Author: lbostgadmin
Toss A Coin
Sri Lankas two main parties may find it hard to secure a comfortable lead, as weeks of campaigning comes to an end on Tue, an independent poll reveals.In its last survey to the run up of April 2 polls, independent research firm Org-Marg Smart says the opposition United Peoples Freedom Alliance (UPFA) has a slight […]
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Full Marks
Fitch Ratings Lanka on Tuesday re-affirmed the SL AAA (Triple A) national rating assigned for National Savings Banks implied long-term unsecured senior debt.rnrn SLrnAAA long-term rating denotes a very low expectation of credit risk. The ratingrnindicates a very strong capacity for timely payment of financial commitments.rnThis capacity is not significantly vulnerable to foreseeable events.rn NSBsrnrating […]
Landing Trap
In a bid to entice private airlines to fly to Sri Lanka, the Civil Aviation Authority plans to cut landing charges during off-peak hours.This will even out operations at the Bandaranaike airport, which is under-utilised at certain times and heavily congested at others.rn rnMost of its business is during the day, with slack hours between […]
Greater Flexibility
The announcement is subject to regulatory approvals. rn rnThe bank said the five-year debenture will help lquote expand its capital base to keep in line with the banks expansion plans and Central Banks revised guidelines for capital adequacy.rn rnThe issue is expected to come out late next month and is likely to carry a rating.rn […]
Saffron Revolution
Cultural pollution such as Coca-Cola and McDonalds will be spurned if the monks campaigning for this weeks elections in Sri Lanka have their way.They also say they will take sexually explicit movies off national TV as part of their avowed bid to save Sri Lankas heritage.Crime against women is increasing because television and movies influence […]
Switching Channels
Sri Lankas independent election chief took over state-owned radio and television stations amid allegations that their programs were highly biased towards the presidents party. Dissanayake said he appointed a “competent authority” to run stations until the conclusion of the election which begins with voting Friday and ends with the declaration of results a few days […]
Slow Sailing
The sweep for funding sources to back the proposed South Harbour project will be six months late on account of the ongoing political row. A market survey to identify potential investors to raise an estimated US$ 600 million for the initial work was due to set sail around November 2003.rn rnThe initial funding requirement also […]
Secure Cash
Peoples Leasing Company is coming out with a Rs. 500 mn debt paper, backed by an SL A rating from Fitch Ratings Lanka Ltd.rnrn ThernLease Backed Trust Certificates (LBTC), will be issued by a Special PurposernVehicle (SPV) called Peoples Leasing Trust Nine, under the firms assetrnbacked borrowing programme.rn SLrnArnrating denotes a low expectation of credit […]
In A Spot
Sri Lankans are still keen to keep the peace process intact, though the rising cost of living still troubles the voting public, as the country heads for a snap poll on April 2.The following is an analysis of the findings of the third and final wave of the ORG-MARG SMART opinion poll series, in the […]
Battered To Be Better
Last year Sri Lankas six top local banks collectively made Rs. 8.3 billion in profits, up from just Rs.2.9.rnbillion in 2001.rnrnrn Behind part of the profitsrnlay bond profits from a falling interest rate environment.rn The Central Bank was able torncut rates because for the first time in almost a decade the Treasurys fiscalrnpolicy was in […]
Bouncing Banks
Sri Lankas top banks emerged stronger in a year of exceptional performance in 2003.Helped by what the Central Bank calls a lquote heroic attempt at fiscal discipline by the Treasury, SrirnLankas banks have rebounded strongly from the economic crises that hit the country in the laternnineties.rn rnPredictably Commercial Bank led the pack on several key […]