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”s Leasing wraps up largest listed bond issue
Mar 19, 2013 (LBO) – Sri Lanka’s People’s Leasing and Finance Plc, the country’s largest non-bank lender said it had sold 6.0 billion rupees in bonds, which a joint manager said was the largest listed debenture sale so far. The company said the oversubscribed issue was closing today and the basis of allocation would be […]
” rating confirmed
Mar 19, 2013 (LBO) – Fitch Ratings said it has confirmed the ‘B+(lka)’ rating of Sri Lanka’s Multi Finance Plc, a registered finance company, but has cut its outlook to ‘negative’ from ‘stable. “The revision of the Outlook reflects MFP’s weakening liquidity profile and net losses due to higher borrowing costs and increased operating expenses […]
Sri cautions tourists to Tamil Nadu; India says attackers prosecuted
Mar 18, 2013 (LBO) – Sri Lanka has called upon citizens travelling to “exercise caution” following attacks by suspected Tamil groups on tourists including Buddhist monks, while India said action has been taken to find and prosecute those involved in assaults.Sri Lanka’s foreign ministry said it had “lodged strong protests with the Indian Government” through […]
Sri Lanka carrier halves Chennai flights after attack on monks
Mar 18, 2013 (LBO) – State-run SriLankan Airlines said it was halving flight to Chennai to 14 a week from 28 from Thursday March 21 following an attack on a visiting Buddhist monk by Tamil groups.“SriLankan Airlines has observed a drop in traffic between Chennai and Colombo due to recent developments in Tamil Nadu, hence […]
Paradise Isle
Mar 19, 2013 (LBO) – Sri Lanka’s media, including banned-but-popular news websites, have evidently avoided reporting on the “princely wages” they have just been awarded by a government keen to win over their support.Buoyed by such compliments, media trade unions are unlikely to join the Organisation of Professional Associations (OPA). The Working Journalists’ Association, which […]
Sri Lanka planned land rights legislation queried
Mar 19, 2013 (LBO) – A law to apparently improve people’s absolute property rights while another declared policy is aimed at taking away existing liberties has raised queries whether the moves are intended to benefit interest persons, a legislator has said. Under feudal rule, land was mostly owned by the king. Citizens held and used […]
Smart Traffic
Mar 18, 2013 (LBO) – Sri Lanka’s expressways will get hi-tec equipment to monitor traffic, disseminate information including weather and analyze data to solve problems relating to traffic conditions, the Japan International Co-operation Agency said. Data from existing closed circuit TV cameras, patrol vehicles, Police and expressway users could also be combined and relevant information […]
Financial Turmoil
TOKYO, March 18, 2013 (AFP) – The euro dived in Asia Monday as news that Cyprus would have to tax bank customers’ deposits as part of an EU bailout stoked eurozone fears, sending investors flocking to the safe-haven yen.In afternoon Tokyo trade, the euro sank to 121.77 yen from 124.61 yen in late New York […]
Smartphone
Mar 18, 2013 (LBO) – Dialog Axiata Plc, Sri Lanka’s largest cellco said it has launched two own brand Android based handsets with which it hopes encourage mass-adoption of Smartphones in the country.Hans Wijesuriya, group chief executive of Dialog Axiata said the move will allow every citizen to afford a Smartphone. He said the Dialog […]
Sri Lanka second airport to support aviation hub strategy: President
Mar 18, 2013 (LBO) – The opening of a second international airport in Mattala in Hambantota on March 18, strengthens Sri Lanka’s strategy to become an aviation hub, President Mahinda Rajapaksa said. The airport has a 3,500 meter ‘code F’ runway capable of handling Airbus A380 aircraft. He declared March 18 as the civil aviation […]
Sri Lanka opens second international airport
Mar 18, 2013 (LBO) – Sri Lanka President Mahinda Rajapaksa inaugurated the island’s second international airport in Mattala, Hambantota after arriving in a state-run SriLankan Airlines aircraft Monday.The Chinese financed Mattala Rajapaksa International Airport, named after the president, can handle a million passengers and 45,000 tonnes cargo annually. Air Arabia, a UAE based budget carrier, […]
India calls off defence talks with Sri Lanka: report
Mar 18, 2013 (LBO) – India has called off annual defence talks with Sri Lanka scheduled to have been held on March 25 amid protests from Tamil parties, a media report said.The Press Trust of India, a news agency, said no reason was given for cancelling the Secretary-level talks and no new dates have been […]