Category:
Board Change
Mar 29, 2012 (LBO) – Sri Lanka’s Pan Asia Banking Corporation (PABC) said its chairman A G Weerasinghe will step down from April 02 and will be replaced by Nimal Perera. Weerasinghe will remain a director. Eshana De Silva has been appointed deputy chairman and Anthony page as senior director also from April 02, the […]
Sri Lanka tea prices recover
Mar 29, 2012 (LBO) – Prices of Sri Lankan tea, especially those grown at low elevations, perked up at this week’s auction, giving some relief to producers battered by rising costs and reduced demand in key markets. “The 3.0 million kilos of low grown teas that came under the hammer this week met with excellent […]
‘s Godrej Properties to sell shares at Rs575
MUMBAI, March 29 (AsiaPulse) – Godrej Properties (BSE:533150) on Monday fixed the price for its issue of shares to institutional investors at Rs 575 a share, the lower end of the price band, and would raise up to Rs 471 crore (US$92.8 million) for reducing debt and acquiring projects. The share price fell by 3.38 […]
Sri Lanka Treasuries yields up
Mar 28, 2012 (LBO) – Sri Lanka’s Treasury bill yields rose across maturities at Wednesday’s auction, though only a part of the 10 billion rupees of bills offered was sold through the auction, the state debt office said. The debt office, which is a unit of the Central Bank, said 3-month yields rose 25 basis […]
Sri Lanka shares end down 0.2-pct
Mar 28, 2012 (LBO) – Sri Lankan shares closed weaker Wednesday with some interest seen in conglomerates although trading volumes were low, brokers said. The main All Share Price Index fell 0.15 percent (8.07 points) to 5,428.01, while the more liquid Milanka index rose 0.50 percent (24.22) to close at 4,888.39. Turnover was 627 million […]
Knowledge Base
Mar 28, 2012 (LBO) – International Finance Corporation, an arm of the World Bank said it is training Sri Lankan bankers in trade finance to help provide better services to customers to interact with the global markets. During the training program, participants were taught how to structure basic and complex trade finance transactions, improving risk […]
Sri Lanka hotel makes US$35mn cake
Mar 28, 2012 (LBO) – Sri Lanka Heritance Ahungalle, a hotel in the island’s Aitken Spence leisure group said it has made a 35 million dollar sapphire studded cake, in a bid to make the world’s most expensive one. “Created by their celebrity Chef Dimuthu Kumarasinghe, the ten-layered ‘Pirate’s Fantasy’ comes studded with jewels and […]
Work Trial
Mar 28, 2012 (LBO) – Sri Lankan employers are seeking the extension of a trial run allowing a five-day work week as part of moves to reform archaic labour laws and improve efficiency, an official said. Ravi Peiris, director general of the Employer’s Federation of Ceylon (EFC), said they have been lobbying with the government […]
Legal Overhaul
Mar 28, 2012 (LBO) – An overwhelming majority of Sri Lankan employers have asked for changes in the island’s labour laws, saying they are archaic and actually hinder employment creation and growth. “We firmly believe labour regulation needs an overhaul in line with changes taking place today,” Peiris said. “We do not propose a hire […]
Indian gold loans to slow after new curbs: rating agency
NEW DELHI, March 28 (AsiaPulse) – The Reserve Bank of India (RBI)’s recent guidelines for the gold loan sector will significantly moderate the growth and profitability over the next year, said a Crisil report. “Business growth is likely to fall from 80 per cent per annum to 20-25 per cent per annum and return on […]
” deal
Mar 28, 2012 (LBO) – Sri Lanka’s Commercial Bank has struck a deal with Ceylinco Insurance to offer the latter’s general and life insurance products through the bank’s islandwide network of branches. “The agreement strengthens Commercial Bank’s commitment to offer a wide choice in ‘Bancassurance’ to existing and potential customers, through partnerships with the country’s […]
Sri Lanka Expo foreign presence sign of confidence: president
Mar 28, 2012 (LBO) – The presence of a large delegation of foreign visitors at Sri lanka’s Expo2012 international trade fair and exhibition is an expression of confidence placed in the country, President Mahinda Rajapaksa said. The fair is meant to show the world the new prospects for investment and trade in Sri Lanka after […]