Category:
Leaving
May 20, 2014 (LBO) – Tony Weeresinghe, founder of Sri Lanka based MillenniumIT, is to leave the London Stock Exchange group, a media report said. Bloomberg newswires said Weeresinghe planned to leave at the end of June. The report quoted LSE Chief Executive Xavier Rolet as saying in a note to staff that he was […]
Sri Lanka textile maker says European orders strong, US buyers cautious
May 21, 2014 (LBO) – Demand from US retailers have softened in recent months but European demand was still strong, Textured Jersey, a Sri Lanka based textile maker said. Revenues grew 7 percent to 3.2 billion rupees, costs grew 6.2 percent to 2.8 billion rupees and the firm grew gross profits 13.9 percent to 402 […]
Cricket: Perera sets up Sri Lanka win over England
LONDON, May 20, 2014 (AFP) – Thisara Perera starred with both bat and ball as Sri Lanka gained revenge for their World Twenty20 defeat by England with a nine-run win at The Oval on Tuesday. Man-of-the-match Perera made a rapid 49 in World Twenty20 champions Sri Lanka’s 183 for seven and then captured the important […]
‘s third coal plant to start test runs
May 21, 2014 (LBO) – Sri Lanka’s third 300 MegaWatt coal plant is to begin testing in two months and the second plant has just been handed over to state-run Ceylon Electricity Board by its Chinese contractor after initial test runs.The third plant is expected to begin its reliability test runs from June adding another […]
Sri Lanka shares close higher
May 20, 2014 (LBO) – Sri Lanka’s shares closed 0.04 percent higher Tuesday with index heavy stocks gaining despite net foreign selling, brokers said. The Colombo benchmark All Share Price Index closed 2.37 points higher at 6,321.61 up 0.04 percent. The S&P SL20 closed 7.31 points higher at 3,480.10, up 0.21 percent. Turnover was 416.61 […]
Gold Credit
May 20, 2014 (LBO) – A credit guarantee scheme covering gold-backed loans or pawning advances will be set up so that banks will have more comfort to lend against the asset, Central Bank Governor Nivard Cabraal said.But banks saw defaults rising on the credit when gold prices fell and values fell below the collateral. Sri […]
‘s Modi quick on Twitter diplomacy, no mention of US
NEW DELHI, May 19, 2014 (AFP) – India’s prime minister-elect Narendra Modi has taken to Twitter to thank fellow leaders in Japan, Russia, Sri Lanka, Nepal and Australia for their support, but one man still waiting for a reply is US Secretary of State John Kerry.While Canadian Prime Minister Stephan Harper has had two mentions […]
” resignation offers
NEW DELHI, May 19, 2014 (AFP) – India’s Sonia and Rahul Gandhi offered to resign Monday after leading the once-dominant Congress party to its worst-ever election defeat last week, only for colleagues to insist the dynasty stay in place.Congress won just 44 seats in the parliamentary election for 543 seats as the Hindu nationalist Bharatiya […]
‘s Rocket Internet
May 20, 2014 (LBO) – Lamudi, an online property and real estate portal started by German based Rocket Internet which focuses on emerging markets has launched a Sri Lanka specific site. “Now is the perfect time to be entering the Sri Lankan market,” Wilhelm Hammes, Managing Director of Lamudi Sri Lanka (www.lamudi.lk) said in a […]
Sri Lanka holds rates, state guarantee for gold-backed loans: Central Bank
May 20, 2014 (LBO) – Sri Lanka’s Central Bank held policy rates at 6.5 and 8.0 percent with private credit showing positive growth in March, and said a government credit guarantee would be available for gold backed loans.The Central Bank was holding its policy repo rate at which the excess liquidity is withdrawn from the […]
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May 19, 2014 (LBO) – Senior debt of Singer Sri Lanka Plc, a consumer durables maker has been downgraded one level to ‘A-(lka)’ by Fitch Ratings on falling profits and margins. Fitch said following value added tax hikes amid stressed economic conditions margins were declining. Singer however was managing its consumer loans portfolio well, and […]
Sri Lanka gilt dealers invited to trade in listed debt, REPOs in the offing
May 19, 2014 (LBO) – Colombo Stock Exchange has invited Sri Lanka’s primary dealers in government debt and specialists in debt to register at the bourse to trade in listed corporate debt, with a repurchase mechanism on the trading system also planned.CSE chief operating officer Renuke Wijayawardhane said three primary dealers in government securities have […]