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Finance Rating
Nov 14, 2012 (LBO) – Sri Lanka’s Fitch Ratings has confirmed an ‘A+(lka)’ rating of Central Finance Company Plc, the country’s largest finance company at the end of 2011, with a stable outlook. At end-2011, CF was the largest licensed finance company (LFC) holding 13% of LFC assets in Sri Lanka. An upgrade of CF’s […]
Tele Growth
Nov 14, 2012 (LBO) – Sri Lanka Telecom group, which owns the island’s only wireline network and also has mobile and wireless fixed services, said profits in the September 2012 quarter rose 70 percent to 1. 8 billion rupees from a year earlier. “Consistent Growth in operating profits in 2012 demonstrates our strength, resilience and […]
Sri Lanka visit by World Bank managing director
Nov 14, 2012 (LBO) – World Bank managing director Sri Mulyani Indrawati will visit Sri Lanka from November 15 to 19, to discuss the climate for private sector investment and seek ways for the to support the country further, the multilateral lender said. “Sri Lanka has made great strides in overcoming poverty as it transitions […]
Sri Lanka labour force growth is slowing: think tank
Nov 14, 2012 (LBO) – Sri Lanka’s labour force growth is slowing and the proportion of the workforce above 30 years is growing, while the proportion below 30 is shrinking, raising important policy questions, a top think has said. “There are already indications that the Sri Lankan labour force growth has slowed down,” Sri Lanka’s […]
” rating confirmed
Nov 13, 2012 (LBO) – Fitch Ratings said a ‘BBB(lka)’ rating of Senkadagala Finance has been confirmed with a stable outlook. “SFC’s rating reflects its long operating history and good credit profile which has been maintained through economic cycles, supported by sound credit controls, low refinancing risk and high profitability,” the rating agency said. “However, […]
Growth Spurt
Nov 13, 2012 (LBO) – Fitch Ratings has confirmed a ‘BB+(lka)’ rating of Trade Finance and Investment Plc (TFI), with a stable outlook, saying recent fast credit growth needs strong monitoring. “The rating factors in TFI’s strong capitalisation and profitability metrics for a small-sized registered finance company (RFC),” the agency said. “The rating is however, […]
Paradise Isle
Nov 13, 2012 (LBO) – Sri Lanka’s move to allow tax free racing cars may sound like a pacifier for the rich kids of politicians, but the move could actually be aimed at cultivating a new culture to improve farm-related transport. The 2013 budget took away the 300 percent tax on super luxury racing cars […]
Sri Lanka issues silver coin to mark relations with Japan
Nov 12, 2012 (LBO) – Sri Lanka will issue a silver commemorative coin with a face value of 1,000 rupees to mark 60 years of diplomatic relations with Japan, the Central Bank said. Minted at the Japan Mint, it has a diameter of 35 millimetres and weighs 20 grams. The obverse of the coin has […]
Steady Quarter
Nov 12, 2012 (LBO) – Sri Lanka’s NDB group profits edged 3 percent lower to 678 million rupees in the September 2012 quarter from a year earlier, with interest and staff expenses rising, interim accounts show. The group posted earnings of 4. 13 rupees per share in the quarter. In the nine months to September […]
Sri Lanka toddy tappers face extinction
WADDUWA, Sri Lanka, Nov 12, 2012 (AFP) – Clambering between high trees carrying a knife in the search for sap to brew alcoholic drinks is a young man’s game — and Sri Lanka’s ageing toddy tappers say the craft is dying. “I don’t know for how long I can continue this because it is becoming […]