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Turbo Charge
July 27, 2006 (LBO) – Dialog Telekom, Sri Lanka’s largest cellular phone operator, Thursday posted a 43 percent increase in net profits for the six months to June, as subscriber growth lifted revenues. A unit of Telekom Malaysia, Dialog Telekom, reported a 4.93 billion rupee group net profit, while revenues soared 51 percent to 12.28 […]
Airlines must look at alternative fuels to boost efficiency: IATA
GENEVA, July 27, 2006 (AFP) – Airlines must adapt to high oil prices and explore changes such as alternative fuels to regain profitability despite a 6.7 percent growth in passenger traffic during the first half of 2006, the top industry association said Thursday.Airlines are still battling for financial prosperity despite growing revenues and better load […]
Sri Lanka warplanes bomb Tiger airfield
COLOMBO, July 27, 2006 (AFP) – Sri Lankan warplanes bombed a clandestine airfield being built by Tamil Tiger rebels Thursday, the second day of bombardment against the guerrillas, the defence ministry said. The rebel Liberation Tigers of Tamil Eelam (LTTE) had cleared a jungle patch just north of the district of Trincomalee and were building […]
Sri Lanka warplanes bomb Tiger rebels for second day
July 27, 2006 (AFP) – Warplanes bombed suspected Tamil Tiger positions in northeast Sri Lanka on Thursday for a second day after the rebels allegedly blocked an irrigation canal, a military official said.“The bombing raids were over the northeastern region,” the military official said, adding that three Israeli-built Kfir jets were used in the offensive […]
Back to Mommy
July 27, 2006 (LBO) – Sri Lanka’s cabinet has transferred a third of petroleum assets held by the treasury to the state-run Ceylon Petroleum Corp, with immediate effect, government spokesman Anura Yapa said Thursday. Under the cabinet decision, around 3,500 CPSTL staff will rejoin the CPC workforce. The assets — which comprises 107 fuel sheds […]
Fitch upgrades People’s Leasing securitsed notes to A+(lka)
July 26, 2006 (LBO) – Fitch Ratings Lanka Wednesday has upgraded the Lease Backed Trust Certificates issued by People’s Leasing Trust Nine to ‘A+(lka)’ from ‘A(lka)’. People’s Leasing trust nine, is a special purpose vehicle created by People’s Leasing Company of Sri Lanka (PLC) for the sole purpose of this transaction. The rating action says […]
Fitch upgrades Nations Trust Bank to ‘A(lka)’
July 26, 2006 (LBO) – Fitch Ratings said Wednesday it has upgraded Sri Lanka’s Nations Trust Bank’s long-term debt to A(lka) with its outlook on the rating to “stable”. The ratings agency said the revision mainly reflects NTBs stronger financial profile, equity infusion post merger with Mercantile Leasing Ltd (MLL) and an expanded asset base. […]
Sri Lanka’s army chief back at work after bombing
July 26, 2006 (AFP) – Sri Lanka’s army chief Sarath Fonseka has resumed work after surviving a suicide bomb attack three months ago, military spokesman Prasad Samarasinghe said Wednesday. More than 60,000 people have been killed in the conflict.Lieutenant General Fonseka returned to the capital Colombo Tuesday after undergoing specialised treatment in Singapore for more […]
‘s Leasing securitsed notes to A+(lka)
July 26, 2006 (LBO) – Fitch Ratings Lanka Wednesday has upgraded the Lease Backed Trust Certificates issued by People’s Leasing Trust Nine to ‘A+(lka)’ from ‘A(lka)’. People’s Leasing trust nine, is a special purpose vehicle created by People’s Leasing Company of Sri Lanka (PLC) for the sole purpose of this transaction. The rating action says […]
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July 26, 2006 (LBO) – Fitch Ratings said Wednesday it has upgraded Sri Lanka’s Nations Trust Bank’s long-term debt to A(lka) with its outlook on the rating to “stable”. The ratings agency said the revision mainly reflects NTBs stronger financial profile, equity infusion post merger with Mercantile Leasing Ltd (MLL) and an expanded asset base. […]