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Sri Lanka president confirms 30 month jail for ex-army chief
September 30, 2010 (AFP) – Sri Lanka’s president has confirmed the 30-month jail term imposed on former army chief Sarath Fonseka following his conviction by a military court, an official said Thursday. He has said the government is seeking revenge for his decision to stand against the president and wants to keep him from speaking […]
Sri Lanka inflation accelerates to 5.8-pct in September
Sept 30, 2010 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 5. 8 percent in September from a year earlier, accelerating from 5.0 percent in August, the government’s statistics office said. “What is important here is that we have not only been able to deal with inflation, but we have also been able […]
Sri Lanka seeks help for 90,000 war widows: minister
September 29, 2010 (AFP) – Sri Lanka is seeking foreign help to care for nearly 90,000 women who have been widowed due to the island’s Tamil separatist war which ended last year, a minister said Wednesday. Child Development and Women’s Affairs Minister M. L. A. M. Hizbullah told reporters some 12,000 war widows were below […]
Sri Lanka urban bonds oversubscribed
Sept 29, 2010 (LBO) – A five-year bond issued by Sri Lanka’s Urban Development Authority (UDA), a state agency, to raise 10 billion rupees has been oversubscribed, drawing applications worth 11 billion rupees, a statement said. The managers to the issue, Bank of Ceylon, said eight investors had made applications to the value of 6. […]
Sri Lankan stocks close up 1.23-pct
Sept 29, 2010 (LBO) – Sri Lankan shares regained some lost ground Wednesday while regulators imposed a price band on two more stocks to curb price volatility, brokers said. MTD Walkers closed at 585.00 rupees, up 23.20 (4.13 percent) with 3,100 shares traded, and Singalanka Standard Chemicals at 220. 00 rupees, up 45.00 (25.71 percent) […]
Fresh Capital
Sept 29, 2010 (LBO) – The Finance Company, a Sri Lankan finance company recovering after a run, is to raise 1. 6 billion rupees in fresh capital by attracting new investors and convert deposits into shares, a statement said. The Finance Company is recovering and had reduced losses to 431 million rupees in the June […]
Capital Position
Sept 29, 2010 (LBO) – Fitch Ratings Lanka has confirmed DFCC Bank’s (DFCC) National Long-term rating at ‘AA(lka)’ with a stable outlook, a statement said. The agency has also affirmed DFCC’s senior debentures at ‘AA(lka)’ and subordinated debentures at ‘AA-(lka)’. “DFCC’s ratings are driven by its strong capitalisation supported by ongoing high profitability,” the rating […]
Sri Lanka hotel share, warrants issue approved
Sept 29, 2010 (LBO) – Sri Lanka’s stock exchange has approved the issue of new shares and attached warrants by Hotel Reefcomber to raise cash to revamp the hotel, a statement said. Hotel Reefcomber, which owns the Amaya Reef hotel on the southwest coast, plans to consolidate 10 shares to one and then sell a […]
Sri Lanka mini-hydro power firm to list
Sept 29, 2010 (LBO) – Hydro Power Free Lanka, a mini-hydro power firm which has a generating capacity of 3.2 MegaWatts is selling 35 million shares to raise 350 million rupees to build more plants, the Colombo Stock Exchange and officials said. The firm operates two 1.6 MegaWatt plant in the Gampola area in Sri […]
Sri Lanka gives half of billion dollar bond to US investors
Sept 28, 2010 (LBO) – Sri Lanka has allocated investors in the United States 52. 5 percent of its billion US dollar bond, which was issued at 6.25 percent but was trading at a slightly lower rate. “The government will use the proceeds from the bond issue to finance its current infrastructure and to restructure […]
Sri Lanka urban bond draws investors
Sept 28, 2010 (LBO) – A five-year bond issued by Sri Lanka’s Urban Development Authority (UDA), a state agency, to raise 10 billion rupees has drawn applications worth 8. 2 billion rupees, a statement said. The bonds are to be listed on the main board of the Colombo Stock Exchange. The managers to the issue, […]
Sri Lanka rupee bond yields drop on dollar debt sale
Sept 28, 2010 (LBO) – Sri Lanka government rupee securities yields slipped on news of a successful sale of a 10-year billion US dollar sovereign bond Tuesday, despite market participants discounting the effect earlier, dealers said. A 10-year rupee bond maturing on 01.08.20 was last sold at an auction at 9.30 percent but the bond […]