Category:
Credit Trend
Feb 26, 2012 (LBO) – Loans from commercial banks to private borrowers fell to 9.9 billion rupees in December 2012 from 24.1 billion rupees a month earlier while credit to the state soared by 76.1 billion rupees, official data shows. In February the government raised 153 million dollars from a floating rate dollar bond sold […]
Yum Yum
Feb 26, 2013 (LBO) – Sri Lanka’s Renuka Shaw Wallace Plc, a consumer goods firm said it had bought a snack brand for 36 million rupees from Hemas group.The firm said it had bought the brand names and stock of Mr Pop, Chatters, Taze, Yummee, Rockers and Pik Nik brands from Hemas Manufacturing (Pvt) Ltd, […]
Sri Lanka AIA unit plans to go private, offer to minority shareholders
Feb 26, 2013 (LBO) – AIA Insurance said it is making an offer to buy out all minority shareholders of its Sri Lanka unit, ahead of plans to go private and made cash calls to boost capital.AIA said it was the operation model of the group to hold operating units as wholly owned units and […]
Sri Lanka should watch debt, contingent, liabilities: IMF
Feb 26, 2013 (LBO) – Sri Lanka should be careful about mounting external liabilities and reserve adequacy, with national debt already on the “high side” at over 80 percent of gross domestic product, the International Monetary Fund has said.Sri Lanka’s official debt to GDP ratio is expected to climb slightly to 81 percent in 2012 […]
Capital Costs
Feb 24, 2013 (LBO) – An upgrade to Sri Lanka’s 50,000 barrels refinery a day involving doubling of is capacity and boosting light distillate yields could cost up to 1.5 billion US dollars, officials said. Petroleum minister Anura Yapa told reporters Saturday that feasibility and front-end-engineering-design (FEED) has already been completed for the project. Sri […]
Fuel Hike
Feb 23, 2012 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation has raised petrol by 3.0 rupees to 162 rupees a liter and auto diesel by 6.0 rupees 121.0 a litre, with super diesel being raised by 3.0 rupees to 145.0 reports said. Sri Lanka’s power regulator, the Public Utilities Commission of Sri Lanka has […]
Share Limits
Feb 22, 2013 (LBO) – Sri Lanka’s central bank will look at “the need for raising” shareholder ceilings imposed on banks, a media report said, quoting Central Bank Governor Nivard Cabraal.Several state entities have also bought stock in private banks, exceeding the limit. Reuters, a news agency quoted Cabraal as saying on the sidelines of […]
Road Finance
Feb 22, 2013 (LBO) – Sri Lanka’s Hatton National Bank will provide a 3.2 billion rupee long-term loan to the state to finance the rebuilding of 37.5 kilometres of priority roads in the central part of the island, the state information office said.The loan will be used to re-build road sections of 33.50 to 44.0 […]
Management Ideas
Feb 22, 2013 (LBO) – The faculty of management studies and commerce of the University of Sri Jayewardenepura is holding an international conference with papers to be presented by participants from Malaysia, Poland, France and India in addition to Sri Lanka.The ‘International Conference on Business Management’ will be held on February 28 and March 01 […]
Sri Lanka and Korea air links to expand
Feb 22, 2013 (LBO) – Sri Lanka and Korea has liberalized an air services agreement allowing traffic rights to third countries which is expanding air links between the capitals of the two countries, the foreign ministry said.A new air services agreement had been signed on February 20 allowing Korean Air to fly to Maldives and […]
Sri Lanka medical officers to get Allianz cover
Feb 22, 2013 (LBO) – Members of Sri Lanka’s Government Medical Officers’ Association (GMOA) will be able to get motor insurance with professional liability cover, insurer Allianz Lanka said.Under an agreement signed with GMOA, its member will get motor insurance with free flood and natural disaster cover, with professional liability. “We are sure this will […]
Sri Lanka power regulator trims proposed expenses
Feb 22, 2013 (LBO) – Sri Lanka’s power regulator has trimmed 33 billion rupees or about 12 percent of expenses proposed by the state-run Ceylon Electricity Board in the second step to revising power tariffs.Large volumes of bank loans taken to subsidize energy from mid 2011, which were ultimately accommodated with central bank credit (printed […]