Category:
Ad Awards
Sept 24, 2012 (LBO) – Organizers of Sri Lanka’s ‘Effie Awards’ is seeking advertisements and other marketing communications works in mainstream or alternative media, paid or unpaid, for this year’s contest. Ben Lightfoot, chairman of the Singapore Effies Chapter for 2012 and chief exectvie of the McCann Group will be a resource available to participants. […]
Legal Moves
Sept 24, 2012 (LBO) – A group of Sri Lankan lawyers have expressed concerns over attempts to intimidate the judiciary after the island’s judiciary ruled against a draft bill relating to powers devolved to regional bodies. Lawyers for Democracy (LfD) alleged that the current administration had transported people to a location near Sri Lanka’s parliament […]
Sri Lanka bank credit volumes fall to 18-month low in July
Sept 24, 2012 (LBO) – Loans from Sri Lanka’s commercial banks to state and private borrowers fell to 10.1 billion rupees in July 2012, down from 13.5 billion rupees a month earlier, the lowest since January 2011, partly helped by a sovereign bond sale. Loans to private borrowers rose 35. 7 billion rupees to 2,270.6 […]
Sri Lanka tyre recycling plant to make wood-like products
Sept 23, 2012 (LBO) – A Dena Nano Technology Lanka Pvt Ltd, company with British and Indian investment plans to recycle old automobile tyres into wood replacement material for the construction industry, a media report said. Dena Technology of UK has patented technology to make wood-like products for the construction industry from old tyres which […]
Sri Lanka bond yields plunge
Sept 22, 2012 (LBO) – Sri Lanka’s bond yields plunged across maturities Friday in one of the biggest intra-day day falls seeen in recent years, before profit taking pushed yields back up somewhat, dealers said. An 18-month bond maturing on 01.04.2014 opened at 3.45/50 percent and dropped as low as 12.90/13.00 percent before closing at […]
Failed Attempt
Sept 22, 2012 (LBO) – A group of 16 boat people who have opted to return to Sri Lanka has been sent back by a special flight, an Australian government statement said. Australia however has said it will increase places for migration through prescribed or ‘legal’ channels. Sri Lanka’s military has also ‘arrested’ boat people, […]
‘s Leasing to sell Rs500mn 12-m paper
Sept 21, 2012 (LBO) – Sri Lanka’s People’s Leasing Company Plc, a unit of state-run People’s Bank is planning to sell 500 million rupees of one year commercial paper which has been rated ‘F1+(lka)’, Fitch Ratings said. People’s Leasing is the largest non-bank financial institution in Sri Lanka by advances, with a 21 percnet share […]
Eating Out
Sept 21, 2012 (LBO) – Cargills (Ceylon) Plc said it had struck deal with US based TGI Friday’s Restaurant Inc, to operate a chain of franchise restaurants in Sri Lanka. Cargills said in a stock exchange filing that it was planning to open the first restaurant in the fourth quarter of the current financial year. […]
Sri Lanka to connect former war zone to national power grid
Sept 21, 2012 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board will connect the northern Jaffna peninsula to the national power grid on September 25, with the commissioning of a power line to the north, officials said. Next year a high tension 132kVA transmission standard line from Kilonocchi to Chunnakham is to be commissioned along […]
Sri Lanka has to keep inflation in mid single digits to grow: CB Governor
Sept 21, 2012 (LBO) – Sri Lanka has to keep inflation in mid single digits allowing interest rates to be in single digits helping keep annual economic growth around 8. 0 percent, Central Bank Governor Nivard Cabraal said. The index has briefly moved above mid single digits in the past few months peaking at 9. […]
”AA(lka) rated bonds
Sept 20, 2012 (LBO) – A five year subordinated bond sale by state-run Bank of Ceylon’s of up to 6 billion rupees has been rated ‘AA(lka)’ one notch below the entity’s national rating of ‘AA+(lka)’, Fitch Ratings said. The bonds will be used to boost the bank’s Tier II capital base. Fitch said Bank of […]
Sri Lanka central bank says issues guidelines to bank forex dealers
Sept 20, 2012 (LBO) – Sri Lanka’s Central Bank said it had issued a direction under the country’s banking law improve “the standard of business conduct and good market practices” on foreign exchange trading activities of licensed commercial banks. However some of the more extreme controls have been relaxed over the past three decades. “The […]