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Sri Lanka’s Central Bank calls for better fiscal policies to maintain stability
Apr.27 (LBO) – Sri Lanka’s Central Bank has called for better fiscal policies and continued reforms to maintain growth and economic stability, in its annual report on the country’s economic performance.The Bank said Thursday the country grew by 6 percent in 2005, a day after the Finance Ministry said it grew by 6.2 percent last […]
‘s credit outlook
Apr. 27 (LBO) – International rating agencies Fitch and Standard & Poor’s Thursday cut Sri Lanka’s credit outlook to negative from stable, reflecting the island’s worsening security situation. Should the violence become more widespread, adversely affecting the economy, public finances and donor inflows, Sri Lanka’s sovereign ratings could be downgraded, both agencies said. – Mel […]
S&’s credit outlook
Apr. 27 (LBO) – US credit ratings agency Standard & Poor’s Thursday cut Sri Lanka Telecom’s credit outlook to negative from stable, in the wake of escalating violence, which may result in the country slipping back to war. The cash rich operator posted net profits of 3,093 million rupees, while revenues surged 10 percent to […]
Bond yield flat
Apr.27 (LBO) – Sri Lanka’s Central Bank sold 2.85 billion rupees worth of three, four, five and six year bonds Thursday at yields in line with market expectations. Details of the auction below Treasury Bond Auctions 3-years 4-years 5-years 6-years Date of Maturity 15-03-2009 01-02-2010 01-02-2011 15-04-2012 Coupon Rate 7.50% 7.20 % 7.00 % […]
Standard &”s credit outlook
Apr. 27 (LBO) – International rating agency Standard & Poor’s Thursday lowered Sri Lanka’s credit outlook to negative from stable, amid escalating violence and fears that the island may slip back to war. However, S&P warned: “The country’s external liquidity could come under pressure if war causes reduced foreign exchange inflows from tourism and tourism-related […]
United Front
DHAKA, April 27, 2006 (AFP) – Health ministers from seven South Asian nations have decided to develop a common strategy to combat bird-flu in the region, a statement said Thursday.The health ministers said after their meeting in the Bangladeshi capital Dhaka Wednesday that “an impending pandemic influenza” posed a threat to the region’s 1.40 billion […]
Arrest Quest
Apr. 27 (LBO) – Seven persons who were caught promoting the GoldQuest network marketing scheme have been arrested in southern Sri Lanka, police said. Central Bank has now established a special investigation unit to look into pyramid scams, referral frauds, as well as other violations of laws administered by the regulator. The seven who were […]
‘s secret service trawls for new talent
LONDON, April 27, 2006 (AFP) – Britain’s secret service, famed for lurking in the shadows, launched its first overt recruitment operation on Thursday, calling on men and women who are looking for a challenge.For the first time in its 97-year history, MI6, the country’s foreign spy agency, published an open advertisement in a newspaper. “From […]
Chinese car lust drives battery boom, bust in Kenya
ATHI RIVER, Kenya, April 27, 2006 (AFP) – China’s rapid expansion into Africa in search of fuel to feed its booming development needs is leaving a profound mark on the continent’s economies, often in little noticed sectors. And as Kenya hosts Chinese President Hu Jintao on his last stop in a three-nation African tour, the […]
‘s Afridi withdraws retirement from Test cricket
KARACHI, April 27, 2006 (AFP) – Pakistani allrounder Shahid Afridi has withdrawn his temporary retirement from Test cricket, the Pakistan Cricket Board (PCB) said on Thursday.Afridi, 26, shocked his team when he announced earlier this month that he was giving up the longer form of the game until after the 2007 World Cup to concentrate […]