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Reimagining public transport in Sri Lanka
Apr 02, 2013 (LBO) – Last week, I had the opportunity to moderate a powerful expert panel on transport at the LBO-LBR CEO Forum. Below is a revised version of the note that I circulated to the panelists as a frame for discussion. March is the death anniversary of Sir Arthur C Clarke. The main […]
”’ rating confirmed, outlook cut: RAM
Apr 02, 2013 (LBO) – RAM Ratings Lanka has confirmed a ‘BB+’ rating of Bartleet Religare Securities (Pvt) Ltd, a stock broking joint venture between Sri Lanka’s Bartleet group and India’s Religare Capital Markets Limited, but cut its outlook to stable. RAM said the outlook was raised to positive in 2010 following the Indian tie […]
4G
Apr 02, 2013 (LBO) – Sri Lanka’s Dialog Axiata, a unit of Malaysia’s Axiata said it had launched commercial fourth generation mobile services in Colombo, making it the first in South Asia. Dialog’s service is based on frequency division – long term evolution standard (FD-LTE) technology requiring paired bandwidth for separate uplink and downlink channels. […]
Sri Lanka hydro power output up, demand weak
Apr 02, 2013 (LBO) – Hydro power generation has picked up sharply in Sri Lanka allowing state-run Ceylon Electricity Board to cut thermal power, while demand was barely growing in January 2013, official data shows.Total power generation in the month rose just 0.6 percent to 987 GigaWatt hours (millions of units of electricity) from a […]
Sri Lanka industries to get biggest subsidy after tariff hike
Apr 02, 2013 (LBO) – Industries will get an annual subsidy of nearly 15 billion rupees even after a tariff hike proposed from April, hotels will be marginally subsidized and customers classified as general purpose pay in excess of costs, an analysis by the regulator shows. A document prepared ahead of a public consultation scheduled […]
Sri Lanka exports slump 18.2-pct in Jan, trade deficit narrows
Apr 02, 2013 (LBO) – Sri Lanka’s exports fell 18.2 percent to 726.7 million US dollars in January 2013 from a year earlier, with apparel exports falling 8.9 percent to 333.9 million US dollars, Central Bank data showed.Sri Lanka has a trade deficit because domestic economic players get money abroad through means other than merchandise […]
Dialog Axiata Sukuk program gets Malaysia regulator nod
Apr 01, 2013 (LBO) – Sri Lanka’s Dialog Axiata has been given the nod to issue Shariah compliant Sukuk securities by Malaysia’s regulators, a filing in the Malaysian Stock Exchange on behalf of its parent said. Approval had been received from Sri Lanka’s central bank and SEC and also Malaysia’s central bank. Malaysia’s Securities Commission […]
Credit Trend
Apr 01, 2013 (LBO) – Heavy state borrowings from banks crowded out credit to private business to a 44-month low in January 2013, despite the monetary authority cutting policy rates, official data show.Commercial banks loaned 9.7 billion rupees to private borrowers in the month, the lowest since May 2010, when 7.2 billion rupees was loaned […]
Foreign Cash
April 01, 2013 (LBO) – Sri Lanka’s DFCC Bank has raised 45 million US dollars in a loan syndicated among Middle Eastern and Asian banks, lead arranger HSBC said. “DFCC’s success in this debut international loan syndication…demonstrates the strong level of confidence placed in the Bank and on the positive growth outlook for the country […]
Sri Lanka heath sector to be modernized with US$200mn from World Bank
Apr 02, 2013 (LBO) – A 200 million US dollar credit has been approved to develop Sri Lanka’s health sector to meet the challenges of emerging new diseases, the World Bank said. Injuries affect mainly the young male population and account for 15 percent of all registered deaths and for approximately 18 percent of all […]
Sri Lanka power regulator cuts penalties on late payers
Mar 31, 2013 (LBO) – Sri Lanka’s power regulator had directed state-run Ceylon Electricity Board to cut penalties on late payers and also halted penal interest accruing after disconnection. The CEB has also been directed to come up with a plan to pay interest on customer security deposits held by the power firm.The power utility […]
Sri Lanka consumer durables firm in rural push
Mar 31, 2013 (LBO) – Sri Lanka’s Dinapala group, a consumer durables distributor says electrification of rural areas is increasing the demand and the firm is also strengthening a network in former war torn areas. “This year we are going to expand in to another 10 branches, likewise we are targeting to open 10 branches […]