Category: Companies
‘s NDB begins bond road show: report
Sept 26, 2013 (LBO) – Sri Lanka’s National Development Bank has begun a road show to sell a 250 million US dollar bond in international markets.DFCC Bank is also expected to go the market soon. Bloomberg newswires said investor meetings were being held in Hong Kong, Singapore, and London to starting from this week. Barclays, […]
Sri Lanka exporters moving beyond labour arbitrage
Sept 25, 2013 (LBO) – Sri Lanka’s high end apparel and information technology firms are moving beyond labour arbitrage to leverage knowledge and supply chain efficiencies, officials said.“Labour arbitrage is not necessary, the way we see it,” Udena Wickramasuriya, group director at Brandix a top Sri Lanka based apparel group that also has operations in […]
Sri Lanka should keep policy on hold, make structural changes: IMF
Monetary Stance Sept 25, 2013 (LBO) – Sri Lanka should keep monetary policy on hold but make structural change to boost growth, an International Monetary Fund official said. Todd Schneider, head of a monitoring mission to Sri Lanka said external conditions have worsened with impending Federal Reserve action, and budget revenues were flat though inflation […]
”’
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 […]
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 […]
”’ 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 […]
”’ 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 […]