All Blogs
Debt Rating
Aug 22, 2011 (LBO) – Fitch Ratings Lanka has assigned Hatton National Bank’s (HNB) proposed subordinated debentures of up to 2.0 billion rupees a national long-term rating of ‘A+(lka)’. The issue is rated one notch below HNB’s national long-term rating reflecting its debt-like features, a statement said. The proposed debentures, to be listed on the […]
High Rating
Aug 22, 2011 (LBO ) – Sri Lanka’s Commercial Bank of Ceylon has been rated ‘AA+’ by Ram Rating Lanka with a stable outlook, which the rating agency said was systemically important as the country’s largest private lender. “The ratings also reflect its strong franchise, healthy financial performance, funding, liquidity and capitalisation levels, as well […]
Sri Lanka Hilton reveals Rs10.3bn accumulated losses
Aug 22, 2011 (LBO) – Sri Lanka’s Colombo Hilton hotel has filed its first accounts in about 20 years, revealing a loss of 1. 2 billion rupees in 2010 and accumulated losses of 10.3 billion rupees and auditors expressing a qualified opinion. Hotel Developers (Lanka) which owns Hilton Colombo Hotel said the loss in the […]
Arundhati Roy warns of ultra-nationalism in Hazare
NEW DELHI, August 22, 2011 (AFP) – Indian Booker prize-winning author Arundhati Roy launched a scathing attack Monday on the “aggressive nationalism” behind the anti-corruption drive led by hunger-striking campaigner Anna Hazare. In a column entitled “I’d rather not be Anna” published in The Hindu newspaper, the novelist, essayist and rights activist condemned both the […]
Sri Lanka state carrier to double flights to China
Aug 22, 2011 (LBO) – Sri Lanka’s state-run SriLankan Airlines is doubling flights to China over the next two years and the booming sector is slated to bring up to 15 percent of the airline’s revenue, an official said. The airline now flies ten times a week to China (including Hong Kong) which will be […]
Sri Lanka Tokyo Cement in power sale deal
Aug 22, 2011 (LBO) – Sri Lanka’s Tokyo Cement Company (Lanka) has signed a deal with the state power utility, Ceylon Electricity Board, to sell electricity from a six megawatt biomass power plant it plans to build. Net annual electricity generation from the plant would be around 37, 230 mega watt hours which will be […]
” tour draws adventure tourists
Aug 21, 2011 (LBO) – Adventurous travelers from Australia to Austria have set off on a three-wheeler drive from Sri Lanka’s international airport to the far corners of he country, braving unknown challenges. Travelling on a ‘tuk tuk’ or a trishaw, as the popular three-wheeled taxis are known in Sri Lanka, is an adventure even […]
Sri Lanka Asia Capital to invest in hotels
Aug 20, 2011 (LBO) – Sri Lanka’s listed Asia Capital, which has interests in financial services, leisure, will invest 700 million rupees in hotels and plans to take two operating units public in the next two years, an official said. Asia Capital got 3.3 billion rupees after selling out of Asian Alliance Insurance. “We sold […]
Arrest
August 20, 2011 (AFP) – Sri Lankan police on Saturday arrested a top Buddhist monk on a charge of having sex with a 12-year-old girl in violation of strict child protection laws, police said. The 60-year-old monk was accused of abusing the child over a period of one year at his temple in the north-central […]
Foreign Killing
August 19, 2011 (AFP) – Sri Lanka’s High Court Friday handed five Chinese nationals the death penalty for murdering a compatriot at a restaurant near the capital over eight years ago, a court official said. A Chinese woman and two Chinese men were in court Friday to hear the sentence while judges issued a warrant […]