Category: Economy and Markets
‘s Jetwing Hotels to manage Bansei Royal Resorts
Oct 20, 2014 (LBO) – Sri Lanka’s Bansei Royal Resorts has entered into a new management agreement with Jetwing Hotels to manage the hotels operationally, the company said in a stock exchange filing. New agreement will come into force from December this year as the previous agreement with Amaya Leisure was terminated from 01st October […]
Sri Lanka shares close down 0.3-pct
Oct 20, 2014 (LBO) – Sri Lanka’s shares closed lower starting the week on a negative note with Commercial Bank and Nestle Lanka contributing most to the index drop, brokers said. The Colombo benchmark All Share Price Index closed 21.02 points lower at 7,213.45, down 0.29 percent. The S&P SL20 closed 21.39 points lower at […]
Sri Lanka to construct 537 rural bridges with an investment of US $162mn
Oct 20, 2014 (LBO) – Sri Lanka to construct and rehabilitate about 537 rural bridges with a credit facility of 162 million US dollars, provided by The Deutsche Bank AG (London) and the Bank of Tokyo-Mitsubishi UFG Ltd Finance ministry of Sri Lanka said. Added to that the ministry says the development of these bridges […]
Sri Lanka to establish a regulatory council to monitor issues in finance sector
Oct 20, 2014 (LBO) Sri Lanka’s cabinet of ministers had given approval to establish an Inter Regulatory Institutions Council with a view of identifying issues that require collective action by financial sector regulators.Establishment of the council plans to promote financial system stability and the development of the financial sector. Financial institutions include licensed banks, licensed […]
Sri Lanka stocks close down 0.31-pct
Oct 17, 2014 (LBO) – Sri Lanka’s indices closed lower Friday with banking and diversified stocks losing ground, brokers said. The Colombo benchmark All Share Price Index closed 22.60 points lower at 7,234.47, down 0.31 percent. The S&P SL20 closed 26.84 points lower at 4,029.55, down 0.66 percent. Turnover was 1.02 billion rupees, down from […]
Sri Lanka stocks close down 0.44-pct
Oct 16, 2014 (LBO) – Sri Lanka’s indices closed in the red with telco and banking stocks losing ground despite strong foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 31.76 points lower at 7,257.07, down 0.44 percent. The S&P SL20 closed 8.45 points lower at 4,056.39, down 0.21 percent. Turnover was […]
EXIM Malaysia sees expanding investments with Sri Lanka
Oct 16, 2014 (LBO) – Malaysian Export Import (EXIM) bank said that they are looking at opportunities in investing and helping with the rapid economic development in Sri Lanka. We are very much delighted to be here, Adissadikin Bin Ali, President and the Chief Executive of EXIM Bank Malaysia said. I have seen very impressive […]
Sri Lanka shares close up 1.16-pct
Oct 15, 2014 (LBO) – Sri Lanka’s shares gained on Wednesday with the positive price movements in banking and diversified stocks amid net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 83.36 points higher at 7,288.83, up 1.16 percent. The S&P SL20 closed 53.09 points higher at 4,064.84, up 1.32 percent. […]
Sri Lanka 12-month Treasuries up, other bids rejected
Oct 15, 2014 (LBO) – Sri Lanka’s 12-month Treasuries yield increased 11 basis points to 6.00 percent at Wednesday’s auction while the state debt office rejected bids for other maturities. The debt office which is a part of the island’s central bank has accepted 14.74 billion in 12-month treasury bills after offering 8.00 billion in […]
’s
Oct 13, 2014 (LBO) – Sri Lanka needs a credit rating system especially for the small and medium businesses to have easy access to finance, said Saman Kelegama, director of the Institute of Policy Studies, a think tank. Access to finance remains a key constraint for SME’s growth, with a one trillion dollar credit gap […]
Sri Lanka stocks close down 1.9-pct
Oct 13, 2014 (LBO) – Sri Lanka’s stocks closed 1.87 percent lower amid banking stocks losing ground with the central bank’s guidelines on tax incentives to promote financial sector consolidation, brokers said. Commercial Bank of Ceylon closed 9.90 rupees lower at 157.30 rupees and DFCC Bank closed 14.40 rupees lower at 215.40 rupees, contributing most […]
’s: Chamber
Oct 13, 2014 (LBO) – Sri Lanka’s small and medium enterprises are encouraged to partner with big companies, so they could take advantage of consumer market and finance. The forum has organized by the Ceylon Chamber of Commerce who will bring together all stakeholders in the SME sector including policy makers, banks, service providers, technocrats […]