Category:
‘s tea crop falters in July
August 31, 2006 (LBO) – Sri Lanka’s tea output dipped 5.7 percent for the seven months to July but earned 50.89 million rupees by shipping the brew to overseas buyers over the same period last year, a commodity broker said. Production of Kenya’s largest export crept up 2.9 million kilos to 23.7 million kilos in […]
Just Inquiring
August 31, 2006 (LBO) – Sri Lanka Telecom is in talks to acquire a small software company to beef up its technical capacity and expand revenue streams. The island’s biggest fixed line operator plans to do a due diligence on eServices Lanka Ltd, SLT chief executive Shuhei Anan said Thursday. eServices Lanka Ltd is jointly […]
Bus Ride
SEOUL, Aug 31, 2006 (AFP) – South Korea’s high-tech giant Samsung Electronics on Thursday unveiled the world’s first fourth-generation (4G) mobile technology with a demonstration on a bus.Samsung said the new technology, an upgraded version of existing wireless communications platforms, would enable users to download 100 MP3 music files in less than 3 seconds — […]
Ford wants to sell Aston Martin
DEARBORN, Michigan, Aug 31, 2006 (AFP) – Troubled US auto giant Ford Motor Co. said Thursday it was looking to sell its British sports marque Aston Martin. Chief executive Bill Ford said that as part of its strategic review, the US company had decided that Aston Martin “may be an attractive opportunity to raise capital […]
Sri Lanka demands proof of massacre charges
COLOMBO, Aug 31, 2006 (AFP) – The Sri Lankan government demanded proof Thursday of allegations by Nordic truce monitors that security forces were responsible for the massacre of 17 aid workers of a French charity. “It is premature to blame the government without any supporting evidence,” Sri Lankan government spokesman Keheliya Rambukwella said in Colombo. […]
11,000 Tamils flee to India to escape Sri Lanka fighting
CHENNAI, India, Aug 31, 2006 (AFP) – More than 11,000 Tamil refugees have fled to India since January to escape renewed fighting between the Sri Lankan army and separatist rebels and more are likely to come, officials said Thursday. The figure includes a batch of about 500 refugees who travelled by boat to reach Mandapam […]
Blair meets Sri Lanka leader amid Tamil turmoil
LONDON, Aug 31, 2006 (AFP) – British Prime Minister Tony Blair met Sri Lankan President Mahinda Rajapakse on Thursday for private talks on the political situation in Sri Lanka, a spokeswoman for Blair said.Rajapakse has said he was ready for unconditional talks with the Tigers and described the current military action against the rebels as […]
‘s inflation hits 15.3% in July
August 31, 2006 (LBO) – Sri Lanka’s consumer prices jumped to 15.3 percent in July, the Census & Statistics Department said Thursday, as prices of bread, fuel, cinema tickets rose to offset lower costs of vegetables. As a result the Colombo Consumer Price Index or CCPI ended at 4,650.0 in July. Prices of bread, wheat […]
Commercial Leasing Company secures A-(lka) rating
August 30, 2006 (LBO) – Commercial Leasing Company Ltd’s senior debt has been rated A-(lka) by Fitch Ratings Lanka Ltd, the agency said Wednesday. The rating outlook is ‘stable’, the agency said adding that it also rides on the strength of company’s key shareholders: • Commercial Bank – rated AA+(lka) • Chemanex Ltd • Singer […]
DFCC Bank taps debt market for funds
August 30, 2006 (LBO) – Sri Lanka’s DFCC Bank plans to raise up to two billion rupees in debt capital to meet its long term credit expansion. The privately placed issue carries an AA-(lka) rating from Fitch Ratings Lanka with tenures ranging from five to 10 years. The unsecured subordinated redeemable debenture issue will be […]
Senkadagala Finance retains BBB+(lka) rating from Fitch
August 30, 2006 (LBO) – Sri Lanka’s Senkadagala Finance Company Ltd retained its ‘BBB+(lka)’ rating from Fitch Ratings Lanka, the agency said Wednesday. The rating carries a ‘stable’ outlook and Fitch said they have also retained the same rating for Senkadagala’s four-year debenture ending in 2009. The rating reflects the family owned company’s good asset […]
Air Pocket
GENEVA, Aug 30, 2006 (AFP) – The world’s top airline association on Wednesday predicted a dip in air travel due to the British terror alert this month, but said the prospects for the sector were nevertheless bright.The incident also prompted tougher restrictions on hand luggage worldwide and boosted security checks on passengers.“While we expect to […]