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Sri Lanka holds rates, state guarantee for gold-backed loans: Central Bank
May 20, 2014 (LBO) – Sri Lanka’s Central Bank held policy rates at 6.5 and 8.0 percent with private credit showing positive growth in March, and said a government credit guarantee would be available for gold backed loans.The Central Bank was holding its policy repo rate at which the excess liquidity is withdrawn from the […]
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May 19, 2014 (LBO) – Senior debt of Singer Sri Lanka Plc, a consumer durables maker has been downgraded one level to ‘A-(lka)’ by Fitch Ratings on falling profits and margins. Fitch said following value added tax hikes amid stressed economic conditions margins were declining. Singer however was managing its consumer loans portfolio well, and […]
Sri Lanka gilt dealers invited to trade in listed debt, REPOs in the offing
May 19, 2014 (LBO) – Colombo Stock Exchange has invited Sri Lanka’s primary dealers in government debt and specialists in debt to register at the bourse to trade in listed corporate debt, with a repurchase mechanism on the trading system also planned.CSE chief operating officer Renuke Wijayawardhane said three primary dealers in government securities have […]
Sri Lanka stocks close higher
May 19, 2014 (LBO) – Sri Lanka’s stocks closed 0.06 percent higher Monday with banking and telco stocks gaining amid net foreign buying, brokers said. NDB Capital Holdings closed 29.20 rupees higher at 499.80 rupees and NDB closed 5.60 rupees higher at 198.60 rupees. Distilleries closed 2.90 rupees higher at 208.00 rupees and Ceylon Tobacco […]
Container Depot
May 19, 2014 (LBO) – Logistics International Limited, a unit of Sri Lanka’s Hayleys group said its container depot had been automated and efficiency boosted with new technology that stacks two containers at a time.The firms said the Kalmar DCF100-45E6 from Finland based Cargotec-Kalmar was the first of its kind in Sri Lanka. Janitha Jayanetti, […]
Macksons Properties in serviced apartment complex in Sri Lanka capital
May 19, 2014 (LBO) – Macksons Properties (Pvt) Ltd, will build a 655 million rupee, 100-room serviced apartment complex in Sri Lanka’s capital Colombo, the state investment promotion agency said. Macksons Holdings has interests in consumer goods, automobiles and building materials including Multilac branded paints, the Board of Investment of Sri Lanka which approves and […]
‘s Amaya Leisure profits up 6-pct
May 20, 2014 (LBO) – Profits at Amaya Leisure, controlled by Sri Lanka’s Hayleys Plc, rose 6.2 percent to 135 million rupees in the March 2014 quarter from a year earlier, interim accounts showed.The group reported earnings of 2.81 rupees per share. Amaya Leisure said revenues rose 11 percent to 352 million rupees, cost of […]
Accounting Row
May 19, 2014 (LBO) – A legislator has renewed a call to publish audited accounts of Sri Lanka’s Employees Provident Fund and table them in the parliament amid concerns over the purchase of some fundamentally weak shares at high prices during a stock market bubble.Sri Lanka’s EPF, which represents pension contributions of private sector employees […]
‘s new right-wing govt
NEW DELHI, May 18, 2014 (AFP) – Prime minister-elect Narendra Modi summoned senior figures from his Hindu nationalist party on Sunday for talks on forming a new government that is set to steer India sharply to the right. Top BJP leaders were also meeting in Delhi with the right-wing Rashtriya Swayamsevak Sangh (RSS), the Hindu […]
SriLankan Airlines, Finnair codeshare flights take-off from June 02
May 19, 2014 (LBO) – SriLankan Airlines and Finanair will begin code share flights from June 02, with flights to Frankfurt, Paris, Rome, London, Stockholm, Oslo and Copenhagen from Helsinki. SriLankan Airlines, Head of Commercial Operations Mohamed Fazeel said the partnership will expand the carriers reach to the Scandinavian region and increase tourist arrival to […]
‘s Hathurusinghe to coach Bangladesh cricket
SYDNEY, May 19, 2014 (AFP) – Chandika Hathurusinghe will leave his post as coach of the Sydney Thunder Twenty20 team to take up the head coaching role with Bangladesh, Cricket NSW said on Monday. The 45 year-old Sri Lankan, who took charge of the Thunder last season, has been offered the chance to coach at […]
Cricket: England want more Hales heroics against Sri Lanka
LONDON, May 19, 2014 (AFP) – England will hope history repeats itself when they begin their international programme against Sri Lanka with a lone Twenty20 international at The Oval on Tuesday. One of the few highlights for England during a recent tour programme that saw them surrender the Ashes 5-0 came in March when Alex […]