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Krrish given three months to pay for Sri Lanka land
May 13, 2014 (LBO) – India’s Krrish which has been given city centre land in Sri Lanka’s capital Colombo is expected to settle its balance payments in three months, an Urban Development Authority official said.Perera said Krrish had recently signed an agreement with a construction contractor, which had been shown to them, they he was […]
‘s TATA Housing starts US$400mn Sri Lanka property project
May 13, 2014 (LBO) – India’s TATA Housing has started a 400 million US dollar mixed development in Colombo with state-run Urban Development Authority, as part of a regeneration effort, officials said.In the first stage which started Monday the firm will build a four-tower apartment block with 650 units which will house 582 families and […]
Sri Lanka Treasuries yields flat
May 12, 2014 (LBO) – Sri Lanka Treasuries yields were steady at Wednesday’s auction, with just the 3-month yield down 01 basis point to 6.57 percent, data from the state debt office showed. The debt office offered 12 billion rupees in maturing debt and sold 16.2 billion rupees worth bills. The 6-month yield was flat […]
Kotagala Plantations in Sri Lanka, to sell billion rupees of debt
May 12, 2014 (LBO) – Sri Lanka’s Kotagala Plantations, has been given the nod to sell up to a billion rupees in debt, the Colombo Stock Exchange said.The investment banking unit of People’s Bank will manage the sale.The firm will offer 5 million secured rated debt securities of 100 rupees each and another 5 million […]
Sri Lanka stocks close up 0.3-pct
May 12, 2014 (LBO) – Sri Lanka’s stocks closed higher for the fourth consecutive day with diversified and hotel stocks gaining, brokers said. Dialog Axiata closed 10 cents higher at 9.50 rupees and Sri Lanka Telecom closed 40 cents higher at 47.50 rupees. Trans Asia Hotels closed 5.10 rupees higher at 94.90 rupees and John […]
Margin Growth
May 12, 2014 (LBO) – Sri Lanka’s Commercial Bank of Ceylon said profits rose 2 percent in the March 2014 quarter to 2,301 million rupees from a year earlier, with helped by higher net interest income and trading gains.The group reported earnings of 2.71 rupees per share, in interim accounts filed with the Colombo Stock […]
Asset Retreat
May 12, 2014 (LBO) – Profits at Sri Lanka’s Sampath Bank rose 21 percent from a year earlier to 1,2 billion rupees in the March 2014 quarter helped by loan loss reversal and other income while net interest income fell. The group reported earnings of 7.50 rupees per share for the quarter. Group interest income […]
Graphic Warning
May 12, 2014 (LBO) – Sri Lanka’s Court of Appeal has approved graphic pictorial warnings on tobacco packs after Ceylon Tobacco Company challenged new health ministry rules.Sri Lanka’s Daily Mirror newspaper said in its website that the Court of Appeal had dismissed a write application by CTC and allowed graphic health warnings covering 50 to […]
Smart Trend
SINGAPORE, May 11, 2014 (AFP) – Xiaomi may be little known outside China, but the fast-growing smartphone maker is at the forefront of a new wave of Asian brands challenging the dominance of Apple and Samsung with high-spec, low-price phones.“As smartphones become more commonplace… consumers in emerging markets will become more demanding and willing and […]
Modi seeks crowning victory in India election climax
VARANASI, May 12, 2014 (AFP) – Voters headed to the polls Monday in the climax of India’s marathon election, with frontrunner Narendra Modi seeking a crowning victory in the holy city of Varanasi for his right-wing Bharatiya Janata Party.“People are tired of false promises, corruption and the same old tape-recorded messages,” Modi said in a […]
Debt Raising
May 11, 2014 (LBO) – Sri Lanka’s Waterfront Properties (Pvt) Ltd, a unit of John Keells Holdings that is building an integrated resort has started raising foreign debt with Standard Chartered being appointed advisor. Standard Chartered Bank had given the first 100 million US dollars, as bridging finance for the first phase of the project, […]
Sri Lanka claims biggest post-war Tiger ammo find
COLOMBO, May 10, 2014 (AFP) – Sri Lanka’s military said Saturday it had unearthed the biggest cache of pistol ammunition buried in the former war zone amid government claims that Tiger rebels are trying regroup.Naval troops found the buried ammunition Friday in the coastal area of Mullaittivu where the separatist Liberation Tigers of Tamil Eelam […]