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Sri Lanka stocks closed down 0.50 pct
October 04, 2012 (LBO) – Sri Lanka stocks closed down 0.50 percent Thursday continuing a three day losing streak. The Colombo All Share Index closed at 5,861.35 down 29.34 points and the S & P SL 20 Index closed 12.06 points lower at 3,177.88 down 12.06 percent. Turnover was 565 million rupees. Top contributors to […]
Sri Lanka drought dries up tea company cash flows
Oct 04, 2012 (LBO) – A severe drought has damaged tea plants in key Sri Lankan growing regions causing crop losses and cash flow problems for some plantations companies already grappling with high production costs. A statement from the Planters’ Association, which represents listed plantation companies, said some factories had been forced to close owing […]
Health Investment
Oct 04, 2012 (LBO) – Actis Investment Holding SL Limited, said it had invested 2.26 billion rupees through a private placement of shares in Sri Lanka’s Asiri Hospital Holdings Plc, a Colombo listed company. Sri Lanka’s Colombo Stock Exchange the stock has been listed from October 03. Actis said the investment, which was 19. 09 […]
‘s ITC
Oct 04, 2012 (LBO) – India’s ITC Limited will build a 140 million US dollar mixed development including a hotel, shopping mall and apartments in Sri Lanka’s capital Colombo, minister Keheliya Rambukwelle said. ITC has been given state land in Colombo’s ‘Galle Face’ beachfront. Though earlier reports said ITC may operate a ‘Sheraton’ branded hotel […]
Sri Lanka to build high rises for shanty-dwellers
Oct 04, 2012 (LBO) – Sri Lanka’s urban agency will be given state land in 15 locations to build high rise apartments for people living in underserved settlements in the capital Colombo, cabinet spokesman minister Keheliya Rambukwelle said. The agency has already awarded contracts to build 9,781 housing unit in 11 locations in Colombo which […]
Iran heading for hyperinflation: Steve Hanke
Oct 04, 2012 (LBO) – Iran is heading for hyperinflation with a collapsing Riyal driving up prices above a 50 percent a month threshold, as US led economic sanctions hurt state revenues, a top monetary economist has said. Hanke says the black market and official exchange rates began to diverge after July 2010 when President […]
Sri Lanka Treasuries yield plunge at auction
Oct 03, 2012 (LBO) – Sri Lanka’s Treasuries yields fell across maturities at Wednesday’s auction with the 12-month yield falling the most by 54 basis points to 12. 48 percent, data released by the state debt office showed. The state offered 10 billion rupees in maturing debt and accepted 13.0 billion rupees from the market. […]
”’ by RAM
Oct 03, 2012 (LBO) – RAM Ratings has given a ‘BBB+’ long term rating with a stable outlook to First Capital Holdings, an investment company with interests securities dealing, margin trading and portfolio management. First Capital Holdings’ 500 million rupees worth unsecured commercial paper had been give a ‘P2’ rating. RAM Rating said the firm […]
Sri Lanka stocks close 0.64-pct lower
October 03, 2012 (LBO) – Sri Lanka stocks closed down 0.64 percent Wednesday with some blue chip stocks losing ground. Aitken Spence PLC gained 1.00 rupees to close at 135.00 down 0.75 percent. Dialog Axiata PLC slipped 0.20 cents to close at 8.80 rupees down 2.22 percent. The Colombo All Share Index closed at 5,890.69 […]
Foreign Appetite
Oct 03, 2012 (LBO) – Sri Lanka’s NDB Bank says there is international investor appetite for bond for large projects in the island, including public private partnerships which are beyond the capacity of domestic financial markets. NDB Bank group, which has an investment banking relationship with Singapore’s DBS has had preliminary investor meetings with foreign […]
Name Change
Oct 03, 2012 (LBO) – People’s Leasing Company, Sri Lanka’s largest leasing firm said it has changed its name to People’s Leasing & Finance Plc. The firm has a ‘AA-(lka)’ domestic rating and B+ international rating from Fitch. It also has a B+ rating from Standard and Poor’s. In July the company has applied to […]
Sri Lanka Nestlé unit sets milk collection record
Oct 03, 2012 (LBO) – Nestlé Lanka, a unit of Swiss based Nestlé said it had collected five million litres of milk from domestic farmers, which was the highest monthly collection to date. The firm collects milk from 18,000 dairy farmers in rural Sri Lanka. “Developing and contributing to Sri Lanka™s rural economy has always […]