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Standard Chartered lead sponsors Sri Lanka Investment Summit
Feb 15, 2016 (LBO) – Standard Chartered will lead sponsor the Sri Lanka Investment Summit to be held In Singapore on 15 March 2016. This inaugural event, presented by FinanceAsia, will showcase and highlight the country to potential international investors. The event will build on the successes of previous investment forums organised by FinanceAsia for […]
Sri Lanka’s Carsons Cumberbatch December net up 66-pct
Feb 12, 2016 (LBO) – Sri Lanka’s Carsons Cumberbatch group profits rose 66 percent to 1.2 billion rupees in the December 2015 quarter from a year earlier, interim accounts showed. Carsons revenues were fell 9 percent to 20.6 billion rupees, while sales costs also fell 3 percent to 15.3 billion rupees, resulting in a gross […]
Aitken Spence records Rs. 1.1bn as PBT in third quarter
Leading conglomerate Aitken Spence PLC posted its interim results to the Colombo Stock Exchange (CSE) released on Friday. The blue-chip’s financial results for the quarter ended 31st December 2015 saw profit-before-tax decrease by 25.3 per cent to Rs. 1.1 bn while profit attributable to equity holders decreased by 26.7 per cent to Rs. 637 mn. […]
SEC assigns Special Purpose Audit for Blue Diamonds
Feb 12, 2016 (LBO) – Sri Lanka’s securities regulator has assigned Ernst & Young to carry out a Special Purpose Audit to check several allegations made against Blue Diamonds Jewellery Worldwide. Releasing a statement Securities and Exchange Commission said they received several complaints alleging that the Director Board has misled their shareholders and investors through […]
Sri Lanka’s Central Bank to sell USD75mn worth development bonds
Feb 12, 2016 (LBO) – The Central Bank will issue 75 million US dollars of development bonds with a tenor of 1 Year 1 month, 2 Years 2 months and 4 Years 4 months to local and foreign investors. The Debt Department said the subscription will be at a floating rate of 6 month LIBOR […]
Laugfs acquires mini hydropower operator for Rs200mn
Feb 12, 2016 (LBO) – Sri Lanka’s Laugfs Power, a subsidiary of quoted Laugfs Gas has acquired the total issued shares of Pams Power private limited for 200 million rupees. Laugfs Gas said in a stock exchange filing that Pams Power is holding all rights for the development and operation of a 2 MW capacity […]
PTL Watch: Interest in longer-tenor Sri Lanka bonds
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‘s personal loans in 48 hours
Seylan Bank, a front runner in providing convenient customer focused products, has launched a fast-track programme for their personal loans due to the increased popularity and overwhelming response from the recipients. The product has attracted many segments in the market and the bank is all set to cater to a much larger audience in the […]
JVP askes government to tax Lanka IOC for excess profits
Feb 12, 2016 (LBO) – Sri Lanka’s Marxist Janatha Vimukthi Peramuna on Thursday called on the government to tax Lanka Indian Oil Company for excess profits the company is making. Speaking at a press briefing the General Secretary of JVP, Tilvin Silva said the Sri Lankan government is currently giving subsidies to Indian companies. “This […]
Sri Lanka’s Colombo Port records highest daily volume of 22,422 TEUs
Feb 12, 2016 (LBO) – Sri Lanka’s Ministry of Ports and Shipping said the Colombo Port recorded its highest daily handling of 22,422 TEUs on 9 February, up from 22,186 recorded on 28 April last year. Of the total 22,422 containers handled at Colombo port Tuesday, 9, 875 or 44 percent had been done at […]
Opinion: Five major economic risks to watch for this year
By Shang-Jin Wei Developing Asia is poised to grow at 6 percent this year, a slight uptick from the 5.8 percent figure in 2015, but looking ahead, five major economic risks loomon the horizon and the impact of each will be different across countries. The first is the future path of interest rates in the […]
Sri Lanka IMF issues could be worked out March or April: IMF
Feb 12, 2016 (LBO) – Sri Lanka has expressed interest in an IMF supported program as an option to address balance of payments pressures and issues could be worked out by March or early April, an IMF official said. “The authorities have expressed interested in a Fund supported program as one option to address the […]