Latest News
Fitch Affirms Hatton National Bank at 'AA-(lka)'May 21, 2013 (LBT) - Fitch Ratings has affirmed Hatton National Bank PLC's (HNB) National Long-term rating at 'AA-(lka)'. The Outlook is Stable. The agency also affirmed HNB's outstanding subordinated redeemable debentures of LKR6bn at 'A+(lka)'.Rating Action RationaleHNB's ratings reflect its strong domestic franchise in lending and deposit mobilisation as ... Read more Evaluations | Hits: 14 | Comments |
14th Sri Lanka Economic Summit from July 9 - 11May 21, 2013 (LBT) - The Sri Lanka Economic Summit 2013, the flagship event of the Ceylon Chamber of Commerce will be held on July 9, 10 and 11, 2013 at the Cinnamon Grand, Colombo under the theme 'Re-Balancing the Economy'. The event brings together the best of Corporate Sri Lanka ... Read more |
Mercantile Investments to sell Rs. 1 billion bondsMay 21, 2013 (LBT) - Sri Lanka's Mercantile Investments and Finance Plc (MIF) plans to sell one billion rupees in senior unsecured debt which has been rated 'BBB+' by RAM Ratings Lanka. "The ratings are upheld by MIF’s good capitalisation levels," the rating agency said in a statement. They are, ... Read more |
Hayleys group profits up 267% to Rs. 496 millionMay 21, 2013 (LBT) - Profits at Hayleys group rose 267 percent to Rs. 497 million in the March 2013 quarter from a year earlier.The group, which has interests in export manufacturing, domestic production and leisure, reported earnings of Rs. 6.54 for the quarter, in accounts complying with international financial ... Read more |
Lanka IOC profits rise to Rs. 805 millionMay 21, 2013 (LBT) - Lanka IOC profits rose to Rs. 805 million in the year to March 2013 from Rs. 42 million a year earlier, helped by the absence of forex losses, interim accounts indicates.The company, a unit of the Indian Oil Corporation that sells petrol, diesel, lubricants and ... Read more |
Freight Management An Essential Tool For Market EconomyMay 20, 2013 (LBT) - Working in the market economy is a challenging proposition for manufacturers and traders. The market economy is of course a valuable tool to compete globally and to organise productive activity to service a market driven global consumer society.In the above context, both buyers and the ... Read more |
HDFC Bank profit after tax Rs. 38.4 millionMay 20, 2013 (LBT) - Housing Development Finance Corporation Bank of Sri Lanka (HDFC Bank) has registered an after tax profit (PAT) of Rs 38.4 million for the 1Q ending 31 March 2013 as against Rs 4.9 million during the corresponding period in the year 2012. The operating profit before ... Read more |
Prime Grameen to expand into former war zonesMay 20, 2013 (LBT) - Helped by expansions into former war zones in Sri Lanka's East, the Prime Grameen Micro Finance Limited plans to increase the number of its customers to 200,000 from 125,000 in 2013.According to Prime Grameen chairman B. Premalal, the bank will open six new branches in ... Read more |
Vehicle registrations pick up in AprilMay 20, 2013 (LBT) – There was a marginal increase in motor vehicle registrations in April. However, it still remaining far below levels seen after taxes were hiked last year, an analysis by JB Sockbrokers shows.Motor vehicle registrations went up to 1,974 in April 2013, from 1,589 in March, the ... Read more |
'Hybrid Homes', latest trend in modular housingMay 19, 2013 (LBT) - Converting a shipping container into a Hybrid House is becoming one of the latest trends in modular housing in Sri Lanka. While Hybrid Homes are environmentally sustainable and ideal for green living, the designs and floor plans are incredibly creative and are considered attractive and ... Read more |
Fitch rates SL Insurance Corp with Stable OutlookMay 19, 2013 (LBT) – Fitch Ratings Lanka has published Sri Lanka Insurance Corporation Limited's (SLIC) Insurer Financial Strength rating (IFS) at 'BB-' with a Stable Outlook. The agency has also affirmed the National Insurer Financial Strength Rating and National Long-Term rating at 'AA(lka)' with a Stable Outlook. Key Rating ... Read more Evaluations | Hits: 78 | Comments |
US$ 3 billion from tourism by 2016May 19, 2013 (LBT) – Four years after the 30-year conflict, Sri Lanka is reaping the benefits of the hospitality industry and plans to earn an annual income of 3 billion US dollars by 2016.Tourism has become one of Sri Lanka’s biggest foreign exchange-earners with average annual revenue of US$ ... Read more |
Abans 100-million-dollar Lifestyle Mall at Beira LakeMay 19, 2013 (LBT) – The construction of a 100-million-dollar five star super mall by Abans Group, in collaboration with Singapore-based SilverNeedle Hospitality, will begin early next year and the project is expected to be completed by 2016. Abans signed the agreement with AEDAS, internationally reputed award winning architects to ... Read more |
Singer: Negative impact due to drought, tariff hikeMay 18, 2013 (LBT) - The effects of last year’s drought, coupled with consumer fears of an increase in electricity tariffs, had a negative impact on the overall business environment, leading to almost flat revenue growth in the first quarter.The first quarter saw the Company’s gross sales revenue increase by ... Read more Evaluations | Hits: 113 | Comments |
HNB Assurance: 66% PAT growth in first quarterMay 18, 2013 (LBT) - HNB Assurance PLC has reported an impressive 66% growth in its Profit After Tax during the three months ended March 31, 2013 according to the interim results released to the Colombo Stock Exchange. Its Profit After Tax for the quarter recorded Rs. 50.1 million while ... Read more Evaluations | Hits: 122 | Comments |
IFC helps banks strengthen trade finance expertiseMay 18, 2013 (LBT) - International Finance Corporation (IFC), a member of the World Bank Group, hosted an advanced trade finance seminar in Colombo last week to train bankers from Sri Lanka and Maldives on using sophisticated trade finance products, to better serve small entrepreneurs engaged in international trade. The ... Read more |
Fitch Affirms HSBC SL Branch at 'AAA(lka)'May 17, 2013 (LBT) - Fitch Ratings Lanka has affirmed HSBC Sri Lanka Branch's (HSBCSL) National Long-Term Rating at 'AAA(lka)'. The Outlook is Stable.Key Rating DriversThe affirmation of HSBCSL's rating follows the affirmation of its parent The Hongkong and Shanghai Banking Corporation Limited's (HKSB) Issuer Default Rating (IDR) at 'AA' ... Read more Evaluations | Hits: 161 | Comments |
Amãna Takaful sustains profit momentum into 2013May 17, 2013 (LBT) - Composite insurer Amãna Takaful PLC (ATPLC) posted modest growth in all aspects of the business in Q1 2013. Releasing their interim results, the company reported that consolidated Revenue of Rs. 463.4 million grew by 15% over Q1/2012 with profit before tax of Rs. 22.9 million, ... Read more |
Union Bank partners GIZ to assist SME developmentMay 17, 2013 (LBT) - Union Bank of Colombo PLC (UBC) and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH (formally known as the GTZ) entered into a partnership to improve access to finance for Small and Medium Enterprise (SME) customers under GIZ’s SME Development Programme. An agreement between Union Bank ... Read more |
Stronger presence of DFCC Vardhana Bank in EastMay 17, 2013 (LBT) - DFCC Vardhana Bank (DVB), one of Sri Lanka’s leading retail banks, recently expanded its network across the country by opening two more new fully fledged branches in the East. Adding to the development of the area, DVB opened branches in Oddamawadi and Akkaraipattu enabling the ... Read more |
- 0
- 1
- 2
Stock Market showing signs of recoveryMay 4, 2013 (LBT) - After the phenomenal decline of the All Share Index (ASI) almost more than 35 percent from its peak to a low of 4,800 in July 2012, the stock market now gradually showing signs of recovery after almost 2 years of bear run which wiped out many investors irrespective of their wealth or connections. Investors are now beginning to realize that market decline is a natural phenomena but was an opportune moment to enter the market and thus far the quickest way to make more than average gains, top stock market analyst said. “The market enjoyed peace dividends and then a substantial decline due to global and macro economic factors. This is a natural phenomena which every ... Read more Expert Advice | Hits: 375 | Comments |
We cannot live beyond our means foreverR.M.B Senanayake Jan 23, 2013 (LBT) - As a nation we have been living beyond our means by funding a welfare state with free education and free health care and numerous subsidies, on borrowed money including money borrowed from the banking system which is the equivalent of printing money. Stable money is essential for sustainable growth and stable money means inflation must be brought down. True that prices increases because of both demand and supply side factors. If prices of imported food go up the domestic prices will increase. If oil price goes up the prices of all domestically consumed goods go up because transport costs go up. If the Rupee depreciates prices of imported goods will rise. But inflation by ... Read more |
Are we really poor or rich?R.M.B SenanayakeJan 16, 2013 (LBT) - The World Bank in the 1990s published figures of poverty and considered that US$ 1 per day was the absolute minimum required to provide the minimum nutritional requirement of 2000-2200 calories for a person. Later the World Bank in early 2000 updated it to be US$ 1.25 per capita to allow for price increases. Some think it should be US$1.50 today. What is poverty and who are the poor: The Household Income and Expenditure Survey carried out by the Department of Census & Statistics is the source of our data about poverty. This poverty data is updated every 3 years after each such Survey. The latest was in 20009/2010. It uses the concept of poverty as ... Read more |
Bourse gains with big caps in the greenMay 16, 2013 Index jumps 66 points: The Colombo stocks saw a continuous uptrend today driven by the large cap counters regaining institutional, high net worth and foreign interest. The surge in the index was heavily weighted upon John Keells Holdings, Ceylon Tobacco Company, Lanka Orix Leasing, Commercial Bank and Hatton National Bank. 146 counters contributed positively for the index as against 65 that contributed negatively. The gain S&P SL20 index was just under 1.0% while turnover for the day rushed to LKR1.8bnAitken Spence led the crossings board: Aitken Spence, conglomerate with heavy exposure to the leisure sector recorded 2 large crossings accounting for 7.1mn shares dealt at LKR132.6. The transactions contributed 50% to the day’s turnover. During the same ... Read more |
Aupward climb in ASPI amidst crossings adding 54% to turnoverMay 15, 2013 (LBT) - Bourse reverts back to the green: The benchmark index moved on a volatile note with renewed buying interest leading to a gain of 14 points at 6,221.12 points. BFI sector and Diversified sectors continued dominancy, adding 62% to the turnover. Gains denoted in heavy weights; Nestle Lanka (+1.8%), Carsons Cumberbatch (+1.4%), Hatton National Bank (+1.8%) and John Keells Holdings (+0.4%) supported the uptrend of the index while marginal dips in banking players in the S&P SL20 calibre led the index to close marginally down at 3,498.34 points.15 crossings added 54% to the turnover spearheaded by John Keells Holdings: John Keells Holdings continued to lead the turnover supporAted by 7 off-board deals which carried 1.25 mn ... Read more |
Bourse on profit takingMay 14, 2013 (LBT) - Bourse edge lower: The benchmark index stayed stagnant for the first half of the day, but was unable to sustain the level with selling pressure bringing down the index by 32 points. With strong buying interest in the previous week the index gained over 200 points resulting in the current profit taking. 72 counters gained for the day compared to 143 that dipped. Ceylinco Insurance, Cargills, Richard Peiris & Company and Commercial Bank were heavy weights leading the decline of the index.John Keells Holdings leads the turnover list: John Keells Holdings was identified as the top performer for the day amidst healthy buying interest taking counter passed the previous 52-week high to LKR274.0 while settling ... Read more |
| Views & Reviews, Analysis, Evaluations, Discussions, Gossip and Hot Tips relating to Sri Lankan companies listed on the Colombo Stock Exchange (CSE) |
|
Sports
Bayern Munich victory over Barcelona at the Nou CampMay 02, 2013 (LBT) - Bayern Munich pulled off a stunning 3-0 victory over Barcelona at the Nou Camp to complete a record Champions League semi-final aggregate win. Arjen Robben ... Read more |
Nishantha appointed Secretary without ‘batting’Mar 02, 2013 (LBT) - The Secretary of Sri Lanka Cricket, Nishantha Ranatunga has been reelected for the post without a contest. Nishantha, a brother of former World Cup winning Sri La... Read more |
Sri Lanka undone by inconsistencySri Lanka coach Graham Ford said his side had positives to take from a 3-0 drubbing in Australia, but had ultimately been undone by inconsistency, after Australia completed the whitewash with a ... Read more |
Politics
Some relief after the electric 'shock'May 02, 2013 (LBT) - President Mahinda Rajapaksa, addressing the May Day rally of the ruling UPFA today, said that electricity tariff for those using up to 60 units will ... Read more |
5,500 street lamps to be lit with renewable energyApr 29, 2013 (LBT) - A system of street lamps operated by renewable energy will come into operation on June 5 in Sri Lanka to coincide with the World Environment ... Read more |
First safari park to be ready by OctoberApr 29, 2013 (LBT) - Sri Lanka’s first Safari Park is coming up at Ridiyagama in Hambantota. Plans are afoot to complete the work and vest it with the public ... Read more |
World News
Google: Eric Schmidt defends company's tax affairsMay 20, 2013 (LBT) - Google's executive chairman Eric Schmidt has defended the company's tax affairs after it came in for heavy criticism this week.Mr Schmidt said Google "has always ... Read more |
Treasury claims banks 'safer in UK'May 20, 2013 (LBT) - The latest UK government paper on the impact of Scottish independence will claim the UK is better placed to manage the risk of a financial ... Read more |
Eurozone and US inflation fallsMay 17, 2013 (LBT) - Inflation in both the 17-strong eurozone bloc and the US has fallen to its lowest level in years.The eurozone figure, for April fell to 1.2% ... Read more |