Category: Industry
Appointment
Sep 29, 2014 (LBO) – Sri Lanka’s Union Bank was appointed as a primary dealer in government securities in terms of the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance by the Central Bank, the bank said in a media release. Union Bank will commence its business on 1st of October, 2014.
British Airways to cease flights to Colombo by March 2015
Sep 25, 2014 (LBO) – British Airways announced that the flights operations to Colombo will be ceased from 28th March 2015 due to an unprofitability that the route makes, the company said in a media release.The Colombo route is not making a profitable contribution to our business and we are unable to sustain it, Christopher […]
SEC rules
Sep 25, 2014 (LBO) – Sri Lanka Security Exchange Commission says the managing companies and trustees of unit trust should maintain a minimum number of fifty unit holders for each fund at all the times, the commission said in the media release. Where the minimum number if unite holders falls below the specified minimum threshold […]
Equity Fund
Sep 25, 2014 (LBO) – Sri Lanka’s Ironwood Capital Partners, a private equity firm says that it has raised 30 million dollars for private equity investment vehicle for Sri Lanka post-2009 with an aim of strengthen the national economy through key strategic investments and support the development of the private equity industry in the country. […]
Sri Lanka Anilana Resorts and Properties in right issue
Sep 24, 2014 (LBO) – Sri Lanka’s Anilana Hotels and Properties Limited is to issue 109,624,114 ordinary shares for its shareholders to raise money to settle an existing debt and to finance the balance construction of a hotel project in Dambulla Sri Lanka, the company said in a Colombo Stock Exchange announcement. The rights issue […]
Sri Lanka to push medical tourism
September 19, 2014 (LBO) – Sri Lanka to push medical tourism in order to support the 20 billion dollars export target in year 2020 an official of Export Development Board said. EDB, which strongly believes in private public partnership approach, has decided to make the first ever national initiative to rally the healthcare providers as […]
Ratings
September 18, 2014 (LBO) – Sri Lanka’s Fitch Ratings has affirmed Citibank Colombo Branch’s (CitiSL) National Long-Term Rating at ‘AAA(lka) with a stable outlook , the rating agency osaid in a statement. The full statement is reproduced below:- KEY RATING DRIVERS CitiSL’s rating is the highest on the National Rating scale and reflects the credit […]
New Phone
September 10, 2014 (LBO) – Apple announced iPhone® 6 and iPhone 6 Plus, featuring two new models with 4.7-inch and 5.5-inch Retina HD displays, and packed with innovative technologies in dramatically thin and seamless design, the company said in a statement. Apple Press Info The new iPhones feature a precision unibody enclosure of anodized aluminum […]
Sri Lanka tourist arrivals up 13.8 -pct in August
September 08, 2014 (LBO) – Sri Lanka’s tourist arrivals rose 13.8 percent to 140,319 in August 2014 from a year earlier, driven by China and India, data from the state tourism promotion office showed.Middle Eastern visitors were up 16.0 percent to 18,823 with arrivals from Saudi Arabis down 13.7 percent to 6,653 and UAE down […]
Ratings
September 02, 2014 (LBO) – Fitch Ratings has assigned Sri Lanka-based National Savings Bank’s (NSB; BB-/Stable) proposed issue of US dollar-denominated notes an expected rating of ‘BB-(EXP)’, the rating agency said in a media release.RATING SENSITIVITIES>b/> Any change in Sri Lanka’s rating or to the perception of state support to NSB could result in a […]
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September 02, 2014 (LBO) – Sri Lanka’s John Keells Holdings opened 243 – room , lean luxury ,business hotel Sri Lanka’s capital Colombo yesterday (Sept 01) with an investment about 3.5 billion rupees officials said. As much as Cinnamon Red signifies the creation of a new tier within the Cinnamon Hotels and Resort Brand, it […]
New Appointments
September 02, 2014 (LBO) – Sri Lanka’s Monetary Board has appointed four new assistant governors with effect for 28 August this year to address the emerging challenges of the economy, the bank said in a media release. D Wasantha, C P A Karunathilake, H A Karunaratne and S R Attygalle to the post of Assistant […]