Category: Economy and Markets
Sri Lanka CPC loss Rs5bn in the first four months to April 2015
July 2, 2015 (LBO) – Sri Lanka’s Ceylon Petroleum Corporation, reported a loss of 5 billion rupees by the end of month of April 2015 despite the oil price reduction of the world market, state statistics report showed.The CPC’s total cost of the petroleum products imports during the first four month is around 90 billion […]
SriLankan airline loss Rs4.9bn in first four months of 2015
July 2, 2015 (LBO) – Sri Lanka’s state owned SriLankan airline recorded a loss of 4.9 billion rupees during the first four months of 2015, statistics shows.This has been resulted to increase the accumulated losses of the airline to 130.9 billion rupees. The airline reported a revenue of 39.6 billion rupees during the period, which […]
Sri Lanka sells Rs2.0bn in 04 and 07 year bonds
July 02, 2015 (LBO) – The issue of treasury bonds amounting to 10 billion rupees have been oversubscribed with 18 billion rupees of bids received from investors.The central bank has accepted one billion rupees of four year bonds maturing on 01 May 2020 at a weighted average yield rate of 8.20 percent. The bond auction […]
Nawaloka Hospitals commences Rs2.5bn construction of multi-story car park
July 2, 2015 (LBO) – Sri Lanka’s Nawaloka Hospitals commenced construction of a 14 floor multi-storey car park and specialist center adjacent to the existing hospital complex with an investment of 2.5 billion rupees, the company said in a press release.This fifth phase of expansion of capacity since the hospital’s inception, will add 450,000 square […]
Commercial Leasing and Finance to issue debt
July 2, 2015 (LBO) – Sri Lanka’s Commercial Leasing and Finance to issue 50,000,000 rated, senior, unsecured, redeemable debentures at an issue price of 100 rupees each, the company said in a filing to stock exchange.The company says the Colombo Stock Exchange has approved the application for listing the debt securities of the company.The subscription […]
Joint Business Chambers urges political parties to nominate candidates of repute for elections
July 02, 2015 (LBO) – Sri Lanka’s Joint Business Chambers calls political parties to nominate candidates of repute for upcoming general election and endorse the ‘March 12th Declaration” an initiative of PAFFREL and the ‘Citizens’ Collective’, which identifies a set of minimum criteria that the political parties should use, in selecting candidates for all future […]
Lanka Rating Agency not entitled in law to carry on business as a Credit Rating Agency nor review ratings: SEC
July 1, 2015 (LBO) – Sri Lanka’s Securities and Exchange Commission of Sri Lanka (SEC), at its meeting held on the 29th of June 2015, decided that due notice be given to members of the public that, registration of Lanka Rating Agency Limited (LRA) as a Market Intermediary under the category of ‘Credit Rating Agency’ […]
Sri Lanka’s Access Engineering to enter property development sector
June 30, 2015 (LBO) – Sri Lanka’s leading construction company, Access Engineering is to enter into the highly growing property development sector with 524 million rupees of investment, the company said.The company has invested 273.6 million rupees to acquire Horizon Holdings Ventures private limited incorporated in this month.It has also invested 250.0 million rupees to […]
Sri Lanka 3 and 6 months Treasury bill yields up, 12 months flat: Central Bank
June 30, 2015 (LBO) – Sri Lanka’s Treasury bill yields were up at Tuesday’s auction with 3-months yield up 03 basis points to 6.11 percent and 6-month yields also were also up 03 basis points, to 6.21 percent, data from the state debt office showed. It was decided to accept 12,175 million rupees from the […]
Sri Lanka’s inflation at record low of 0.1-pct in June 2015
June 30, 2015 (LBO) – Sri Lanka’s inflation measured by Colombo Consumer Price Index has fallen to 0.1 percent in June 2015 from a year earlier, data from the statistics department showed. The index increased by 1.0 percent in the month to close at 181.6 points, after gaining from 0.7 percent in May 2015. The […]
Sri Lanka’s govt targets a USD 6000 per capita income within next five years – President
June 30, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena was quoted saying that the government expects to increase per capita income to 6000 US dollars, within next five years and comprehensive development will be formed in every field including investments and industries to achieve this. President Sirisena has made this comments while he was […]
Sri Lanka North calls for private investments
June 30, 2015 (LBO) – Sri Lanka’s Northern Province calls for private investments in water disposal, recycling, construction, health care, hospitality, trade and vocational targeting at increasing household income of the people.“Some of the fundamental problems faced by the people of the North and the East are their socio-economic problems, the post conflict trauma, livelihood […]