Category: Economy and Markets
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 […]
Steady Flow
Trade deficit for January grew US$ 4 mn to US$ 152 mn in 2004, as foreign inflows from tourism, ports, private transfers and net inflows of portfolio investments eased the pressure on the rupee.rn rnEXPORTSrn rnA strong recovery in the global economy helped push export earnings up by 20 percent to US$ 459 mn in […]
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 […]
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 […]
Waiting Game
The Banks country director, Peter Harrold, said the relatively peaceful run-up to the April 2 vote had been a blessing, but an outbreak of post-election violence would be a blow to growth prospects.rn rn Sri Lanka had been set to record seven to eight percent growth rate this year, but the uncertainty associated with the […]
Cry For Peace
His conflict with the president may have pushed Sri Lanka into early elections on April, 2, but Prime Minister Ranil Wickremesinghe says he would rather talk peace with Tamil rebels than wage war with the head of state. Wickremesinghe, 55, said in an interview with AFP that he had no intention of impeaching President Chandrika […]
Staff Takeover
Local money broking fraternity saw some activity this week with an established firm opting for a joint partner, while another opened shop to expand its financial reach.Bartleet Mecklai & Roy Ltd grabbed headlines this week, when the firm sold a minority interest to a few ex-staff led by Senaka Udugama and David Benedict.rn rnBartleets Chief […]
Hedging Bets
Singer (Sri Lanka) Ltd secured a SL A credit rating from Fitch Ratings Lanka for its upcoming four-year Rs. 400 mn unsecured redeemable debenture issue.The firm secured a similar rating for its previous debenture issues.rn rnSL A rating denotes a low expectation of credit risk. The capacity for timely payment of financial commitments is considered […]
Saving A Dynasty
For Sri Lankas President Chandrika Kumaratunga running the country is like a family business, but she is taking a gamble at next weeks snap election that could decide the destiny of her dynasty. The daughter of two prime ministers, Kumaratunga, who has been president for 10 years, has surprised her closest allies with political manoeuvering […]
Taming The Tiger
Sri Lankas political groups enter next weeks elections vowing to bring the Tamil Tigers back to the table, but the parties are poles apart on how to end decades of ethnic bloodshed.Rivals agree that the drawn-out Tamil separatist conflict which has claimed over 60,000 lives is the key issue at the April 2 parliamentary election, […]
Victim Of Peace
The man who is seeking re-election as Sri Lankas prime minister at April 2 polls halted an ethnic war raging for decades, but his handling of the peace process may have landed him in trouble. Ranil Wickremesinghe, 55, has turned the vote into a referendum on his internationally-backed bid to secure a permanent peace deal […]