Category: Companies
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Sept 24, 2013 (LBO) – A proposed US dollar bond by Sri Lanka’s DFCC Bank has been given an expected ‘B+ (EXP)’ rating by Fitch. The ratings agency said DFCC has a satisfactory risk profile, good project finance track-record and strong capital ratios. DFCC is expected to sell a 250 million US dollar bond in […]
”’ by Fitch
Sept 24, 2013 (LBO) – A planned debt 2.0 billion rupee debt sale by Sri Lanka’s Abans Limited has been given an expected ‘A-(lka) (EXP)’ rating by Fitch Ratings. The firm plans sell three, four and five year fixed rated senior debt to re-finance a part of its short term debt and lower interest rate […]
‘s Nawaloka debenture offer taken up
Sept 24, 2013 (LBO) – A one and a half billion rupee listed debenture offer by Sri Lanka’s Nawaloka Hospitals has been fully subscribed. The offer will close at 4.30 pm, registrars to the sale, said in a stock exchange filing. NDB Investment Bank was the financial advisor to the issue .
Airbus predicts 29,000 new planes needed by 2032
LONDON, September 24, 2013 (AFP) – Airbus predicts that the world will need more than 29,000 new commercial planes over the next 20 years to respond to higher traffic and replace older models, the European planemaker said Tuesday.Delivering its 20-year outlook, Airbus said air travel through 2032 will be fuelled by traffic to and from […]
Protests as Maldives Supreme Court suspends elections
MALÉ, September 23, 2013 (AFP) – The Supreme Court of the Maldives on Monday suspended presidential elections due this weekend following a legal challenge, sparking protests and fears of fresh instability in the troubled Indian Ocean archipelago.“The Elections Commission got the opportunity to argue out their case and establish the credibility of the process,” he […]
”’ rating confirmed, outlook lowered
Sept 23, 2013 (LBO) – ICRA Lanka has confirmed an ‘[SL] A-‘ rating of Lanka Orix Leasing Company (LOLC) and two subsidiaries, and has lowered its outlook to negative. The outlook on the ‘[SL] A-‘ rating of Lanka Orix Finance Plc (LOFC), and Commercial Leasing and Finance (CLC) has also been lowered to negative. ICRA […]
SriLankan flight diverted over bomb claim
Sept 22, 2013 (LBO) – State-run SriLankan Airlines said its flight to London’s Heathrow airport was diverted to Stansted after a passenger claimed that he had a parcel bomb.The passengers had been transferred by Heathrow by coach. A British national had claimed that he had a bomb on board just as SriLankan’s UK503 was beginning […]
”’ rating ahead of bond sale
Sept 20, 2013 (LBO) – Sri Lanka’s DFCC Bank has been given a ‘B’ international rating by Standard and Poor’s ahead of a bond sale. “DFCC’s business position reflects our view of the bank’s satisfactory business stability, diversification, management, and strategy compared with that of peers in emerging markets,” said Standard & Poor’s credit analyst […]
Four Sri Lankans on global economics blog
Sep 19, 2013 (LBO) – Future Development: Economics to End Poverty, a blog to create a discussion on global development issues has been launched, led by World Bank economist Shanta Devaranjan in which four Sri Lankans are included.Basic tools of mobility that helped improve living standards and productivity in ‘developed countries’ such as cars and […]
”’ international rating confirmed: Fitch
Sept 18, 2013 (LBO) – Fitch Ratings said a ‘B+’ international rating of Sri Lanka’s People’s Leasing and Finance has been confirmed with a stable outlook. The company’s domestic ‘AA(lka)’ rating has also been confirmed. People Leasing is a unit of Sri Lanka’s state-run People’s Bank. The full statement is reproduced below: Fitch Affirms People’s […]
Rail Connection
COLOMBO, September 14, 2013 (AFP) – A train linking the political home of Sri Lanka’s Tamil Tiger rebels with the rest of the island rolled into service on Saturday after a 23-year interruption, officials said.The Sinhalese-dominated government is under international pressure to promote ethnic reconciliation and investigate allegations of war crimes by its forces in […]
US nominee for South Asia post sees strong Indian economy
WASHINGTON, September 12, 2013 (AFP) – The nominee to be the top US diplomat for South Asia said Thursday that India’s economy remained strong despite recent concerns, and that further liberalization would strengthen relations. Biswal would replace Robert Blake, a former US ambassador to Sri Lanka who frequently urged the island to provide greater accountability […]