Category: Companies
”’ international rating confirmed: Fitch
Sept 18, 2013 (LBO) – Fitch Ratings said a ‘B+’ international rating of Sri Lanka’s People’s Leasing and Finance has been confirmed with a stable outlook. The company’s domestic ‘AA(lka)’ rating has also been confirmed. People Leasing is a unit of Sri Lanka’s state-run People’s Bank. The full statement is reproduced below: Fitch Affirms People’s […]
Rail Connection
COLOMBO, September 14, 2013 (AFP) – A train linking the political home of Sri Lanka’s Tamil Tiger rebels with the rest of the island rolled into service on Saturday after a 23-year interruption, officials said.The Sinhalese-dominated government is under international pressure to promote ethnic reconciliation and investigate allegations of war crimes by its forces in […]
US nominee for South Asia post sees strong Indian economy
WASHINGTON, September 12, 2013 (AFP) – The nominee to be the top US diplomat for South Asia said Thursday that India’s economy remained strong despite recent concerns, and that further liberalization would strengthen relations. Biswal would replace Robert Blake, a former US ambassador to Sri Lanka who frequently urged the island to provide greater accountability […]
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 […]