Category:
Sri Lanka Treasuries yields slip further
Aug 19, 2010 (LBO) – Sri Lanka’s Treasury bill yields slipped further at Wednesday’s auction, down by between 24 basis points to 36 basis points with one year yields slipping the most, results from the government debt office showed. The debt office sold 1.250 billion rupees in 3-month bills, 4.535 billion rupees in 6-month yields […]
Sri Lankan stocks close up 2.71-pct, pass 5,500 points mark
Aug 19, 2010 (LBO) – Sri Lankan stocks broke new ground yet again this week and passed 5,500 points, Thursday, from gains across the board on low volume trading, brokers said. Hemas Holdings closed at 40.00 rupees, up 30 cents (0.76 percent) and John Keells Holdings, an index heavy stock closed at 258.00 rupees, 1.00 […]
Rural Competition
Aug 19, 2010 (LBO) – India’s Mahindra and Mahindra group plans to enter Sri Lanka’s financial sector, especially the rural areas, officials said. There were “imminent opportunities in financial services’, said Ramesh Iyer, managing director of Mahindra & Mahindra Financial Services. “Capital is not a constraint in terms of wanting to grow in Sri Lanka. […]
Bank Trends
Aug 19, 2010 (LBO) – National Development Bank (NDB) June quarter profits fell 17. 9 percent to 434.7 million rupees, due to a fall in fee-based incomes, while personal, premises and operating costs have gone up, a stock exchange filing said. NDB group’s interest income had come down 16. 4 percent to 2.45 billion rupees, […]
Inside Information
Aug 19, 2010 (LBO) – Sri Lanka’s Central Bank is violating its own good governance code when a pension fund it manages buys stakes in banks and financial institutions which it regulates, an economist and opposition parliamentarian said. Harsha de Silva said he was “appalled” at the statement by the Central Bank that the Employees […]
Bank Profits
Aug 19, 2010 (LBO) – The Sri Lankan unit of Standard Chartered Bank’s (SCB) June quarter profits shot up 679 percent to 8. 773 billion rupees on a specific loan loss provision reversal on an oil hedging deal, its published accounts showed. SCB’s interest income fell 32 percent to 3. 41 billion rupees, while interest […]
Vehicle Market
Aug 19, 2010 (LBO) – India’s Mahindra group said it is studying the possibility of introducing its electric vehicle, Mahindra Reva, to the Sri Lankan market and launching new models soon after their launch in India. Vice chairman Anand Mahindra told a news conference the company was targeting vehicle sales of 10,000 by the 2013 […]
India proposes formula to break BlackBerry logjam: report
NEW DELHI, August 19, 2010 (AFP) – India’s government has proposed a formula that could avert its threatened shutdown of the core features of the BlackBerry smartphone over security worries, a newspaper reported Thursday. The communications ministry has put forward a plan by which security agencies could gain access to heavily encyrpted corporate email sent […]
SriLankan Airlines trains first batch of technicians under European certification
Aug 19, 2010 (LBO) – SriLankan Airlines has graduated its first batch of Aircraft Maintenance students under the EASA 147 European certification as it seeks to build its engineering business, a statement said. The 26 students, including seven foreign students from the Maldives, Oman and India, underwent two years of training at SriLankan’s Technical Training […]
Iceland strives to become a global press freedom haven
REYKJAVIK, August 19, 2010 (AFP) – After Iceland’s near-economic collapse laid bare deep-seated corruption, the country aims to become a safe haven for journalists and whistleblowers from around the globe by creating the world’s most far-reaching freedom of information legislation. The project, developed with the help of WikiLeaks founder Julian Assange, flies in the face […]
Oil Supply
Aug 19, 2010 (LBO) – Sri Lanka is to extend a deal with Iran to buy two million metric tonnes of crude oil a year with a 120-day interest free credit facility, a government spokesman said. Media minister Keheliya Rambukkwelle said Sri Lanka buys most of its crude oil from Iran and the government’s agreement […]
Sri Lankan stocks close up 2.19-pct, passes 5,400 points
Aug 18, 2010 (LBO) – Sri Lankan stocks closed at a new high and passed the 5,400 points mark Wednesday, from buying interest mostly on midcap and ‘penny’ stocks, while deals on Lion Brewery and Ceylon Investments boosted revenues, brokers said. In a private deal over 964,000 shares of John Keells Holdings changed hands at […]