Category:
” : Fitch Ratings
Mar 27, 2015 (LBO) – Sri Lanka Fitch Rating has rated Sri Lankan based AMW Capital Leasing and Finance PLC’s (AMCL), national long term rating to ‘BBB+lka)’ from ‘BB-(lka)’ with a stable outlook the rating agency said in a statement. The multiple-notch upgrade follows Fitch’s assessment of support from its 90 percent-parent, Associated Motorways Limited […]
‘s micro-finance sector to access CRIB through a new regulation
Mar 27, 2015 (LBO) – Sri Lanka’s micro-finance industry is looking at developing a separate credit information database for their clientele with the help of the Credit Information Bureau (CRIB) of Sri Lanka. Yasitha Munasinghe, manager, Lanka Micro-finance Practitioners association (LMFPA) told LBO that the proposed micro-finance act will provide the necessary legality to be […]
Sri Lanka to get Chinese funded hospital for kidney patients; China to support SL on alleged human rights issues
Mar 27, 2015 (LBO) – Sri Lanka will get aid from the Government of China to build a hospital with all the modern facilities to cater to patients with kidney diseases, president Sirisena’s office said in a media release.The Chinese President Xi Jinping has agreed to provide assistance to build the hospital at the request […]
Sri Lanka sells $100mn of 5 year development bonds; rejects all bids at 2 and 3 years
Mar 27, 2015 (LBO) – The issue of Sri Lanka development bonds amounting to 75 million US dollars have been oversubscribed with 100 million US dollars of bids received from investors.The central bank has accepted 100 million US dollars of five year bonds at a rate of 6 month US dollars LIBOR plus a weighted […]
Sri Lanka to connect Colombo Tea auction’s brokers and buyers through a mobile platform with live feeds
Mar 26, 2015 (LBO) – Sri Lanka to connect tea brokers and buyers, providing a mobile based live feed that delivers real-time information directly to tea buyers, by pushing sale information that is captured by tea brokers at each auction room, a media release said. The newly launched “mAuction”, a mobile solution for the Colombo […]
Sri Lanka shares down 0.7-pct
Mar 26, 2015 (LBO) – Sri Lanka’s shares were down Thursday for the fourth consecutive day with the benchmark index not recovering following yesterday’s dip below the 7,000 mark, brokers said. The Colombo benchmark All Share Price Index closed 50.20 points lower at 6,922.83, down 0.72 percent. The S&P SL20 closed 30.49 points lower at […]
Sri Lanka’s government urge private sector wage increase: Plans not to legislate
Mar 26, 2015 (LBO) – Sri Lanka’s new rulers urged the private sector to come up with a solution to increase wages and says the government would not like to force it to be legislated, Deputy Minister of Finance and Planning Harsha De Silva said.“We are in a really dilemma right now having delivered 100 […]
Sri Lanka’s Abans use new digital marketing application to promote LG smart phone
Mar 26, 2015 (LBO) – Sri Lanka’s Abans Limited, which has interests in consumer durables said they will market their LG smart phone using mobiOs MMM platform.Issuing a statement the company said, while traditional marketing is outside the store targeting consumers to build brand awareness, digital marketing allows marketers to deliver personalized content to shoppers […]
Sri Lanka sells Rs39.3bn in 4 and 8 year bonds
Mar 26, 2015 (LBO) – Sri Lanka has sold 39.3 billion rupees of four and eight year bonds after calling bids for 30 billion rupees of bonds, the state debt office said.The debt office sold 19.24 billion rupees of four year bonds maturing on 15 September 2019 at weighted average yield of 8.92 percent. A […]
Sri Lanka’s Softlogic Finance rights oversubscription caters to private sector credit demand
Mar 26, 2015 (LBO)-Sri Lanka’s Softlogic Finance PLC’s said its rights issue which was over-subscribed by over 150 per cent with the new equity infusion of 401 million rupees, came at an opportune time with demand for credit by the private sector showing notable increases on the back of reduction of interest rates to multi-year […]
Sri Lanka gets US$400mn currency swap from Reserve Bank of India
Mar 26, 2015 (LBO) – Sri Lanka’s Central Bank yesterday signed a 400 million US dollar currency swap agreement with the Reserve Bank of India (RBI), where it would allow the Central Bank to draw funds in US dollar or Euro in multiple tranches, the RBI said in a media release. The agreement is valid […]
Sri Lanka venture engine call for fresh business proposals
Mar 26, 2015 (LBO) – Sri Lankan venture engine angel investor group in partnership Blue Ocean Ventures and the Indian Angel Network (IAN) called for fresh business proposals from start-ups who are looking for funding and mentoring support, a statement said.The company said, 15 new companies have been funded by the programme to the value […]