Category: Banking and Finance

Feb. 01 (LBO) – Aviva, UK’s largest insurance giant’s, picked up controlling stake in Eagle Insurance Ltd for £15 million or Rs. 2.7 billion, the firm said Wednesday. At present ranked the world’s sixth largest insurance group based on gross worldwide premiums, Aviva said 51 percent also came with a partnership with Eagle’s parent NDB […]

Feb. 01 (LBO) – Sri Lanka plans to issue a US$ 25 million sovereign bond to expatriate countrymen this week, to fund the island’s rebuilding efforts, officials said Wednesday. The small issue will not use the country’s credit rating as a marketing tool, but the government is keen to accept any extra bids over an […]

Jan. 31 (LBO) ? Sri Lanka’s leasing industry is asking authorities to allow them to raise public deposits in return for infusing higher capital into the business, industry officials said.Jan. 31 (LBO) ? Sri Lanka’s leasing industry is asking authorities to allow them to raise public deposits in return for infusing higher capital into the […]

Jan. 30 (LBO) ? Sri Lanka’s state-run Bank of Ceylon said Monday, that a generally upbeat sentiment in business helped its profits swell by 13 percent for the past year.Jan. 30 (LBO) ? Sri Lanka’s state-run Bank of Ceylon said Monday, that a generally upbeat sentiment in business helped its profits swell by 13 percent […]

Sri Lankan venture capital firm, V Capital will invest in the luxury homes business, after exiting all its earlier investments.Sri Lankan venture capital firm, V Capital will invest in the luxury homes business, after exiting all its earlier investments. Formally knows as C F Ventures, V Capital recently restructured under a new, Malaysia based majority […]

Jan. 29 (LBO) – Mumbai based UTI Bank has sought a license to set up a commercial bank in Sri Lanka, soon after ICICI bank was given the go ahead to start operations by the Central Bank of Sri Lanka.Pending the license, UTI Bank has tied with Asia Capital, the parent company of Asia Securities, […]

Jan. 24 (LBO) ? Sri Lanka’s DFCC Vardhana Bank retained its AA- (sri) rating for its senior unsecured long-term rating from Fitch Ratings Lanka, the agency said Tuesday. Jan. 24 (LBO) ? Sri Lanka’s DFCC Vardhana Bank retained its AA- (sri) rating for its senior unsecured long-term rating from Fitch Ratings Lanka, the agency said […]

Jan. 24 (LBO) – Sri Lanka’s Board of Investment Tuesday dished out several tax incentives, encouraging investors to set up 300 new factories in rural regions of the country.Jan. 24 (LBO) – Sri Lanka’s Board of Investment Tuesday dished out several tax incentives, encouraging investors to set up 300 new factories in rural regions of […]

Jan.21 (LBO) — Aviva, UK’s largest insurance giant’s serious interest in Eagle Insurance, is said to have triggered Friday’s unsolicited bid by John Keells Holdings and Carsons for a controlling stake in the small insurance firm, market sources said. Jan.21 (LBO) — Aviva, UK’s largest insurance giant’s serious interest in Eagle Insurance, is said to […]

Jan.20 (LBO) – Sri Lanka plans use its sovereign rating and issue up to a billion dollars in overseas bonds this year to pay for key infrastructure projects, Treasury Secretary P B Jayasundara said Friday.Jan.20 (LBO) – Sri Lanka plans use its sovereign rating and issue up to a billion dollars in overseas bonds this […]

Jan. 20 (LBO) – Sri Lanka is likely to have stable interest rates for at least six months, a top bureaucrat who is central to the country’s fiscal and monetary policies said Friday. “We think the Sri Lankan economy is still on a growing path and that growth should at least in the first six […]

Jan. 20 (LBO) – Sri Lanka’s John Keells Holdings and Carson Cumberbatch & Co. Ltd have made a joint offer to buy the controlling stake in Eagle Insurance from National Development Bank, a statement said Friday. Jan. 20 (LBO) – Sri Lanka’s John Keells Holdings and Carson Cumberbatch & Co. Ltd have made a joint […]