Category: Economy and Markets
Asian debt markets quadruples over the past seven years: HSBC Official
June 08, 2015 (LBO) – Asian debt capital markets have quadrupled over the past seven years and growth momentum will continue in the years to come, a HSBC official said.“It would be incorrect to say that debt market can’t grow at a frantic pace,” Kartik N, Director Debt Capital Markets of Asia Pacific at HSBC […]
Stocks close higher 0.03-pct; Records lowest turnover since 20 April
Jun 05, 2015 (LBO) – Sri Lanka’s stocks closed higher at 0.03 percent after four consecutive days of losses with index heavy John Keells Holdings showing gains, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 1.82 points higher at 7,122.73 up 0.03 percent. The S&P SL20 closed 15.60 points higher at 3,961.14 […]
Nestle India to pull out Maggi Noodles off the shelves
June 5, 2015 (LBO) – Nestle India said that it will pull out all the Maggi noodle products from Indian shelves.Releasing a statement Nestle India said, “MAGGI Noodles are completely safe and have been trusted in India for over 30 years,” “The trust of our consumers and the safety of our products is our first […]
Sri Lanka’s Finance ministry to fund halted projects in Colombo
June 5, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake yesterday said that the government will allocate 1,296 million rupees for 390 projects in the Colombo District which were halted due to lack of funding.“These projects should have been completed last year.But the government has not given funds,” Karunanayake told LBO. “So now we […]
Sri Lanka State Sector Workers Need Training To Improve Efficiency: Eran
June 5, 2015 (LBO) – Sri Lanka’s state sector employees need training to provide a more efficient and professional service to the public, which will be a top priority of the government, Deputy Minister of Highways, Higher Education and Investment Promotion, Eran Wickramaratne told LBO.“Sri Lanka expects a highly professional and efficient public service. So […]
‘s Litro has no plans to increase gas prices; Says no shortage
Jun 05, 2015 (LBO) – Sri Lanka’s Litro Gas Lanka, the largest importer and supplier of Liquid Petroleum Gas (LPG) in the Island, says that there will be no immediate price revision by the company and there is no gas shortage in Sri Lanka. “There are no plans to increase the price of gas in […]
Lanka Rating Agency Restrained By SEC from providing new ratings
June 4, 2015 (LBO) -The Securities & Exchange Commission of Sri Lanka (SEC) has taken steps to restrain Lanka Rating Agency Ltd from providing new ratings with effect from 25th March 2015 until the company complies with regulatory requirements imposed by the Commission, the security watch dog said in a statement today. “The Commission took […]
Stocks Close Down 0.4-pct; Political Uncertainty Keeps Investors Away
Jun 04, 2015 (LBO) – Sri Lanka’s stocks closed down for a fourth consecutive day with the country’s political uncertainty affecting investor confidence, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 28.55 points lower at 7,120.91 down 0.4 percent. The S&P SL20 closed 15. 48 points lower at 3,945.54 down 0.39 percent. […]
‘s Nawaloka Hospital Enters Elder Care Service Business
EJune 4, 2015 (LBO) – Sri Lanka’s Nawaloka Medical Centre (Pvt) Ltd, a subsidiary of Nawaloka Hospital signed a memorandum of understanding with Harmony and Fusion International Pvt Ltd to put up elder care service business.The joint venture will carry out the service under Nawaloka Guardina International (Pvt) Ltd, in which Nawaloka Medical Centre (Pvt) […]
‘s Rs5bn Debt Issue Oversubscribed
June 4, 2015 (LBO) – Sri Lanka’s DFCC Vardhana Bank said, that it issued five billion subordinated and senior unsecured listed redeemable rated 5-year listed debt in order to raise 5 billion rupee funds to utilize for on-going lending activities of the bank.The “Type A”, senior, unsecured, listed, redeemable, rated five year (2015/2020) debentures was […]
Sri Lanka Chemcel operations to cease
Jun 04, 2015 (LBO) – Archer Daniels Midland, a multinational said that its closing the Sri Lankan unit of chemicals manufacturing, Chemcel (Pvt) limited, in which Chemanex PLC also has a stake. “Archer Daniels Midland Europe BV, the main shareholder of Chemcel, has informed us that Chemcel will cease operations based on a number of […]
Sri Lanka’s T-bill yields close flat on Wednesday
June 3, 2015 (LBO) – Sri Lanka’s Treasury bill yields close flat at Wednesday’s auction with 3-months yield unchanged at 6.07 percent while 6-month yields also were flat at 6.18 percent, data from the state debt office showed.It was decided to accept 6,632 million rupees from the auction of 03 month yields from received 19,629 […]