Author: lbostgadmin
Shared Resources
Mar 28, 2013 (LBO) – Sri Lanka is allowing spectrum sharing and domestic roaming to promote shared resources and cut costs so that broadband tariffs can be kept low, the telecom regulator said. “We are allowing spectrum sharing,” director general of the telecommunications regulatory commission of Sri Lanka (TRCSL) Anusha Pelpita said. “We will not […]
Urban Transit
Mar 28, 2013 (LBO) – A bus rapid transit (BRT) solution could be implemented faster and at a much lower cost to prevent gridlock in Sri Lanka’s capital Colombo, while a more expensive rail based Metro system is built, , officials said. The state has been investing heavily in transport in recent years, but mostly […]
‘s Bank of Ceylon to sell up to US$500mn in bonds
Mar 28, 2013 (LBO) – Sri Lanka’s state-run Bank of Ceylon would sell plans to sell between 300 to 500 million US dollars of bonds in the international market, a media report said. Bloomberg newswires said UBS has been hired to manage the sale. Fitch Rating has given a BB- expected rating to the securities […]
”’ rating confirmed: Fitch
Mar 28, 2013 (LBO) – Sri Lanka’s state-run Bank of Ceylon had high exposure to the state enterprise with Ceylon Petroleum Corporation making up 20 percent, though some of the loans were guaranteed, Fitch Ratings said. Bank of Ceylon’s capitalization has weakened with dividend payouts by dividend payouts, and high loan growth. “While slowing loan […]
India eases non-tariff barriers on Sri Lanka apparel, meat
Mar 27, 2013 (LBO) – India has raised a quota of Sri Lanka-made apparel and the validity of a sanitary permit for meat had been doubled giving more freedom for Indian nationals to buy goods from the island.Free Trade Agreements were then used to progressively give freedom to the poorer people to trade. Quotas and […]
China trade mission led by Yunan vice governor in Sri Lanka
Mar 27, 2013 (LBO) – A Chinese delegation led by Yunan province vice governor Ding Shaoxiang is arriving in Colombo today, which will help expand bilateral trade of 2.7 billion US dollars reached last year, the commerce ministry said. “This visit is a strong boost to the growing Lanka-China bilateral trade,” commerce and industry minister […]
”s first shipment to India
Mar 27, 2013 (LBO) – Sri Lanka’s second international airport in Mattala, has started cargo operations, with exporters offered a 10 percent discount, state-run SriLankan Airlines said.The first 900 kilograms of cargo made up garment accessories left for Chennai. SriLankan Airlines said cargo from Mattala will get a 10 percent discount and carriage to Colombo […]
Sri Lanka mega projects may intensify human elephant conflict: researchers
Mar 27, 2013 (LBO) – Sri Lanka’s aggressive economic expansions into elephant country through recent projects may further aggravate human conflicts, which are already taking a toll on human and animal life, researchers and conservationists have warned. Driving elephants into reserves or transporting is not effective as they try to come back. Disturbing the habitat […]
Finance Debentures
Mar 27, 2013 (LBO) – Sri Lanka’s Central Finance Plc, a registered finance company will sell 2.0 billion rupees in fixed rate debentures, Fitch Ratings said. Key Rating Drivers CF’s ratings factor in its strong franchise and capitalisation, supported by robust profitability and its 55-year operating history. CF is one of the largest licensed finance […]
‘s Softlogic to sell Rs750mn in bonds
Mar 27, 2013 (LBO) – Sri Lanka’s Softlogic group is to sell up to 750 million rupees in three year fixed rate debentures, which will be used to re-finance short term debt, Fitch Ratings said. Fitch has given the debentures an ‘A-l(ka)(EXP)’ rating pending final documentations. Softlogic itself has been given an ‘A-(lka)’ rating. Fitch […]
” by UN-ESCAP: Central Bank
Mar 25, 2013 (LBO) – Sri Lanka has been classed as ‘less indebted’ in five out of six debt indicators which assesses external debt vulnerability of a country, by the United Nations Economic Commission for Asia and the Pacific, the Central Bank said. There have been concerns over Sri Lanka’s rising commercial foreign debt, as […]
Spreading Fear
Mar 25, 2013 (LBO) – Mob violence in Sri Lanka against Muslims and Christians and emerging attacks and humiliation of Muslim girls for their dress by Buddhist nationalists, was spreading fear among minorities, Friday Forum, a citizens group said.“The failure of the police to act swiftly and effectively in enforcing the law has encouraged individuals […]