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Top Dog
Jan 09, 2007 (LBO) – NDB Investment Bank (NDBIB) said it had helped mobilize 30 billion rupees in debt and equity from Sri Lanka’s capital markets in 2007 through some of the largest deals in the financial history of the island. NDBIB says it had been mandated by several firms to take them public. NDB […]
Sukuk Securities
Jan 09, 2008 (LBO) – Sri Lanka’s Peoples’ Leasing Company (PLC), the island’s top vehicle financier, plans to raise more than 500 million rupees through Shariah compliant asset-backed securities, officials said. “There is tremendous potential for this type of product,” says People’s Leasing chief D P Kumarage. “We have been involved in Shariah compliant products […]
Retailer Rating
Jan 09, 2008 (LBO) – Rating agency Fitch assigned ‘A (lka)’ long term rating to Abans Private Limited in Sri Lanka with a stable outlook, the agency said Wednesday. Abans, owned by the Pestonjee family, has not put forward a clear succession plan nor introduced independent directors to its board, the ratings agency says. The […]
Cyber Trade
Jan 09, 2007 (LBO) – The Ceylon Chamber of Commerce ‘Trade Point’ electronic commerce gateway has been activated, enabling Sri Lankan small businesses to better access global trade opportunities, the chamber said Wednesday. The chamber was granted operational status as a fully operational trade point and the right to operate as a member of the […]
Forestry Tourism
Jan 09, 2008 (LBO) – A Sri Lankan leisure group is involving tourists in a reforestation project as the country’s main tourism promotion body attempts to position the island as an eco-friendly green destination. The Jetwing group says its ‘Eternal Earth’ project which was kicked off this week at their Hunas Falls Hotel nestled adjacent […]
Sri Lankan Airlines in transitional management deal with Emirates
Jan 09, 2007 (LBO) – Sri Lanka was working on a transitional management structure with Emirates for national carrier Sri Lankan Airlines after the Middle Eastern airline decided not to renew its management deal, a senior government official said Wednesday. But the government had not yet decided to buy back the Middle Eastern airline’s 43.6 […]
Sri Lanka gets World Bank push for renewable power
Jan 09, 2008 (LBO) – A new credit line from the World Bank inked Wednesday will help build 50 mega watts of power in rural Sri Lanka, helping light up 60,000 rural homes, officials said. The money would be lent through the DFCC Bank for off-grid renewable energy projects. The World Bank is giving 40 […]
Five held over attempt to kill Maldives president: police
COLOMBO, Jan 9, 2008 (AFP) – Police in the Maldives said Wednesday they arrested four more people in connection with an unsuccessful attempt to kill the Indian Ocean archipelago’s president. Maumoon Abdul Gayoom, who has ruled Maldives with an iron fist since 1978, escaped assassination while touring the atoll’s northern islands on Tuesday thanks to […]
World to grow by 3.3-pct, Asia 9.6-pct in 2008: World Bank
WASHINGTON, Jan 8, 2008 (AFP) – The global economy is expected to slow to a modest 3.3 percent growth pace this year, but the pace could worsen if the United States slips into recession, the World Bank said Tuesday. Despite financial turmoil unleashed by a meltdown in the US mortgage market, global growth slowed in […]
New Zealand judge to chair cricketer Singh appeal
DUBAI, Jan 9, 2008 (AFP) – New Zealand judge John Hansen has been appointed as commissioner for the appeal of Indian spinner Harbhajan Singh against the finding that he made racist comments during the second Test against Australia.In the meantime, Harbhajan may continue to play pending the verdcit of the appeal being given.The BCCI announced […]