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‘s Sebi proposes new regulations for investment advisors
MUMBAI, Dec 29 (Asia Pulse) – Indian market regulator Sebi has proposed new rules for investment advisors that will require them to be registered with a self-regulatory organisation (SRO) before undertaking such a role. The services will include financial advice, financial planning service and actions which would influence an investment decision. Besides, representatives of investment […]
Sri Lanka renewable energy use grows
Dec 29, 2011 (LBO) – Non-conventional renewable energy use has grown sharply this year, accounting for the fastest growth among the different sources of energy in the island, according to latest central bank data. Non-conventional renewable energy mainly consists of hydro- , wind, solar and biomass. Most non-conventional hydro-power in Sri Lanka comes from small […]
Sri Lanka should be prepared for slow global recovery: Razeen Sally
Dec 28, 2011 (LBO) – Sri Lanka should be prepared for a slow external environment with stimulus by deficit spending having failed in advanced economies and China and India also losing momentum, an international economist said. Both Hayek and fellow Austrian economist Ludwig von Mises had seen at firsthand what money printing, deficit spending and […]
Sri Lanka Treasuries yields head higher
Dec 28, 2011 (LBO) – Sri Lanka’s Treasuries yields edged higher at Wednesday’s auction, data from the state debt office showed. The 3-month Treasury bill yield increased 10 basis points to 8.68 percent while the six-month bills went for 8. 71 percent after bid were rejected last week. The 12-month yield increased 10 basis points […]
Sri Lanka stocks close up 1.3-pct
Dec 28, 2011 (LBO) – Sri Lankan stocks closed higher for the fourth straight day Wednesday with more deals in a bank helping to prop up turnover that fell to low levels, brokers said. The main All Share Price Index rose 1.30 percent (78.30 points) to 6,093.39, while the more liquid Milanka index rose 0.89 […]
Tracks
Dec 28, 2011 (LBO) – India’s Tata and Maruti brands is leading Sri Lanka’s vehicles market taking a lion’s share of both automobile and trucks, data compiled by a Colombo based stock brokerage shows. In November 1,348 Maruti cars were registered in a market where about 4,500 to 5,000 cars are registered each month, data […]
Containing Risk
Dec 28, 2011 (LBO) – Fitch Ratings has confirmed the Housing Development Finance Corporation Bank of Sri Lanka’s (HDFC) National Long-Term rating at ‘BBB+(lka)’ with a stable outlook. At the same time, the agency has confirmed the bank’s outstanding senior unsecured redeemable debentures at ‘BBB+(lka)’. “The ratings reflect HDFC’s demonstrated ability to contain interest rate […]
India FDI drops 50-pct to billion dollars in Nov
NEW DELHI, Dec 28 (AsiaPulse) – Reflecting the economic slowdown in the world’s major economies, foreign direct investment into India dipped by over 50 per cent to US$1.16 billion in October for the second month in a row. The country had received US$2.33 billion overseas investment in the same month last year. In September, the […]
SriLankan Airlines offers cargo delivery service in UK
Dec 28, 2011 (LBO) – SriLankan Airlines has begun a cargo delivery service to the United Kingdom that also offers customs clearance and documentation handling in an effort to gain a competitive edge. The new Door Delivery Cargo service is operated in collaboration with Air & Cargo Services Limited in the United Kingdom. The national […]
Sri Lanka primary dealer profit falls sharply
Dec 27, 2011 (LBO) – Newly listed primary dealer Entrust Securities said net profit for the six months ended September 30, 2011 fell 80 percent to 26. 8 million rupees from a year ago. Earnings per share of the firm, the first non-bank primary dealer to be listed, slipped to 81 cents from 4.10 rupees […]
Sri Lanka stocks close up 0.5-pct
Dec 27, 2011 (LBO) – Sri Lankan stocks closed higher for the third straight day with the main index climbing back over the 6,000 point mark and large deals in a bank accounting for most of the turnover, brokers said. The main All Share Price Index rose 0. 54 percent (32.51 points) to 6,015.09, while […]
Sri Lanka islet eyed by India firm
Dec 27, 2011 (LBO) – Delta Corporation, an India based firm, is in talks with Sri Lanka for 75 million dollar tourism development in an islet off the northwestern coast of the island, an official familiar with the matter said. Officials have said that 185 project proposals worth 1.85 billion US dollars have been received […]