Category: Industry
” 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 […]
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 […]
India thrash Sri Lanka to claim 100th Test win
KANPUR, November 27, 2009 (AFP) – India thumped Sri Lanka by an innings and 144 runs on the fourth day of the second cricket Test here on Friday to take a 1-0 lead in the three-match series. It was the 100th Test victory for India and the biggest against Sri Lanka, bettering the previous win […]
Sri Lanka worried by fading Murali magic
KANPUR, November 27, 2009 (AFP) – The indifferent form of spin legend Muttiah Muralitharan is a cause of worry going into the series decider in Mumbai, Sri Lankan captain Kumar Sangakkara said here on Friday.“It does bother us when our star bowler does not pick too many wickets when we know he can,” Sangakkara said […]
‘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 […]
Southern Chance
Nov 27, 2009 (LBO) – The Sri Lanka Ports Authority will issue a request for proposals for investments in a new port being built in the island’s southern Hambantota region by the second week of December, an official said.SLPA chairman Priyath Wickrama said business opportunities in the new port range from cement grinding and bagging, […]
Cheaper Calls
Nov 26, 2009 (LBO) – South Asian telecommunications regulators have decided to ask phone companies in the region to reduce international call charges, an official said.Priyantha Kariyapperuma, Director General of the Telecommunications Regulatory Authority of Sri Lanka, said the move, at a Colombo meeting of regional regulators, is intended to make overseas calls cheaper. All […]
India all out for 642 in second Sri Lanka Test
KANPUR, November 25, 2009 (AFP) – Venkatsai Laxman and Yuvraj Singh stroked half-centuries as India reached 642 all out shortly after tea on the second day of the second cricket Test against Sri Lanka here on Wednesday.Laxman (63) hit five fours on the way to his 41st Test half-century while Yuvraj cracked four boundaries and […]
‘s exports weak in September, deficit down
Nov 25, 2009 (LBO) – Sri Lanka’s exports fell 12.8 percent in September 2009 but imports fell at a steeper 36.1 percent shrinking the trade deficit 62.2 percent to 220.4 million US dollars, the Central Bank said. Remittances and net inflows of capital help expand the trade deficit while central bank’s contractionary sterilization activities which […]
Transport Trends
Nov 24, 2009 (LBO) – Vehicle imports to Sri Lanka in August 2009, measured by the total number of new registration of motor vehicles, fell 22.2 percent to 16,293 from a year ago, latest official data showed. The government lifted restrictions imposed towards the end of 2008 on import letters of credit for vehicles, amid […]