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Interview: Sri Lanka’s national carrier eyes turnaround
Mar 02, 2016 (LBO) – SriLankan Airlines is poised for a shift in strategy, ranging from privatisation to network restructuring, in a bid to achieve sustained profitability, Ajith Dias, chairman of SriLankan Airlines told the Oxford Business Group. SriLankan Airlines has been faced with an increasingly difficult operating environment as rising competition, tighter margins and […]
Fitch downgrades SriLankan Airlines government guaranteed bonds to B+
Fitch Ratings has downgraded the rating on SriLankan Airlines Limited’s (SLA) US dollar-denominated government-guaranteed bonds to ‘B+’ from ‘BB-‘. This follows the downgrade of Sri Lanka’s Long-Term Foreign and Local-Currency Issuer Default Ratings to ‘B+’ with a Negative Outlook (see ‘Fitch Downgrades Sri-Lanka to ‘B+’; Outlook Negative’, dated 29 February 2016). The national carrier’s bonds […]
PTL Watch: Bond yields tick higher on thin volumes
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China positive on trade, investment says Malik after visit
Mar 02, 2016 (LBO) – China is positive about Sri Lanka’s prospects as a strategically located platform for trade, investment and tourism, a statement issued following Minister Malik Samarawickrama’s recent visit to China said. “They saw opportunities for strengthening bilateral cooperation and looked forward to Prime Minister Ranil Wickramasinghe’s visit to China in April to […]
‘s changes outlook on China credit rating to negative
Mar 02, 2016 (LBO) – Moody’s Investors Service has today changed the outlook to negative from stable on China’s government credit ratings, while affirming the Aa3 long-term senior unsecured debt, issuer ratings, and (P)Aa3 senior unsecured shelf rating. The key drivers of the outlook revision are: 1. The ongoing and prospective weakening of fiscal metrics, […]
Oil hits near two-month high on supply slowdown
Mar 02, 2016 (LBO) – Oil hit a near two-month high on Wednesday on the possibility that a global oversupply of crude oil has begun to shrink. Brent crude was trading at 36.65 dollars per barrel, down 0.43 percent, on Wednesday, a level last seen in early January. The global crude glut shrank by 12 […]
ETCA panic unfounded: Sujeewa Senasinghe
The proposed Economic & Technical Agreement (ETCA) with India needs to be viewed beyond the vilifying exaggerations made against it for quick political mileage-and contrary to the general perception, ETCA is not the umbrella agreement that decimates almost all services and professions in Sri Lanka, said State Minister of International Trade Sujeewa Senasinghe on 29 […]
Early wins for Clinton, Trump in nomination race
Mar 02, 2016 (LBO) – Hillary Clinton and Donald Trump both won several states in the race for US presidential nomination in results released so far. Trump clinched seven states Alabama, Georgia, Massachusetts, Tennessee, Virginia, Arkansas and Vermont, Ted Cruz won Texas and Oklahoma and Marco Rubio won Minnesota. On the side of Democrats, Hillary […]
Sri Lanka’s Central Bank to sell USD200mn worth development bonds
Mar 01, 2016 (LBO) – The Central Bank will issue 200 million US dollars of development bonds with a tenor of 3 months, 5 months, 1 Year and 2 Years 1 month to local and foreign investors. The Debt Department said the subscription will be at a floating rate of 6 month LIBOR for USD […]
MR reveals UNP conspiracy to destroy SLFP
I take pride in the fact that I built the strongest SLFP government in our party’s history during my tenure in power. That government was so strong that it could be defeated only by conspiratorially creating divisions in the party and a section of the SLFP joining the UNP in its campaign of vilification and […]
SINGER receives ‘named account status’ with Microsoft
SINGER Sri Lanka, achieved the named account status with Microsoft at a special occasion earlier this week. The event was graced by István Papp – Vice President Microsoft Asia Pacific, Brian Kealey- Country Manager – Sri Lanka & Maldives and Pubudu Basnayake – OEM Director – South East Asia New Markets from Microsoft and Asoka […]
LOLC opens trading at the CSE
Lanka ORIX Leasing Company PLC (LOLC) rang the opening bell to commence trading at the Colombo Stock Exchange (CSE) today. Mr. Vajira Kulatilaka, Chairman of CSE speaking at the event stated “We thank the LOLC Group for taking part in this market opening ceremony, which marks the first day of trading for the month of […]