Category:
Borrowing Strategy
May 22, 2014 (LBO) – Sri Lankan firms and banks should look at borrowing and lending longer term as interest rates and inflation fall, Central Bank Governor Nivard Cabraal said.Analysts say Sri Lanka’s banks and their customers borrow short term as excessive state intervention in the economy, especially in energy prices lead to sudden surges […]
Finance Rating
May 22, 2014 (LBO) – Fitch has confirmed a ‘A+(lka)’ rating of Sri Lanka’s Melsta Regal Finance based on expected support from its parent, ‘AAA(lka)’ rated Distilleries Company of Sri Lanka. MRF has expanded quickly since it started commercial operations in October 2012 as part of DIST group and Fitch expects that it will continue […]
Lending Plan
May 22, 2014 (LBO) – Fitch Ratings which confirmed an ‘AA-(lka)’ rating of Hatton National Bank, Sri Lanka’s fourth largest commercial lender by assets said the it had boosted loans to larger firms.“HNB’s loan book is shifting towards larger, mid-sized corporates from its previous focus on retail and SME sectors, which, while adding to diversification, […]
Teenager test case in Maldives death penalty revival
MALÉ, May 22, 2014 (AFP) – A 16-year-old boy has been charged with murder over a fatal stabbing in the Maldives, becoming the first minor to be accused of a capital offence since the death penalty was reintroduced, officials said.The unnamed teenager is accused of stabbing a 21-year-old man to death in December in a […]
LBR LBO Brand Summit 2014 – “Rethinking the Rules of Brand Building” – Wednesday, 21st May 2014
Topic: Rethinking the Rules of Brand Building Date/Time: Wednesday, 21st May 2014 | 0845 – 1750 HRS Venue: Oak Room, Cinnamon Grand Host: Lakshaman Bandaranayake | Founding Publisher, Director | Lanka Business Online Inquiries: Lakshaman Bandaranayake | lakshaman@lbo.lk | 071 176 0167 or 072 776 0167 General | summit@lbo.lk Registration fee: Rs 12,900/= per participant, 5% […]
Sri Lanka Treasuries yields flat
May 21, 2014 (LBO) – Sri Lanka’s Treasuries yields were flat at Wednesday’s auction with the 12-month yield unchanged at 7.02 percent, data from the state debt office showed.The 3-month yield was unchanged at 6.57 percent. The 6-month yield eased 01 basis point to 6.75 percent. The state debt office offered 11 billion rupees of […]
Brand Summit
May 21, 2014 (LBO) – Sri Lanka’s LBR-LBO Brand Summit kicked off Wednesday with international and regional experts and practitioners from top corporates in the island participating. The speakers represent a wide range of industries: financial services, hospitality,FMCG, communication, research, consumer durables, technology and export manufacturing, and are from leading local companies and multinationals. These […]
Corrupt Watchdogs
KATHMANDU, May 21, 2014 (AFP) – South Asia’s corruption-fighting agencies lack the power and independence to properly investigate politicians and officials for graft entrenched in the region, a watchdog said Wednesday.A report released by Berlin-based Transparency International said many agencies need their government’s consent to investigate suspected graft cases, while others face massive political interference […]
Leaving
May 20, 2014 (LBO) – Tony Weeresinghe, founder of Sri Lanka based MillenniumIT, is to leave the London Stock Exchange group, a media report said. Bloomberg newswires said Weeresinghe planned to leave at the end of June. The report quoted LSE Chief Executive Xavier Rolet as saying in a note to staff that he was […]
Sri Lanka textile maker says European orders strong, US buyers cautious
May 21, 2014 (LBO) – Demand from US retailers have softened in recent months but European demand was still strong, Textured Jersey, a Sri Lanka based textile maker said. Revenues grew 7 percent to 3.2 billion rupees, costs grew 6.2 percent to 2.8 billion rupees and the firm grew gross profits 13.9 percent to 402 […]
Cricket: Perera sets up Sri Lanka win over England
LONDON, May 20, 2014 (AFP) – Thisara Perera starred with both bat and ball as Sri Lanka gained revenge for their World Twenty20 defeat by England with a nine-run win at The Oval on Tuesday. Man-of-the-match Perera made a rapid 49 in World Twenty20 champions Sri Lanka’s 183 for seven and then captured the important […]
‘s third coal plant to start test runs
May 21, 2014 (LBO) – Sri Lanka’s third 300 MegaWatt coal plant is to begin testing in two months and the second plant has just been handed over to state-run Ceylon Electricity Board by its Chinese contractor after initial test runs.The third plant is expected to begin its reliability test runs from June adding another […]