Category: Companies
Chinese Links
Sept 13, 2013 (LBO) – A top delegation from Sri Lanka’s banking sector headed by Central Bank Governor Nivard Cabraal had talks with key Chinese banks which are among the largest in the world. “We are establishing links with Chinese banks,” Cabraal told LBO in a telephone interview. “There has been a very good interaction. […]
Sri Lanka NSB raises 750mn at 8.875-pct
Sept 13, 2013 (LBO) – Sri Lanka’s state-run National Savings Bank has raised 750 million US dollars at 8.875 percent, international capital market sources said. Price guidance for the bond was initially set at 9.25 percent amid volatile global conditions but narrowed to 8.875 percent amid stronger orders. The bank went to the market for […]
” rating confirmed: Fitch
Sept 13, 2013 (LBO) – Sri Lanka based Dialog Axiata’s ‘AAA(lka)’ rating has been confirmed by Fitch Ratings with a stable outlook. “Dialog’s rating reflects Fitch’s expectations that its 83 percent-parent, Axiata Group Berhad of Malaysia (Axiata), is likely to provide support if required, given operational and strategic linkages between the companies,” the rating agency […]
”s US$500mn bond launched: report
Sept 12, 2013 (LBO) – Sri Lanka’s state-run National Savings Bank has started selling a 5-year 500 million US dollar bond, a report said. A dollar denominated bond by state-run Bank of Ceylon maturing in 2018 was quoted at 7.90/8.14 percent levels Thursday. A 2020 sovereign bond was quoted around 7.32/55 percent levels bond dealers […]
‘s war ravaged provinces grow fastest in 2012
Sept 10, 2013 (LBO) – Sri Lanka’s war ravaged Northern and Eastern provinces grew fastest in 2013, though starting from a low base, helped by construction but also banking and agriculture, the Central Bank said. The share of Central Province was flat at 9.8 percent. The North Central (4.7 percent), UVA 4.5 percent and Sabaragamuwa […]
‘s Ceylease rating upgraded and withdrawn: Fitch
Sept 10, 2013 (LBO) – Fitch Ratings said it had upgraded and Sri Lanka-based Ceylease Ltd’s rating to ‘BBB(lka)’ from BB+(lka)’ and withdrawn it following the firm’s merger with MCSL Financial Services. Both are units of state-run Bank of Ceylon. Fitch Upgrades and Withdraws Ceylease’s Rating; Affirms MCSL Financial Services Fitch Ratings-Colombo-09 September 2013: Fitch […]
Sri Lanka and India in link to boost textile sector
Sept 05, 2013 (LBO) – India and Sri Lanka will sign a deal to promote handloom, powerloom and textile as a delegation visits the island during a fabric exhibition to be held next week.Zohra Chatterji, secretary of the ministry of textiles will lead a business and official delegation to the island and sign a memorandum […]
‘s Pan Asia Bank becomes gilt dealer
Sept 04, 2013 (LBO) – Sri Lanka’s Pan Asia Bank Plc has been appointed a primary dealer in government securities, the Central Bank said. The bank has been given the nod to start operations from September 16..
Sri Lanka Forex Association gets new head
Sept 03, 2013 (LBO) – Sri Lanka Forex Association, made up members engaging in dealing Treasury related products in the island’s interbank markets covering 22 banks has elected P A Lionel, as its President. Lionel, a senior deputy general manager at state-run Bank of Ceylon, counts 30 years of experience in banking where 25 years […]
Forestry Case
Aug 02, 2013 (LBO) – A provincial High Court in Sri Lanka is to hear a petition to wind up Touchwood Investments, a Colombo-based forestry firm, according to a newspaper notice placed by lawyers. A notice in Sri Lanka’s Daily News, newspaper said, a resident of Rajagiriya, a suburb of Colombo has petitioned the High […]
Sri Lanka inflation up 6.3-pct in August
Aug 30, 2013 (LBO) – Sri Lanka’s inflation measured in the capital Colombo rose 6.3 percent in the 12-months to August up from 6.1 percent in July, though prices fell during the month, the state statistics office said.The Colombo Consumer Price Index fell 0.6 points during August to 176.2 points. ¬¬The food and non-alcoholic beverages […]
‘s Softlogic debentures oversubscribed
Aug 29, 2013 (LBO) – Sri Lanka’s Softlogic Finance said a debenture offer of 500 million rupees was oversubscribed.The bond sale had attracted orders of 527 million rupees from commercial banks, institutions, development banks, institutions and retail buyers. The firm offered bonds paying a fixed rate annually, every six months and monthly. The sale was […]