Category:
Executive Churn
Jan 12, 2012 (LBO) – Sri Lankan mobile phone operator Dialog Axiata has appointed as its new Group Chief Marketing Officer Amali Nanayakkara, former chief executive of its rival Airtel Lanka. Nanayakkara, who will take up office in February 2012, is a marketing professional with over 20 years of experience in senior management postings in […]
Sri Lanka Arpico Insurance taps life
Jan 12, 2011 (LBO) – Sri Lanka’s Arpico Insurance, a start-up insurer, is planning to capitalize on the island’s relatively untapped life sector which is less competitive than general insurance, officials said. Richard Pieris was also planning to expand its financial services sector by moving into leasing and finance, officials said. It was already involved […]
Sri Lanka expressway has upped hotel occupancy: minister
Jan 11, 2012 (LBO) – Occupancy at hotels in the southern part of Sri Lanka had increased after a new expressway cut travel time to the area, deputy economic development minister Lakshman Abeywardene said. The expressway cut travel time to Galle from the capital Colombo to less than one hour from over three hours by […]
Sri Lanka Treasuries yields flat for third week
Jan 11, 2012 (LBO) – Sri Lanka’s Treasury bill yields were flat for the third week running, with the 3-month yield at 8.68 percent at Wednesday’s auction with 14. 7 billion rupees of bills sold, the state debt office said. The 6-month yield was at 8.71 percent and the 12-month yield was 9. 31 percent. […]
Sri Lanka stocks close slightly firmer
Jan 11, 2012 (LBO) – Sri Lankan stocks closed slightly firmer Wednesday, ending a six-day losing streak although turnover remained thin with a recovery in shares and warrants of a firm which has delayed conversion for the second time, brokers said. HVA Foods was also actively traded, closing at 36.50 rupees, up 10 cents. Textured […]
Port Saga
Jan 11, 2012 (LBO) – China Merchant Holdings (International), and state-run Sri Lanka Ports Authority may buy parts of a 30 percent stake in a container terminal project at Colombo port held by private listed Aitken Spence, a media report said. China Merchants is already the dominant partner a 55 percent stake and the SLPA […]
Rough Waters
Jan 11, 2012 (LBO) – Sri Lanka’s Aitken Spence, may be forced to pullout from a container terminal project in Colombo after financing from a Chinese bank fell through, requiring additional financing from consortium partners, sources said. The new commitment would have been a further 130 million US dollars, which was beyond the capacity of […]
Sri Lanka gets US2bn in tourism project proposals: minister
Jan 11, 2012 (LBO) – Sri Lanka has received 210 applications worth two billion dollars for new tourism projects in 2011 as the sector became a target for investors after the end of a 30-year war, a minister said. In 2012, the industry will add another 2,500 rooms, he said. Deputy economic development minister Lakshman […]
Sri Lanka warns of Tamil Tiger separatist revival
Jan 11, 2012 (LBO) – Sri Lanka is maintaining high defence spending and sizeable military to guard against any possible resumption of violence by Tamil Tiger separatists who are trying to regroup, a senior defence official said. The island’s intelligence services had picked up evidence of attempts to reactivate the Liberation Tigers of Tamil Eelam […]
Sri Lanka policy rates steady, market rates up
Jan 11, 2012 (LBO) – Sri Lanka’s main policy interest rate at which cash is injected to the market will remain at 8.50 percent but an increase in market rates could help reduce money supply growth, the Central Bank said as it battles pressure on a dollar peg. Sri Lanka’s peg with the US dollar […]
Sri Lanka stocks fall 0.2-pct
Jan 10, 2012 (LBO) – Sri Lankan stocks weakened for the sixth straight trading day Tuesday, with investors selling off shares and warrants of a firm which has delayed conversion for the second time, brokers said. The main All Share Price Index fell 0. 17 percent (10.03 points) to 5,862.91, while the more liquid Milanka […]
Healthy Profile
Jan 10, 2012 (LBO) – RAM Ratings Lanka has assigned long- and short-term corporate credit ratings of A+ and P1 to Lanka Hospitals Corporation with the long-term rating having a stable outlook. “The ratings are upheld by the hospital™s strong financial profile, liquidity, ongoing state support and the positive outlook for the private healthcare industry,” […]