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Vast Antarctic sanctuary plans blocked by China, Russia
SYDNEY, November 1, 2013 (AFP) – Plans to create two vast ocean sanctuaries in Antarctica to protect the pristine wilderness failed Friday for a third time with Russia and China blocking the bids, delegates at multi-nation talks said.The proposals for two huge Marine Protected Areas were on the table at the Commission for the Conservation […]
India construction expo seeks Sri Lanka participation
Nov 01, 2013 (LBO) – Organizers of India’s Excon 2013, touted as South Asia’s largest construction equipment fair say Sri Lanka’s construction industry and component makers can benefit from taking part.The show will have 900 exhibitors including 200 construction equipment makers from outside India. “We would like Sri Lankans who are in the construction industry […]
‘s Sampath Bank to sell Rs5.0bn in debt
Oct 31, 2013 (LBO) – Fitch Ratings said a 3.0 billion rupees subordinated debt offer of Sri Lanka’s Nations Trust Bank has been given an expected ‘A-(lka)’ rating. SB could be downgraded if there is an increase in risk appetite, for instance through aggressive lending or weakening of underwriting standards that can put pressure on […]
Sri Lanka stocks close up 0.4-pct
Oct 30, 2013 (LBO) – Sri Lanka stocks closed 0.47 percent higher helped by tobacco and consumer goods stocks and strong foreign purchasing, brokers said. Touchwood ended up 20 cents to 4.10 rupees. PCH Holdings closed flat at 1.70 rupees and PC House closed flat at 80 cents. NDB Bank closed flat at 158.00 rupees […]
Debt Rating
Oct 31, 2013 (LBO) – Fitch Ratings said a 3.0 billion rupees subordinated debt offer of Sri Lanka’s Nations Trust Bank has been given an expected ‘A-(lka)’ rating. The rating agency also confirmed a ‘A(lka)’ long term rating of the bank, which is a notch higher, with a stable outlook.’ “The ratings reflect NTB’s broadly […]
Finance Chief
Oct 31, 2013 (LBO) – Nalin Wijekoon, has been appointed President of the Finance House Association of Sri Lanka, an industry body representing registered finance company. The association started in 1958 with 42 member firms. Wijekoon is chief executive of Softlogic Finance Plc. He has over 30 year’s experienced in the financial sector and has […]
Credit Profile
Oct 31, 2013 (LBO) – Fitch Ratings has confirmed a ‘BBB(lka)’ investment grade rating of Sri Lanka’s Pan Asia Bank but has lowered the outlook to ‘stable’ from ‘positive’.PABC accounted for 1.5% of banking sector assets in Sri Lanka at end-2012 and operated through a network of 73 branches. Fitch said there was an unanticipated […]
Detained
COLOMBO, October 30, 2013 (AFP) – Immigration authorities raided a meeting of journalists in Sri Lanka’s capital Wednesday and detained an Australian activist on a charge of working without a visa, a local rights group said.The International Federation of Journalists (IFJ) representative for the Asia-Pacific region, Jacqui Park, was taken into custody by immigration officials, […]
Sri Lanka state-carrier looks for foreign finance
Oct 31, 2013 (LBO) – Sri Lanka’s state-run SriLankan Airlines is negotiating a 250 million US dollar facility for working capital, a top official said.The carrier is looking for 4-year funding, from international markets chief executive Kapila Chandrasena said. SriLankan Airlines has mapped out an ambitious re-fleeting program involving fuel-efficient Airbus A-350 XWB and new […]
Textured Jersey Sri Lanka net up 68-pct
Oct 31, 2013 (LBO) – Profits at Sri Lanka’s Textured Jersey Lanka Plc, a fabric maker, rose to 263 million rupees in the September 2013 quarter up 68 percent from a year earlier, on strong European demand and better margins, the firm said. The cash positive firm showed a 19 million rupee net interest income. […]
Sri Lanka inflation at 6.7-pct in October
Oct 31, 2013 (LBO) – Sri Lanka’s consumer prices rose 6.7 percent in October 2013 from a year earlier, accelerating from 6.2 percent in September, the state statistics office said. Sri Lanka’s Colombo Consumer Price Index rose 0.2 percent in the month to 176.1 points in the month. Sri Lanka’s inflation has been stable for […]
Sri Lanka Smart phone sales taking off: Singer
Oct 30, 2013 (LBO) – Smartphone sales are taking off showing fast growth, Singer Sri Lanka, a top consumer durables retailer which launched a slim phone targeting domestic and tourist markets said.Smartphones have an operating system which can run many applications, similar to a small computer, while remaining connected to the internet compared to so-called […]