Category:
Dollar Finance
Aug 09, 2013 (LBO) – Sri Lanka’s Dialog Axiata, the country’s largest mobile operator said it had raised 200 million US dollars from a syndicated loan.The 5-year loan had been arranged by OCBC Bank Malaysia Berhard and Standard Chartered Bank, Dialog said in a statement. The fund will be used for capital expenditure, working capital […]
Dumped Queen Victoria to get new life before Sri Lanka summit
COLOMBO, August 8, 2013 (AFP) – A statue of Queen Victoria which was banished from Sri Lanka’s presidential palace amid fears it brought bad luck will now be spruced up for an upcoming Commonwealth summit.The 1897 statue of the former British monarch seated on a throne had been banished from the palace a few years […]
” forex reserves
Aug 09, 2013 (LBO) – Sri Lanka probably has ‘mamma’ bear forex reserves an International Monetary Fund official said responding to the official position that the country had ‘goldilocks’ reserves that were just right. The Central Bank also has to repay the IMF about another 250 million US dollars in the second half of 2013, […]
Sri Lanka Fonterra says milk powder safe, but recalling some product
Aug 09, 2013 (LBO) – Sri Lanka’s Fonterra unit said it was recalling some product from the market on a health ministry directive but the chemical alleged to be in milk powder was not toxic and its use had been stopped last year. Fonterra Lanka chief Leon Clement said two batches of Anchor and Anchor […]
” rating confirmed by RAM
Aug 08, 2013 (LBO) – An ‘AA’ rating of Sri Lanka’s Sampath Bank has been confirmed by RAM Rating Lanka with a stable outlook.“The ratings are supported by the Bank’s healthy asset quality and good market position,” the rating agency said. “On the other hand, the ratings are temperedby the Bank’s average capitalisation.” RAM said […]
Sri Lanka stocks close flat
Aug 08, 2013 (LBO) – Sri Lanka’s stocks closed flat Thursday with losses in in the large cap stocks and some banking stocks, brokers said. Ceylon Tobacco Company closed at 1,201.00 up 0.70 rupees and Distilleries Sri Lanka closed at 194.90 up 2.40 rupees. The benchmark Colombo All Share Index closed 0.13 points higher at […]
Bank Award
Aug 08, 2013 (LBO) – HSBC said it had been named the best internet bank by Gobal Finance, a magazine for the eight year running. HSBC’s Internet banking platform has created a simpler, quicker and more convenient method for banking. James Rebert, head of cards, products and service, HSBC said in a statement. We are […]
Sri Lanka Crown project to be built on same place: minister
Aug 08, 2013 (LBO) – A large casino resort by Australia’s Crown group will be built on the original location and they have only been informed to design two towers to maintain a view of a nearby lake, a minister said.Investment promotion minister Lakshman Yapa Abeywardene said the project, which borders Colombo’s Beira Lake should […]
SriLankan to break even over four years with new fleet
Aug 08, 2013 (LBO) – State-run carrier SriLankan airlines group is planning to break even in the year to March 2017, after running about 335 million US dollars of losses in the intervening years, an official said. Sri Lankan is buying 13 new aircraft from Airbus which will be more fuel efficient saving costs and […]
Cardinal slams Sri Lanka army for attack inside church
COLOMBO, August 7, 2013 (AFP) – The Roman Catholic church Wednesday slammed Sri Lanka’s army for storming a church and assaulting residents trying to escape soldiers firing on villagers protesting against contaminated water.The shootings came ahead of a visit to the island by United Nations rights chief Navi Pillay later this month. Pillay is due […]
Sri Lanka halts sale of baby formula, foreign milk power advertising
Aug 07, 2013 (LBO) – Sri Lanka has halted the sale of imported baby formula following a contamination scare over New Zealand made dairy products and media organizations will be asked to stop advertising milk products, a senior health official said.Heath services director general Palitha Mahipala said a food advisory committee that met yesterday had […]
Sri Lanka sells 4-year bonds to yield below market
Aug 06, 2013 (LBO) – Sri Lanka has sold 4-year Treasury bonds at an auction Wednesday to yield 10.87 percent, the state debt office said, which is lower than the secondary market rate. The debt office said it sold 1.6 billion rupees of bonds maturing on January 15, 2017. In the secondary market a bond […]