Category:
Sri Lanka sells US$72mn 3-yr bonds
Mar 19, 2012 (LBO) – Sri Lanka sold 72 million US dollars of three-year bonds at six-month Libor + 385 basis points and 12 million dollars of four-year bonds at Libor +415 bp, the Central Bank’s Public Debt Department said. Both foreign and local commercial banks subscribed bids at the auction, it said. “The offer […]
Sri Lanka shares becalmed despite big deals
Mar 19, 2012 (LBO) – Sri Lankan shares closed barely changed Monday although foreign buying into a local conglomerate pushed turnover up over three billion rupees, brokers said. The main All Share Price Index was stagnant at 5,449.46, while the more liquid Milanka index rose 0. 51 percent (24.83) to close at 4,889.08. Turnover was […]
Luxury Repair
Mar 19, 2012 (LBO) – Colombo Dockyard said it was eyeing yacht repair as a new market after winning work from a French specialist yacht management company, given Sri Lanka’s proximity to the Maldives where many vessels end their cruises. The yard, majority owned by Japan’s Onomichi Dockyard Co. , said it completed repairs on […]
Sri Lanka set to suffer if wheat prices rise: ADB
Mar 19, 2012 (LBO) – Sri Lanka is one of the countries in South Asia whose poor would suffer if prices of commodities like wheat rise further, the Asia Development Bank (ADB) said in a new report. But the study said rapid population growth, changing food consumption patterns linked to higher incomes, and stagnating agricultural […]
Indian market will buy over 1,000 new aircraft by 2030: Airbus
HYDERABAD, March 19 (Asia Pulse) – India will require 1,043 new passenger and cargo aircraft valued at US5 billion between now and 2030, according to a market forecast by aviation major Airbus. Of this, 1,020 will be passenger aircraft and 23 cargo. Indian market for new aircraft is the world’s fourth largest in both number […]
Sri Lanka might lose Indian support on war crimes issue: reports
Mar 19, 2012 (LBO) – India might vote against Sri Lanka in the United Nations Human Rights Council which is debating alleged war crimes in the island, news reports quoted Indian prime minister Manmohan Singh as saying. Tamil Nadu political parties have been urging the Indian government to take a strong stand on the atrocities […]
Lube Location
Mar 19, 2012 (LBO) – Chevron Lubricants Lanka, a unit of the US based group said it will re-locate its blending and packing plant with the end of a land lease with a state-run petroleum firm. “In order to sustain the long term growth of the business, the Board has made a decision to relocate […]
Sri Lanka Samapth Bank to raise up to Rs2.5bn in debt
Mar 19, 2012 (LBO) – Sri Lanka’s Sampath Bank said it was planning to raise as much as 2. 5 billion rupees from the sale of debentures which will be quoted on the Colombo Stock Exchange. The bank said in stock exchange filing that it wanted to sell 15 million debentures of 100 rupees each. […]
Cycle Sales
Mar 18, 2012 (LBO) – Singer (Sri Lanka) Plc, a listed consumer durables distributor which 22 billion rupees in revenues in 2011 said it has seen strong sales of bicycles in former war-torn areas, where the product has been traditionally popular. Singer sells ‘Lumala’ branded vehicles through its distribution network, which grew in 2011, the […]
‘s flip-flop on cotton exports hurting textile industry: Fitch
NEW DELHI, (Asia Pulse) – Rating agency Fitch said that India’s partial lifting of a ban on cotton exports has led to uncertainty over prices and time of purchasing of the natural fibre by the domestic textile companies. “This uncertainty on cotton price movements could over the long term increase raw material price risk and […]
SriLankan Airlines borrows $175mn to pay creditors: report
Mar 18, 2012 (LBO) – SriLankan Airlines is to get a loan of 175 million US dollars (21. 8 billion rupees) from the Mashreq Bank in the United Arab Emirates to pay its creditors, the Sunday Times newspaper said. Sri Lanka’s Cabinet of ministers has agreed to offer a government guarantee to the national carrier […]
Sri Lanka should watch external developments, learn lessons: banker
Mar 17, 2012 (LBO) – Sri Lanka should watch global developments closely, in particular the unfolding scenario in Europe and learn lessons, Saliya Rajakaruna, chief executive of the Nations Trust Bank has said. Rajakaruna said the US economy was still struggling, the future of the Euro single currency was in doubt, the Middle East was […]