Category:
Outlook Upgrade
Apr 01, 2011 (LBO) – Fitch Ratings Lanka has raised Ceylease Financial Services’ rating outlook to stable from negative and confirmed its ‘BB+(lka)’ rating. CFS’s total assets amounted to 1.5 billion rupees in 2010. The outlook revision reflects CFS’s improving financial profile, underpinned by better credit controls and more stringent recovery efforts, a statement said. […]
Director Controversy
Apr 01, 2011 (LBO) – Sri Lanka’s Commercial Bank of Ceylon has released a statement on the action led by state-connected shareholders to oppose the re-election of an independent director. 3. The Board wishes to clarify and re-iterate that Mr. Ranjit Fernando’s decision not to stand for re-election was his own independent decision and was […]
Forex Fine
Apr 01, 2011 (LBO) – Sri Lanka has fined Standard Chartered Bank 27 billion rupees, (245 million US dollars) under the country’s exchange controls laws for a capital transfer over a disputed oil derivative, a media report said. Sri Lanka’s Standard Chartered Bank, Citibank, Deutsche Bank and two local banks sold complex leveraged options positions […]
Remanded
March 31, 2011 (AFP) – Sri Lankan police remanded in custody on Thursday an employee of an anti-government website over allegations that he made threats to the brother of an arson suspect. Police spokesman Prishantha Jayakody said Bennet Rupasinghe, the Sri Lanka-based news editor of lankaenews.com, was arrested and remanded in custody until April 7. […]
India eases foreign investment rules
NEW DELHI, April 1, 2011 (AFP) – India has eased regulations governing foreign companies and their Indian joint venture partners as it seeks to halt a decline in direct foreign investment. Foreign companies with an existing joint venture in India will no longer need the local partner’s permission if they want to set up a […]
Sri Lanka private airline hit by road re-opening, state competition
Apr 01, 2011 (LBO) – Sri Lanka’s scheduled domestic private passenger air services to the north were forced to stop after the re-opening of road travel and competition from the air force, an official said. H M C Nimalsiri, director general of the civil aviation authority, said the island’s domestic aviation sector was small and […]
Sri Lanka mulls airport mono-rail, multi-storey car park
Apr 01, 2011 (LBO) – Sri Lanka is looking for investors to build a multi-storey car park and a hotel close to the international airport to which a mono-rail link is also envisaged, an official said. Johanne Jayaratne, executive director of Airports and Aviation Services (Sri Lanka), a state agency which operates airports, said the […]
Japan PM says stricken nuclear plant to be scrapped
SENDAI, March 31, 2011 (AFP) – Japan said Thursday its crisis-hit nuclear plant must be scrapped, but currently had no plans to evacuate more people, despite calls for a larger exclusion zone around the crippled facility. “At the moment, we do not have the understanding that it is necessary to evacuate residents there. We think […]
‘ forum
Apr 01, 2011 (LBO) – Sri Lanka’s Minister of Industry and Commerce has decided to revive a regular meeting with exporters which allowed them to air grievances and get speedy solutions for problems. The Exporters’ Forum will be conducted with the Export Development Board (EDB), a government agency tasked with supporting exporters. The decision to […]
Subcontinent dominates World Cup
NEW DELHI, April 1, 2011 (AFP) – A first all-Asian final in the World Cup’s 36-year history between India and Sri Lanka in Mumbai on Saturday underlines that familiarity breeds success. Never before have the subcontinental teams dominated the showpiece one-day event, as India, Sri Lanka and Pakistan all made it to the semi-finals for […]
Sri Lanka call up veteran Vaas as Murali sweats
March 31, 2011 (AFP) – Sri Lanka were sweating over the World Cup final fitness of Muttiah Muralitharan and Angelo Mathews on Thursday as 37-year-old seamer Chaminda Vaas and Suraj Randiv were called-up as cover. “Chaminda Vaas and Suraj Randiv will be included in the Sri Lankan squad for the World Cup final as cover […]
Sri Lanka editor release demanded by rights groups
April 1, 2011 (AFP) – International media rights groups Friday asked Sri Lanka’s government to release the editor of a pro-opposition news website, a day after he was remanded in police custody for a week. A total of 17 journalists and media employees have been killed in Sri Lanka in the past decade. Police arrested […]