Category:
US panel votes to bar aid to Sri Lanka
WASHINGTON, July 22, 2011 (AFP) – A US congressional committee voted Thursday to ban aid to Sri Lanka unless the nation shows “accountability” over the bloodshed in the final stages of its civil war in 2009. In a voice vote, the House Foreign Affairs Committee approved a measure that would ban all US government funding […]
Sri Lanka bond navigates market uncertainty: CB Governor
July 21, 2011 (LBO) – Strong demand for Sri Lanka’s billion dollar sovereign bond among international fund managers indicated that the country’s credit has matured in international market, Central Bank Governor Nivard Cabraal said. “It’s really a reflection of Sri Lanka’s maturity in the international markets,” Central Bank Governor Nivard Cabraal said. “In a sea […]
Sri Lanka raises one billion dollars at 6.25 percent
July 21, 2011 (LBO) – Sri Lanka raises has sold a 10-year sovereign bond at 6. 25 percent to raise one billion dollars from international markets, a source close to the deal said. Sri Lanka recently got a rating upgrade, but it is also balanced against turmoil in international bond markets, analysts said. The deal […]
Sri Lanka stocks slump 1.3-pct
July 21, 2011 (LBO) – Sri Lankan stocks slumped Thursday with the main index reaching the lowest level this year and brokers saying many shares were overvalued and foreigners were getting out of the market. Recently listed Nanda Investment was the top percentage gainer and closed at 27.90 rupees, up 9.30 rupees or 50 percent. […]
Port Support
July 21, 2011 (LBO) – India is to provide Sri Lanka with grants and soft loans to rebuild Kankesanturai port in the northern Jaffna peninsula that was damaged during the ethnic war, under a deal signed Thursday. India has already committed 20 million US dollars for the work which involves a hydrographic survey, wreck removal […]
Finance Fortunes
July 21, 2011 (LBO) – Sri Lanka’s LB Finance’s net profits for the June 2011 quarter grew 94 percent to 351 million rupees from a year ago with a rise in lending, other income more than doubling and lower provisioning. Earnings per share rose to 5.07 rupees from 2.62 rupees, according to interim accounts filed […]
Official Rules
July 21, 2011 (LBO ) – Sri Lanka will introduce ‘fit and proper’ tests for senior executives of non-bank lenders, following on from similar rules for commercial banks, deputy central bank governor Dharma Dheerasinghe said. Fit and proper rules are also expected to be imposed on leasing companies in the future. The measures are aimed […]
Sri Lanka eyed by Four Seasons: minister
July 21, 2011 (LBO) – Canada-based Four Seasons leisure group is in discussions to set up a resort in Sri Lanka following the end of a 30-year, deputy economic development minister Lakshman Yapa Abeywardene said. It is also building a resort in Hambantota in the South of the island. Abeywardene said the group was interested […]
Eyeing China, Clinton urges India to take leader role
CHENNAI, July 20, 2011 (AFP) – US Secretary of State Hillary Clinton urged India on Wednesday to be more assertive in Asia, reflecting US desire for New Delhi to emerge as a counter-weight to Chinese power. Speaking in the Indian city of Chennai — a southern trading port looking out towards east Asia — Clinton […]
Sri Lanka names squad but not skipper
July 20, 2011 (AFP) – Sri Lanka on Wednesday announced its one-day and T20 squad for Australia’s tour of the island next month, but stopped short of naming a skipper. Tillakaratne Dilshan, who was named captain for the just concluded tour of England, was included in the 20-man squad scheduled to play five ODIs and […]
Sri Lanka bond pricing guidance tightened
July 20, 2011 (LBO) – Pricing guidance to fund managers on a billion dollar sovereign bond for Sri Lanka has been tightened from an initial 6.5 percent to around 6.3 percent amid strong demand, financial market sources said. Sri Lanka has reported lower inflation and high growth of around 8.0 percent and the government’s budget […]
” by Fitch
July 20, 2011 (LBO) – Fitch Ratings has assigned Sri Lanka’s forthcoming US dollar-denominated global bonds due 2021 an expected ‘BB-(exp)’ rating. “The final rating is contingent on the receipt of final documentation conforming to information already received,” it said in a statement. As the currency of settlement is specified as US dollars, the rating […]