Category:
‘s Leasing plans billion rupee CP sale
Nov 01, 2012 (LBO) – Sri Lanka’s People’s Leasing Company, the country’s largest leasing firm is planning a billion rupees commercial paper sale, which has been given a short term ‘F1+(lka) rating, Fitch Ratings said. People’s Leasing has a long term rating of ‘AA-(lka)’ from Fitch. The leasing firm is a unit of state-run People’s […]
Sri Lanka stocks close -0.3 pct lower
Nov 01, 2012 (LBO) – Sri Lanka’s stocks fell 0.35 percent Thursday dragged down by financial sector stocks despite gains by index heavy Dialog Axiata, brokers said while the ruling coalition moved to impeach the country’s chief justice. Hatton National Bank fell 7.20 to close at 140.80 rupees, Commercial Bank closed at 102.90 down 2.0 […]
Flat Quarter
Nov 01, 2012 (LBO) – Profits at Sri Lanka’s People’s Leasing and Finance group, the country’s largest non-bank lender was 795 million in the September 2012 quarter rupees barely changed from 790 million rupees a year earlier. Leasing and higher purchase rentals outstanding were also flat at 79 billion rupees by end September from 78.9 […]
Steady Rate
Nov 01, 2012 (LBO) – Sri Lanka’s Nations Trust Bank’s ‘A(lka)’ rating has been confirmed by Fitch Ratings with a stable outlook, on a stable credit profile and efforts to improve its franchise, the rating agency said. “Continued consolidation of NTB’s franchise alongside sustained improvements to its credit profile may result in a rating upgrade,” […]
Sri Lanka to lease islet for resort for a billion rupees
Nov 01, 2012 (LBO) – Sri Lanka will lease an islet off the Western coast of the island for a 1,070 million rupee upfront payment to a developer to build an integrated tourist resort, information minister Keheliya Rambukwelle said. The cabinet of ministers had approved a proposal by economic development minister Basil Rajapaksa to lease […]
Impeachment
Nov 01, 2012 (LBO) – Sri Lanka has begun a process to impeach chief justice Shirani Bandaranayake with a motion signed by with 117 legislators representing the ruling coalition, information minister Keheliya Rambukwelle said. Rambukwelle said the harmony between the parliament and judiciary had been disturbed with the judiciary overstepping its role, which has prompted […]
Tele Biz
Nov 01, 2012 (LBO) – Dialog Television, a direct-to-home pay television service run by the Sri Lanka’s unit of Malaysia’s Axiata group said subscribers rose 50,000 over the past year to top 250,000 by end September 2012. Revenues had grown 29 percent to 2.2 billion rupees for the nine months ending September 2012, and earnings […]
Chat Margins
Nov 01, 2012 (LBO) – Profits at Dialog Axiata, Sri Lanka’s largest cellco surged 273 percent to 4.7 billion rupees in the September 2012 quarter from a year earlier, partly due to a tax reversal, interim accounts showed. Dialog has opted for a 2.0 percent tax based on turnover at the end of a tax […]
Sri Lanka forum highlights paperless trade benefits
Nov 01, 2012 (LBO) – Reducing red tape and adopting paperless systems will improve competitiveness of South Asian countries whose intra-regional trade costs are almost 50 percent higher than those of East Asia, a UN trade official said. And getting importers and exporters involved in designing such systems is essential as government initiatives without private […]
Sri Lanka Treasuries yields up
Oct 31, 2012 (LBO) – Sri Lanka’s Treasuries yields rose across maturities at Wednesday’s auction with the 12-month yield rising as much as 08 basis points to 12. 56 percent, data from the state debt office showed. The debt office which is a unit of the Central Bank has in the past printed money and […]
Sri Lanka stocks close down 0.13 pct
October 31, 2012 (LBO) – Sri Lanka stocks closed down 0.13 percent Wednesday with S & P SL 20 index of large cap stocks closing higher at 4.18 points. The Colombo All Share Index closed at 5,513.64 down 6.98 points and the S & P SL 20 Index closed 4.18 points higher at 2988.05 up […]
Distress Call
Oct 31, 2012 (LBO) – Rescuers are still looking for four missing crewmen from a Vietnamese cargo vessel that sank in heavy seas 150 nautical miles off Sri Lanka’s eastern coast, an official said. Sri Lanka’s navy had tried to send a ship to the distressed vessel yesterday but could not reach the area due […]