All Blogs
Settling Debts
Sept 14 (LBO) – Sri Lanka’s private port operator South Asia Gateway Terminals said Thursday that it has raised 48 million dollars through a syndicated loan facility, to refinance old debt. As at end August, volumes handled at SAGT was up 36.5 percent over last year, to 853,883 TEU’s, with high growth in lower margin […]
Member ID
Sept 14 (LBO) – The Hayley™s group said Thursday that it had tied up with Bartronics India Limited to develop and market identification devices such as Barcodes and Smart Cards. The products like Radio Frequency Identification Devices and other data capturing and security solutions, will be marketed through Hayley™s logistics subsidiary Logiventures Ltd. These solutions […]
Oil prices likely to remain high through 2007: IMF
SINGAPORE, Sept 14, 2006 (AFP) – The strong US and Chinese economies as well as an array of supply issues look set to keep oil prices high next year, with markets pointing to a price of 70-75 dollars a barrel, the IMF said Thursday. The International Monetary Fund warned that a further escalation in oil […]
Donor countries cut funding for Sri Lanka de-mining Report
Sept 14 (LBO) – Donor countries have withdrawn funding for de-mining in Sri Lanka until the government shows more commitment to signing a treaty banning landmines. A Landmine Monitor Report for 2006 launched earlier this week, says funding for de-mining has been steadily falling over the past few years as Sri Lanka is not signatory […]
Ten killed in Sri Lanka amid fresh violence
VAVUNIYA, Sri Lanka, Sept 14, 2006 (AFP) – At least 10 people have died in fresh violence in Sri Lanka, officials said Thursday, despite an agreement among the island’s warring parties to talk peace. Three migrant workers from Sri Lanka’s majority Sinhalese community were gunned down in an open field in the town of Vavuniya, […]
Lack of cash pushes Sri Lanka to peace talks: analysts
COLOMBO, Sept 14, 2006 (AFP) – Sri Lanka appears to be dominating Tamil separatists on the battlefield, but a dwindling war chest may have forced it to enter peace talks ordered by foreign donors, analysts and diplomats say. “There is no doubt that the military enjoys the upper hand in current battles,” says retired air […]
Hedging Option
Sept 14 (LBO) – Sri Lanka is looking at oil futures to hedge against increasing crude prices and control the island’s runway oil bill next year, officials said. Sri Lanka is hoping to bring about a more stable macro-economic framework in the next few years and one such move to do this is to take […]
’s money changers to up collections, but new tax pushes dollars underground
Sri Lanka’s central bank is asking the country’s licensed money changers to raise more dollars to be allowed to continue in business. They are expected to buy foreign exchange from tourists and those who return from working abroad and deposit it in commercial banks. According to their license, money changers cannot sell foreign exchange back […]
Sri Lanka’s Industrial Finance may have to relax credit policies to grow faster: Fitch
Sept 13, (LBO) – Fitch Ratings has given a BB+ (lka) rating with a stable outlook for Industrial Finance Limited (IFL), a company which operates mainly in Sri Lanka’s western province, but the agency said it may have to relax credit policies and boost capital if it wanted to grow faster. Though the company had […]
Sri Lanka government dollar bond buyers demand higher yields and shorter maturities
Sept 13 (LBO) – Buyers of Sri Lanka government dollar bonds have demanded higher yields, and shorter maturities, at the latest action which closed this week. At the dollar bond auction which closed this week, weighted average yield for 2-year bonds were 144.06 basis points above the London Interbank Offered Rate (LIBOR) while the premium […]