Category: Industry
” rating: Fitch
Oct 14, 2015 (LBO) – Fitch Ratings Lanka has assigned Sri Lanka’s Bimputh Finance plc with a national long-term rating of ‘BB(lka)’ and a stable outlook. The full statement follows: Fitch Assigns ‘BB(lka)’ Rating to Bimputh Finance; Outlook Stable Fitch Ratings Lanka has assigned Sri Lanka-based Bimputh Finance PLC (Bimputh) a National Long-Term Rating of […]
Capital Alliance Finance to raise Rs116mn through rights issue
Oct 13, 2015 (LBO) – Sri Lanka’s finance firm, Capital Alliance Finance is to raise 116 million rupees by way of a rights issue, the company said in a stock exchange filing.Subject to the necessary approvals, the company is to issue 7.75 million shares at 15 rupees each in the ratio of one for every […]
Sri Lanka to set up national level Trade Union Advisory Committee
Oct 13, 2015 (LBO) – Sri Lanka’s President Maithripala Sirisena has given his consent to appoint a national level Trade Union Advisory Committee under his supervision. The committee will be headed by the secretary to the President and the relevant ministers, President’s Media said. The President has given his consent during a meeting with the […]
Sri Lanka’s real estate a new segment of export economy: developer
Oct 12, 2015 (LBO) – Sri Lanka’s ongoing real estate developments can be used to attract investors to the island as a new segment of our export economy, a developer said. “The scale and quality of some of the on-going building projects in Colombo justify looking at property development as a new segment of our […]
Sri Lanka’s Laugfs acquires 69 pct of Bangladesh LPG plant, eyes Asian markets
Oct 12, 2015 (LBO) – Sri Lanka’s Laugfs Gas plc acquired 1.8 million ordinary shares, or 69 percent of the total issued shares, in Petredec Elpiji Limited, a company incorporated in Bangladesh for a purchase consideration of 18.75 million US dollars. “We see tremendous potential for expanding LPG as a domestic and commercial energy source […]
Sri Lanka – Poland trade balance in favor of SL: forum chief
Oct 12, 2015 (LBO) – High export volumes have contributed to the balance of trade between the two countries in favor of Sri Lanka, chairman of Sri Lanka Poland business forum Samantha Ranatunga said.“This is rare for our country and more the reason why we value doing business with Poland,” he said.Exports from Sri Lanka […]
Sri Lanka vehicle registrations hit another high in Sept: JBS
Oct 11, 2015 (LBO) – Vehicle registrations hit another all-time record on most categories barring 2-wheelers in September. In some categories the growth over the previous month is alarming, JB Securities said in a research note. Total motor car registrations recorded 14,301 units in Sep up from 9,107 units in Aug and a mere 3,539 […]
”’ rating: Fitch
Oct 10, 2015 (LBO) – Sri Lanka’s Sampath Bank’s subordinated debentures has been assigned a National Long-Term Rating of ‘A(lka)(EXP)’, Fitch ratings said in a statement. The full report follows: Fitch Rates Sampath Bank’s Subordinated Debt ‘A(lka)(EXP)’ Fitch Ratings Fitch Ratings has assigned Sampath Bank PLC’s (A+(lka)/Stable) proposed Basel II-compliant subordinated debentures an expected National Long-Term Rating […]
Janashakthi to3.2bn
Oct 09 2015, (LBO) – Sri Lanka’s Janashakthi Insurance said on Friday it was purchasing a 100 percent stake of AIA General Insurance Lanka, a fully owned subsidiary of AIA Insurance Lanka for 3.2 billion rupees. The timeline of completion of the proposed acquisition, once required approvals are secured, is expected to be on or […]
LBR LBO infrastructure summit announced to media
Oct 08, 2015 (LBO) – There is an urgent need to move forward with intelligent urban design and development if Sri Lanka aspires to make Colombo a regional hub.This was the call of the organizers of LBR LBO’s infrastructure summit “Making Colombo a Globally Competitive City,” which will be held on November 3rd and 4th […]
‘s Dialog launches new service to pay mobile pensions
Oct 08, 2015 (LBO) – Sri Lanka’s Pensions Department on Thursday entered into a partnership with Dialog easy cash mobile money service to deliver pensions directly in to the pensioners hand through mobile devices.This innovative service for pensioners will ease the waiting queues at post offices or banks to get the funds. After registering with […]
Sri Lanka to call bids for urban rail project soon-Updated
Oct 08, 2015 (LBO) – Sri Lanka will be calling for international competitive bids for its first urban railway project, Upul Jayasuriya, chairman of Sri Lanka’s Board of Investment told foreign media.Japanese foreign media reports quoted the BOI chief saying that the Sri Lankan government is considering introducing either monorails or subways, as traffic congestion […]