Category: Industry
‘s Arif Habib group keen to expand in Sri Lanka: official
Mar 28, 2013 (LBO) – Pakistan’s Arif Habib group which has a stock brokering unit in Sri Lanka is planning to expand into commodities and trade consultancy which can boost bi-lateral trade, an official said.The group has put an application to start a physical wholesale commodity business and bring in one million US dollars. “We […]
Sri Lanka Mattala airport in bird strike
Mar 28, 2013 (LBO) – A state-run SriLankan Airlines flight has suffered a bird strike at Sri Lanka’s second international airport in Mattala after it opened, a media report said.The birds start arriving from around August during the northern hemisphere winter and leave in March and April. “Even near BIA there are two or three […]
Spectrum Auction
Mar 28, 2013 (LBO) – Sri Lanka’s Dialog Axiata has paid 3.2 billion rupees to buy a 10Mega Hertz block of spectrum in the 1,800MHz band which can be used for fourth generation high speed mobile broadband, telecom regulator Anusha Pelpita said. Mobitel and Etisalat had also participated in the spectrum auction by Sri Lanka […]
Shared Resources
Mar 28, 2013 (LBO) – Sri Lanka is allowing spectrum sharing and domestic roaming to promote shared resources and cut costs so that broadband tariffs can be kept low, the telecom regulator said. “We are allowing spectrum sharing,” director general of the telecommunications regulatory commission of Sri Lanka (TRCSL) Anusha Pelpita said. “We will not […]
Urban Transit
Mar 28, 2013 (LBO) – A bus rapid transit (BRT) solution could be implemented faster and at a much lower cost to prevent gridlock in Sri Lanka’s capital Colombo, while a more expensive rail based Metro system is built, , officials said. The state has been investing heavily in transport in recent years, but mostly […]
India eases non-tariff barriers on Sri Lanka apparel, meat
Mar 27, 2013 (LBO) – India has raised a quota of Sri Lanka-made apparel and the validity of a sanitary permit for meat had been doubled giving more freedom for Indian nationals to buy goods from the island.Free Trade Agreements were then used to progressively give freedom to the poorer people to trade. Quotas and […]
China trade mission led by Yunan vice governor in Sri Lanka
Mar 27, 2013 (LBO) – A Chinese delegation led by Yunan province vice governor Ding Shaoxiang is arriving in Colombo today, which will help expand bilateral trade of 2.7 billion US dollars reached last year, the commerce ministry said. “This visit is a strong boost to the growing Lanka-China bilateral trade,” commerce and industry minister […]
”s first shipment to India
Mar 27, 2013 (LBO) – Sri Lanka’s second international airport in Mattala, has started cargo operations, with exporters offered a 10 percent discount, state-run SriLankan Airlines said.The first 900 kilograms of cargo made up garment accessories left for Chennai. SriLankan Airlines said cargo from Mattala will get a 10 percent discount and carriage to Colombo […]
Finance Debentures
Mar 27, 2013 (LBO) – Sri Lanka’s Central Finance Plc, a registered finance company will sell 2.0 billion rupees in fixed rate debentures, Fitch Ratings said. Key Rating Drivers CF’s ratings factor in its strong franchise and capitalisation, supported by robust profitability and its 55-year operating history. CF is one of the largest licensed finance […]
Brew Bonds
Mar 25, 2013 (LBO) – Sri Lanka’s Lion Brewery will sell 3.0 billion rupees in unsecured debt with the firm expected to spend 5.0 billion rupees to upgrade plant over the coming year, Fitch Ratings said.In the current financial year it had spent 2.8 billion rupees. Fitch had given a ‘AA-(lka)’ expected rating to the […]
Vehicle Woes
Mar 24, 2013 (LBO) – Sri Lanka’s vehicle registrations hit new low of 23,544 in February 2013, down 44 percent from a year earlier, after taxes were hiked to curb imports, an analysis by an equities research house shows. Registrations of Maruti Zen models were down 88 percent in February 2013 from a year earlier […]
Tele Rating
Mar 22, 2013 (LBO) – Fitch ratings said it had confirmed a ‘BB-‘ rating of Sri Lanka Telecom with a stable outlook helped by its strong market leadership in fixed services and a number two position in mobile.“SLT’s ratings reflect its market-leading position in Sri Lanka’s fixed-line services underpinned by its monopoly in wireline and […]