Author: LBO
Sri Lanka’s inflation rate climbs to 13.2% in May
May 31, 2006 (LBO) – Sri Lanka’s inflation rate for May rose as short supplies of consumer eatables like cream cracker biscuits, rice, bread, red onions, milk tea, fresh milk and dried chillies pushed prices up, the Census & Statistics Dept. said Wednesday. On a point-to-point basis inflation for May rose 13.2 percent over 9.2 […]
Fitch upgrades Hatton National Bank’s credit outlook
May 31, 2006 (LBO) – Hatton National Bank Ltd, the island’s fourth largest lender in terms of assets, got its credit profile upgraded to ‘A+(lka)’ by Fitch Ratings Lanka. With a positive outlook, the upgrade also elevates HNBs subordinated debt to ‘A (lka)’ from ‘A-(lka)’, the rating agency said Wednesday. Fitch gave HNB good marks […]
EU puts Sri Lanka’s Tamil rebels on terror list
BRUSSELS, May 30, 2006 (AFP) – The European Union put Sri Lanka’s Tamil Tigers on its list of terrorist groups on Monday, despite a warning from the rebels that the move could force them back to war.The EU ban, agreed in principle on May 18, was made official at a meeting of ministers from the […]
Sri Lanka’s Lanka Orix Leasing gets A (lka) rating
May 29, 2006 (LBO) – Sri Lanka’s pioneering leasing firm Lanka Orix Leasing Company has secured an ‘A (lka)’ credit rating from Fitch Ratings Lanka. Part Japanese owned, LOLCs credit outlook is stable, the rating agency said Monday. “The rating takes into account the less diversified funding sources available to specialised leasing companies such as […]
Norway peace envoy says ‘major crisis’ looming in Sri Lanka
NEW DELHI, May 27, 2006 (AFP) – Norway’s top peace envoy to Sri Lanka, Eric Solheim, said Saturday a major crisis was brewing in the tropical island and that it could be headed back to full-scale civil war. Norway was committed to its role as facilitator despite the problems in the situation, he said. “We […]
EU likely to put Sri Lanka’s Tamil Tigers on its terror list Monday
VIENNA, May 27, 2006 (AFP) – The European Union is expected to put Sri Lanka’s Tamil Tigers on its list of terrorist groups next week, a spokesman for the EU’s Austrian presidency said Saturday. The Palestinian group Hamas, the Kurdistan Workers’ Party (PKK) and the armed Basque separatist group ETA are on it.The EU move, […]
Singapore’s Banyan Tree launches IPO
SINGAPORE, May 26, 2006 (AFP) – Singapore-based luxury resort and spa chain the Banyan Tree on Friday launched an initial public offering (IPO) worth up to 407 million Singapore dollars (259 million US). The resort and spa chain is issuing some 380 million shares at a maximum price of 1.07 dollars each and will make […]
Behave or you’re history, Nepal’s finance minister warns king
KATHMANDU, May 26, 2006 (AFP) – Humbled King Gyanendra must “behave” or he has no future even as a ceremonial monarch, Finance Minister Dr Ram Sharan Mahat told AFP, revealing a royal spending spree before absolute rule was brought to an end.Gyanendra’s conduct had been “very good” in the month since he relinquished his 14-month […]
Sri Lanka’s World Trade Centre bans cars on bomb fears
May 25, 2006 (AFP) – Sri Lanka’s twin-tower World Trade Centre banned vehicles Thursday fearing a car bomb attack by Tamil separatist rebels, police and tenants of the complex said.As part of stepped-up security measures, the 39-storey office complex in the heart of Colombo blocked all vehicles from entering, Colombo’s police chief Pujith Jayasundara said. […]
Malaysia’s Proton in talks with China’s Chery
KUALA LUMPUR, May 24, 2006 (AFP) – Malaysian carmaker Proton said Wednesday it is in talks with Chinese manufacturer Chery on a deal to assemble and distribute Proton and Chery models in China, Malaysia and elsewhere in Southeast Asia.Proton said in a statement that the two firms would work on a feasibility study over the […]
Narrow strip of land is Sri Lanka’s flashpoint
MUHAMALAI, Sri Lanka, May 23, 2006 (AFP) – A narrow strip of land in Sri Lanka’s northern peninsula of Jaffna is a flashpoint that could ignite a new war in the country, according to senior military commanders. “Tension is very high, very high,” the officer told AFP on Monday.“Anytime, this can accelerate.” In the past […]
Sri Lanka banks on Europe to tame Tigers amid ‘major war’ threat
May 22, 2006 (AFP) – Sri Lanka was banking on the European Union to tame Tamil Tiger guerrillas as the rebels warned that the killing of their top intelligence operative could force them into a “major war.” Scandinavian truce monitors have said that the February 2002 truce now existed only on paper.The rebel Liberation Tigers […]