Category:
Two Decades
Mar 12, 2013 (LBO) – Sri Lankan advertising agency Triad which was founded in 1993 is making 20 years this March says it has grown into an award winning agency, which has also won in the market. “The brands that we have nurtured and built are today commanding a leadership presence, no matter what the […]
” label
Mar 12, 2013 (LBO) – Sri Lanka’s influential Ceylon Chamber of Commerce announced that the cost of halal certification was so “insignificant” that it was not even considered when calculating the cost of production of food sold locally. CCC chief Susantha Ratnayake, who is also the chairman of John Keells Holdings, said the widely used […]
Sri Lanka Merchant Bank to sell Rs.2.0bn in debentures
Mar 11, 2013 (LBO) – Merchant Bank of Sri Lanka, a unit of state-run Bank of Ceylon is offering for sale up to 2.0 billion rupees of 4 and 5-year listed debentures paying between 16.5 to 17.5 percent a year. The Colombo Stock Exchange said it had approved the issue where the MBSL will offer […]
Foreign Factor
Mar 11, 2013 (LBO) – Sri Lanka’s larger listed banks have improved margins as interest rates rose in 2012 helped by a bigger current and savings deposits base and foreign borrowings, an equities research report said.At Commercial Bank foreign borrowings as a share of total funding had risen to 3.0 percent from 2.3 percent, at […]
Sri Lanka second airport aviation fuel terminal ready: CPC
Mar 11, 2013 (LBO) – State-run Ceylon Petroleum Corporation has built an aviation fuel terminal at Sri Lanka’s second international airport in Mattala, which has storage capacity of 250,000 litres, the petroleum ministry said.The airport is due to open on March 18. A ministry statement quoted petroleum minister Anura Yapa as saying that the new […]
Sri Lanka power tariff proposal open for public comment
Mar 11, 2013 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board has sought increases in tariffs of over 100 percent for some categories for 2013, while keeping tariffs for places of worship and some industries at steeply subsidized levels. Places of religious worship, would continue to get the cheapest power, paying between 1.90 to 7.00 […]
Halal food label withdrawn in Sri Lanka after protests
March 11, 2013 (AFP) – Islamic clerics announced the withdrawal of a halal labelling system for food in Sri Lanka on Monday “in the interests of peace” after protests from Buddhist hardliners on the Indian Ocean island.The All Ceylon Jamiyyathul Ulama (ACJU), Sri Lanka’s main body of Islamic clergy, said the halal certificate issued by […]
Credit Limits
Mar 10, 2013 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation, to which state-run airlines owe 30.9 billion rupees and a petroleum utility 28.3 billion rupees will limit credit to state agencies this year, a media report said.Minister Yapa said the CPC was paying interest to state banks on loans taken to cover unpaid dues […]
Founding Shareholders
Mar 09, 2013 (LBO) – The International Finance Corporation, a private sector financing arm of the World Bank and DEG, a German development financier will buy 10 percent stock each in a new Sri Lankan commercial bank.Cargills Agriculture and Commercial Bank is being promoted by Sri Lanka’s Ceylon Theatres group. Sri Lanka’s CT Holdings and […]
Queen urged to boycott Sri Lanka summit over killing
COLOMBO, March 8, 2013 (AFP) – An English politician Friday urged the Queen to boycott the Commonwealth summit in Colombo later this year to protest against Sri Lanka’s failure to prosecute the killers of a British tourist in 2011.International rights groups have said up to 40,000 civilians may have been killed in the final offensive […]
”’: Fitch
Mar 08, 2013 (LBO) – An upcoming debenture of Sri Lanka’s People’s Leasing and Finance has been rated ‘AA-(lka)(EXP)’ by Fitch. The proposed has been rated at the same level as PLC’s national long term rating as it will rank equal to senior unsecured creditors, Fitch said. The full statement is reproduced below: Fitch Rates […]
Policy Stance
Mar 08, 2013 (LBO) – Sri Lanka is holding its main policy rates a little below annual inflation of 9.8 percent, expecting prices to ease from March and has asked banks to cut lending rates to boost growth. The Central Bank said in its March monetary policy statement that the repo rate at which excess […]