Tag: businessnews
Lanka Rating Agency Restrained By SEC from providing new ratings
June 4, 2015 (LBO) -The Securities & Exchange Commission of Sri Lanka (SEC) has taken steps to restrain Lanka Rating Agency Ltd from providing new ratings with effect from 25th March 2015 until the company complies with regulatory requirements imposed by the Commission, the security watch dog said in a statement today. “The Commission took […]
Sri Lanka’s T-bill yields close flat on Wednesday
June 3, 2015 (LBO) – Sri Lanka’s Treasury bill yields close flat at Wednesday’s auction with 3-months yield unchanged at 6.07 percent while 6-month yields also were flat at 6.18 percent, data from the state debt office showed.It was decided to accept 6,632 million rupees from the auction of 03 month yields from received 19,629 […]
Ceylon Cold Stores Says Health Concerns May Impact Carbonated Soft Drink Market
June 3, 2015 (LBO) – Sri Lanka’s Ceylon Cold Stores says that the growth potential for carbonated soft drinks may be limited due to growing health concerns of consumers, even though there has been an increase in disposable income.“I am confident that the increase in disposable income witnessed in the last quarter will act as […]
Sri Lanka needs out of the box thinking to face airline industry challenges: SriLankan CEO
June 3, 2015 (LBO) – Sri Lanka’s state run airline needs to think out of the box to keep up with rapidly changing industry trends, the new Chief Executive of the national carrier, SriLankan Airlines said.“Discerning customer expectations have started revolving around the unique and innovative airline and aviation related products that service-providers have to […]
Sri Lanka’s Finance Minister ready to debate with former Finance Minister, Rajapaksa
June 3, 2015 (LBO) – Sri Lanka new administration’s Finance Minister Ravi Karunanayake said that he is ready to participate in a public debate on the country’s current economic situation. Issuing a Statement Tuesday (02), Karunanayake said that it is better if former President Mahinda Rajapaksa can participate for the debate since he was the […]
Sri Lanka asked exporters, expats to bring dollars back to the Island: Promised a higher interest rate
June 01, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake urged all Sri Lankan exporters and expatriates to bring their money back to the country and promised the government will pay a higher interest rate, above the foreign banking and financial institutions.“We will not have to go after foreign Bond issues if these funds […]
Sri Lanka Treasury bill yields dropped: Central Bank
May 27, 2015 (LBO) – Sri Lanka’s Treasury bill yields were down at Wednesday’s auction with 3-months yield dropping 01 basis points to 6.07 percent and 6-month yields also dropping 01 basis points, to 6.18 percent, data from the state debt office showed.It was decided to accept 10,102 million rupees from the auction of 03 […]
Sri Lanka’s business chamber calls for early election, says overseas business community is concerned
Mar 26,2015 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce said, that the government should calls for early parliamentary election without a delay , so that policies can be formulated and implemented to kick-start the economy and exploit its true potential. “We once again reiterate the need for conducting parliamentary elections without delay,” the chamber […]
Shangri-La launches 500mn US dollar luxury apartments and office complex project in Colombo
May 22, 2015 (LBO) – Hong Kong based Shangri La Hotels and Resorts, a property developer and hotel group launches 500 million US dollars of exclusive residences, office and retail project in Galle Face, Colombo targeting at foreign investors, expatriates and an expanding class of influential Sri Lankans. The residences component will have 406 apartments […]
Sri Lanka’s private sector credit to grow further: Monetary Policy Review – May 2015
May 22, 2015 (LBO) – Sri Lanka’s Central Bank said, that private sector credit would expand in the period ahead given the low interest rate regime. Accordingly, credit obtained by the private sector from commercial banks increased by 13.9 per cent in March 2015 on a year-on-year basis, the regulator said in its monetary policy […]
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May 22, 2015 (LBO) – Sri Lanka’s Fitch Ratings Lanka has assigned National Development Bank PLC’s proposed subordinated debentures of up to 10 billion rupees, an expected National Long-Term Rating of ‘A+(lka)(EXP)’. The rating agency also has withdrawn the expected rating of ‘AA-(lka)(EXP)’ assigned to NDB’s proposed senior debentures. Media release reproduced below: – The […]