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Sri Lanka business chambers warn against CJ impeachment
Jan 10, 2013 (LBO) – A move by Sri Lanka’s ruling coalition to impeach chief justice Shirani Bandaranaike through a controversial process which was decided as illegal by courts will harm the country, key business chambers said. She has denied the charges and expressed willingness to face a tribunal where rules of natural justice prevailed […]
Sri Lanka rupee strengthens in early trade
Jan 09, 2013 (LBO) – Sri Lanka’s rupee gained about against the US dollar in mid morning trade Wednesday to 126.25/55 levels in the spot market on expectations of foreign purchases of rupee bonds, dealers said. Sri Lanka’s rupee has strengthened from lows of 134 to the US dollar in mid 2012 following a float […]
Sri Lanka Treasuries yields drop
Jan 09, 2012 (LBO) – Sri Lanka’s Treasuries yields dropped across maturities with the 6-month yield falling as much as 18 basis points to 10.81 percent at Wednesday’s auction, data from the state debt office showed.The 3-month yield dropped 03 basis points to 0.88 percent and the 12-month yield dropped 03 basis points to 11.35 […]
Sri Lanka Australia hospitality school starts
Jan 09, 2012 (LBO) – A Sri Lanka-Australia joint venture hospitality sector training school ready to begin teaching its first intake of students at a 320 million rupee purpose built facility, officials said.The Colombo Academy of Hospitality Management (CAHM) was set up by the Sri Lanka Institute of Information Technology (SLIIT) and Australia’s William Angliss […]
Reaction
Jan 09, 2012 (LBO) – Sri Lanka has deplored the beheading of a maid in Saudi Arabia after she was convicted of killing an infant under her care when she was still a minor. Rights group called for clemency as the Rizana Nafeek did not have legal representation at the time of her trial. The […]
Collaborative Net
Jan 09, 2013 (LBO) – Sri Lanka’s MAS Holdings has adopted a system provided by MillenniumIT and Dialog Axiata for internal communications for its plants and design centres in 41 locations in 10 countries. MillenniumIT, a unit of the London Stock Exchange group said the Microsoft Lync Server based system hosted by Dialog will allow […]
Sri Lanka gilt yields up in secondary trading
Jan 08, 2013 (LBO) – Sri Lanka government bond yields has picked up after falling steeply over two days ahead of a large bond auction, dealers said.A bond maturing on 15 July 2017 opened around 10.70/80 percent Monday and closed at around 11.00/11.10 percent, dealer said. A bond maturing on 15 August 2018 also opened […]
Ship Call
Jan 08, 2013 (LBO) – A call by a car carrier belonging to Japan’s K-Line, at Sri Lanka’s Colombo port this week is expected to lead to further business in transshipment from the shipping line, officials said.Wickrama had said 200 million dollars had been spent in upgrading container handling facilities in Colombo to boost productivity […]
Deposit Target
Jan 08, 2013 (LBO) – Sri Lanka’s state-run Bank of Ceylon, the country’s largest commercial bank by assets is aiming for a trillion rupees in deposits, newly appointed general manager D M Gunasekara said.Gunasekara had been with the Bank of Ceylon for 29 years and had worked in corporate, retail, international and off-shore operations of […]
Court Decision
Jan 08, 2013 (LBO) – Sri Lanka’s court of appeal has quashed the findings of a parliamentary committee against Chief Justice Shirani Bandaranayake where lawyers said she was not accorded due process and principles of natural justice. Sri Lanka’s Supreme Court has earlier said the parliamentary committee was unconstitutional. Sri Lanka’s Parliament is due to […]
Sri Lanka Ceylease on upgrade track: Fitch
Jan 07, 2013 (LBO) – Sri Lanka’s Ceylease Ltd rated ‘BB+(lka)’ has been put on positive rating watch pending a merger with MCSL Financial Services Limited, which is rated a notch higher at ‘BBB(lka)’. “Fitch will upgrade CL’s rating to align with MFSL’s rating upon the conclusion of the merger,” the rating agency said in […]
Sri Lanka foreign holder ceiling on gilts to stay: CB Governor
Jan 07, 2013 (LBO) – Sri Lanka is keeping a ceiling on foreign holdings of Treasuries at 12.5 percent of outstanding for 2013, Central Bank Governor Nivard Cabraal said.Rupee bonds sold in the secondary market are cleared through the domestic monetary base, putting pressure on the domestic credit and through that on the exchange rate […]