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‘s MCSL to sell Rs500mn subordinated debt
Nov 29, 2013 (LBO) – Sri Lanka’s MCSL Financial Services is planning a 500 million rupee subordinated debt issue, which has been rated ‘BBB-(lka)’ Fitch ratings said. MFSL’s National Long-Term Rating could be revised in the event of a change in the willingness and/or ability of BOC to support the company. This would include any […]
Price Trend
Nov 29, 2013 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 5.6 percent in the 12-months to December from a year earlier, slowing from 6.7 percent a month earlier, with the index climbing 0.2 percent during the month. Under Sri Lanka’s so-called flexible exchange rate, where the Central Bank buys all capital inflows […]
Overdraft
Nov 29, 2013 (LBO) – Sri Lanka’s finance ministry had run an overdraft of 120.9 billion rupees at banks by September 2013 which was about 1.2 percent of gross domestic product, official data showed. Though the gap was higher than the 98.1 billion rupees deficit in September 2012 it was lower than 144.5 billion rupee […]
FastPay
Nov 29, 2013 (LBO) – LankaClear, Sri Lanka’s interbank clearing house, said a new backbone is being developed to integrate multiple networks, which will speed up transactions and allow mobile-enabled payments.The firm recently launched LankaPay a switch that connected automated teller machines of different banks. “LankaPay CAS is a precursor to the launch of the […]
Disability Network
Nov 29, 2013 (LBO) – Members of Sri Lanka’s Employers Federation of Ceylon, an association of large businesses has expanded a welcome to disabled in the island’s former war zones.Disabled already working in participating companies had also related their experiences at the workshops. EFC and member firms had held workshops in Sri Lanka’s north and […]
Lube Control
Nov 28, 2013 (LBO) – Sri Lanka’s Colombo Dockyard, a ship repair and building firm, found its competitiveness hurt by import restrictions on specialist lubricants.Sri Lanka requires a ‘no objection’ letter from the government to import lubricants as it is a licensed business on which the state has placed import restrictions. A Dockyard official told […]
Sri Lanka begins war tally after international pressure
COLOMBO, November 27, 2013 (AFP) – Sri Lanka was to begin compiling a death toll from its ethnic conflict Thursday as it seeks to fend off growing pressure over allegations of mass killings at the end of the war.While Jaffna held its first provincial elections since the war in September, with the main Tamil party […]
Sri Lanka foreign lenders led by China, export credits up
Nov 28, 2013 (LBO) – Sri Lanka has 1.9 billion US dollars of new bilateral and multilateral commitments up to September 2013 led by China with export credit from other countries also showing increases, a finance ministry report showed. The Exim Bank of China has given 283 million US dollars for railway track, 155.4 million […]
‘s Treasuries yields ease
Nov 27, 2013 (LBO) – Sri Lanka’s Treasuries yields fell across maturities at Wednesday’s auction with the 12-month yield falling 06 basis points to 9.69 percent. The 3-month yield fell 04 basis points to 8.06 percent and the 6-month yield fell 05 basis points to 8.80 percent. The debt office offered 11.0 billion rupees of […]
Sri Lanka stocks close lower
Nov 27, 2013 (LBO) – Sri Lanka stocks fell for the fourth straight day with diversified stocks losing ground amid foreign selling, brokers said. HNB closed flat at 144.00 rupees and Lanka Orix Leasing Company closed 1.10 rupees higher at 64.20 rupees. Aitken Spence closed 10 cents lower at 108.00 rupees and Aitken Spence Hotel […]
Channel Expansion
Nov 27, 2013 (LBO) – Sri Lanka’s E-channelling, which runs a service offering online appointments with medical doctors, said it plans to operate similar services in East Asia, collaborating with its main shareholder.This includes Malaysia, Singapore, Indonesia, Phillippines, Taiwan, Korea, China, Vietnam and Thailand. E-channelling said ECL Soft Pvt Ltd, a subsidiary has struck a […]
US administration fights new Iran sanctions by parliament
WASHINGTON, November 26, 2013 (AFP) – The US administration stepped up its battle Tuesday to thwart moves by lawmakers to tighten sanctions on Iran, warning that would jeopardize tough negotiations on Tehran’s nuclear program.It’s not “an all-at-one-time or .. a spigot that’s turned all the way on. It would be a slow process that obviously […]