Category: Banking and Finance
Sri Lanka can play an important role in world growth: British HC
Nov 26, 2015 (LBO) – Sri Lanka as an emerging economy can play a significant part in future world growth by unlocking it’s full potential through the right policies and reforms, the British High Commissioner said. “Emerging and developing countries will be increasingly important in driving global growth in the medium term,” James Dauris, British High Commissioner […]
Blanket guarantee for Finance Companies questionable: Theagarajah
Nov 25, 2015 (LBO) – Sri Lanka’s Finance Ministry is to provide a blanket guarantee for finance companies which needs to be reconsidered, Chief Executive Officer of NDB, Rajendra Theagarajah said.Finance minister delivering the budget speech said the Central Bank will provide a 100 percent guarantee on all deposits for all registered finance companies by […]
Sri Lanka capital to have International Financial Centre
Nov 20, 2015 (LBO) – Sri Lanka’s government will make an international financial centre in Colombo, Finance Minister Ravi Karunanayake said while delivering the budget 2016 speech.A “Colombo International Financial Centre (CIFC)”, a specific zone along the lines of Dubai’s International Financial Centre will begin operations on DR Wijewardene Mawatha, he said. “Our geographical location in […]
Sri Lanka’s LOLC September net up 36-pct with growing incomes
Nov 18, 2015 (LBO) – Sri Lanka’s LOLC group which has interest in financial services, insurance, plantations, trading and leisure said net profits for the September quarter rose 36 percent to 2.1 billion rupees. The group reported earnings per share of 4.54 rupees for the quarter up from 3.34 from a year earlier. For the […]
Sri Lanka’s Sampath Bank net up 69-pct in Sept quarter
Nov 17, 2015 (LBO) – Profits at Sri Lanka’s Sampath Bank group rose to 1.9 billion rupees in September quarter, up 69 percent from a year earlier, helped by other operating income, despite higher loan losses, interim accounts showed.The group reported earnings of 10.92 rupees for the quarter. For the nine months to September the […]
Sri Lanka’s NDB net down 32-pct in September
Nov 13, 2015 (LBO) Sri Lanka’s National Development Bank PLC reported a 32 percent dip in profits to 855 million rupees in the September quarter of 2015 compared to the same period in 2014, interim report showed. NDB reported earnings per share of 5.13 rupees for the quarter, interim accounts filed with the Colombo Stock […]
Sri Lanka stocks close down 0.2-pct: Budget concerns
Nov 11, 2015 (LBO) – Sri Lankan stocks closed down at 0.18 percent on Thursday a third consecutive session with investors keeping on the sidelines over budget concerns, brokers said. The Colombo benchmark All Share Price Index closed down 12.88 points at 7,006.35 lower 0.18 percent. S&P SL20 closed 9.39 points lower at 3,781.22 down 0.25 […]
Sri Lanka’s HDFC Bank to raise Rs4bn from listed debenture
Nov 07, 2015 (LBO) – Sri Lanka’s HDFC Bank is to raise 4.0 billion rupees from a listed debenture issue, the company said in a stock exchange filing.The company has decided to issue 30 million debentures at 100 rupees each with an option to issue up to a further 10 million debentures in the event […]
Sri Lanka to give freehold lands and houses, 500,000 new houses to be constructed
Nov 05, 2015 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe today said that the government plans to give freehold lands and houses to the people who have been enjoying it and will construct 500,000 new houses in rural, semi urban and urban areas.Making a special statement at the Parliament today Prime Minister Wickremesinghe said that […]
Sri Lanka urged to bring legislations for policy reforms: Harsha De Silva
Nov 05, 2015 (LBO) – Sri Lanka should urgently bring legislations to give effect to the needed policy reforms to become a highly competitive social market economy, Deputy Minister Harsha De Silva said.“The 3rd generation economic reforms, as referred to and presented by Prime Minister Ranil Wickremesinghe today in Parliament, has gone beyond even what […]
Sri Lanka’s Sampath Bank to raise Rs7bn from listed debenture
Nov 04, 2015 (LBO) – Sri Lanka’s Sampath Bank is to raise 7.0 billion rupees from a listed debenture issue, the bank said in a stock exchange filing. The bank has decided to issue 50 million debentures at 100 rupees each with an option, to issue up to a further 20 million debentures in the event of […]
Bank of Tokyo Mitsubishi to set up a rep office, ease Japanese investment
Oct 29, 2015 (LBO) – The Bank of Tokyo Mitsubishi UFG Ltd (BTMU) formally announced that it will be opening a new representative office in Sri Lanka at the end of March 2016, subject to regulatory approval in Japan, Board of Investment said in a release. This initiative plans to facilitate investment by Japanese companies […]