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Sri Lanka’s Pan Asia Bank’s senior debt rated “BBB” (lka): Fitch
Jun 17, 2015 (LBO) – Fitch Sri Lanka has rated Sri Lanka’s Pan Asia Banking Corporation proposed listed senior unsecured debentures of up to 4.0 billion with a National Long-Term rating of ‘BBB(lka)(EXP)’. The full statement follows: Fitch Ratings-Colombo/Hong Kong-17 June 2015: Fitch Ratings has today assigned Pan Asia Banking Corporation Plc’s (PABC; BBB(lka)/Negative) proposed […]
Sri Lanka’s NDB debenture oversubscribed
June 17,2015 (LBO) – Sri Lanka’s National Development Bank’s debt issue was oversubscribed reciving 10 billion rupees during the early hours of the opening day as per the disclosures made to the CSE by the Registrars to the Debenture Issue, a statement said. The company issued 75,000,000 rated unsecured subordinate redeemable debentures with a par […]
Ravi K justifies Insurance corporation MD’s appointment
June 17, 2015 (LBO) – Sri Lanka Finance Minister Ravi Karunanayake, justifying the appointment of T.M.R. Bangsa Jayah brother-in-law of the Minister says that it’s better to appoint a go getter rather than an inefficient professional.Jayah was appointed as the Managing Director (MD) of Sri Lanka Insurance Corporation after the new administration took over on […]
Sri Lanka’s pepper to discover Chinese market
June 17, 2015 (LBO) – Sri Lanka’s pepper or the king of spices to enter into Chinese market, with a view to diversify markets-and to cash in on the emerging Far-East, Export Development Board said. “Compared to many other black peppers around the world, Lankan pepper has higher “piperine” content taken for dietary applications” Yousuf […]
Sri Lanka’s Hambantota port needs to be made viable: Minister
June 17, 2015 (LBO) – Sri Lanka’s Hambantota port should be transformed to a level of making profits as in the case of the Colombo Port, Ports and Aviation Minister Arjuna Ranatunga said. “We must make Hambantota a viable port and get it on the right track and develop it. This is the issue that […]
Sri Lankan resort wear brand partners with Zalora – Asia’s largest online fashion store
June 17, 2015 (LBO) – Sri Lanka’s Rum Punch, an exclusive brand of resort wear is to be retailed on Zalora – Asia’s largest online fashion store, later this month. “We were very impressed by Rum Punch’s perspective on fashion,” said Joanne Teh Ai Ling – Swimwear Buyer at Zalora. “It’s chic, trend right, and […]
Sri Lanka bloated public sector needs HR reforms to create national prosperity: HR expert
June 17, 2015 (LBO) – Sri Lanka’s laid back public sector needs human resource reforms to help the country move forward and create national prosperity, a human resource expert said.“Unfortunately it reminds me the value of human resource development is yet to develop in the public service who is expected to make a crucial contribution […]
Sri Lanka’s Parliament to debate no confidence motion against Finance Minister on July 06
June 16, 2015 (LBO) – Sri Lanka’s Parliament is to debate no confidence motion against Finance Minister on July 06, Leader of Mahajana Eksath Peramuna, Dinesh Gunawardena told LBO. The decision has been taken at a party leaders meeting held today. “We opposed the date because the debate will get delayed for another month.They had […]
Sri Lanka Freedom Party appoints committee to cooperate with Mahinda Rajapaksa
June 16, 2015 (LBO) – Sri Lanka Freedom Party on Tuesday appointed a six member committee to cooperate with former President Mahinda Rajapaksa, General Secretary of SLFP Anura Priyadarshana Yapa told LBO. The six member committee led by John Seneviratne also includes Dilan Perera, T.B. Ekanayake and Kumara Welgama. Anura Priyadarshana Yapa and Susil Premajayantha […]
Sri Lanka stocks close down 0.5-pct: JKH recording losses
Jun 15, 2015 (LBO) – Sri Lanka’s stocks closed down at 0.49 percent following two straight days of gains with losses in stocks like JKH, Nestle Lanka and Bukit Darah, Tuesday, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 34.37 points lower at 7,044.60 down 0.49 percent. The S&P SL20 closed 15.90 […]
ICRA Lanka assigns [SL] A- rating for Commercial Leasing and Finance proposed debt issue
June 16, 2015 (LBO) – ICRA, a group company of Moody’s Investors Service has assigned a [SL] A- rating with a stable outlook for the Commercial Leasing and Finance Company’s proposed debt issue of 5.0 billion rupees. Full text of the statement issued by ICRA Lanka is reproduced below. ICRA Lanka Limited, a wholly owned […]
Sri Lanka’s Power Minister pays double for coal purchase: Udaya Gammanpila
June 16, 2015 (LBO) – Sri Lanka’s Power Minister is currently paying almost double for the purchase of coal at current world prices, Western Provincial Councilor Udaya Gammanpila charged.Gammanpila, who broke away from the JHU at the last Presidential election, accuses his former ally Champika Ranawaka for intervening an alleged tender deal saying it is a mega deal. According […]