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Sri Lanka president vows to share power with Tamils to end bloodshed
Sri Lanka’s President Chandrika Kumaratunga has pledged to turn her embattled republic into a federal state and share power with minority Tamils in a bid to end decades of ethnic bloodshed, despite a rebellion in her own party. Sri Lanka’s President Chandrika Kumaratunga has pledged to turn her embattled republic into a federal state and […]
IMF warns Sri Lanka against busting budget targets
The International Monetary Fund Thursday warned Sri Lanka that it was dangerously busting budget targets and urged tough measures to slash subsidies and salvage the economy despite elections this year. The International Monetary Fund Thursday warned Sri Lanka that it was dangerously busting budget targets and urged tough measures to slash subsidies and salvage the […]
IMF urges tighter monetary policy to avoid sudden corrections in interest rates
The International Monetary Fund has urged Sri Lanka to aggressively tighten its monetary policy to avoid disruptive corrections in interest rates later in the year. The International Monetary Fund has urged Sri Lanka to aggressively tighten its monetary policy to avoid disruptive corrections in interest rates later in the year. New Page 4 The comments […]
Politicking the Sri Lankan way
Prime Minister Mahinda Rajapake’s campaign manager on Wednesday denied there were rifts between the ruling Bandaranaike family and their presidential candidate despite a bruising row that is already splashed in the national press. Prime Minister Mahinda Rajapake’s campaign manager on Wednesday denied there were rifts between the ruling Bandaranaike family and their presidential candidate despite […]
Commercial Bank’s upcoming debenture gets AA (sri) rating
Sri Lanka’s Commercial Bank’s upcoming billion rupee debenture issue secured an AA (sri) rating from Fitch Ratings Lanka, the agency said Wednesday.Sri Lanka’s Commercial Bank’s upcoming billion rupee debenture issue secured an AA (sri) rating from Fitch Ratings Lanka, the agency said Wednesday. The bank initially plans to raise Rs.1.0 billion with an option to […]
‘s upcoming debenture gets AA (sri) rating
Sri Lanka’s Commercial Bank’s upcoming billion rupee debenture issue secured an AA (sri) rating from Fitch Ratings Lanka, the agency said Wednesday.Sri Lanka’s Commercial Bank’s upcoming billion rupee debenture issue secured an AA (sri) rating from Fitch Ratings Lanka, the agency said Wednesday. The bank initially plans to raise Rs.1.0 billion with an option to […]
Ceylinco Developers hunts for Rs. 100 mn
Ceylinco Developers Ltd, promoters of the Millennium City township development project, is raising Rs. 100 million in debt to meet its ongoing expansion plans. Ceylinco Developers Ltd, promoters of the Millennium City township development project, is raising Rs. 100 million in debt to meet its ongoing expansion plans. The unsecured, unquoted subordinated three-year issue comes […]
Safe Landings
Domestic airlines will raise fares to Jaffna by Rs.2000, as almost all international airlines flying out of Colombo also slap on further fuel surcharges on Thursday.Domestic airlines will raise fares to Jaffna by Rs. 2000, as almost all international airlines flying out of Colombo also slap on further fuel surcharges on Thursday. Local airline regulator, […]
Losing Interest
Power generation company Lakdhanavi Limited will de-list from the Colombo Stock Exchange, after it listed four years ago to be eligible to bid for a power project. A fully owned subsidiary of Lanka Transformers, Lakdhanavi says its shares have not been traded since and its shareholders no longer want it to be publicly held. “We […]
Sri Lanka’s Commercial Bank to raise Rs. 1.5 bn in debt
Sri Lanka’s Commercial Bank of Ceylon is privately raising up to Rs. 1.5 billion through a five-year unsecured subordinated debenture to feed its medium term credit expansion, officials said Tuesday. Sri Lanka’s Commercial Bank of Ceylon is privately raising up to Rs. 1.5 billion through a five-year unsecured subordinated debenture to feed its medium term […]
Sri Lanka’s Central Bank raises policy rates
Sri Lanka’s Central Bank raised short term interest rates by quarter percentage point on Tuesday, the second increase in three months, in a bid to reign in galloping inflation Sri Lanka’s Central Bank raised short term interest rates by quarter percentage point on Tuesday, the second increase in three months, in a bid to reign […]
Norway’s new government offers to maintain Sri Lanka peace bid
Norway’s government-elect will offer to continue peace mediation efforts in Sri Lanka “in whatever manner the parties want,” top peace envoy Erik Solheim told AFP.Norway’s government-elect will offer to continue peace mediation efforts in Sri Lanka “in whatever manner the parties want,” top peace envoy Erik Solheim told AFP. “After the new government is formed […]