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Price Signal
December, 06 (LBO) – Sri Lanka’s treasury bill rates moved up by an average of 19 basis points at this Wednesday’s auction on the back of a similar hike last week, in what analysts view as a steady response by the Central Bank to tighten monetary policy and curb demand pressure. However the Central Bank […]
Shoe Bonds
Dec 06 (LBO) – A holding company that controls Sri Lanka’s largest footwear maker DSI, is to issue a 300 million rupee debenture which has been rated BBB+ (lka), Fitch Ratings Lanka said Wednesday. Fitch says the company DSI Holdings which also has a national long term rating of BBB+ may increase the size of […]
World economy on track for strong 2007
PARIS, Dec 6, 2006 (AFP) – Slowing activity in the US economy and a possible sudden cooling of overheated property markets are the main threats to the world economy in 2007 after vigorous recovery this year. The International Monetary Fund said Tuesday it was lowering its growth estimate for next year from its current prediction […]
Sri Lanka invokes anti-terror laws, but seeks talks with Tigers
COLOMBO, Dec 6, 2006 (AFP) – Sri Lanka Wednesday invoked tough anti-terror laws targeting the Tamil Tigers, but said it was not banning the rebels and asked peacebroker Norway to help bring them back to the negotiating table. The new regulations declared by President Mahinda Rajapakse did not directly name the Tamil Tigers and left […]
Even Keel
December 5, 2006 (LBO) – Dialog Telekom, the island’s biggest mobile phone operator, retained its AAA (lka) rating, but subscriber growth has lagged against industry peers, Fitch Ratings Lanka said. œThe rating reflects Dialog’s leading position in Sri Lanka’s cellular-mobile space with around 60 percent subscriber-share, its robust growth and strong operating cash flow, the […]
‘s richest two percent own half global wealth: UN
HELSINKI, Dec 5, 2006 (AFP) – The world’s richest two percent of adults own more than half of global household wealth, while half the world’s population own only one percent, a UN report published on Tuesday showed. “The study finds wealth to be more unequally distributed than income across countries,” Anthony Shorrocks, director of the […]
Charity resumes Sri Lankan battle zone operations after massacre
COLOMBO, Sept 6, 2006 (AFP) – A French charity Tuesday announced it is resuming its operations in Sri lankan, four months after 17 of its local employees were gunned down, allegedly by security forces. The Action Against Hunger (Action contre la Faim, or ACF) had in September reduced its number of staff by 60-70 percent […]
‘ cash grants to rebuild homes
Dec 05 (LBO) – Relief Agency the American Red Cross said Tuesday that it will give ten million dollars in cash grants to over 3000 Sri Lankan families to rebuild their homes destroyed in the tsunami two years ago. The tsunami that struck on December 26, 2004 extensively damaged or destroyed about 100,000 homes and […]
Fighting kills 19 in Sri Lanka: military
COLOMBO, Dec 5, 2006 (AFP) – At least 19 people have been killed in fresh violence in Sri Lanka as peace broker Norway cancelled a meeting with Tamil Tiger rebels, defence officials said Tuesday.Two soldiers and 15 guerrillas were killed in a confrontation in the eastern district of Batticaloa on Monday while 19 troopers were […]
Better Deal
Dec 05 (LBO) – Sri Lanka’s small hydro developers are in talks with the government for a new electricity tariff, to be finalised in about a month, as mini-hydro electricity becomes more expensive to develop. There are currently about 100 megawatts of small hydro plants generating 300 million units of electricity a year, connected to […]