Category: Industry
Offshore Support
June 28, 2012 (LBO) – Sri Lankan shipbuilder Colombo Dockyard has launched the hull of a new supply vessel it is building for a Singapore customer supplying the growing global offshore oil and gas industry. Greatship Global Offshore Services is a Singapore incorporated subsidiary of Greatship (India) Limited, part of the Great Eastern Shipping group […]
Cost Model
June 27, 2012 (LBO) – Sri Lanka’s state-run Sri Jayawardanapura Hospital, established as a cost-recovery hospital which levies some fees from patients has raised 1. 69 billion rupees in revenues for in 2011, a finance ministry report said. The Treasury has given an 840 million rupee grant for capital expenditure and 231 million rupees for […]
Regulatory Conflict
June 27, 2012 (LBO) – Sri Lanka’s Employment Provident Fund, a central bank managed fund, said it had welcome a detailed statement from Standard & Poor’s which warned of risks facing lenders over the fund buying up bank stock. S & P said it warned of regulatory conflict under a standard rules which give higher […]
Skills Training
June 27, 2012 (LBO) – The International Finance Corporation, is working with Sri Lanka’s Nations Trust Bank to help up to 30,000 small business owners become more competitive through a series of advisory interventions, sharpening their readiness to access new markets. IFC said its advisory assistance has helped the bank to strengthen its institutional capacity […]
Sri Lanka Cricket secures $30 mn bids for premier league: report
June 27, 2012 (LBO) – Sri Lanka Cricket has secured bids in excess of 30 million dollars to host its first Twenty20 premier league, a report said. Seven parties submitted bids for the August 10-31, Sri Lanka Premier League (SLPL) featuring seven provincial teams, each having six foreign players in their squad but with a […]
Credit FAQ
June 26, 2012 (LBO) – Standard and Poor’s, a rating agency has released a document answering potential investor queries following the release of a Banking Industry Country Risk Assessment. The full statement is reproduced below: Understanding Standard & Poor’s BICRA Assessment Of Sri Lanka Standard & Poor’s Ratings Services recently assigned Sri Lanka to its […]
Levies
June 26, 2012 (LBO) – Sri Lanka’s state banks, two insurers and a state airport agency are among the top contributors to the budget by levies and dividends a finance ministry report showed. State-run National Savings Bank paid 4,560 million as levies, the Peoples’ Bank 4,500 million rupees and Bank of Ceylon 4,500 million rupees. […]
Stable Outlook
June 26, 2012 (LBO) – Fitch Ratings Sri Lanka revised Sinhaputhra Finance PLC’s outlook upwards to ˜stable’ from ˜negative’ on improvements in its credit risk management practices. The outlook revision and affirmation reflects¦ subsequent stabilisation and enhancement in its asset quality, although the latter still remains weaker than its peers’ average, the risk evaluator said […]
Safe Zone
June 26, 2012 (LBO) – Sri Lanka’s Sampath Bank PLC secured a A+(lka) for its upcoming 2.5 billion rupees debenture from Fitch Ratings Sri Lanka. The five-year debt paper is expected to be listed on the Colombo Stock Exchange, and will be used to beef up Sampath’s Tier II capital, Fitch said on Tuesday. Full […]
Seven vie to own a Sri Lanka Cricket premier league franchise
June 25, 2012 (LBO) – Sri Lanka Cricket has received seven bids, each worth around 4.3 million dollars, to manage a franchise for the country’s first Twenty20 premier league tournament, officials said. The governing body said 17 parties picked up bidding documents, but only seven bids were submitted when the deadline closed on Monday. I […]
Sri Lanka state budget carrier shows fat margins
June 25, 2012 (LBO) – Sri Lanka’s state-run budget carrier Mihin Lanka, has made profits of 2. 0 billion rupees before tax, on revenues of 4,576 million rupees in the nine months to December 2011 according to a finance ministry report. Mihin Lanka’s long term liabilities fell to 414 million rupees by December from 2,802 […]
Trading Platform
June 25, 2012 (LBO) – Borsa Italiana’s cash markets have migrated to London Stock Exchange group’s Millennium IT trading software which will offer new functions and flexbility. “The migration of Borsa Italiana’s cash markets to the Millennium Exchange represents an important step for Borsa Italiana and its customers,” Raffaele Jerusalmi, chief execytie of Borsa Italiana […]