Category:
Asset Backed
May 27, 2009 (LBO) – Fitch Ratings Lanka said it has confirmed People’s Leasing Co.Ltd. Trust 32’s (PLC32) 119.7 million rupee lease-backed trust certificates (LBTCs) at ‘A-(lka)’ with a stable outlook.A Loss Severity rating of ‘LS-3’ has been assigned, it said in a statement. “The affirmation is based on the uninterrupted payouts made to LBTC […]
Spell Check
May 27, 2009 (LBO) – The Sri Lankan chapter of the Chartered Institute of Management Accountants (CIMA) has launched the second season of Spellmaster, a spelling contest which it hopes will improve English spelling and vocabulary skills among school children. Being an avid reader from a very young age, I always referred the dictionary to […]
Trim Talk
May 27, 2009 (LBO) – Subscribers of Sri Lanka’s Hutch, a unit of Hutchison had dropped 44 percent to 772,000 in the year to March 2009 amid steep price cuts and an entry of a fifth operator to the market. Dialog, a unit of Telekom Malaysia and the island’s dominant mobile phone operator, said its […]
WHO mulls pandemic threshold as flu cases near 13,000
MEXICO CITY, May 27, 2009 (AFP) – Mexico reported two more swine flu deaths on Tuesday, as World Health Organization scientists asked if it had moved too quickly to declare the outbreak a pandemic.Authorities in Mexico said the death toll had risen to 85, and infected cases rose to 4,721 with scientists advancing through a […]
Rights diplomats struggle to find Sri Lanka compromise
GENEVA, May 27, 2009 (AFP) – The UN Human Rights Council reconvened its special session on Sri Lanka Wednesday with diplomats struggling to bridge an Asian-Western divide over the rights situation and a probe into abuses. Sri Lanka, backed by Asian countries including China, India and Pakistan, tabled a revised draft resolution late Monday which […]
Sri Lanka Janashakthi Insurance suspension lifted
May 27, 2009 (LBO) – Sri Lanka’s insurance regulator said it had lifted a suspension on the registration of Janashakthi Insurance from today, after the firm showed “sufficient cause”. Janashakthi said it last week it was making fresh proposals to meet the regulator’s concerns. “The Insurance Board of Sri Lanka has accepted the Company’s explanations […]
Sri Lanka confident of avoiding war crimes probe
May 27, 2009 (AFP) – Sri Lanka said Wednesday it was confident of averting an international probe into alleged war crimes committed during its offensive against the Tamil Tigers. At the council meeting, two draft resolutions have been put forward — each one at odds in their approach to the aftermath of the conflict. The […]
UN rights council divided over Sri Lanka probe
GENEVA, May 26, 2009 (AFP) – UN human rights chief Navi Pillay on Tuesday called for an international investigation into attacks on civilians during the final stages of the civil war in Sri Lanka.“There are strong reasons to believe that both sides have grossly disregarded the fundamental principle of the inviolability of civilians,” Pillay told […]
Sri Lanka planning credit scheme for the war-affected: CB Governor
May 27, 2009 (LBO) – Sri Lanka is planning a central bank re-financed credit scheme for people in former war-affected areas to allow people to rebuild their lives, Central Bank Governor Nivard Cabraal said. However Cabraal says re-financing would be within reserve money and inflation targets. “These people need help and society will have to […]
Sri Lanka may relax forex trading curbs from June: CB Governor
May 27, 2009 (LBO) – Sri Lanka may expand forex trading limits of banks from next month, Central Bank Governor Nivard Cabraal said, as the country emerged from a balance of payments crisis with the monetary authority becoming net dollar buyer. “If we did not buy the rupee would appreciate further,” Cabraal said. The rupee […]
Sri Lankan shares recover, rupee flat
May 26, 2009 (LBO) – Sri Lankan stocks ended up Tuesday, as investors were bullish on blue chips and hotel stocks, while the rupee was flat against the greenback and traded at 114.90/95 levels, broker and traders said. Dialog Telekom, Sri Lanka’s largest celco is a fully owned subsidiary of Telekom Malaysia. Development Finance Corporation […]
Tight Quarter
May 26, 2009 (LBO) – Sri Lanka’s Commercial Bank said group profits fell 12.9 percent to 892 million rupees in the March 2009 quarter, as its loan book shrank and the firm also changed the way it accounted for a troubled oil derivative sale. “In the future provisions will be provided after making an assessment […]