Category: Economy and Markets
Sri Lanka Treasuries yields steady
May 21, 2013 (LBO) – Sri Lanka’s Treasuries yields were steady at Wednesday’s auction with the three month yield flat at 8.75 percent, data from the state debt office showed.The 6-month yield fell 01 basis point to 9.90 percent and the 12-month yield rose 02 basis points to 10.86 percent. The debt office which is […]
”’ by Fitch
May 21, 2013 (LBO) – Fitch ratings has given an ‘AAA(lka)’ national fund credit rating form Ceylon Gilt Edged Fund, managed by Ceylon Asset Management (CAM). Fitch said the rating was driven by the fund’s investments in government securities which was considered ‘AAA(lka)’. The fund was also given a ‘V1(lka)’ national fund volatility rating. “The […]
Sri Lanka conglomerates are investment brands
May 21, 2013 (LBO) – Sri Lankan conglomerates that had attracted strong foreign investor interest had built resilient investment brands, top executives involved in managing multi-national companies said.Punters in international markets also react like consumers do to brand, as conglomerates which are not easy hermes bags analyze, Lalith de Mel, chairman Hemas Plc and former […]
‘s Mercantile Investments to sell Rs1bn bonds
May 20, 2013 (LBO) – Sri Lanka’s Mercantile Investments and Finance Plc (MIF) plans to sell one billion rupees in senior unsecured debt which has been rated ‘BBB+’ by RAM Ratings Lanka. The full statement is reproduced below:- Mercantile Investment and Finance PLC’s LKR 1 billion Senior Unsecured Listed Debentures (2013/2018) assigned BBB+/P2. RAM Ratings […]
Sri Lanka stocks close up 1.3-pct
May 20, 2013 (LBO) – Sri Lanka’s stock closed up 1.35 percent on Monday, driven by an extended rally in index heavy John Keells Holdings, though some selling was seen in the broader market, brokers said. LB Finance closed at 128.80 rupees down 3.90 rupees, Peoples Leasing and Finance gained 30 cents to close at […]
Sri Lanka business and universities forging closer links: Ceylon Chamber
May 19, 2013 (LBO) – Sri Lankan firms are collaborating with universities to make new and higher value products and services, and was also consulting on management development, a business chamber said.The management and finance faculty of the University of Colombo had done a salary survey and restructuring for a public quoted company and a […]
Sri Lanka trade deficit obsession misplaced: focus
May 18, 2013(LBO) – Sri Lanka’s obsession with trade deficits is misplaced because it ignores the broader exchanges including services that take place between citizens of one county and another, economists and officials have said. Saman Kelegama, head of the Institute of Policy Studies, a think tank, said the obsession was particularly strong in relation […]
‘s Bogala Graphite returns to profit
May 18, 2013 (LBO) – Sri Lanka’s Bogala Graphite Plc, a unit of Germany’s AMG Mining AG, returned to a profit of 15.6 million rupees in the March 2013 quarter despite a fall in revenues as forex losses last year reversed.The foreign exchange gain for the current period from a Euro loan was 8.5 million […]
Sri Lanka trade deficit obsession misplaced: focus
May 18, 2013(LBO) – Sri Lanka’s obsession with trade deficits is misplaced because it ignores the broader exchanges including services that take place between citizens of one county and another, economists and officials have said.Saman Kelegama, head of the Institute of Policy Studies, a think tank, said the obsession was particularly strong in relation to […]
Ecuador stops Sri Lanka-US migrant smuggling ring
QUITO, May 16, 2013 (AFP) – A ring that smuggled immigrants from India and Sri Lanka into the United States through Ecuador has been broken up with the arrest of six people, Ecuadoran authorities said Thursday.Police, who said the arrests were made following a two-month investigation, seized documents, laptop computers and nearly $100,000 in cash. […]
Sri Lanka says minefields cleared for re-settlement
COLOMBO, May 16, 2013 (AFP) – Sri Lankan troops have completed clearing mines from all areas needed for re-settlement and farming in the island’s former war zone, the military said Thursday, nearly four years after crushing Tamil rebels.Sri Lanka’s army reported one soldier died and 15 were wounded during the mine clearing, while several civilians […]
Sri Lanka beckons foreign workers
May 17, 2013 (LBO) – Sri Lanka’s post-war economic revival and tightening labour markets are throwing up opportunities for workers from abroad, including those who had left the island, business and state officials said.Central Bank Governor Ajith Cabraal said at the launch of the website that soon after he qualified as an accountant in 1976, […]