All Blogs
”’ rating confirmed: Fitch
Mar 28, 2013 (LBO) – Sri Lanka’s state-run Bank of Ceylon had high exposure to the state enterprise with Ceylon Petroleum Corporation making up 20 percent, though some of the loans were guaranteed, Fitch Ratings said. Bank of Ceylon’s capitalization has weakened with dividend payouts by dividend payouts, and high loan growth. “While slowing loan […]
‘s Bank of Ceylon to sell up to US$500mn in bonds
Mar 28, 2013 (LBO) – Sri Lanka’s state-run Bank of Ceylon would sell plans to sell between 300 to 500 million US dollars of bonds in the international market, a media report said. Bloomberg newswires said UBS has been hired to manage the sale. Fitch Rating has given a BB- expected rating to the securities […]
Urban Transit
Mar 28, 2013 (LBO) – A bus rapid transit (BRT) solution could be implemented faster and at a much lower cost to prevent gridlock in Sri Lanka’s capital Colombo, while a more expensive rail based Metro system is built, , officials said. The state has been investing heavily in transport in recent years, but mostly […]
Shared Resources
Mar 28, 2013 (LBO) – Sri Lanka is allowing spectrum sharing and domestic roaming to promote shared resources and cut costs so that broadband tariffs can be kept low, the telecom regulator said. “We are allowing spectrum sharing,” director general of the telecommunications regulatory commission of Sri Lanka (TRCSL) Anusha Pelpita said. “We will not […]
Spectrum Auction
Mar 28, 2013 (LBO) – Sri Lanka’s Dialog Axiata has paid 3.2 billion rupees to buy a 10Mega Hertz block of spectrum in the 1,800MHz band which can be used for fourth generation high speed mobile broadband, telecom regulator Anusha Pelpita said. Mobitel and Etisalat had also participated in the spectrum auction by Sri Lanka […]
Sri Lanka Mattala airport in bird strike
Mar 28, 2013 (LBO) – A state-run SriLankan Airlines flight has suffered a bird strike at Sri Lanka’s second international airport in Mattala after it opened, a media report said.The birds start arriving from around August during the northern hemisphere winter and leave in March and April. “Even near BIA there are two or three […]
‘s Arif Habib group keen to expand in Sri Lanka: official
Mar 28, 2013 (LBO) – Pakistan’s Arif Habib group which has a stock brokering unit in Sri Lanka is planning to expand into commodities and trade consultancy which can boost bi-lateral trade, an official said.The group has put an application to start a physical wholesale commodity business and bring in one million US dollars. “We […]
‘s inflation eases to 7.5-pct in March
Mar 28, 2013 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 7.5 percent in March 2013 from a year earlier, down from 9.8 percent in February, data from the state statistics office said. The non-food sub-index rose 3.5 percent from a year earlier. The index grew 0.3 percent in the month. The price […]
‘s Softlogic to sell Rs750mn in bonds
Mar 27, 2013 (LBO) – Sri Lanka’s Softlogic group is to sell up to 750 million rupees in three year fixed rate debentures, which will be used to re-finance short term debt, Fitch Ratings said. Fitch has given the debentures an ‘A-l(ka)(EXP)’ rating pending final documentations. Softlogic itself has been given an ‘A-(lka)’ rating. Fitch […]
Finance Debentures
Mar 27, 2013 (LBO) – Sri Lanka’s Central Finance Plc, a registered finance company will sell 2.0 billion rupees in fixed rate debentures, Fitch Ratings said. Key Rating Drivers CF’s ratings factor in its strong franchise and capitalisation, supported by robust profitability and its 55-year operating history. CF is one of the largest licensed finance […]