Category:
Credit Trends
June 11, 2012 (LBO) – Loans to private borrowers from commercial banks collapsed to just 18. 7 billion rupees in April 2012, from 55 billion rupees a month earlier, the lowest since June 2010, amid heavy state borrowing, official data showed. Loans to private borrowers from banks rose 34 percent from a year earlier to […]
Sri Lanka, Vietnam in move to boost tourism
June 11, 2012 (LBO) – Sri Lanka and Vietnam are planning to boost tourism between the two countries after a visit by Vietnamese travel firms to Colombo which will be followed by a familiarization tour by Sri Lankan travel agents, officials said. Udaya Silva, Sri Lanka’s IATA travel agents association said he expected mutually beneficial […]
Sri Lankan Airlines to join Oneworld alliance
June 11, 2012 (LBO) – Sri Lanka’s state-run SriLankan Airlines will join ‘oneworld’ next year with Cathay Pacific taking it through an implementation program as its sponsor, the global alliance of air carriers said. Sri Lanka’s capital Colombo is already served by oneworld members Cathay Pacific and Royal Jordanian, and member designate Malaysia Airlines. SriLankan’s […]
Debt Games
June 11, 2012 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation (CPC) has run debts of 65 billion rupees with other state entities by May 31 and talks are on to clear them with a Treasury bond, a minister has said. Petroleum minister Susil Premjayantha has told parliament furnace oil is still being sold to […]
Sri Lanka exports drop 9.2 percent April
June 11, 2012 (LBO) – Sri Lanka’s exports fell 9.2 percent to 680.1 million dollars in April, while the country’s import bill slipped 3.3 percent to 1,441.0 million dollars, due to slower sales of apparels and tea, official data showed. The bank said the average crude oil import price rose to 121.21 dollars per barrel […]
Sri Lanka tourism urges Europeans to ignore bad media reports
June 10, 2012 (LBO) – Sri Lanka’s tourism chief is urging European businessmen to ignore negative media reports in their home countries that highlight the island’s human rights record and may lose them investment opportunities. The Indian Ocean Island is experiencing a boom in tourists and leisure industry related-developments, three-years after government forces ended the […]
Deficit plugging Krugman slammed by Estonian leaders
June 10, 2012 (LBO) – Paul Krugman, an influential Nobel laureate who peddles a formula of deficit spending for rulers and currency depreciation for the people as tools of economic recovery, has received a set down from a small nation that did the exact opposite. In a New York Times blog post earlier this week, […]
” companies named by ILO
June 09, 2012 (LBO) – A survey by the International Labour Organisation has named seven Sri Lankan companies as having good practices in providing ‘green’ jobs that ensure decent work for employees and environmental sustainability. Use of ‘green’ sustainable initiatives was high among the 50 companies covered in the survey by the ILO and the […]
Sri Lanka flights by Thai AirAsia slashed
June 09, 2012 (LBO) – Thai AirAsia (TAA) has cut its newly launched flights to Sri Lanka to three a week from June following lower than expected demand on the Colombo Bangkok route, a media report said. But Sri Lanka is now attracting more tourists after the end of a 30-year war. TAA chief executive […]
Sri Lanka Cricket signs in new sponsors
June 09, 2012 (LBO) – Reebok, Pepsi, Elephant House and Jetwing Hotels have joined the list of new commercial partners to sponsor the Sri Lanka Cricket team, a statement said. The three-year contract was announced on Saturday, following a competitive bidding process earlier this year, Sri Lanka Cricket said. Reebok India, secured the official clothing […]
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June 08, 2012 (LBO) – Sri Lanka’s Fitch Ratings has given an ‘A(lka)’ rating to a planned 500 million rupee, senior unsecured debenture to be sold by Sampath Leasing and Factoring Ltd, with a positive outlook. The bond will pay a semi-annual fixed rate interest and will be repaid in the third and fourth year […]
Sri Lanka to choose lead managers for bond sale
June 08, 2012 (LBO) – Sri Lanka has received proposals from eight investment banks for a sovereign bond planned for the second half of 2012, which are being evaluated, Central Bank Governor Nivard Cabraal said. Though Sri Lanka has enough foreign reserves to easily repay the bond, analysts expect the 2012 bond sale to take […]