Category:
Space Journey
Nov 28, 2012 (LBO) – A Sri Lanka’s first communications satellite by SupremeSAT, a Sino-Lankan joint venture was launched from China’s Xi Chang launch centre on November 27, the state information office said. The launch of ‘SupremeSAT-1’ at 15.45 hours was successful, an alert from the state information office said. SupremeSAT has said the comsat […]
‘s Leasing to sell Rs2bn worth CP
Nov 27, 2012 (LBO) – Sri Lanka’s Peoples Leasing and Finance will sell 2.0 billion rupees of commercial paper with a tenor of up to an year, which has been given an ‘F1+(lka)’ short term rating, Fitch Ratings said. People’s Leasing has a ‘B+’ international rating and ‘AA-(lka)’ domestic long term rating. The firm is […]
”s Leasing rating unchanged: S&P
Nov 27, 2012 (LBO) – The conversion of Sri Lanka’s People’s Leasing and Finance into a licensed finance company would imposed a higher regulatory capital charge but its ‘B+’ stable rating would remain unchanged, Standard and Poor’s said. People’s Leasing and Finance is expected to become a licensed finance company (LFC) in mid 2013 and […]
Sri Lanka monks at risk from rich foods
COLOMBO, Nov 27, 2012 (AFP) – Sri Lanka’s health ministry announced plans on Tuesday to draw up new guidelines for donating food to the country’s venerated Buddhist monks amid concerns about their weight and health. The ministry said the faithful, who offer alms as a religious tradition, tended to give food that was too high […]
Sri Lanka gilt yield curve develops new kink
Nov 26, 2012 (LBO) – A new kink has developed in Sri Lanka’s government bond yield curve with the five year bond rates falling below the four and six year yields during November, dealers said. Sri Lanka usually represses Treasury bill yields when credit demand expands, preventing the banking system and the economy from adjusting […]
Sri Lanka stocks slip 0.4-pct, turnover dips
Nov 26, 2012 (LBO) – Sri Lanka’s stocks closed 0.4 percent lower Monday while turnover dipped to 115 million rupees, levels not seen for three years, amid weak demand, brokers said. On Monday People’s Finance rose 2.60 to close at 33.80 rupees. The firm is due to be merged with its larger parent People’s Leasing […]
Capital Search
Nov 26, 2012 (LBO) – A new commercial bank promoted by Sri Lanka’s Cargills group will seek 3. 0 billion rupees through a private placement of shares in January 2013, a media report said. Sri Lanka’s The Island newspaper quoted Harris Premaratne, chief executive of Cargills Agriculture and Commercial Bank as saying that the lender […]
Ad Awards
Nov 26, 2012 (LBO) – Grants advertising group said it had won three silver and four bronze awards at Sri Lanka’s Effie advertising for 2012 with the telecom brand Etisalat being the most awarded with five medals. The Grants group in represented in Sri Lanka by Response Marketing and Grant McCann Erickson agencies. “Grants have […]
Sri Lanka electricity supply reaches 94-pct
Nov 26, 2012 (LBO) – By the end of 2012 94 percent of Sri Lanka’s population will have access to electricity including improvements to the grid in war-torn areas in the island’s north, the power ministry said. In 2012, 227,913 new customers had been connected. Off-grid power was provided to 40,000 households. The distribution network […]
Sri Lanka credit to business slows; dollar loans contract in Sept
Nov 26, 2012 (LBO) – Sri Lanka’s credit given to private business from banks commercial banks fell to 9. 8 billion rupees in September 2012, the lowest since 2009, with dollar denominated loans contracting, though the rupee book was still growing, official data showed. Sri Lanka’s credit contracted in nominal terms during 2009, following the […]
Sri Lanka Bank of Ceylon raises Rs6.0bn from bonds
Nov 25, 2012 (LBO) – State-run Bank of Ceylon said it had raised 6. 0 billion rupees in subscriptions from a debentures and closed the offer on November 23, making it the biggest even rupee bond sale by a Sri Lanka based financial institution. The bonds came with floating and fixed coupons, with one type […]
‘s Finance on upgrade track
Nov 23, 2012 (LBO) – Sri Lanka’s People’s Finance Plc, has been placed on rating watch positive by Fitch Ratings, putting it on track to be upgraded by two levels to ‘AA-(lka)’ once a merger with its parent, People’s Leasing and Finance Plc, is completed. The full statement is reproduced below Fitch Places People’s Finance […]