Category:
Sri Lanka Treasuries yields steady
July 12, 2011 (LBO) – Sri Lanka’s Treasuries yields were steady at this week’s auction with the 3-month yield flat at 7. 11 percent, the government’s debt office said. The government sold 1.0 billion rupees in 3-month bills, 6. 6 billion in 6-month bills and 7.8 billion in 12-month bills. The 6-month yield slipped 02 […]
Sri Lanka stocks down 1.5-pct
July 12, 2011 (LBO) – Sri Lanka stocks slumped again Tuesday, dropping 1.54 percent amid continued forced selling with Softlogic Holdings falling below its Initial Public Offer (IPO) price on its trading debut. The main All Share Price Index closed at 6,663.64, down 1.54percent (103.95 points) while the more liquid Milanka index fell 1.76 percent […]
Cruise Call
July 12, 2011 (LBO) – A cruise liner service between India and Sri Lanka that was to start in early July 2011 has been delayed as government approvals are being awaited, an official said. Ceyline has tied up with Chennai-based AMET Shipping to operate a cruise ship between Chennai and Trincomalee that was also to […]
Sri Lanka agro chemical firms forecast pesticide shortfalls
July 12, 2011 (LBO) – A group of agro firms have warned that Sri Lanka may run short of pesticides for the next growing season unless a controversy over the presence of arsenic is resolved quickly with independent testing. ‘Croplife Sri Lanka’ an industry grouping representing 26 agro chemical firms said arsenic is not an […]
Port Closed
WELLINGTON, July 11, 2011 (AFP) – New Zealand has refused entry to a boat load of Sri Lankan asylum seekers, saying it would only open the door to “millions of others” and reward people smugglers. A boat containing about 85 Sri Lankans who said they were heading to New Zealand was detained in Indonesian waters […]
Sri Lanka Softlogic to buy insurer
July 12, 2011 (LBO) – Sri Lanka’s Softlogic Holdings group is buying a 73. 5 percent stake in Asian Alliance Insurance, a listed insurer for 3,308 million rupees, the company said in a stock exchange filing. Softlogic Holding group will buy 53. 16 percent of Asian Alliance held by Asia Capital PLC and its subsidiaries […]
Sri Lanka promises no power cuts but utility losses up
July 12, 2011 (LBO) – Sri Lanka will not impose power cuts although hydro-power reservoirs have run dry owing to drought but losses in the state utility will rise as it relies more on high-cost thermal power plants. Power minister Patali Champika Ranawaka said power generation capacity in hydro-power reservoirs had fallen to 29 percent […]
Oil Transfer
LONDON, July 12, 2011 (AFP) – British oil explorer Cairn Energy on Tuesday announced that it had sold 10 percent of its Indian unit to Vedanta Resources for a net cash sum of . 362 billion (978 million euros). India had last month given conditional clearance to the sale of Cairn Energy’s Indian oilfields to […]
Oil Case
July 12, 2011 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation has been asked to pay 162 million dollars to Standard Chartered Bank over oil derivatives it stopped payment on in 2008, according to a judgment by a London court. Extracts from the judgment: SCB Case ¢ SCB’s case is straightforward: it is entitled to […]
Sri Lanka war-torn north shows highest economic growth: CB
July 12, 2011 (LBO) – Sri Lanka’s northern province, which had been badly hit by war, had the highest rate of economic growth in 2010 as a post-war rebound continued, the central said. The north’s gross domestic product grew 22.0 percent last year, the bank said in an analysis of provincial GDP. The eastern province, […]
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July 11, 2011 (LBO) – Fitch Ratings Lanka has assigned Nations Trust Bank’s (NTB) proposed subordinated debentures of up to two billion rupees a National Long-Term rating of ‘A-(lka)’. The John Keells group and the Central Finance group hold 29. 9 percent and 20 percent of NTB’s equity. The issue is rated one notch below […]
Sri Lanka stocks slump 02-pct
July 11, 2011 (LBO) – Sri Lanka stocks fell steeply Monday with sharp falls in market heavyweights and recent debutants, brokers said. The main All Share Price Index closed at 6,767.59, down 2.09 percent (144.39 points) while the more liquid Milanka index fell 1.76 percent (112.52 points) to close at 6,274.45, according to stock exchange […]