Category:
” by Fitch
Oct 14, 2009 (LBO) – An upcoming US dollar denominated sovereign bond issue by Sri Lanka which is due to mature in 2015 has been rated ‘B+’, in line with the country’s long term foreign currency rating, Fitch Ratings said. “A more robust revenue performance would provide greater fiscal flexibility in addressing post-war spending needs, […]
Sri Lankan shares becalmed, retailers take profits
Oct 14, 2009 (LBO) – Sri Lankan stocks closed flat Wednesday as retail investors took profits from an overheating market, while banking stocks made further gains, brokers said. “With the activity improving the market depth has improved giving rise to higher liquidity levels which is an additional catalyst to foreign investors,” Samarasinghe said. Touchwood Investments […]
Sri Lanka lures Indian tourists with Ramayana trail
Oct 14, 2009 (LBO) – A Sri Lankan tourism package called the ‘Ramayana trail’ that covers sites mentioned in a 2,000-year-old epic poem popular in south Asia is drawing droves of Indian visitors to the island, officials said. The number of tourists visiting the island has increased sharply since the end of its 30-year ethnic […]
Legal Advice
Oct 14, 2009 (LBO) – Sri Lanka’s Securities and Exchange Commission (SEC) said it had withdrawn charges of market manipulation case and issued a reprimand to a company director on the advice of the attorney general. The SEC withdrew charges against Mr. Harshith Dharmadasa subject to a severe reprimand with the sanction of Court recently […]
False Gold
Oct 14, 2009 (LBO) – Sri Lanka’s central bank has warned the public against persons claiming to have been authorized to sell gold belonging to the monetary authority, saying it is a scam. “The relevant authorities are now investigating these scams and steps will be taken by them to trace, identify and take the necessary […]
Outlook Lift
Oct 14, 2009 (LBO) – Fitch Ratings has lifted the outlook on Sri Lanka Telecom’s ‘B+’ foreign currency rating to ‘stable’ from ‘negative’ following the upgrade of the outlook of the sovereign rating. “Despite pressure on profitability due to intense competition and weak macroeconomic conditions in Sri Lanka, SLT’s cash generation continues to be strong.” […]
Indian Ocean nations conduct mass tsunami drill
ULEE LHEUE, October 14, 2009 (AFP) – Sirens wailed and crowds fled across Indian Ocean nations Wednesday in a mass drill simulating a giant tsunami similar to the 2004 disaster that killed about 220,000 people. The Hawaii-based Pacific Tsunami Warning Center and the Japan Meteorological Agency sent out bulletins for a 9.2-magnitude quake and tsunami […]
Sri Lanka firms lured by Hong Kong trade fairs
Oct 14, 2009 (LBO) – A Hong Kong trade fair organiser offering Sri Lankan companies like clothing exporters a chance to participate in shows says foreign buyers are returning to the market although orders are smaller.“Because of cash flow problems caused by the financial crisis they are keeping orders small.” The main exports from Hong […]
Sri Lanka asylum-seekers threaten to torch boat
BANTEN, October 14, 2009 (AFP) – More than 250 Sri Lankans seeking asylum in Australia have threatened to set fire to their boat if they are forced to disembark in Indonesia, an official said Wednesday.The Indonesian navy intercepted the boat with 255 men, women and children on board in the Sunda Strait and towed it […]
Dollar weakens, gold, oil, Euro soars
NEW YORK, October 13, 2009 (AFP) – The dollar faced more headwinds Tuesday and the euro leapt to a new 2009 high on the greenback, as rising economic confidence whetted investors’ appetite for the riskier assets. The euro earlier in the day fell as low as 1.4762 dollars after publication of Germany’s ZEW survey which […]
Sri Lanka stock close up 0.2 percent
Oct 13, 2009 (LBO) – Sri Lankan shares closed up 0.2 percent Tuesday, supported by banks extending gains, while NAMAL Acuity Venture Fund, a mutual fund, ended lower after yesterday’s debut, brokers said.Touchwood Investments closed at 92.75 rupees, up 75 cents, and Lanka Cement closed at 32.25 rupees, down 25 cents. Dialog Telekom, a unit […]
Sri Lanka new air cargo terminal to double capacity in Jan
Oct 14, 2009 (LBO) – A new terminal for export air cargo will open at Colombo’s Bandaranaike International Airport in January 2010 which doubling capacity at the airport, state-run SriLankan Airlines said. In July, SriLankan Cargo had commissioned a new SkyChain cargo handling system. The airline carries cargo on passenger aircraft and also has dedicated […]