Category: Banking and Finance
President assures CB bond issue investigation free from political interference
Nov 04, 2016 (LBO) – Sri Lanka’s president assured that the investigation into Central Bank bond issue will be free from political interference and that there will an independent, impartial judicial process. The investigation into the Central Bank bond issue should be free from political interference, President Maithripala Sirisena said, adding that the investigation regarding […]
Japan looks at SME business opportunities in Sri Lanka
Nov 02, 2016 (LBO) – Representatives from the World Business Society of Tokyo Small and Medium Enterprise Consultant Association (WBS) are currently visiting Sri Lanka to evaluate investment opportunities, the Board of Investment of Sri Lanka (BOI) said. The visiting delegation consisted of representatives of 19 Japanese enterprises who will act as consultants. They will […]
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Oct 31, 2016 (LBO) – Sri Lanka’s Value Added Tax (VAT) hike 15 percent from 11 percent will make the island credit positive as it will facilitate fiscal consolidation by strengthening low revenue-to GDP ratio, Moody’s Investors Service said. “The government originally implemented the VAT hike in May, but retracted it in July after a […]
Sri Lanka’s Fin Min to release Rs4bn for Golden Key depositors
Oct 27, 2016 (LBO) –Sri Lanka’s cabinet has approved a proposal to release an advance of 4.05 billion rupees to the Central Bank in order to pay the eligible depositors of Golden Key Credit Card Company. According to the repayment plan for the security deposit holders of Golden Key approved by the Supreme Court, the […]
Sri Lanka’s Commercial Bank listed debenture oversubscribed
Oct 24, 2016 (LBO) – Sri Lanka’s Commercial Bank said a listed debt offer for seven billion rupees had been oversubscribed Monday and is closing on the same day. The bank offered 50 million debentures at 100 rupees each with an option to issue 20 million further. Fitch Ratings Lanka assigned the Basel II-compliant subordinated […]
Commercial Bank honoured in USA& Hong Kong
(PRESS RELEASE) – As the financial year draws to a close, the Commercial Bank of Ceylon has been presented with two more significant global awards in Washington DC and Hong Kong. Commercial Bank Chairman Mr Dharma Dheerasinghe and Managing Director Mr Jegan Durairatnam received the Global Finance award for the Best Bank in Sri Lanka […]
Sri Lanka’s HNB to raise Rs6bn from listed debenture
Oct 19, 2016 (LBO) – Sri Lanka’s Hatton National Bank is to raise 6.0 billion rupees from a listed debenture issue, the bank said in a stock exchange filing. The bank has decided to issue rated, subordinated, unsecured, redeemable debentures worth 5.0 billion rupees with an option to go up to 6.0 billion rupees. NDB […]
Fitch downgrades PABC, Affirms four small and mid-sized banks
Oct 17, 2016 (LBO) – Sri Lanka Fitch has downgraded Pan Asia Banking Corporation’s (PABC) National Long-Term Rating to ‘BBB-(lka)’ from ‘BBB(lka)’ and confirmed ratings of four small, mid-size banks, a statement said. The Outlook on PABC is revised to Stable from Negative, the rating agency said in a statement. The National Long-Term Ratings on […]
Commercial Bank’s Rs5bn debenture issue opens on Oct 24
Oct 17, 2016 (LBO) – Sri Lanka’s Commercial Bank of Ceylon second issue of debentures for 2016 is to open on 24th October, the bank said in a statement. The Bank is seeking to raise 5 billion rupees with an option to increase it by a further 2 billion to strengthen its Tier II capital […]
Sri Lanka’s Commercial Bank to raise Rs7bn from listed debenture
Oct 14, 2016 (LBO) – Sri Lanka’s Commercial 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 rated, unsecured, subordinated, redeemable debentures worth 5.0 billion rupees with an option to go up to 7.0 billion rupees. The proposed […]
Asian Alliance changes name to Softlogic Life Insurance
Oct 11, 2016 (LBO) – Shareholders of Asian Alliance Insurance today approved a special resolution to change its name into Softlogic Life Insurance, the company said in a stock exchange filing. The move comes after Asian Alliance Insurance sold its stake in Asian Alliance General Insurance business. On 24th June 2016, the company agreed to […]
Asian shares mixed, oil jumps on output curb expectations
SINGAPORE, Oct 11 (Reuters) – Asian shares were mixed in early Asian trading on Tuesday after oil prices surged to a one-year high and optimism over Hillary Clinton’s widening lead in the U.S. presidential election campaign pushed Wall Street higher. Brent crude rose to as high as $53.73 on Monday, the highest level since Oct. […]