Category: Banking and Finance
Sri Lanka stocks close up 0.13-pct: JKH warrant 22 hits new low
Sep 14, 2015 (LBO) – Sri Lankan stocks closed up 0.13 percent on Monday following Foreign Minister Mangala Samaraweera’s statement at UN Human Rights Council session with some banks and high cap stocks showing gains, brokers said. The Colombo benchmark All Share Price Index closed up 8.95 points at 7,162.44 higher 0.13 percent. S&P SL20 closed […]
Asian stocks mixed amid new Chinese data and Fed uncertainty
Sep 14, 2015 (LBO) – Asian stocks were showed mixed sentiment in cautious trade on Monday, according to foreign media reports as investors grew cautious over new Chinese data released Sunday and an expected Federal Reserve’s policy meeting later this week. Japan shares fell and Chinese markets wavered Monday, after economic data over the weekend […]
Sri Lanka CEB sees USD13 bn investment in power plants over next 20 years
Sep 11, 2015 (LBO) – Sri Lanka’s Ceylon Electricity Board says the total estimated cost to implement the 2015-2034 long-term electricity generation plan is approximately 13 billion US dollars. The generation plan says: “The total investment required for implementing the Base Case Plan 2015-2034 in the next 20 years is approximately USD 12.96 Billion without […]
Sri Lanka stocks close down 0.09-pct
Sep 11, 2015 (LBO) – Sri Lankan stocks closed down 0.09 percent on Friday mainly on concerns of exchange rate and balance of payment issues with some telecom and banking sector stocks showing losses, brokers said. The Colombo benchmark All Share Price Index closed down 6.45 points at 7,153.49 lower 0.09 percent. S&P SL20 closed […]
Fitch affirms Citibank Colombo branch at AAA
Sep 11, 2015 (LBO) – Fitch Ratings Lanka has affirmed Citibank Colombo Branch’s National Long-Term Rating at ‘AAA(lka)’ with a stable outlook. KEY RATING DRIVERS NATIONAL RATINGS CitiSL’s rating is the highest on the National Rating scale and reflects the credit profile and financial strength of Citibank, N.A. (A+/Stable). Citibank, N.A.’s rating is higher than Sri […]
Sri Lanka’s foreign affairs deputy Harsha de Silva says “This is where the game is”
Sep 11, 2015 (LBO) – Sri Lanka’s new Deputy Minister of Foreign Affairs Harsha de Silva told Lanka Business Online that discussions are on to develop a foreign policy towards achieving the island’s economic goals through diplomacy, and he is excited about the new task given. “This is a good opportunity,” de Silva said. “We […]
Reforms needed for better Sri Lanka female labor force participation: World Bank
Sep 10, 2015 (LBO) – Legal discrimination, which can affect female labor force participation, is prevalent in Sri Lanka, a new World Bank report says. “Women are prohibited from working in the mining sector and restricted from certain tasks/functions in factories,” the World Banks group’s Women, Business and the Law 2016 report, released Wednesday said. “Moreover, there […]
‘s Pan Asia Bank to issue 20mn debt
Sep 07, 2015 (LBO) – Sri Lanka’s Pan Asia banking corporation will issue a 20 million debt with an option to issue more, the Company said in a stock exchange filling.“We will issue 20,000,000 rated , unsecured, senior, redeemable debentures with an option to issue up to a further 10,000,000 debentures and with a further […]
Sanasa Bank to get IFC advice on small businesses and cooperatives
Sep 07, 2015 (LBO) – International Finance Corporation (IFC), a member of the World Bank Group, will provide advisory services to Sanasa Development Bank as it expands into micro and small businesses, cooperatives, and retail clients, a media release said. “Sanasa Development Bank’s growth strategy involves long-term sustainable growth in three important sectors, SME, retail, and […]
Sri Lanka HNB Senior and Subordinated Debt gets AA-, A+ ratings :Fitch
Sep 04, 2015 (LBO) – Fitch Ratings has assigned Hatton National Bank proposed senior unsecured and subordinated debentures a expected National Long-Term Ratings of ‘AA-(lka)(EXP)’ and ‘A+(lka)(EXP) respectively. Full Statement follows: Fitch Ratings has assigned Hatton National Bank PLC’s (HNB; AA-(lka)/Stable) proposed senior unsecured and subordinated debentures expected National Long-Term Ratings of ‘AA-(lka)(EXP)’ and ‘A+(lka)(EXP) […]
Asia Securities says S&P telecoms report on Sri Lanka unjustified
Sep 04,2015 (LBO) – Sri Lanka’s Asia Securities says it is bullish on the Sri Lanka telecommunication sector even though a recently released report by Standard & Poor’s ratings agency sees telecom regulatory risk in Sri Lanka as high. S&P highlighted that they see a high regulatory risk in Sri Lanka with regulatory disruptions such […]
Coca Cola Sri Lanka license suspended until it addresses contamination: CEA
Aug 31, 2015 (LBO) – The environmental protection license of Coca Cola’s Sri Lanka unit will remain suspended until the company responds to an oil seepage into the Kelani river, an official of the Central Environmental Authority said. “Their operations are halted until they respond appropriately to the situation,” Sunil Udukula, the deputy director media […]