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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 […]
Vehicle Rating
Sept 13 (LBO) – Sri Lanka’s largest leasing company People’s Leasing got a stable A-(lka) long term rating from Fitch Ratings Lanka, led by strong growth in its vehicle lease portfolio. The company’s vehicle lease portfolio has tripled between 2003 and 2006, with commercial vehicles such as buses and lorries accounting for a bulk of […]
Hollywood vs. China
BEIJING, Sept 13, 2006 (AFP) – Six Hollywood studios said Wednesday they had filed suit against Chinese firms for allegedly selling illegal copies of their movies, in a case aimed at curbing the rampant piracy of Western films here. More than 90 percent of films sold in China on DVD are estimated to be pirate […]
Steady Growth
Sept 13 (LBO) – Sri Lanka and India are likely to clock in about three billion dollars in bilateral trade in the next year, despite some troubled investments, India™s finance minister Shri Chidambaram said Wednesday. The two countries saw trade grow from 650 million dollars six years ago when the Indo-Lanka free trade deal was […]
Singapore PM calls for bigger Asian role in IMF
SINGAPORE, Sept 13, 2006 (AFP) – Asia deserves a bigger role in the International Monetary Fund (IMF) to reflect its growing contribution to the global economy, Singapore’s former prime minister said in remarks published Wednesday.“Asia contributes to about a quarter of the world’s GDP (gross domestic product), but Asia only has about 10 percent of […]
‘t commits to talks
COLOMBO, Sept 13, 2006 (AFP) – The Sri Lankan government said Wednesday it was committed to proposed peace talks with Tamil rebels aimed at ending an upsurge in bloodshed since December that has left more than 1,500 people dead. The nation’s top peace official, Palitha Kohona, said the government was now working on possible dates […]
Blast injures 16 in northern Sri Lanka town
VAVUNIYA, Sept 13 (AFP) – A powerful explosion ripped through a chicken market in Sri Lanka’s northern town of Vavuniya on Wednesday, wounding 16 civilians, police and witnesses said. Police said they believed the rebel Liberation Tigers of Tamil Eelam (LTTE) exploded a grenade inside the market. “We suspect the Tigers were behind the attack,” […]
” talks
Sept 13, 2006 (AFP) – A Sri Lankan official denied on Wednesday the government had agreed to unconditional talks with Tamil Tiger rebels, and accused peace broker Norway of failing to consult with Colombo before making any announcement.Earlier peace talks aimed at ending three decades of ethnic bloodshed came to a halt in April 2003 […]
Sri Lanka raises US$105 mn in dollar bonds
September 12, 2006 (LBO) – Sri Lanka Tuesday raised 105 million dollars through a bond issue aimed at the domestic market.The Sri Lanka Development Bonds carries tenures of two and three years and the Central Bank said the issue was oversubscribed when the issue closed this evening. The bank accepted 70 million dollars in two-year […]
Higher Plane
September 12, 2006 (LBO) – Sri Lanka’s Janashakthi Insurance Company Ltd said its profits grew 324 percent to 209.5 million during the financial year ended December 2005. The privately held insurer reported 32.6 percent sales growth of 3.86 billion rupees despite facing stiff competition for a slice of the country’s tiny insurance market. Income from […]