Daily News Online

Monday, 30 April 2012


| Business Editor: 0094 11 2429221 | Fax: 0094 11 2343694 | E mail: business@dailynews.lk |

Research covered 60 developing, emerging economies :

SL 22nd in Change Readiness Index

Sri Lanka was ranked 22 in the recently published based on research by KPMG and the Overseas Development Institute which offers a new and unique perspective on the ‘change readiness’ of 60 developing and emerging economies. The Change Readiness Index captures government capability and the capability of a country as a whole including the private sector and civil society to manage and respond effectively to change.

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Sri Lanka fields biggest contingent for ATM

Sri Lanka would field the biggest ever contingent of 51 private sector companies for the Arabian Travel Exhibition (ATM) which commences today at the City Convention Centre Dubai. Over 2,500 exhibitors from 87 countries will participate which is a 7% increase against the previous year.

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Pricing of U.S. Dollar Senior Notes due 2017

Boc’s historic $ 500 m bond issue:

The Bank of Ceylon (“BoC”) has priced its offering of US $ 500 million Senior Notes due 2017 (the “Notes”). The Notes were priced at a yield of 6.875% and the offering was oversubscribed by 7.7 times with total orders received amounting to US $ 3.86 billion. BoC intends to use the proceeds for general corporate purposes. The Notes issuance is the debut international bond issuance by BoC. Issuer and Issue Ratings for the Notes are B1 and BB- by Moody's and Fitch, respectively, with a stable outlook.

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OOPS! TOO BIG TO HANDLE: With peace returning after 30 years, paddy fields located in the final battle areas in Mullaitivu, called the Rice Bowl of Sri Lanka, have gathered a bumper harvest . This will facilitate Sri Lanka’s aim of exporting rice to overseas markets, and once again becoming the ‘Granary of the East’ after a lapse of several centuries. Our photographer Saliya Rupasingha captured this photo of farmers transporting
paddy at Mullaitivu.

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