Category: Banking and Finance
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 […]
Fitch affirms ratings on five Sri Lankan banks
Oct 23, 2015 (LBO) – Sri Lanka’s Fitch Ratings has affirmed the National Long Term Ratings on five small and mid-sized Sri Lankan banks. The rating announcement is reproduced below. Nations Trust Bank PLC (NTB) has been affirmed at ‘A(lka)’, Pan Asia Banking Corporation PLC (PABC) at ‘BBB(lka)’, Sanasa Development Bank PLC (Sanasa) at ‘BB+(lka)’, […]
Sri Lanka stocks close up 0.2-pct driven by retail activity
Oct 22, 2015 (LBO) – Sri Lankan stocks closed up 0.19 percent on Thursday for a third consecutive day driven by retail activity with gains in index heavy stocks, brokers said. The Colombo benchmark All Share Price Index closed higher 13.18 points at 7,068.85 higher 0.19 percent. S&P SL20 closed 10.24 points higher at 3,819.07 up […]
Innovation is the key for developing Sri Lanka: W.A. Wijewardena
Oct 22, 2015 (LBO) – Sri Lanka should move in to production based on high innovative technology as the traditional methods of production do not help Sri Lanka to be competitive in the global market and achieve higher productivity, an ex-Central Banker said “We must go for new innovation,” W.A. Wijewardena, former Deputy Governor of […]
Finance Minister introduces optional plan for banks to pay Super Gains Tax
Oct 20, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake revealed in Parliament on Tuesday that an optional plan has been introduced for banks to pay super gains tax. “Instead of banks paying (the tax directly) we are giving the opportunity back to them,” Karunanayake said. “So instead of paying 1 billion we call […]
Sri Lanka to seize 8 foreign accounts in Dubai: Cabinet Spokesman
Oct 15, 2015 (LBO) –Sri Lanka has found eight bank accounts in a Dubai bank belonging to powerful politically affiliated people and plans are underway to seize all the accounts, Cabinet Spokesman Minister Rajitha Senaratne told reporters on Thursday.“We have uncovered eight accounts hidden in Dubai,” Minister Rajitha Senaratne told at a press briefing held […]
Treasury grants advance of Rs4.5bn to pay Golden key depositors
Oct 15, 2015 (LBO) – Sri Lanka’s cabinet has approved a proposal to release an advance of 3.94 billion rupees from the treasury to the Central Bank for the repayment of the second stage of Golden key depositors.The second stage covers deposits from 2 to 10 million rupees.The cabinet earlier approved a repayment schedule prepared […]
” rating: Fitch
Oct 14, 2015 (LBO) – Fitch Ratings Lanka has assigned Sri Lanka’s Bimputh Finance plc with a national long-term rating of ‘BB(lka)’ and a stable outlook. The full statement follows: Fitch Assigns ‘BB(lka)’ Rating to Bimputh Finance; Outlook Stable Fitch Ratings Lanka has assigned Sri Lanka-based Bimputh Finance PLC (Bimputh) a National Long-Term Rating of […]
Capital Alliance Finance to raise Rs116mn through rights issue
Oct 13, 2015 (LBO) – Sri Lanka’s finance firm, Capital Alliance Finance is to raise 116 million rupees by way of a rights issue, the company said in a stock exchange filing.Subject to the necessary approvals, the company is to issue 7.75 million shares at 15 rupees each in the ratio of one for every […]