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‘s top textile firm to raise 102 mln dlrs for expansion
DHAKA, Oct 2, 2006 (AFP) – Bangladesh’s biggest textile manufacturer said Monday it would raise 102 million dollars abroad to finance expansion into high value-added textiles.The company would raise 51 million dollars by issuing global depository receipts (GDRs) in foreign capital markets and another 51 million dollars through overseas bonds and shares to sponsors, the […]
Talks underway to revive Sri Lanka peace bid
Oct 2, 2006 (AFP) – A Norwegian envoy held talks Monday with top Sri Lankan government officials aimed at reviving the island’s stalled peace process and ending an upsurge in ethnic bloodshed.Government officials said Colombo hoped the envoy’s visit could lead to a breakthrough in finalising dates for talks with the Liberation Tigers of Tamil […]
Gold Twist
October 1, 2006 (LBO) – In another twist to the continuing GoldQuest controversy, remaining officials of the anti-pyramiding unit, that probed the GoldQuest case have been transferred for better career prospects, and to complete other urgent work, senior central bank officials said. “We established the Unit to carry out investigations without disrupting the work of […]
Norwegian envoy resumes Sri Lanka peace bid
Oct 1, 2006 (AFP) – Sri Lanka’s peace broker Norway is set for a fresh attempt to end a seven-month deadlock in talks after the warring parties agreed to meet, diplomats said Sunday. Special envoy Jon Hanssen-Bauer will begin meetings with political leaders on Monday during a four-day visit aimed at jump-starting stalled negotiations between […]
‘s end: state paper
Oct 1, 2006 (AFP) – Sri Lanka’s president has asked his party to prepare for general elections before year’s end if the main opposition fails to back his minority government, a state-run newspaper said Sunday.President Mahinda Rajapakse has summoned members of his Sri Lanka Freedom Party and asked them to get ready for elections, the […]
‘s top job
Sept 30, 2006 (AFP) – Sri Lanka’s candidate has pulled out of the race to succeed Kofi Annan as UN secretary general and the country has thrown its backing behind South Korea’s Ban Ki-Moon, officials here said Saturday.Jayantha Dhanapala announced his withdrawal after finishing last in three informal polls among members of the UN Security […]
US charges six with shipping arms to Tamil Tigers, Indonesia
WASHINGTON, Sept 29, 2006 (AFP) – US authorities said Friday they had charged six Asian men with conspiracy to ship arms, including submachine guns and sniper rifles, to Sri Lanka’s Tamil Tigers and unnamed customers in Indonesia.The men, arrested in Guam, are accused of acting as brokers between weapons manufacturers and the Tigers, which is […]
Fresh violence claims 18 lives in Sri Lanka
Sept 30, 2006 (AFP) – Sri Lankan police commandos killed 15 Tamil Tiger rebels who attacked their camp in the east of the country on Saturday, while three constables died in other violence.The defence ministry said the guerrillas attacked the Pullumalai camp of the police’s Special Task Force (STF) early Saturday. “The STF had good […]
New Ball
September 30, 2006 (LBO) — Ceylon Petroleum Corp. (CPC) Chairman Jaliya Medagama resigned Saturday citing personal reasons. Medagama will be succeeded by ex-cricketer Asantha de Mel. De Mel, who is currently the chairman of CPCs oil storage and distribution facility, is also believed to have close links with President Mahinda Rajapakse. In July, petroleum trade […]
Fitch affirms NDBs AA(lka) rating post merger with NDB Housing
Sept 29, 2006 (LBO) – Fitch Ratings Lanka Friday affirmed its AA (lka) rating for NDB Bank following its merger with NDB Housing Bank. NDB tookover the assets and liabilities of NDB Housing Bank on Sept 1 after securing the blessings of Sri Lanka’s Central Bank. The merger helps NDB Housing to overcome Central Bank’s […]
Fitch rates The Finance Company’s Rs500 mn debentures BBB-(lka)
Sept 29, 2006 (LBO) – The Finance Company Ltd (TFC) gets ‘BBB- (lka)’ national long-term rating from Fitch for its upcoming 500 million rupee 5-year unsecured subordinated redeemable debentures.The Finance’s senior debt currently carries a BBB (lka) from Fitch. As at June, 76 percent of TFC’s funding portfolio had maturities less than a year and […]
Small Print
September 29, 2006 (LBO) – Commercial Bank of Ceylon secured a AA(lka) for its upcoming 1.5 billion rupee debenture, with Fitch Ratings asking the bank to match its growth with capital. Sri Lanka’s biggest private bank in terms of assets, Commercial Bank is raising debt with maturities ranging from 5-10 years to meet upcoming expansion […]