Category:
Loan Finance
Dec 05, 2012 (LBO) – Sri Lanka’s People’s Leasing and Finance Plc, the country’s largest non bank lender is planning a 100 million US dollar syndicated loan to fund future expansion, officials said. Chief executive D P Kumarage said the lender was in talks with a Middle East based party to syndicate the loan, which […]
Sri Lanka Aviva unit purchase wrapped up by AIA
Dec 05, 2012 (LBO) – American International Assurance has completed the take-over of Sri Lanka’s Aviva NDB Insurance by purchasing an investment vehicle that held 87.2 percent of the firm and directly buying up another 5. 0 percent. AIA has paid 109 million US dollars to buy up Aviva NDB Holdings Lanka (Pvt) Ltd, whose […]
Sri Lanka expects BOP surplus of US$380mn in 2012
Dec 05, 2012 (LBO) – Sri Lanka is expecting a ‘balance of payments’ surplus of 380 million US dollars in 2012 the latest Central Bank projection said, down from a 1.25 billion US dollar projection in May. For 2013 the Central Bank is projecting a BOP surplus of 780 million US dollars, according to a […]
‘s NDB, CRISIL develop bond indices
Dec 04, 2012 (LBO) – Sri Lanka’s NDB Investment Bank and CRISIL Limited, India has developed a family of gilt indices which will help investors to benchmark investments and come up with index based funds and derivatives, officials said. NDBIB-CRISIL 91 day, T-bill index, NDBIB-CRISIL 364 day T-bill Index, NDBIB-CRISIL 3-T-Bond Index and NDBIB-CRISIL 5-year […]
Sri Lanka stocks barely changed, rupee extends gains
Dec 04, 2012 (LBO) – Sri Lanka’s stocks closed marginally lower Tuesday and the rupee extended gains to close at 128.35/45 levels against the spot US dollar, brokers and dealers said. The Central Bank’s Treasury bill stock rose to 217 billion rupees on Monday, pointing either to state loan settlements outside the domestic monetary system […]
Finance Consolidation
Dec 04, 2012 (LBO) – Sri Lanka will not issue new finance company licenses in the next two years but is urging weaker lenders to consolidate with larger stronger ones, Central Bank Governor Nivard Cabraal said. “The Monetary Board (the Central Bank’s decision-making body) has taken a decision not to give new license in the […]
1000 League
Dec 04, 2012 (LBO) – Sri Lanka’s state-run Bank of Ceylon has been ranked among top 1,000 global banks by UK-based Banker magazine, the island’s largest lender said. Bank of Ceylon serves over ten million customers island wide and has a rating of ‘AA+(lka)’ from Fitch with a stable outlook. Chairman Gamini Wickramasinghe said in […]
Sri Lanka war refugees get 175 boats from India
Dec 04, 2012 (LBO) – India has gifted 175 boats and equipment worth 71 million rupees to war refugees in Mannar in northeastern Sri Lanka, the Indian High Commission (embassy) in Colombo said. . Indian envoy Ashok K. Kantha has recalled that in 2009 India has gifted boats to fishermen in Vaharai in the Eastern […]
” prices plunge in secondary market
Dec 04, 2012 (LBO) – Prices of ‘permits’ issued to state workers to buy tax slashed cars have plunged in the secondary market, following the effective legalization of a re-sale process, sources familiar with the market said. The price of a tax slashed permit for an standard family sized car had fallen from about 1.5 […]
Sri Lanka stocks close 0.2-pct lower, rupee stronger
Dec 03, 2012 (LBO) – Sri Lanka stocks closed 0.2 percent lower Monday amid thin trading, with some large cap stocks losing ground, while the rupee gained against the dollar, brokers and dealers said. The rupee opened at around 129.80/130.00 against the US dollar in the spot market and closed around 129.30/40 levels, after trading […]
‘s Galle Literary Festivals to skip 2013
Dec 03, 2012 (LBO) – Organizers of Sri Lanka’s Galle Literary Festival said it will return in 2014 with “a host of renowned writers, authors, historians, poets and biographers both global and local” after taking skipping 2013. “We wish to advise all friends of the Galle Literary Festival, that we have decided to take a […]
‘s import based taxes slow in second half
Dec 03, 2012 (LBO) – Import based taxes have slowed in the second half partly due to a sharp reduction in vehicles, though building material imports were still up, a top customs official said. Neville Goonewardene, who headed Sri Lanka’s customs department, told a forum of importers that the agency was given a target of […]