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Sri Lanka stocks close slightly firmer
Jan 11, 2012 (LBO) – Sri Lankan stocks closed slightly firmer Wednesday, ending a six-day losing streak although turnover remained thin with a recovery in shares and warrants of a firm which has delayed conversion for the second time, brokers said. HVA Foods was also actively traded, closing at 36.50 rupees, up 10 cents. Textured […]
Port Saga
Jan 11, 2012 (LBO) – China Merchant Holdings (International), and state-run Sri Lanka Ports Authority may buy parts of a 30 percent stake in a container terminal project at Colombo port held by private listed Aitken Spence, a media report said. China Merchants is already the dominant partner a 55 percent stake and the SLPA […]
Rough Waters
Jan 11, 2012 (LBO) – Sri Lanka’s Aitken Spence, may be forced to pullout from a container terminal project in Colombo after financing from a Chinese bank fell through, requiring additional financing from consortium partners, sources said. The new commitment would have been a further 130 million US dollars, which was beyond the capacity of […]
Sri Lanka gets US2bn in tourism project proposals: minister
Jan 11, 2012 (LBO) – Sri Lanka has received 210 applications worth two billion dollars for new tourism projects in 2011 as the sector became a target for investors after the end of a 30-year war, a minister said. In 2012, the industry will add another 2,500 rooms, he said. Deputy economic development minister Lakshman […]
Sri Lanka warns of Tamil Tiger separatist revival
Jan 11, 2012 (LBO) – Sri Lanka is maintaining high defence spending and sizeable military to guard against any possible resumption of violence by Tamil Tiger separatists who are trying to regroup, a senior defence official said. The island’s intelligence services had picked up evidence of attempts to reactivate the Liberation Tigers of Tamil Eelam […]
Sri Lanka policy rates steady, market rates up
Jan 11, 2012 (LBO) – Sri Lanka’s main policy interest rate at which cash is injected to the market will remain at 8.50 percent but an increase in market rates could help reduce money supply growth, the Central Bank said as it battles pressure on a dollar peg. Sri Lanka’s peg with the US dollar […]
Sri Lanka stocks fall 0.2-pct
Jan 10, 2012 (LBO) – Sri Lankan stocks weakened for the sixth straight trading day Tuesday, with investors selling off shares and warrants of a firm which has delayed conversion for the second time, brokers said. The main All Share Price Index fell 0. 17 percent (10.03 points) to 5,862.91, while the more liquid Milanka […]
Healthy Profile
Jan 10, 2012 (LBO) – RAM Ratings Lanka has assigned long- and short-term corporate credit ratings of A+ and P1 to Lanka Hospitals Corporation with the long-term rating having a stable outlook. “The ratings are upheld by the hospital™s strong financial profile, liquidity, ongoing state support and the positive outlook for the private healthcare industry,” […]
Tower Tale
Jan 10, 2012 (LBO) – Sri Lanka’s telecommunications regulator has drawn up a new policy that will regulate construction and use of transmission towers by mobile phone companies and radio and television stations. A national policy on telecommunications transmission towers was required with growing competition among mobile phone providers who have put up their own […]
Sri Lanka bonds yields below 10-pct ahead of maturity
Jan 09, 2012 (LBO) – Sri Lanka’s bond yield held below 10 percent for two to four years bonds ahead of a 50 billion tranche of long term government securities maturing on January 15, dealers said. A 01 March 2014 was quoted around 9.30/40 percent, a July 15, 2015 bond was quoted around 9.40/47 and […]
Sri Lanka stocks fall almost one percent
Jan 09, 2012 (LBO) – Sri Lankan stocks fell for the fifth consecutive trading day Monday, with shares and warrants of a firm which has delayed conversion for the second time coming under selling pressure, brokers said. Commercial Bank, in which foreign investors have been selling out, accounted for the biggest turnover of the day, […]
Credit
Jan 09, 2012 (LBO) – Sri Lanka’s credit information office is planning to acquire software by US-based Dun & Bradstreet costing 150 million rupees as it expands coverage and services, an official said. “We expect the software to be deployed from March,” Sri Lanka Credit Information Bureau (CRIB) general manager Gamini Karunaratne said. “It may […]