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Finance Rating
Sept 10, 2007 (LBO) – Lanka Rating Agency (LRA) has lowered the outlook of Ceylinco Investments and Realty’s (CIR) long-term BB1 rating from stable to negative. . “The ratings reflect the Company’s weakening asset quality, frail financial performance and low capitalization,” LRA said. “The negative outlook is premised on LRA’s concerns about the escalating interest-rate-environment, […]
Support Rating
Sept 10, 2007 (LBO) – Fitch Ratings Lanka has confirmed DFCC Vardhana Bank Limited’s (DVB) National Long-term rating at ‘AA-(lka)’ with a stable outlook.“The principal factor supporting DVB’s rating is the strong implied support assumed to be available from its parent DFCC Bank,” Fitch Rating said. “DVB is envisaged to play an important strategic role […]
Sri Lanka shares close lower
Sept 10, 2007 (LBO) – The Sri Lanka shares closed lower Monday after rising at the opening with interest in John Keells Holdings helping to improve turnover. The market turnover was over 375 million rupees while the All Share Index closed two points lower at 2,544.24. The Milanka Index closed down 2.65 points at 3,458.77. […]
Contempt Order
Sept 10, 2007 (LBO) – The head of Sri Lanka’s consumer authority has been ordered to resign by the Supreme Court over the implementation of a previous order on cooking gas pricing. . Updated Consumer Authority Chairman Sarath Wijesinghe was told he was not fit to take up any government post, an official said. Witnesses […]
Prison Life
Sept 10, 2007 (LBO) – A Sri Lankan teenager Rizana Nafeek who is on death row is being treated well by her jailors and was hoping an appeal of her sentence will succeed, media reports said. Sometimes prisoners are kept on death row for years, before suddenly being taken and beheaded. “Rizana was so confident […]
Central bankers warn sub-prime crisis could hit whole US economy
BASEL, Switzerland, Sept 10, 2007 (AFP) – The crisis in the US housing market risks spreading to the whole of the nation’s economy, European Central Bank chief Jean-Claude Trichet said Monday on behalf of world central bankers.Trichet was speaking in his capacity as head of the G10 group of central bankers from industrialised and emerging […]
‘s economy shrinks, adding to global concerns
TOKYO, Sept 10, 2007 (AFP) – Japan’s economy contracted in the second quarter of 2007 as firms cut spending on new factories and equipment, the government said Monday, adding to jitters over the global economic climate. Past GDP estimates were also revised, showing the economy shrank by 0.1 percent in the third quarter of 2006, […]
WHO says time to get tough with tobacco giants
JEJU ISLAND, South Korea, Sept 10, 2007 (AFP) – A top World Health Organisation official on Monday urged the world to get tough with tobacco companies, saying smoking deaths are an international scandal. “The deaths and misery caused by smoking continue to be one of the greatest scandals of our time,” said Shigeru Omi, WHO […]
Oil price danger looms over OPEC meeting
VIENNA, Sept 10, 2007 (AFP) – OPEC oil ministers arrive in Vienna on Monday, under pressure to help combat high crude prices, which have surged to near-record highs and loom as a new risk for the global economy.The outcome is uncertain of a formal meeting on Tuesday, when the group will decide whether to raise […]
Swann and Wright selected for Sri Lanka one-day series
LONDON, Sept 10, 2007 (AFP) – England have selected off-spinner Graeme Swann and all-rounder Luke Wright for their forthcoming one-day international tour of Sri Lanka.Paul Collingwood (Durham, capt), James Anderson (Lancashire), Ian Bell (Warwickshire), Ravi Bopara (Essex), Stuart Broad (Leicestershire), Alastair Cook (Essex), Andrew Flintoff (Lancashire), Dimitri Mascarenhas (Hampshire), Monty Panesar (Northamptonshire), Kevin Pietersen (Hampshire), […]