twenty20 win
PALLEKELE, November 21, 2013 (AFP) – Kusal Perera and Tillakaratne Dilshan hit aggressive half-centuries as hosts Sri Lanka romped to an emphatic eight-wicket win over New Zealand in the second Twenty20 international in Pallekele on Thursday.McCullum smashed 26 off 16 balls with three boundaries, while Ronchi hit three fours and a six. Perera smashed 57 […]