Category:
Loan Relief
Aug 30, 2012 (LBO) – Several banks in Sri Lanka will suspend recovering farmer loans in drought stricken areas on an order made by President Mahinda Rajapaksa, information minister Keheliya Rambukwella said. The moratorium came after representations made by farmers when President Rajapaksa visited drought stricken areas recently, minister Rambukwelle said. The debt moratorium applies […]
Mortgage Access
Aug 30, 2012 (LBO) – Sri Lanka’s former war zones in the north and the east and areas in the South hit by a tsunami in 2004 will get housing loans from DFCC Vardhana Bank financed by a 15 million US dollar credit from Asian Development Bank. ADB said it the loan from its private […]
Sri Lanka Laugfs expects 398-room hotel chain by end 2014
Aug 30, 2012 (LBO) – Sri Lanka’s Laugfs group is expecting to have 398 hotel rooms operational by end 2014 under its ‘Ananthaya’ branded chain, chairman W K H Wegapitiya said. The chain includes a 75 room hotel in Sigiriya, a 125 room hotel in Waskaduwa a 110 room hotel in Passikudah and an 88 […]
‘s Wife
Aug 30, 2012 (LBO) – Several new appointments announced to the Securities and Exchange Commission of Sri Lanka had connections to firms which were reportedly being probed, and fresh choices with professionals with a clean record should be made, a legislator has said. Former regulator Tilak Karunaratne has said that 17 probes were reaching their […]
Sri Lanka consumer prices rise 9.5-pct to August
Aug 30, 2012 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 9. 5 percent in August 2012 from a year earlier, easing slightly from 9. 8 percent in July, with the index falling in absolute terms in the month, the state statistics office said. The Colombo Consumer Price Index fell 0. 6 percent […]
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Aug 29, 2012 (LBO) – Fitch has rated a proposed billion rupee redeemable debt sale by Singer Sri Lanka, a consumer durables retailer ‘A(lka)’ with a stable outlook. “The rating reflects Singer’s market position as one of Sri Lanka’s largest consumer durables retailers, as well as its established franchise and extensive distribution network,” Fitch Ratings […]
Sri Lanka stocks close up 0.2-pct
Aug 29, 2012 (LBO) – Sri Lanka’s stocks closed up 0.2 percent Wednesday in a late rally after running out of steam amid profit taking earlier in the day, brokers said. Free Lanka was next closing at 2.30 rupees with 12.7 million rupees. Index heavy Sri Lanka Telecom extended gains closing up 1.60 rupees at […]
SriLankan Airlines ups weekly India flights to 87
Aug 29, 2012 (LBO) – State-run SriLankan Airlines has upped weekly flights to India to 87 by increasing frequencies to Trivandrum by three to ten a week from August 30, the carrier said. The airline now flies to Bangalore, Chennai, Delhi, Mumbai, Trichy as well as Kochi and Trivandrum. “India is a high growth potential […]
‘s Spicejet from Sept 20
Aug 29, 2012 (LBO) – India’s Spicejet will fly to Sri Lanka from September 20, using 78-seat Bombardier Q400, 78-seater turboprop aircraft, a media report said. The airline will fly from Madurai in South India at 12. 30 pm and land in Colombo at 1.30 pm. The Colombo – Madurai will is from 2. 35 […]
Sri Lanka renewable energy firms demand higher tariffs after depreciation
Aug 29, 2012 (LBO) – Sri Lanka’s renewable energy firms have demanded higher tariffs after the rupee depreciated and interest rates rose following a balance of payments crisis, at a public consultation called by the power regulator. Renewable energy firms said the rupee had depreciated from 110 to over 130 (about 18 percent) over the […]
Sri Lanka Treasuries yields up
Aug 28, 2012 (LBO) – Sri Lanka’s Treasuries yields edged up across maturities at Tuesday’s auction with the three months yields gaining 05 basis points to 11.41 percent, data from the debt office showed. The 6-month yield rose 05 basis points to 13.07 percent and the 12-month yield rose 04 basis points to 13.31 percent […]
Sri Lanka stocks up 0.29 pct
Aug 28, 2012 (LBO) – Sri Lanka’s stocks closed up 0.29 percent with several large caps and speculative stocks extending gains, while a transfer of Aitken Spence shares boosted turnover, brokers said. Index heavy Sri Lanka Telecom closed AT 39.30 rupees up 1.10 rupees, Distilleries closed at 122.30 rupees up 3.30 and John Keells Holdings […]