Category: Economy and Markets
” rating confirmed: Fitch
Sept 13, 2013 (LBO) – Sri Lanka based Dialog Axiata’s ‘AAA(lka)’ rating has been confirmed by Fitch Ratings with a stable outlook. “Dialog’s rating reflects Fitch’s expectations that its 83 percent-parent, Axiata Group Berhad of Malaysia (Axiata), is likely to provide support if required, given operational and strategic linkages between the companies,” the rating agency […]
”s US$500mn bond launched: report
Sept 12, 2013 (LBO) – Sri Lanka’s state-run National Savings Bank has started selling a 5-year 500 million US dollar bond, a report said. A dollar denominated bond by state-run Bank of Ceylon maturing in 2018 was quoted at 7.90/8.14 percent levels Thursday. A 2020 sovereign bond was quoted around 7.32/55 percent levels bond dealers […]
Sri Lanka economics book released
Sept 12, 2013 (LBO) – The Central Bank said it released a new book, ;An Introduction to Principles of Economics – Part 1′ It was written by C P A Karunatilake, Director, Centre for Banking Studies, the training arm of the Central Bank of Sri Lanka. He is a graduate of Colombo University and has […]
Multinationals to get equal treatment in China: premier
DALIAN, September 11, 2013 (AFP) – China’s premier promised equal treatment for multinational companies operating in the country, as he opened a meeting of the World Economic Forum on Wednesday.China will continue to encourage foreign companies to invest and do business in China, and ensure that all companies have equal access …and equal treatment,” Li […]
”
Sept 11, 2013 (LBO) – Sri Lanka and China is committed to its bi-lateral relationship which was elevated to ‘strategic co-operation’ level earlier this year, the government said following a visit by a senior Beijing official to Colombo.Liu Yunshan, one of seven members of the central secretariat of the Communist Party of China visited Sri […]
”’ by RAM
Sept 10, 2013 (LBO) – Sri Lanka’s EAP Broadcasting Company Ltd (EAPB), has been rated ‘BBB’ by RAM Ratings which said the firm was planning a billion rupee listed debenture sale.“The ratings are upheld by the Company’s notable presence in TV industry,” RAM Ratings said. “EAPB has one of the largest television networks in Sri […]
‘s war ravaged provinces grow fastest in 2012
Sept 10, 2013 (LBO) – Sri Lanka’s war ravaged Northern and Eastern provinces grew fastest in 2013, though starting from a low base, helped by construction but also banking and agriculture, the Central Bank said. The share of Central Province was flat at 9.8 percent. The North Central (4.7 percent), UVA 4.5 percent and Sabaragamuwa […]
‘s Ceylease rating upgraded and withdrawn: Fitch
Sept 10, 2013 (LBO) – Fitch Ratings said it had upgraded and Sri Lanka-based Ceylease Ltd’s rating to ‘BBB(lka)’ from BB+(lka)’ and withdrawn it following the firm’s merger with MCSL Financial Services. Both are units of state-run Bank of Ceylon. Fitch Upgrades and Withdraws Ceylease’s Rating; Affirms MCSL Financial Services Fitch Ratings-Colombo-09 September 2013: Fitch […]
‘s EAP Films and Theatres rated BBB+ by RAM
Sept 09, 2013 (LBO) – Sri Lanka’s EAP Films and Theatres (Pvt) Ltd, a company which has a 60 percent share in local film exhibition market and owns and manages 45 theatres, has been rated BBB+ by RAM. The rating agency said the firm plans to sell 500 million rupees of listed senior secured debt. […]
” hailed as cost of living goes up
TOKYO, September 9, 2013 (AFP) – Japan’s economy in the April-June quarter expanded more than initially estimated, revised data showed Monday, offering another boost for Tokyo’s bid to reverse years of tepid growth. The Cabinet Office put second-quarter growth at 0.9 percent from the previous quarter, up from a preliminary reading of a 0.6 percent […]
Sri Lanka and India in link to boost textile sector
Sept 05, 2013 (LBO) – India and Sri Lanka will sign a deal to promote handloom, powerloom and textile as a delegation visits the island during a fabric exhibition to be held next week.Zohra Chatterji, secretary of the ministry of textiles will lead a business and official delegation to the island and sign a memorandum […]
‘s bond awaiting launch window
Sept 05, 2013 (LBO) – A planned global bond sale by Sri Lanka’s National Savings Bank is waiting for international market conditions to improve, sources following the deal said.An international road show on NSB ended this week but market conditions remained unstable with a possible US strikes on Syria looming over the horizon, market sources […]