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‘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. […]
Sri Lanka rubber exporter hit by falling prices
Sep 09, 2013 (LBO) – Sri Lanka’s Eastern Merchants, a rubber export firm said it lost 17 million rupees in the year to March 2013, from a profit of 105 million rupees a year earlier as world rubber prices dropped.Car sales in India had plunged 20 percent and listed Indian tyre companies had also performed […]
”s Avic
Sep 09, 2013 (LBO) – Sri Lanka’s Lee Hedges Plc is seeking shareholder nod to sell land worth 1.24 billion rupees to a Chinese led mixed development project. Lee Hedges said it is selling 181 perches of land (about 1.2 acres) to Avic International Hotels Lanka Ltd, promoted by Chinese defence contractor Avic. The firm […]
” 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 […]
New India central bank chief may face short honeymoon
NEW DELHI, September 8, 2013 (AFP) – The euphoria which greeted new central bank governor Raghuram Rajan has been unprecedented in India’s normally sober financial world but the honeymoon may be shortlived.In fact, Rajan’s comments suggest he is likely to be “more hawkish”, said CLSA economist Rajeev Malik said. The former top finance ministry advisor […]
Nasheed faces tricky run-off in Maldives election
MALÉ, September 8, 2013 (AFP) – The ex-leader of the Maldives, Mohamed Nasheed, faced disappointment Sunday after failing to secure a majority in presidential polls he hoped would seal his return to power 18 months after he was toppled.Nasheed now faces a tricky run-off election on September 28 after he won the first round of […]
Arrested
COLOMBO, September 7, 2013 (AFP) – Sri Lankan police have arrested a navy officer suspected of involvement in smuggling people in fishing boats to Australia, officials said Saturday. Australia announced tough new measures in mid-July to discourage illegal boatpeople. Since then, local police have apprehended three boats and detained 300 Sri Lankans, including 56 women […]
Sri Lanka Muslim leader warns against extremism claims
COLOMBO, September 6, 2013 (AFP) – Sri Lanka’s main Muslim political leader, who is also the justice minister, criticised his own government Friday for blaming religious tensions in the mainly Buddhist nation on Islamic fundamentalism.Rauf Hakeem said he had been “disturbed” by recent comments from the country’s defence secretary, Gotabhaya Rajapakse which warned of efforts […]
Opposition Warning
Sept 06, 2013 (LBO) – Sri Lanka’s main opposition has warned that several finance companies are taking public deposits without meeting minimum statutory requirements, saying action was needed prevent disasters. “It is well known to the regulators and financial analysts that several finance companies who are still taking public deposits are on the verge of […]
Sri Lanka offered hi-tec dairy farm by Dutch firm
Sept 06, 2013 (LBO) – A Netherlands based company has offered to set up a hi-tec dairy farm with processing facilities with high yield milch cows, provided suitable land with fresh water is made available, officials said. Velema Holdings, a Netherland based investment firm, is offering to put together a turnkey dairy facility if about […]
‘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 […]
Clear Message
PARIS, September 4, 2013 (AFP) – Big anti-smoking messages on the front of cigarette packets may help deter youngsters tempted by tobacco but have little effect when they are on the back of the pack, research has found. Touching on a subject that has stirred controversy in countries where pro- and anti-tobacco lobbies are fighting […]