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‘s Arif Habib group keen to expand in Sri Lanka: official
Mar 28, 2013 (LBO) – Pakistan’s Arif Habib group which has a stock brokering unit in Sri Lanka is planning to expand into commodities and trade consultancy which can boost bi-lateral trade, an official said.The group has put an application to start a physical wholesale commodity business and bring in one million US dollars. “We […]
‘s inflation eases to 7.5-pct in March
Mar 28, 2013 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 7.5 percent in March 2013 from a year earlier, down from 9.8 percent in February, data from the state statistics office said. The non-food sub-index rose 3.5 percent from a year earlier. The index grew 0.3 percent in the month. The price […]
‘s Softlogic to sell Rs750mn in bonds
Mar 27, 2013 (LBO) – Sri Lanka’s Softlogic group is to sell up to 750 million rupees in three year fixed rate debentures, which will be used to re-finance short term debt, Fitch Ratings said. Fitch has given the debentures an ‘A-l(ka)(EXP)’ rating pending final documentations. Softlogic itself has been given an ‘A-(lka)’ rating. Fitch […]
Finance Debentures
Mar 27, 2013 (LBO) – Sri Lanka’s Central Finance Plc, a registered finance company will sell 2.0 billion rupees in fixed rate debentures, Fitch Ratings said. Key Rating Drivers CF’s ratings factor in its strong franchise and capitalisation, supported by robust profitability and its 55-year operating history. CF is one of the largest licensed finance […]
Sri Lanka mega projects may intensify human elephant conflict: researchers
Mar 27, 2013 (LBO) – Sri Lanka’s aggressive economic expansions into elephant country through recent projects may further aggravate human conflicts, which are already taking a toll on human and animal life, researchers and conservationists have warned. Driving elephants into reserves or transporting is not effective as they try to come back. Disturbing the habitat […]
”s first shipment to India
Mar 27, 2013 (LBO) – Sri Lanka’s second international airport in Mattala, has started cargo operations, with exporters offered a 10 percent discount, state-run SriLankan Airlines said.The first 900 kilograms of cargo made up garment accessories left for Chennai. SriLankan Airlines said cargo from Mattala will get a 10 percent discount and carriage to Colombo […]
China trade mission led by Yunan vice governor in Sri Lanka
Mar 27, 2013 (LBO) – A Chinese delegation led by Yunan province vice governor Ding Shaoxiang is arriving in Colombo today, which will help expand bilateral trade of 2.7 billion US dollars reached last year, the commerce ministry said. “This visit is a strong boost to the growing Lanka-China bilateral trade,” commerce and industry minister […]
India eases non-tariff barriers on Sri Lanka apparel, meat
Mar 27, 2013 (LBO) – India has raised a quota of Sri Lanka-made apparel and the validity of a sanitary permit for meat had been doubled giving more freedom for Indian nationals to buy goods from the island.Free Trade Agreements were then used to progressively give freedom to the poorer people to trade. Quotas and […]
Sri Lanka Treasuries yields up
Mar 25, 2013 (LBO) – Sri Lanka’s Treasuries yields rose at this week’s auction, held on Monday with the 12 month yield rising 11 basis points to 11.35 percent, data from the state debt office said. . The 3-month yield rose 04 basis points to 9.26 percent. Bids for 6-month bills have been rejected.Last week […]
Brew Bonds
Mar 25, 2013 (LBO) – Sri Lanka’s Lion Brewery will sell 3.0 billion rupees in unsecured debt with the firm expected to spend 5.0 billion rupees to upgrade plant over the coming year, Fitch Ratings said.In the current financial year it had spent 2.8 billion rupees. Fitch had given a ‘AA-(lka)’ expected rating to the […]
Spreading Fear
Mar 25, 2013 (LBO) – Mob violence in Sri Lanka against Muslims and Christians and emerging attacks and humiliation of Muslim girls for their dress by Buddhist nationalists, was spreading fear among minorities, Friday Forum, a citizens group said.“The failure of the police to act swiftly and effectively in enforcing the law has encouraged individuals […]
” by UN-ESCAP: Central Bank
Mar 25, 2013 (LBO) – Sri Lanka has been classed as ‘less indebted’ in five out of six debt indicators which assesses external debt vulnerability of a country, by the United Nations Economic Commission for Asia and the Pacific, the Central Bank said. There have been concerns over Sri Lanka’s rising commercial foreign debt, as […]