Category:
Capital Boost
Mar 06, 2012 (LBO) – Sri Lanka’s listed Sampath Bank is planning to issue subordinated debt to boost its regulatory capital by at least 5. 0 billion rupees during the second quarter of 2012, chief executive Aravinda Perera said. At standalone bank level Sampath made profits of 3. 81 billion rupees in 2011 up 15.6 […]
Bank Rating
Mar 06, 2012 (LBO) – Fitch Ratings has confirmed an ‘AAA(lka)’ national rating with a stable outlook for HSBC’s branch in Sri Lanka following an outlook downgrade of the main bank. Sri Lanka’s HSBC is a branch and is part of the same legal entity making up HongKong & Shanghai Banking Corporation Limited, which has […]
Online Trading
Mar 06, 2012 (LBO) – IronOne Technologies, a Sri Lanka based firm said its online trading system used at 15 out of 22 brokers has been connected to an upgrade to the Colombo Stock Exchange’s new automated trading system. It also makes software for banking, insurance, telecom sectors which are also available on on Apple […]
Sri Lanka opportunities scouted by Dubai group
Mar 06, 2012 (LBO) – Dubai-based All Futtaim group which already owns a motor dealer and insurer is scouting fresh opportunities in leisure and real estate, group vice chairman Omer Al-Futtaim said. “We are exploring a number of new of new opportunities,” he said. “Real estate and leisure is one of the areas we are […]
” by RAM
Mar 05, 2012 (LBO) – RAM Ratings Lanka said it had given a ‘BBB-‘ rating with a stable outlook to a 500 million rupee senior redeemable debenture debenture to be sold by Softlogic Finance Plc. “The ratings are supported by SLF’s adequate asset quality, financial performance, capitalisation and liquidity, but tempered by its moderate funding […]
‘s foreign owned bond holdings increase
Mar 05, 2012 (LBO) – Foreign investor holdings in Sri Lanka government bonds rose to 225 billion rupees in the week ending February 29, up from 212 billion rupees a week earlier, official data showed. Treasury bill holdings rose to 91 billion rupees from 84 billion rupees a year earlier, Central Bank data showed. The […]
Sri Lanka stocks flat, bond yields higher
Mar 05, 2012 (LBO) – Sri Lanka stocks closed flat Monday with off-market deals in large cap firms helping turnover with market market participants still to be fully comfortable with a new trading system while bonds yields edged up, brokers said. In forex markets the rupee opened at 121.50 and weakened to 122.10/20 in late […]
Southern Tech
Mar 05, 2012 (LBO) – Sri Lanka is building an information technology park in Suriyawewa in Hambantota in the island’s south, which is expected to be fully operational by 2016-2017, an official said. Reshan Devapura, head of Sri Lanka’s state ICT Agency said the IT park is being built on a 200 acre site. The […]
Volkswagen India sales down 8-pct in Feb
NEW DELHI, March 5 (AsiaPulse) – Car-maker Volkswagen on Thursday posted a 7.74 per cent decline in its sales in India at 6,529 units for February. The company had sold 7,077 units in the corresponding period last year. Compact car ‘Polo’ and sedan ‘Vento’ continue to be the backbone for the brand, with a total […]
’s airport experience
Mar 05, 2012 (LBO) – With some difficulty, given high hotel prices and uncertainty around visas, we organized a regional workshop that drew participants from as far as Canada and South Africa. The electronic visa facility was greatly appreciated by the attendees. They found the airport experience satisfactory. First impressions were good. We should be […]
Price Signals
Mar 05, 2012 (LBO) – Sri Lanka’s Gampaha district in the Western province bordering the capital Colombo was the area with the highest kerosene consumption with most of it going to factories, the finance ministry said. Though there was a widespread belief that kerosene is consumed by poor households with no electricity including houses of […]
Sri Lanka lines up bank credit to buy up paddy harvest
Mar 04, 2012 (LBO) – Sri Lanka has lined up 28.5 billion rupees in credit mainly from state banks to buy up an estimated 4. 5 million metric tonnes of paddy in an upcoming main harvest season, the state information office said. Rice farmers are among the special interest groups most favoured by the state. […]