Category: Industry
‘n Treat
Top multilateral donors who are drawing up new financing plans for Sri Lanka’s post-tsunami period are due to stump up over US$ 500 mn in additional loans in the coming weeks, a joint statement said Tue.Top multilateral donors who are drawing up new financing plans for Sri Lanka’s post-tsunami period are due to stump up […]
Please Forgive
Sri Lanka will ask the Paris Club group of foreign-creditor governments and the International Monetary Fund to allow it to delay debt payments to help it pay for reconstruction projects after the Dec. 26 tsunami. Sri Lanka will ask the Paris Club group of foreign-creditor governments and the International Monetary Fund to allow it to […]
Trick ‘n Treat
Top multilateral donors who are drawing up new financing plans for Sri Lanka’s post-tsunami period are due to stump up over US$ 500 mn in additional loans in the coming weeks, a joint statement said Tue.Top multilateral donors who are drawing up new financing plans for Sri Lanka’s post-tsunami period are due to stump up […]
Bad Line
Fitch Ratings International put incumbent network operator Sri Lanka Telecom’s senior unsecured local currency ‘BB’ rating on Rating Watch Negative, on account of possible bad debts accumulated on account of its overseas calling card unit. Fitch Ratings International put incumbent network operator Sri Lanka Telecom’s senior unsecured local currency ‘BB’ rating on Rating Watch Negative, […]
Tour packages combining sightseeing and aid work ruffles no local feathers.
Tour packages to Sri Lanka combining holidaying and aid work hasn’t ruffled many feathers, with tourism officials saying it can pay in the longer term.Tour packages to Sri Lanka combining holidaying and aid work hasn’t ruffled many feathers, with tourism officials saying it can pay in the longer term. New Zealand tour operator World Discovery […]
Euro Homes
Nations Trust Bank picked up a Rs.655 mn subordinated loan from a Dutch financial institution to give its fledgling housing loan portfolio a leg up.Nations Trust Bank picked up a Rs. 655 mn subordinated loan from a Dutch financial institution to give its fledgling housing loan portfolio a leg up. The rupee denominated loan (equivalent […]
Tsunami Tax Cut
The Tax Cluster will look at providing tax concessions for tsunami-donations and for reconstruction activity, says the Inland Revenue.The Tax Cluster will look at providing tax concessions for tsunami-donations and for reconstruction activity, says the Inland Revenue. “We have got requests for tax concessions on donations and for imports for reconstruction. We will discuss these […]
Steady Beat
Sri Lanka Insurance Corp. got its AA- (sri) rating re-affirmed by Fitch Ratings International, with a rating outlook of stable. Sri Lanka Insurance Corp. got its AA- (sri) rating re-affirmed by Fitch Ratings International, with a rating outlook of stable. Sri Lanka’s largest insurance company also offers policies in the Maldives and the coastal belts […]
Litmus Test
The coming week will show how much of the Jakarta pledges will materialise into hard cash, says visiting UN Chief Kofi Annan wrapping up a two day old tour of Sri Lanka’s tsunami ravaged southern and eastern coastal belts.The coming week will show how much of the Jakarta pledges will materialise into hard cash, says […]
Resting Under Protection
Insurance industry says impact on profitability will be small despite more than Rs.10 billion in tsunami related claims saying that they are adequately covered by reinsurance.Insurance industry says impact on profitability will be small despite more than Rs. 10 billion in tsunami related claims saying that they are adequately covered by reinsurance. However some in […]
Friend Or Foe?
Government creditors in the Paris Club are this week to consider a debt moratorium for Sri Lanka and Indonesia, two of the countries worst affected by last month’s tidal wave, although experts have questioned the usefulness to Jakarta of such a move. Government creditors in the Paris Club are this week to consider a debt […]
Aid Tsunamis
Waves of foreign assistance could tide over some of Sri Lanka’s macro economic troubles according to analysts. Waves of foreign assistance could tide over some of Sri Lanka’s macro economic troubles according to analysts. The Central Bank expects the balance of payments to show a surplus this year from a deficit of over US$ 200 […]