Category:
Bank Trend
July 03, 2014 (LBO) – Sri Lanka’s bank credit is estimated to grow 14 percent in 2014 and outlook for the sector is ‘stable’ with bad loans to also stabilize this year, Moody’s, a rating agency said.“¦[A] pipeline of infrastructure projects is expected to boost economic growth, together with an accommodative monetary policy,” Srikanth Vadlamani, […]
Sri Lanka tourist arrivals up 14-pct in June
July 03, 2014 (LBO) – Sri Lanka’s tourist arrivals rose 14.3 percent to 103,195 in June 2014 from a year earlier, driven by China and India, data from the state tourism promotion office showed.In the first half of 2014 arrivals were up 24.6 percent to 727,353. South Asian visitors were up 13.3 percent to 30,950 […]
Bombay Stock Exchange shut after network outage
MUMBAI, July 3, 2014 (AFP) – The Bombay Stock Exchange, India’s second-biggest financial market, shut down during morning trade Thursday owing to computer network problems, a spokesman said. “Due to a network outage being currently faced, BSE has decided to close all markets,” spokesman Yatin Padia said in a message to AFP, after trading stopped […]
Sri Lanka police questions Bhuddist monk over anti-Muslim riots
COLOMBO, July 2, 2014 (AFP) – Sri Lankan police called in a militant Buddhist monk for questioning Wednesday after he was accused of instigating deadly anti-Muslim riots that heightened religious tensions in the ethnically divided nation.Galagodaatte Gnanasara was summoned to the Criminal Investigations Department over a speech he made two weeks ago in the resort […]
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July 02, 2014 (LBO) – Fitch Ratings said it had given an ‘A-(lka)’ expected rating to a planned Singer (Sri Lanka) debenture issue of up to 1.5 billion rupees. The senior unsecured debentures are rated the same as Singer (Sri Lanka) Plc. Fitch said the 3-year fixed rate debenture proceeds will be used to refinance […]
Sri Lanka Treasuries yields steady
July 02, 2014 (LBO) – Sri Lanka’s Treasuries yields were marginally down at Wednesday’s auction though the debt office did not accept market bids to roll over all the offered volume, data showed.The 3-month yield fell 01 basis point to 6.50 percent, the 6-month yield fell 01 basis point to 6.68 percent and the 12-month […]
Sri Lanka stocks close up 0.9-pct
July 02, 2014 (LBO) – Sri Lanka’s shares closed 0.89 percent higher on Wednesday amid strong foreign buying into Hemas Holdings, brokers said. The Colombo benchmark All Share Price Index closed 56.51 points higher at 6,432.52, up 0.89 percent. The S&P SL20 closed 34.38 points higher at 3,577.94, up 0.97 percent. Turnover was 2.43 billion […]
Japan leads loan commitments to Sri Lanka up to April 2014
July 02, 2014 (LBO) – Sri Lanka has signed up 678.2 million US dollars in foreign loans in the first four months of 2014 and Japan led the tables giving 342.8 million US dollars for a new bridge to the capital, official data showed. Outstanding foreign debt not counting rupee denominated Treasuries owned by foreigner […]
Sri Lanka budget deficit 3.5-pct of GDP up to April
July 02, 2014 (LBO) – Sri Lanka’s has recorded a budget deficit of 3.5 percent of gross domestic product up to April 2014, and the Treasury said it was expecting to meet a full-year target of 5.2 percent. Tax on interest fell 20 percent as interest rates fell in the economy. The tax revenues were […]
Sri Lanka shares close lower
July 01, 2014 (LBO) – Sri Lanka’s shares closed 0.04 percent lower on Tuesday boosting turnover to an eight-week high amid strong foreign buying mainly into John Keells Holdings, brokers said. Foreign investors sold 1.01 billion rupees worth shares. Ceylon Tobacco Company closed 10.60 rupees lower at 1,053.30 rupees and oil palm firm Shalimar (Malay) […]
Acquisition
July 01, 2014 (LBO) – Sri Lanka’s TKS Finance Limited said it was acquiring Asian Finance Limited under a financial sector consolidation initiated by the regulator.The company said its shareholder planned to inject more capital to the merged entity. It would have a branches in Colombo, Ratnapura, Matara, Negombo, Nugegoda, Kandy, Kiribathgoda, Kurunegala, Galle, Ambalangoda […]
Merger Plans
July 01, 2014 (LBO) – Sri Lanka’s central bank said ‘almost all’ banks and finance companies have submitted plans to merge or acquire others in a regulatory driven push to consolidate and reduce the number of financial institutions in the country.“These plans will now be reviewed by the Central Bank with a view to facilitating […]