Category:
Steady State
Sept 16, 2012 (LBO) – Fitch Ratings has confirmed an ‘AAA(lka)’ rating of Sri Lanka’s HSBC branch with a stable outlook, citing support from its parent, Hongkong and Shanghai Banking Corporation Limited. HSBCSL’s National Long-Term Rating is at the highest end of the National Rating scale. A downgrade of HSBCSL rating could result from HKSB’s […]
Compensation
Sept 16, 2012 (LBO) – Shareholders of two listed firms that were expropriated by the state last year can lodge claims for compensation from a three member tribunal, a media report said. Sri Lanka’s The Sunday Island newspaper quoting a public notice said the panel wahzas made up of the Government Valuer, former chief valuer […]
Vehicle Trend
Sept 15, 2012 (LBO) – Sri Lanka’s vehicle registrations had fallen 39.5 percent to 27,185 in August 2012, from a year earlier, though there was marginal pick up from a low of around 24,000 hit in June, an analysis by an equities research house has showed. Luxury Mercedes, BMW and Audi units fell just 11 […]
No Change
Sept 15, 2012 (LBO) – Fitch Ratings has confirmed an ‘AAA(lka)’ rating of the Sri Lanka branch of Citibank with a stable outlook, saying it is strongly capitalized and had support would be available from the parent unit. The bank had no bad loans but had a 44 percent concentration on the appare sector. The […]
Sri Lanka state carrier in code-share flight to Italy
Sept 16, 2012 (LBO) – State-run SriLankan Airlines said it will fly to Rome and Milan code sharing with Italy’s Alitalia from September 16. Flight no UL2028 will be operated in association with Alitalia, the airline said in a statement. .
Sri Lanka stocks up 7.8-pct in week
Sept 14, 2012 (LBO) – Sri Lanka stocks closed up 2.59 percent Friday gaining 7.8 percent through the week in a broad based rally, with record gains by an illiquid new stock, brokers said. The benchmark Colombo All Share Price Index closed at 5,920 gaining 149.6 points and the S&P SL 20 index closed up […]
Growing Younger
Sept 14, 2012 (LBO) – Sri Lanka’s Maliban Biscuits says it has given a make-over to its popular 40-year old ‘Lemon Puff’ brand, which is also a niche export market, making it more appealing to younger consumers. The brand has been re-launched with pop stars Bathiya and Santhush as brand ambassadors. The Maliban Lemon Puff […]
Sri Lanka should cut corruption, opaque rules to draw investors: Blake
Sept 14, 2012 (LBO) – Sri Lanka should cut corruption and create transparent processes for investors and also avoid unpredictable actions such as expropriating property, a senior US State Department official said. “In general we want to see the government do as much as they can to reduce some of the impediments – bureaucratic impediments […]
Sri Lanka to keep credit ceilings in place, policies working: CB Governor
Sept 14, 2012 (LBO) – Sri Lanka’s will keep credit ceilings in place as banks still have enough space to lend, and policies taken to fix balance of payments pressure is bringing results, Central Bank Governor Nivard Cabraal said. Governor Cabraal says measures taken earlier in the year, including credit ceilings are now taking effect […]
Sri Lanka stocks up 1.9-pct
Sept 12, 2012 (LBO) – Sri Lanka stocks rose 1.9 percent Thursday with saw penny stocks and key large caps moving up, extending a rally that began in late August, brokers said. The Colombo All Share Price Index rose 108.9 points to close at 5,777.22 and the S&P SL 20 index rose 1.93 percent to […]
Land Connections
Sept 12, 2012 (LBO) – China State Construction Engineering Corporation Limited has been given a 40 billion rupees (303 million US dollars) contract to build roads and flyovers in Hambantota in the South. Cabinet spokesman minister Keheliya Rambukwelle said 85 percent of the financing will come from the Exim Bank of China and the balance […]
Sri Lanka hopes to lift Tamil Nadu travel advisory soon: minister
Sept 13, 2012 (LBO) – Sri Lanka hopes to lift an advisory warning citizens not to travel to India’s Tamil Nadu state soon, cabinet spokesman minister Keheliya Rambukwelle said.India’s central government has assured that protection will be given to Sri Lankan tourists in India. Indian media reports and several political parties had condemned the attacks […]