Category:
Sri Lanka stock trades cancelled after technical glitch
Sep 19, 2011 (LBO) – Sri Lanka Colombo Stock Exchange (CSE) cancelled all orders and trades Monday after a technical problem halted trading soon after the opening. Turnover had been 1.8 billion rupees on Friday. “The Automated Trading System (ATS) experienced a hardware failure in the database servers shortly after the Open Auction today,” a […]
Debt Rating
Sept 19, 2011 (LBO) – Fitch Ratings Lanka has assigned Senkadagala Finance’s (SFC) proposed senior unsecured redeemable debentures of up to 300 million rupees a ‘BBB+(lka)’ rating. The agency has also confirmed and withdrawn the ‘BBB+(lka)’ rating on SFC’s proposed listed debenture issuance of a billion rupees scheduled to take place in March 2011 due […]
Financial Strength
Sept 19, 2011 (LBO) – Fitch Ratings Lanka has confirmed Citibank N.A. – Colombo Branch’s (CitiSL) national long-term rating at ‘AAA(lka)’ with a stable outlook. “CitiSL’s rating reflects Citibank N.A.’s (Citibank) financial strength,” it said in a statement. “Given that CitiSL is a branch and part of the same legal entity as Citibank, Fitch believes […]
Regulator Posts
Sept 19, 2011 (LBO) – Sri Lanka’s central bank has promoted three assistant governors, P Nandalal Weerasinghe, B D W A Silva and C Premeratne to the posts of deputy governor, a statement said. Weerasinghe and Silva were promoted with effect from September 27, 2011 and Premeratne is to be promoted with effect from January […]
False Papers
Sept 19, 2011 (LBO) – A Sri Lankan student seeking to study in the United Kingdom was arrested for fraud because she submitted a false education certificate with her visa application, the British high commission said. “They have also have been banned from travelling to the UK for ten years.” “The UK Border Agency referred […]
Fast Access
Sept 19, 2011 (LBO) – Sri Lanka Telecom, the island’s dominant fixed line operator, has commissioned a fibre optic network in the former northern war zone providing high speed links with the rest of the country and abroad. œThe launch of the i-Sri Lanka project helps bridge the divide between Jaffna and the rest of […]
Regulator Chief
Sept 19, 2011 (LBO) – Sri Lanka was re-elected to chair the Commonwealth Telecommunications Organization (CTO) at its 51st council meeting held in Trinidad and Tobago, the state information office said. Pelpita said Sri Lanka looked forward to working with Tim Unwin, the CTOs new chief executive and thanked outgoing CEO Ekwow Spio-Garbrah for his […]
Jaguar Land Rover to open engine plant in Britain
LONDON, September 19, 2011 (AFP) – Indian-owned luxury carmaker Jaguar Land Rover is to open a factory to build low-emission engines in Britain with the creation of up to 750 jobs, the company said on Monday. The £355 million (0 million, 560 million euros) facility will be based near Wolverhampton in central England, with work […]
‘s labour unease
NEW DELHI, September 19, 2011 (AFP) – India’s top automaker Maruti Suzuki, already grappling with sliding sales, is in a test of nerves with its factory workers after production was hit by a dispute over alleged sabotage. Output at the Japanese-controlled firm’s Manesar plant in northern India has been thrown out of gear for three […]
Sri Lanka will not take all advice that is given: CB Governor
Sept 19, 2011 (LBO) – Sri Lanka will not take all economic advice that is given but chart its own course based on a longer term path, Central Bank Governor Nivard Cabraal said amid concern over continued defence of the island’s dollar peg. “We’ve got to be very clear to the public, to the economic […]
Train Crash
September 17, 2011 (AFP) – At least three people including a Korean national were killed and about 25 injured near the Sri Lankan capital when a passenger train crashed into the back of another train, police said. Railway workers were still searching for passengers who might be trapped in the wreckage after the accident, which […]
” for Bangladesh
DHAKA, September 18, 2011 (AFP) – As Abdus Salam Murshedey strolls through his vast garment factory in Dhaka, hundreds of seamstresses stitch shirts for export shipments he says will be boosted by a relaxing of Indian import rules. Murshedey has built his company, Envoy Group, into a multi-million dollar firm with 18,000 employees on the […]