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Fitch rates DFCC Bank AA (sri)
Jan.20 (LBO) — Sri Lanka’s DFCC Bank retained its AA (sri) rating from Fitch Ratings Lanka Limited, for its senior unsecured long-term debt, the rating agency said Friday. Jan.20 (LBO) — Sri Lanka’s DFCC Bank retained its AA (sri) rating from Fitch Ratings Lanka Limited, for its senior unsecured long-term debt, the rating agency said […]
Rival Bid
Jan.21 (LBO) — Aviva, UK’s largest insurance giant’s serious interest in Eagle Insurance, is said to have triggered Friday’s unsolicited bid by John Keells Holdings and Carsons for a controlling stake in the small insurance firm, market sources said. Jan.21 (LBO) — Aviva, UK’s largest insurance giant’s serious interest in Eagle Insurance, is said to […]
Water Boost
Jan 21 (LBO) – Sri Lanka’s power utility is heading into the dry season with its reservoirs full, translating into savings on expensive thermal bills and no power shortages on the cards. Last week, Victoria, the country’s largest reservoir, spilled for the first time in over five years, and water levels are topping 80 percent […]
Ground Zero
Jan. 19 (LBO) – SriLankan Airlines has pushed back plans to launch its floatplane ferry service to the North, following increased violence in Jaffna and falling passenger numbers.Jan. 19 (LBO) – SriLankan Airlines has pushed back plans to launch its floatplane ferry service to the North, following increased violence in Jaffna and falling passenger numbers. […]
After the Eagle
Jan. 20 (LBO) – Sri Lanka’s John Keells Holdings and Carson Cumberbatch & Co. Ltd have made a joint offer to buy the controlling stake in Eagle Insurance from National Development Bank, a statement said Friday. Jan. 20 (LBO) – Sri Lanka’s John Keells Holdings and Carson Cumberbatch & Co. Ltd have made a joint […]
Promising Rates
Jan. 20 (LBO) – Sri Lanka is likely to have stable interest rates for at least six months, a top bureaucrat who is central to the country’s fiscal and monetary policies said Friday. “We think the Sri Lankan economy is still on a growing path and that growth should at least in the first six […]
Borrowing Cheap
Jan.20 (LBO) – Sri Lanka plans use its sovereign rating and issue up to a billion dollars in overseas bonds this year to pay for key infrastructure projects, Treasury Secretary P B Jayasundara said Friday.Jan.20 (LBO) – Sri Lanka plans use its sovereign rating and issue up to a billion dollars in overseas bonds this […]
Coal Options
Jan 20 (LBO) – Work on Sri Lanka’s first 300 MW coal plant is to start in March with Chinese funding, regardless of political pressure, the government said Friday. Jan 20 (LBO) – Work on Sri Lanka’s first 300 MW coal plant is to start in March with Chinese funding, regardless of political pressure, the […]
Sri Lanka vows talks amid bombs, Norway plays down hopes
Jan. 19 (AFP) – Four people were killed and 40 wounded in bomb attacks in Sri Lanka as Colombo vowed “every endeavour” to revive peace moves, while a top Norwegian envoy played down hopes of a breakthrough.Jan. 19 (AFP) – Four people were killed and 40 wounded in bomb attacks in Sri Lanka as Colombo […]
Sri Lanka’s trade gap widens 22%
Jan. 19 (LBO) – Sri Lanka’s trade deficit has widened by 22 percent to US$ 2.4 billion for the eleven months in 2005, though foreign remittances helped strengthen the island’s balance of payments, the Central Bank said Thursday Jan.19 (LBO) – Sri Lanka’s trade deficit has widened by 22 percent to US$ 2.4 billion for […]
Green Light
Jan. 19 (LBO) – Sri Lanka’s ageing rail-network could soon get a new extension, with policymakers this week agreeing to set up a unit to study the feasibility of the projects.Jan. 19 (LBO) – Sri Lanka’s ageing rail-network could soon get a new extension, with policymakers this week agreeing to set up a unit to […]
Building Muscle
Sri Lanka’s diversified John Keells Holdings Ltd.will push ahead with planned investments in leisure and property this year, but the group’s financial outlook may be impacted by progress in the country’s peace process, the company’s head of corporate finance and strategy said. Sri Lanka’s diversified John Keells Holdings Ltd. will push ahead with planned investments […]