Category: Industry
Sri Lanka hotel makes US$35mn cake
Mar 28, 2012 (LBO) – Sri Lanka Heritance Ahungalle, a hotel in the island’s Aitken Spence leisure group said it has made a 35 million dollar sapphire studded cake, in a bid to make the world’s most expensive one. “Created by their celebrity Chef Dimuthu Kumarasinghe, the ten-layered ‘Pirate’s Fantasy’ comes studded with jewels and […]
Knowledge Base
Mar 28, 2012 (LBO) – International Finance Corporation, an arm of the World Bank said it is training Sri Lankan bankers in trade finance to help provide better services to customers to interact with the global markets. During the training program, participants were taught how to structure basic and complex trade finance transactions, improving risk […]
Sri Lanka energy, transportation projects draw US firms
Mar 28, 2012 (LBO) – The United States is keen to expand trade and investment in Sri Lanka, a senior official said at talks on a proposed bilateral Trade and Investment Framework Agreement between the two countries. Her remarks came in the wake of a US-sponsored resolution adopted by the United Nation Human Rights Council […]
Sri Lanka Expo foreign presence sign of confidence: president
Mar 28, 2012 (LBO) – The presence of a large delegation of foreign visitors at Sri lanka’s Expo2012 international trade fair and exhibition is an expression of confidence placed in the country, President Mahinda Rajapaksa said. The fair is meant to show the world the new prospects for investment and trade in Sri Lanka after […]
” deal
Mar 28, 2012 (LBO) – Sri Lanka’s Commercial Bank has struck a deal with Ceylinco Insurance to offer the latter’s general and life insurance products through the bank’s islandwide network of branches. “The agreement strengthens Commercial Bank’s commitment to offer a wide choice in ‘Bancassurance’ to existing and potential customers, through partnerships with the country’s […]
Sri Lanka NDB mulls renewable energy project funding
Mar 26, 2012 (LBO) – National Development Bank said it is considering funding projects to generate energy from bio-mass, waste and solar having given loans to support hydro and wind power plants. They were among several key sectors identified by NDB’s project finance division for lending to support economic growth in post-war Sri Lanka, a […]
American Indulgence
Mar 25, 2012 (LBO) – A concession granted by the United States to Sri Lanka on its sanctions on Iran means the island would not face an immediate total ban on importing crude from the Persian Gulf country, a report said. United States has asked Sri Lanka to scale down crude oil imports from Iran […]
Sri Lanka Mackwoods Energy share issue oversubscribed
Mar 23, 2012 (LBO) – The Initial Public Offering of Sri Lanka’s Mackwoods Energy Limited was oversubscribed on the opening day Thursday, registrars to the issue S S P Corporate Services said in a stock exchange filing. “The funds are expected to be used to finance the working capital requirements and part finance the company’s […]
Business Degree
Mar 23, 2012 (LBO) – Sri Lanka is to set up a school of business management with degree awarding status under the state-run National Institute of Business Management. “The National School of Business Management has been incorporated to conduct Degree Courses under the supervision of the National Institute of Business Management. ” The school will […]
Finance Rating
Mar 23, 2012 (LBO) – RAM Ratings Lanka has confirmed Bartleet Finance Limited’s long- and short-term financial institution ratings at BBB- and P3 but revised the outlook to negative from stable, a statement said. At the same time, the long-term issue rating of BFL’s 204 million rupee unsubordinated unsecured redeemable debenture has also been confirmed […]
Timely Payment
Mar 23, 2012 (LBO) – Fitch Ratings Lanka has given People’s Leasing Company’s proposed commercial paper issue of up to a billion rupees an ‘F1(lka)’ National Short-term rating. PLC itself is rated ‘A+(lka)’ with a stable outlook, a statement said. “The proposed issuance will be utilised to finance PLC’s working capital / lending.” Of the […]
Wheels Trend
Mar 23, 2012 (LBO) – Sri Lanka’s car imports have begun to taper off after surging following tax cuts with sales of Malaysia’s Perodua rising rapidly in a market where Japanese and Indian brands hold sway. In brand new car imports, India’s Maruti/ Suzuki remained the most popular by far with registrations rising from 97 […]