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SriLankan expects US$25mn topline from airline alliance
Apr 09, 2014 (LBO) – State-run SriLankan Airlines said joining oneworld, a global alliance of airlines is expected bring it 25 million US dollars a year in incremental annual revenues and allow customers easy travel to the Americas. American Airlines and, its merger partner US Airways, from North America: LAN TAM from South America as […]
Cricket: Sri Lanka board hits back at Jayawardene, Sangakkara
COLOMBO, April 9, 2014 (AFP) – Sri Lanka’s cricket board and two senior players were locked in a war of words Wednesday, a day after the World Cup-winning Twenty20 team returned home as national heroes.“SLC regrets such unsubstantiated accusations levelled against the secretary and CEO by a senior member of the national team without verifying […]
”’ transferred to budget
Apr 09, 2014 (LBO) – Sri Lanka’s central bank lost 24.2 billion rupees in 2013, down from profits of 66.2 billion rupees, but the bank had transferred 25 billion rupees in profits to the state budget, its annual accounts showed.Other than interest income from its forex assets, a central bank primarily makes profits from inflation, […]
‘s interest rates “appropriate” to current conditions: CB Governor
Apr 09, 2014 (LBO) – Sri Lanka’s interest rates “appropriate” to current conditions where returns particularly on deposits of senior citizens have fallen sharply, Central Bank Governor Nivard Cabraal said.Sri Lanka’s inflation has fallen to around 4 percent in the past quarter and one year deposit rates in commercial banks are around 6 to 7 […]
HSBC in seven Sri Lanka sovereign bond sales in a row
Apr 08, 2014 (LBO) – HSBC said it had helped lead manage all seven sovereign bond sales for Sri Lanka since 2007 following the latest sale Monday of 500 million US dollar 5-year bond for 5.125 percent. Public debt is managed for the Treasury by the Central Bank of Sri Lanka (CBSL). “We feel it’s […]
Sri Lanka 5-year yield a new benchmark: Standard Chartered
Mar 08, 2014 (LBO) – Sri Lanka’s 5-year bond at 5.125 percent set a new benchmark and showed investor appetite for the country’s credit, Standard Chartered Bank, a joint lead arranger to the sale said. Yields on emerging market bond spiked in the second half of 2013 amid uncertainty over a decision by the US […]
‘s Hemas Holdings billion rupees debt offer to open April 23
April 08, 2014 (LBO) – A billion rupee listed debt offer by Sri Lanka’s Hemas Holdings will open on April 23, the Colombo Stock Exchange said. Hemas will offer 5 million 100 rupee debentures and another 5 million debentures if the first tranche is oversubscribed. Fitch has rated the debt ‘A+(lka)’.
Sri Lanka sells US$500mn bonds at 5.125-pct; oversubscribed 8.3 times
Apr 08, 2014 (LBO) – Sri Lanka has sold a 500 million dollar 5-year bond to yield 5.125 percent a year, lower than a 6.0 percent paid in January, with the offer oversubscribed 8.3 times. Fund managers took 81 percent of, banks 13 percent, private banks 3 percent and insurers 3 percent. Sri Lankan bonds […]
Sri Lanka shares close up 0.4-pct
Apr 08, 2014 (LBO) – Sri Lanka’s shares close up 0.39 percent higher with diversified John Keells Holdings gaining amid favorable bond market conditions, brokers said. Asian Hotels and Properties closed 2.00 rupees higher at 65.00 rupees and HNB closed 2.80 rupees lower at 150.20 rupees. Carson Cumberbatch closed 4.00 rupees lower at 361.00 rupees […]
Cruise Call
Apr 08, 2014 (LBO) – Luxury liner MS Amadea made its maiden call at Sri Lanka’s Hambantota port with 479 passengers and visited tourist hotspots in Southern Sri Lanka, the state ports agency said.Sri Lanka Ports Authority said the 423 of the passengers were German nationals and they had day excursions to Kataragama and Udawalawe […]
‘s Citrus Leisure opens second resort; eyes two more
Apr 08, 2014 (LBO) – Citrus Leisure Plc, which opened a 150-room resort in Waskaduwa, on Sri Lanka’s South Western coast is planning another two resorts on the Western and Southern coasts, officials said. The hotel has 250 employees and says in-house training will help keep service levels high as demand for tourism sector workers […]
‘s would-be PM Modi
NEW DELHI, April 8, 2014 (AFP) – For a politician running on a platform of clean government, having a key aide facing murder and extortion charges could be seen as a liability — but not by the man tipped to be India’s next prime minister.Narendra Modi, the hardline Hindu nationalist leading the opposition Bharatiya Janata […]