Category:
”’ by RAM
Mar 30, 2013 (LBO) – A ‘BBB’ long term rating of Sri Lanka’s Union Bank has been confirmed by RAM Ratings Lanka Plc, with a stable outlook. A ‘P3’ short term rating was also confirmed. “The ratings are supported by the Bank’s healthy capitalisation but tempered by its small stature, below average asset quality, performance […]
Sri Lanka combined cycles more expensive than diesel engines: data
Mar 30, 2013 (LBO) – Sri Lanka’s combined cycle power plants which are supposed to be efficient and cheaper have turned out to be more expensive than internal combustion plants, published data show. According to a consultation document released by the Public Utilities Commission, Sri Lanka’s power regulator, private plants running IC engines including Heladanavi […]
Cutting energy subsidies will slash carbon emissions: IMF
Mar 30, 2013 (LBO) – Cutting energy subsidies will slash carbon emissions while releasing resources for education and health, and helping boost the balance of payments of many countries, the International Monetary Fund has said. An IMF study Energy Subsidy Reform: Lessons and Implications has estimated that direct energy subsidies totaled about 480 billion US […]
Value Destruction
Mar 28, 2013 (LBO) – Sri Lanka’s transport sectors is estimated to contribute to 10 percent of the gross domestic product, but its shortcoming including accidents, traffic jams and delays cost 200 billion rupees, an expert has said.“However about 30 percent is lost due to accidents, congestion, lost time in public transport and damaged goods […]
Fourth Gen
Mar 28, 2013 (LBO) – Sri Lanka’s Dialog Axiata, which bought a slice of 1800MegaHertz band spectrum says it will launch fourth generation high speed mobile broadband services shortly. Dialog group operates Sri Lanka’s largest mobile network with 7.8 million subscribers with GSM, 3G and HSPA+ technology. Dialog says it was chosen as the internet […]
Sri Lanka nationalists attack Muslim-owned store
Mar 29, 2013 (LBO) – A Muslim owned shop in a suburb of Sri Lanka’s capital was torched amid growing Buddhist nationalist attacks against minorities, while police said security has been tightened and they were searching for the perpetrators. “A special police team in investigating the incident,” police spokesman Buddhika Siriwardena said. “We will bring […]
”’ rating confirmed: Fitch
Mar 28, 2013 (LBO) – Sri Lanka’s state-run Bank of Ceylon had high exposure to the state enterprise with Ceylon Petroleum Corporation making up 20 percent, though some of the loans were guaranteed, Fitch Ratings said. Bank of Ceylon’s capitalization has weakened with dividend payouts by dividend payouts, and high loan growth. “While slowing loan […]
‘s Bank of Ceylon to sell up to US$500mn in bonds
Mar 28, 2013 (LBO) – Sri Lanka’s state-run Bank of Ceylon would sell plans to sell between 300 to 500 million US dollars of bonds in the international market, a media report said. Bloomberg newswires said UBS has been hired to manage the sale. Fitch Rating has given a BB- expected rating to the securities […]
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 […]
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 […]
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 […]
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 […]