Category:
Rate Signs
April 18, 2012 (LBO) – Sri Lankan shippers have had to pay higher freight rates after loss-making shipping lines succeeded in pushing through rate hikes but say rates might fall after the end of a cargo rush. “They have increased rates in March and April,” Gehan Kuruppu, president, Sri Lanka Shippers’ Council told LBO. Rates […]
Foreign Rating
Apr 18, 2012 (LBO) – Sri Lanka’s state-run Bank of Ceylon (BOC) has been given a ‘B1’ rating by Moody’s Investors services ahead of planned bond sale in international capital markets with a ‘stable’ outlook. The agency rated the bank’s local currency deposits ‘B1/NP’, foreign currency deposits: ‘B2/NP’ and foreign currency senior unsecured debt ‘B1’. […]
Maldivian President calls for early polls in July 2013
April 18, 2012 (LBO) – Maldivian President Mohamed Waheed on Wednesday called for presidential elections to be held ahead of time, in July 2013, after his favourites won two by-elections over the weekend. Waheed, who is accused by his predecessor of seizing power in a military-backed coup, said Saturday’s elections confirmed the democratic credentials of […]
Sri Lanka gets radio network for new international airport
April 18, 2012 (LBO) – A Chinese company building a new international airport in southern Sri Lanka has selected a radio network from Cassidian, a unit of the European Aeronautic Defence and Space Company (EADS). Known as Claricor, the radio system includes an Automatic Vehicle Locating function and is Cassidian’s product for small to medium-sized […]
Sri Lanka to grow 7.0-pct in 2012: ADB
Apr 18, 2012 (LBO) – Sri Lanka will grow 7.0 percent in 2012 with tighter monetary policy brought in to strengthen the exchange rate and cut inflation and will rebound to 8. 0 percent in 2013 the Asian Development Bank said. ADB’s, Sri Lanka chief Rita O’ Sullivan said the administration’s emphasis on boosting infrastructure […]
Sri Lanka Bank of Ceylon hires foreign banks to sell bond
Apr 17, 2012 (LBO) – Sri Lanka’s state-owned Bank of Ceylon has hired several foreign banks to arrange bond investor meetings in Asia, Europe and the US ahead of a planned new bond issue. It has hired Bank of America Corp. , Citigroup Inc. and HSBC Holdings to arrange bond investor meetings, Bloomberg news agency […]
Sri Lanka shares end down 0.4-pct
April 17, 2012 (LBO) – Sri Lankan shares closed weaker Tuesday with turnover beginning to pick up from low levels after a long holiday with interest still mainly on ‘penny stocks’, brokers said. Swarnamahal Financial Services, which has also been actively traded in recent days, closed flat at nine rupees. Seylan Developments also saw some […]
Bank Rating
Apr 17, 2012 (LBO) – Fitch Ratings has assigned Sri Lanka’s Bank of Ceylon (BOC) long-term foreign- and local-currency Issuer Default Ratings (IDRs) of ‘BB-‘ with stable outlooks. Fitch has also confirmed BOC’s national long-term rating and its outstanding subordinated debentures at ‘AA+(lka)’ with a stable outlook and ‘AA(lka)’, a statement said. Fitch has also […]
Sri Lanka tourist arrivals up 21-pct in March
Apr 17, 2012 (LBO) – Sri Lanka’s tourist arrivals rose 21.3 percent to 91,102 in March from a year earlier with arrival in the first three months up 21. 1 percent to 260,525, the state tourist promotion agency said. East Asian visitors were up 44. 3 percent to 10,148, with Malaysian arrivals up 47.3 percent […]
Traffic fatalities in Sri Lanka: Six a day
Apr 17, 2012 (LBO) – The headline of a popular Sinhala language daily on 16 April 2012 screamed that 18 people had died in road accidents over the three days of Avurudu. I sympathize with the families and friends of the people who died, but this really does not merit a banner headline. For the […]
‘s CPC lose Rs94bn in 2011
Apr 17, 2012 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation lost 94 billion rupees in 2011 up from 27 billion rupees a year earlier, largely due to below cost sales to a power utility, official data showed. Sri Lanka’s Central Bank in its annual report said a key reason for the loss was sales […]
Sri Lanka shares end up 0.2-pct
April 16, 2012 (LBO) – Sri Lankan shares closed firmer Monday after a long weekend owing to traditional new year holidays last week with trading still at low levels and focussed on ‘penny stocks’, brokers said. The main All Share Price Index rose 0.15 percent (8.27 points) to 5,434.00, while the more liquid Milanka index […]