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” by Fitch
July 20, 2011 (LBO) – Fitch Ratings has assigned Sri Lanka’s forthcoming US dollar-denominated global bonds due 2021 an expected ‘BB-(exp)’ rating. “The final rating is contingent on the receipt of final documentation conforming to information already received,” it said in a statement. As the currency of settlement is specified as US dollars, the rating […]
Sri Lanka Treasuries yields flat
July 20, 2011 (LBO) – Yields on Sri Lankan Treasury bills stayed steady at this week’s auction, the government debt office, which is a unit of the central bank, said. The three-month yield was 7.11 percent, six-months 7.19 percent and the 12-month yield 7. 25 percent, all unchanged from the previous week. The debt office […]
Sri Lanka launches billion dollar sovereign bond
July 20, 2011 (LBO) – Sri Lanka has launched a sovereign bond to raise a billion dollars from global capital markets, with a ‘book building’ process starting with Asian fund managers, financial sources said. The process of ‘book building’ or taking orders from fund managers starts as Asian markets open and moves to Europe as […]
Sri Lanka stocks up 0.1-pct
July 20, 2011 (LBO) – Sri Lanka share prices closed mixed with the main index up just 0.10 percent after a roller-coaster ride that saw it briefly in negative territory and some interest in the hotel sector, brokers said The main All Share Price Index closed at 6,682.46, up 0.10 percent (6.76 points) while the […]
Rail Move
July 20, 2011 (LBO) – Sri Lanka has revived cargo transport into Colombo port by rail after a lapse of four decades with a shipment of export containers by SG Logistics, part of the newly listed Expolanka Holdings group. Niroza Gazzali, chief executive of SG Logistics, said they were working closely with Sri Lanka Railway […]
Higher Grade
July 20, 2011 (LBO) – Fitch Ratings has upgraded Sri Lanka Telecom’s (SLT) long-term foreign currency rating to ‘BB-‘ from ‘B+ with a stable outlook. At the same time, Fitch confirmed its long-term local currency rating at ‘BB-‘ and national long-term rating at ‘AAA(lka)’. The action follows Fitch’s upgrade of Sri Lanka’s sovereign long-term foreign […]
SriLankan Airlines to link eastern resorts by floatplane
July 20, 2011 (LBO) – SriLankan Airlines plans to extend its floatplane services to the island’s east coast where new resorts are being developed as a tourism boom continues after the end of a war. The national airline’s subsidiary, SriLankan Air Taxi, will also spread its wings to destinations in the north, which like the […]
Sri Lanka Brandix gets latest energy management standard
July 20, 2011 (LBO) – Sri Lankan apparel exporter Brandix has got latest global energy management certification less than a month after its release which it said would give the firm a competitive edge as an eco-friendly manufacturer. The Brandix Group claimed it has become the first apparel manufacturer in the world to receive ISO […]
Sri Lanka peace dividend in low rates, higher capex: Treasury Secy
July 20, 2011 (LBO) – Sri Lanka is seeing a peace dividend in the form of lower interest rates, taxes, inflation and higher capital expenditure after a 30-year war ended, Treasury secretary P B Jayasundera said. He said defence expenditure which was about 5.0 percent of gross domestic product during the war years, has now […]
Sri Lanka ratings lifted amid global turmoil
July 19, 2011 (LBO) – Sri Lanka’s central bank, which manages the government’s debt welcomed an underlying sovereign rating and an outlook upgrade from two international agencies, at a time when bond markets in the US and Europe are in turmoil. Sri Lanka has already started a series of meetings or ‘investor updates’ with bond […]