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Commercial Bank to raise Rs3 bn through 10-year debt paper
Mar. 31 (LBO) – Sri Lanka’s Commercial Bank of Ceylon is raising up to Rs3.0 billion in long term funds next month through a combination of private and public placement of debentures, an official said Friday. Fitch Ratings Lanka Friday gave the issue a rating of ‘AA (sri)’ and a stable outlook, for the unsecured […]
Fresh Date
Mar. 31 (LBO) – Sri Lanka’s Sampath Bank put off its extraordinary general meeting Friday to discuss a proposal to lift minimum shareholder limits at a later date. The bank, which also conducted its annual general meeting at the same time, had proposed to amend the articles of association on the 5-percent shareholder limit to […]
Guessing Game
Mar. 31 (Dow Jones)–When inflation in Sri Lanka surged last year, the central bank went on an aggressive monetary tightening that saw 125 basis points added over 2005.Inflation has begun to slide since then, and the central bank appears to be preparing to shift to a looser policy, but analysts said it’s unlikely that the […]
Short Hop
Mar. 31 (LBO) – Sri Lanka Telecom, the island’s dominant fixed-line operator, Friday said they will resume sales of Code Division Multiplex Access or CDMA phones from April 1st. The decision comes after SLT got a court injunction against the telecom regulator to, on their CDMA installation charges. SLT suspended sales of CDMA connections on […]
‘s Jayasuriya announces retirement
Mar. 31 (AFP) – Sri Lanka’s veteran opening batsman Sanath Jayasuriya Friday said he would retire from Test cricket after next week’s match against Pakistan. -Amal Jayasinghe: win98win@ “I thought about it long and hard and decided that’s it. It’s a very emotional moment, but I guess every good thing has to come to an […]
Liquid Potential
Mar. 31 (LBO) – Small hydro company Vallibel Power Erathne, that opens its share issue on April 6, is bullish on Sri Lanka’s hydro and other renewable energy prospects, despite climbing costs. The Vallibel Power group operates 18.9 megawatts in small hydro plants, with plans to go up to 45 MegaWatts over the next few […]
‘s March inflation dips
Mar. 31 (LBO) – Sri Lanka’s annualised inflation eased to 9.6 percent in the twelve months to March from 10.3 percent in February, despite price hikes in the sales of firewood, sugar, meat and milk tea, the Census & Statistics Dept said Friday. The twelve month moving average is usually taken as the official inflation […]
‘s economy expands by 5.9 % in 2005
Mar. 31 – Sri Lanka’s economy expanded by 5.9 percent in 2005, over 5.4 percent a year earlier, in the backdrop of high international oil prices and stiff competition for key exports like garments, the Central Bank said Friday. Economic growth during the fourth quarter of 2005 was 6.3 percent on higher inputs from agriculture, […]
Sri Lanka to discuss military cooperation with Pakistan
Mar. 31 (AFP) – Sri Lankan President Mahinda Rajapakse was due in Islamabad Friday for a three-day visit during which he is expected to discuss military cooperation with Pakistan, official sources said Friday.Rajapakse, who is also the defence minister, will hold talks with President Pervez Musharraf on bilateral trade, tourism, cultural exchanges and defence matters […]
Sri Lanka ruling party heads for local council win
Mar. 31 (AFP) – Sri Lanka’s ruling party Friday was headed for a comfortable sweep of local council elections after the first test of public opinion since President Mahinda Rajapakse came to power.Official results declared by the Sri Lankan election department showed that Rajapakse’s people’s Alliance had won 39 out of the 49 councils declared […]