Category:
Comfort Zone
Seylan Bank has secured an A-(sri) national rating for its long-term senior debt from Fitch Ratings Lanka.At the sametime, Fitch has also given Seylans outstanding subordinate debentures a BBB+ (sri) rating.rn rnIn term of priority, deposit holders and senior debt obligations are ranked higher than subordinated debentures. Though debenture holders rank above preference and ordinary […]
Drinking Poison
As traditional farming methods are lost to chemical fertilizer dumping in Sri Lanka, its people are paying with their lives. Over use of chemical fertilizer and pesticide is poisoning the waterbed.LBO goes on a field trip to the Kalpitiya Peninsula which houses Sri Lankas largest shallow water reserve.Forty-three year old J Sundaralingam, a cabbage farmer […]
Open Minds
Human resource (HR) personnel need to come out of the box and integrate more to improve corporate performance, says three of Sri Lankas leading businessmen. The CEOs were addressing HR personnel at the National HR Conference organised by the Institute of Personnel Management (IPM).rn rnThe CEO Forum comprising Hill, Omar and Amarasuriya agrees that HR […]
Bond 002
After a two-year hiatus, the government is tapping the international debt market to raise US$ 250 mn, to bridge the budget deficit.The Sri Lanka Development Bond issue will once again hit the limelight in July when the Central Bank re-issues US$ 91.5 mn worth of paper and US$ 158.5 mn in new issues.rn rnldblquote The […]
Flat
Treasury Bill rates remained flat at Wednesdays auction due to excess liquidity in the money market and a steady outlook for short-term interest rates.The Central Bank offered and accepted bids for Rs.8,238 mn, though the auction was oversubscribed with Rs.16,808 mn worth of offers.rn rnTreasury rates for three, six, and one-year remained flat at 7.79 […]
Very Bad
Central Bank on Wednesday issued a fresh warning against unauthorised deposit taking, as the public continued to chase after higher return for their savings. The top financial sector governing body says some firms are operating regardless of the Banks instructions to stop the illegal practice and continued to offer high interest rates to attract unassuming […]
New Feather
Sri Lanka has been selected to the 34 member Inter-governmental Group of Experts on International Standards of Accounting & Reporting (ISAR) at a recent UN session.ISAR was created by the Economic & Social Council of the United Nations in 1982, and is serviced by UNCTAD.rn rnIt is the only inter-governmental working group devoted to accounting […]
Cooling Summer
The Connaissance Group is to make the best of the hot weather, enticing outbound Indian travellers with a summer promotion at its hotels.The Group is targeting a 5 mn strong Indian outbound market to fill up hotels in an ordinarily slow season, where occupancies hover around 45-50 percent.rn rnrnrnldblquote Outbound travel from India in the […]
Fine Cuppa
Russia is sipping more fine teas as the influence of rising average income increases average spending above US$ 5 per kilo in the wholesale markets.The switch to premium quality beverages is taking hold across Russia along with the rising purchasing power of Russian consumers. Trade sources say sales of hot drinks increased by 3.6% in […]
Peace Please
Sri Lanka needs to return to the negotiating table with the LTTE to untangle US$ 4.5 billion in international aid, but talks with the Tamil rebel faction still seem distant.After a four-day situation analysis, Japans Special Envoy to the Sri Lankan Peace Process left it open for the government and the LTTE to set a […]
Talent Spotting
Venture capitalist, Aureos Lanka Advisers, has launched a US$ 10 mn fund to invest in ongoing projects in Sri Lanka and Bangladesh.Formerly known as Ajoyana Fund Management, Aureos plans to invest between US$ 500,000 to US$ 3 mn in a wide array of business activities, the firm said in a statement Tuesday.rn rnThe Fund is […]
City Life
Chinese millionaire Tao Shing Pee is 88, but his more than half-a-life-time love affair in tropical Sri Lanka is still going strong endash in fact Tao is willing to lavish more money and attention than ever on his tropical love.rnrn On Tuesday, Tao, know in Sri Lanka for developing rnColombos landmark building – the World […]