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Fitch Affirms Sri Lanka's People's Leasing at 'A-(lka)'

Fitch Ratings-Colombo/Singapore-26 January 2010: Fitch Ratings has today affirmed People's Leasing Company Limited's (PL) National Long-term rating at 'A-(lka)'. The Outlook is Stable. At the same time, the agency has affirmed the 'BBB+(lka)' rating on the company's LKR1bn subordinated debenture issue (which was to take place in 2008) and simultaneously withdrawn the issue rating.

Fitch Affirms Sri Lanka's Vallibel Finance Ltd at 'B+ (lka)'

Fitch Ratings-Colombo/Singapore-26 January 2010: Fitch Ratings Lanka has today affirmed Vallibel Finance Ltd.'s (VFL) National Long-term rating at 'B+(lka)'. The Outlook is Stable. ...
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FCF to Rebound in Asia-Pacific's Telecom Sector in 2010

Fitch Ratings-Seoul/Sydney/Singapore-: Fitch Ratings has today said in a just published report that the 2010 outlook for the overall Asia-Pacific telecom sector remains stable....
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Sri Lanka drops plan to relax forex rules

COLOMBO - Under pressure over accusations that ill-gotten money would be siphoned out, Sri Lanka's central bank has put the lid on a plan to allow a free flow of foreign currency in and out of the country. ...
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Lankans eye more imports from Bangladesh

Dhaka--Sri Lanka is looking to buy woven and knitwear items, raw rubber and plastic and jute goods from Bangladesh and joint ventures, a business delegation said on Sunday. ...
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NEW YORK TIMES RANKS SRI LANKA NO. 1 TRAVEL DESTINATION FOR 2010;

WASHINGTON – The New York Times has named Sri Lanka as the No. One travel destination worldwide in a ranking of “31 Places To Go in 2010.”...
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Gems Diamonds Jewellery bring Rs. 45 billion

The Gems, Diamonds and Jewellery industry has flourished in an unprecedented scale in exports bring huge revenue to the country....
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Dell appoints Softlogic Ltd as Authorised Distributor for consumer products in Sri Lanka

Dell Computers today announced the appointment of one of Sri Lanka’s leading information technology companies, Softlogic, as its Authorised Distributor for consumer products in Sri Lanka. ...
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Sri Lankan Hutchison unit to stay with group

Hutchison Telecom International's Sri Lanka unit will stay with the group, with new investments planned to increase coverage, while the parent is being de-listed from the Hong Kong stock exchange, an official said....
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Fitch Teleconference: Non-Japan Asia SF Outlook and Investor Sentiment Survey, 14 January, 15:00 HKT

Fitch Ratings-Hong Kong/Taipei/Singapore-13 January 2010: Fitch Ratings is scheduled to host a teleconference to share its non-Japan Asia (NJA) Structured Finance (SF) sector outlook for 2010 and the findings of its inaugural investor sentiments survey for NJA SF transactions on Thursday, 14 January 2010 at 15:00 HKT. ...
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SriLankan Airlines to be sold again?

The SriLankan Airlines is faced with a severe financial crisis and is reportedly unable to pay even the salary increments of the workers. The 10% salary increment that was agreed upon in the agreement between the management and workers is yet to be granted.

Sri Lankan industry introduces “Green Factories

In today’s world the consumer will increasingly decide to purchase goods, which are manufactured in an ethical manner and not the result of unethical or exploitative processes of production. Hence, many consumers will be socially aware that currently the environment faces many threats and will insist that the goods they purchase are produced in an environmentally friendly manner. It is also correct to say that in many western countries there is a conscious policy to introduce an eco friendly lifestyle.

Indian Education Expo’ on 27 & 28 March in Colombo

‘Indian Education Expo’, a massive endeavour to promote Indian education to Sri Lankan students will be held on 27 and 28 March 2010 at the Sri Lankan Exhibition and Convention Centre (SLECC). This fair is jointly organised by The Times of India – India’s largest circulated English Daily, and Introductions Trade Shows, a leading exhibitions organiser since 1983.

Fitch Affirms Sri Lanka's Aitken Spence's Senior Unsecured Notes at 'AA(lka)'

Fitch Ratings has today affirmed Sri Lanka's Aitken Spence PLC's (ASP) senior unsecured notes at National Long-term 'AA(lka)'. The Outlook is Stable.

Kingfisher to launch seven international routes

India’s second largest private carrier Kingfisher Airlines will launch seven international routes this summer, which include a daily non-stop flight between New Delhi and London starting March 28 and one between New Delhi and Hong Kong beginning April 7.

Tourism takes its toll on Prabhakaran’s home

What Vellupillai Prabhakaran, founder-chief of the Liberation Tigers of Tamil Eelam (LTTE), could not achieve in peace, he seems to have attained in death — a twisted popularity among some in the majority Sinhala community.

Raigam sees salty potential, announces Initial Public Offering

The Kingdom of Raigam has come forward to explore the Sri Lankan salt industry (run as an oligopoly), announcing an Initial Public Offering (IPO) of 80mn ordinary voting shares worth Rs 200mn at Rs 2.50 per share through its subsidiary company Raigam Wayamba Salterns Ltd, beginning March 23.

Malaysian investor Demak Manufacturing Lanka to manufacture motor cycles under BOI

The Board of Investment of Sri Lanka granted investment approval to Demak Manufacturing Lanka Limited. Mr. Dhammika Perera, Chairman / Director General signed the agreement on behalf of the BOI and formally presented the BOI Certificate of Registration to Mr. Gao Rong, Chief Executive Officer of DNC Asiatic Holdings SDN. BHD.

DHL Express opens new Air-side Gateway Facility at Bandaranaike International Airport

DHL Express today announced the opening of its new Air-side Gateway Facility inside the Bandaranaike International Airport, Katunayake -Terminal 3. The new DHL Gateway in Sri Lanka is one of the best in South Asia having the latest technology and material handling equipments.

China to loan Sri Lanka $290 mln for airport, railways

China has agreed to lend $290 million to Sri Lanka to build a new airport and revive its railway network, the foreign ministry said on Wednesday.
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Colombo News Desk CND