Category:
Credit Profile
Oct 26, 2011 (LBO) – Fitch Ratings Lanka has confirmed Pan Asia Banking Corporation’s (PABC) national long-term rating at ‘BBB(lka)’ with a stable outlook. PABC is a licensed commercial bank (LCB), 41% owned by a high net-worth businessman Mr. K.D.D. Perera and related parties. It accounted for 1.1% of LCB sector assets at end-2010 (2009: […]
Finance Company
Oct 26, 2011 (LBO) – Nation Lanka Plc, a listed company said Sri Lanka’s Central Bank has given approval for it to be registered as licensed finance company subject to several conditions. But interest rates are now moving up, amid defence of a dollar peg by the monetary authority. The firm had to put up […]
” tourism brand
Oct 26, 2011 (LBO) – Maldives has launched a new slogan ‘Always Natural’ and a thumbprint-styled logo highlighting the Indian Ocean tourist paradise’s natural assets. The logo has been designed to express the natural elements of the country formed in a thumb print incorporating various species of fish, dolphins and birds. “The previous slogan was […]
Refugee Death
SYDNEY, October 26, 2011 (AFP) – A Sri Lankan man died in Australian immigration detention, officials said Tuesday, with refugee advocates claiming he killed himself with poison after being refused permission to attend a Hindu festival. An immigration spokesman said the man died shortly after midnight at Sydney Immigration Residential Housing — a family compound […]
Killer whales migrate, study finds, but why?
PARIS, October 25, 2011 (AFP) – Some killer whales, a study published Wednesday shows for the first time, wander nearly 10,000 kilometres (6,200 miles) from Antarctica’s Southern Ocean into tropical waters — but not to feed or breed. Rather, these fearsome predators at the apex of the marine food chain traverse the sea at top […]
India looks to factories to create 100 mln new jobs
NEW DELHI, October 25, 2011 (AFP) – India’s government approved Tuesday a policy to boost the nation’s underdeveloped manufacturing sector, aiming to slash red tape and create special zones for firms in a drive to create 100 million jobs. Manufacturing accounts for just 16 percent of India’s agriculture-dependent economy, which is “a cause of concern,” […]
SriLankan Airlines gets new Airbus aircraft
Oct 26, 2011 (LBO) – A brand new Airbus 320 was added to the expanding fleet of Sri Lanka’s national carrier SriLankan Airlines Wednesday, a statement said. The new A320 has a seating configuration of 20 Business Class and 120 Economy Class and is equipped with the latest AVOD (Audio Video- On Demand) inflight entertainment […]
Boeing Dreamliner makes first commercial flight
HONG KONG, October 26, 2011 (AFP) – Boeing’s new 787 Dreamliner made its first commercial flight on Wednesday, giving a handful of deep-pocketed passengers the chance to fly into history on what is touted as an aviation breakthrough. With an average list price of 2 million, the plane is the firm’s first new design in […]
Sri Lanka to host 2013 Commonwealth summit: Australia
PERTH, October 26, 2011 (AFP) – Australia on Wednesday assured Sri Lanka there were no plans to strip it of hosting rights to Commonwealth talks in 2013 over war crimes allegations, but called for a UN probe into the claims. Prime Minister Julia Gillard raised the accusations in bilateral talks with President Mahendra Rajapakse in […]
Australia wants UN rights body to probe Sri Lanka
PERTH, October 26, 2011 (AFP) – Australia Wednesday urged the UN rights watchdog to probe alleged war crimes in Sri Lanka, ramping up pressure ahead of a meeting between the two countries’ leaders at Commonwealth talks. Australian Foreign Minister Kevin Rudd said the UN Human Rights Council must address accusations that Sri Lankan troops killed […]
Sri Lanka Treasuries yields rise
Oct 25, 2011 (LBO) – Yields on Sri Lankan treasury bills rose across maturities for the second straight week with only 5. 7 billion rupees of bids being accepted from the market after an offer to sell 12 billion rupees in maturing bills. The 03-month yield rose 05 basis points to 7.29 percent, the 6-month […]
Sri Lanka stocks end down 1.2-pct
Oct 25, 2011 (LBO) – Sri Lankan stocks closed lower Tuesday, losing half their gains in the last two days when shares had been pushed up in thin trade amid rumours of attempts to push out a regulator fighting equities fraud, brokers said. The main All Share Price Index fell 1. 22 percent (78.31 points) […]