Category: Economy and Markets
Sri Lanka in deal for US$580mn from China Development Bank
May 22, 2013 (LBO) – Sri Lanka has signed a deal with China Development Bank to borrow 580 million US dollars in 2013 for projects in 2013, the state information office said.The cabinet of ministers had approved a proposal by President Mahinda Rajapaksa as finance minister to sign a memorandum of understanding with CDB. CDB […]
Sri Lanka stocks close down 0.3-pct
May 21, 2013 (LBO) – Sri Lanka’s stocks closed down 0.39 percent on Tuesday, following three consecutive days of gains due to a negative impact from the index heavy stocks, brokers said. Distilleries Company of Sri Lanka gained 60 cents to close 190.10 rupees while The Lion Brewery gained 6.50 rupees to close at 386.50 […]
Sri Lanka gilt edged funds approved as liquid assets for banks
May 21, 2013 (LBO) – Sri Lanka’s Central Bank which regulates banks and finance companies had allowed mutual funds that invest in government debt to be considered liquid assets, the Securities and Exchange Commission said.The move will allow mutual funds invested in gilts or gilt unit trusts to be bought by pension and provident funds, […]
Sri Lanka branding forum kicks off in Colombo
May 21, 2013 (LBO) – A high level conference on building resilient brands kicked off in Colombo Wednesday featuring high level speakers and panelists from Sri Lanka and abroad. http://www.lankabusinessonline.com/summit/hangout Facebook page: https://www.facebook.com/pages/LBR-LBO/161852393984690 Event rundown IST: 0900 1045 HRS GMT/UTC: 0330-0515 HRS Resilient Brands, Resilient Enterprises Peter D’Almeida, Managing Director/N*able (session Char) Deshamanya J. C. […]
Singer Sri Lanka debentures oversubscribed
May 21, 2013 (LBO) – A 1.5 billion rupee debenture offer by Singer (Sri Lanka) Plc has been oversubscribed, registrars to the issue said. The issue will close at 4.30 pm today. Singer offered 10 million unsecured debentures of 100 rupees each, up-sized to 15 million in the event of an over subscription. .
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 […]
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 […]
‘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 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 […]