Category: Industry
Six-star Dilshan leaves India chasing leather
MUMBAI, December 2, 2009 (AFP) – Tillakaratne Dilshan smashed his sixth century this year to give Sri Lanka a solid start in the crucial third and final Test against India here on Wednesday.Dilshan made 109 as Sri Lanka, seeking a win to draw the series 1-1, battled a wicket with turn and bounce to pile […]
Developing countries agree on tariff-cut deal
GENEVA, December 2, 2009 (AFP) – Twenty-two developing and poor countries including emerging giants India and Brazil, on Wednesday agreed on a deal on cutting tariffs on the sidelines of a World Trade Organization meeting. “This is a very important step in south-south cooperation,” said Jorge Taiana, Argentinian Foreign Minister, who chaired the group. Under […]
Tele Risk
Dec 02, 2009 (LBO) – Sri Lanka has been rated the telecommunications market with the highest regulatory risk score in the Asia-Pacific region, according to a new survey by Fitch Ratings. It said Fitch’s Regulatory Risk Score provides an indication of how the regulatory environment impacts the ability of an operator to generate free cash […]
Developing countries urge Doha Round conclusion
GENEVA, November 29, 2009 (AFP) – Over 100 developing countries called Sunday for an “urgent” conclusion of negotiations for a world trade liberalisation pact, a day before a key World Trade Organisation ministerial conference.“The ministers of the G20 called for urgent action on the Doha Round,” according to a statement issued by G20 major developing […]
Sri Lanka high tariffs hurting investors, poor: US envoy
Nov 30, 2009 (LBO) – High import tariffs maintained by Sri Lanka not only deter investors but also hurt the poor, the American envoy to the island has said.High import tariffs and an economically-damaging tax system hurt not only individual companies, but economic growth in general, said US ambassador Patricia Butenis. “If a company here […]
” rating confirmed, outlook negative
Nov 30, 2009 (LBO) – Fitch Ratings Lanka said it has confirmed Hayleys MGT Knitting Mills’ (HMGT) National Long-term rating at ‘BBB+(lka)’ and lowered the outlook to negative from stable. Fitch said in a statement the fabric maker faces possible loss of duty free access to key European markets and expiry of a tax holiday […]
Leasing Upturn
Nov 30, 2009 (LBO) – People’s Leasing Company, Sri Lanka’s largest leasing firm, says demand for new leases is picking up with interest also from former war-torn regions, especially in the East of the country. “We think there is some appetite for credit now and we have witnessed some growth in credit and we are […]
Capital Strength
Nov 30, 2009 (LBO) – Fitch Ratings said it has confirmed the National Long-term rating of Sri Lanka’s Senkadagala Finance Company (SFC) at ‘BBB+(lka)’ with a stable outlook. “SFC’s ratings reflect the strong capital position it accumulated over periods of high profits,” the ratings agency said in a statement. “However, return on assets (ROA) saw […]
Going Green
Nov 30, 2009 (LBO) – A new port being built in Hambantota in southern Sri Lanka will use renewable energy for some of its power requirements, Sri Lanka Ports Authority chairman Priyath Wickrama said.“This is going to be green port,” he said. “We’re going to use solar power for all street lighting.It will be an […]
Sri Lanka MAS lingerie brand Amante to break even next year
Nov 29, 2009 (LBO) – A Sri Lanka launch may be on the cards within the next two years for MAS lingerie brand Amante, as the venture breaks even next year, led by its success in India. To break-even in three years is a huge achievement, said Ajay Amalean, Managing Director of MAS Corporate Solutions […]
‘s eco-tourism
Nov 27, 2009 (LBO) – A photographic exhibition in Colombo makes a case for Sri Lanka eco-tourism, encouraging visitors to experience the island’s rich biodiversity, within a renewed climate of peace in the country. The exhibition is on at the Alliance Francaise in Colombo until December 15, 2009. From Little Egrets in Mannar, Spinner Dolphins […]
Troubled Times
Nov 27, 2009 (LBO) – Sri Lanka’s The Finance Company, a firm in the troubled Ceylinco group that is being re-structured under regulatory supervision, has been downgraded to ‘C(lka)’ or one notch above default, Fitch Ratings Lanka said.Fitch said The Finance Company’s national rating and its subordinate debenture’s rating has both been downgrade to ‘C(lka)’.Both […]