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Newly merged NDB Bank retains its credit rating
The newly merged NDB Bank has retained its AA (sri) rating for its long-term unsecured senior debt from Fitch Ratings Lanka, the credit rating agency said Wednesday. National Development Bank and NDB Bank Ltd merged on Monday after nearly four years in the making. The combined force becomes the fifth largest bank in the country […]
Dialing Now
Incumbent fixed line operator Sri Lanka Telecom says it could be issued with a CDMA wilress services license as early as Thursday. Incumbent fixed line operator Sri Lanka Telecom says it could be issued with a CDMA wilress services license as early as Thursday. Telecom Chairman Anil Obeyesekere told reporters in Colombo on Tuesday that […]
VAT on luxury items goes up to 20%
Value Added Tax or VAT on the government list of luxury items went up from 18 percent to 20 percent from August 1, said the Inland Revenue. Value Added Tax or VAT on the government list of luxury items went up from 18 percent to 20 percent from August 1, said the Inland Revenue. “The […]
IMF bowls a googly to Sri Lanka
The International Monetary Fund on Wednesday urged Sri Lanka to restore the independence of its Central Bank, tighten monetary policy and urged cut backs in fuel subsidies, to maintain economic stability.The International Monetary Fund on Wednesday urged Sri Lanka to restore the independence of its Central Bank, tighten monetary policy and urged cut backs in […]
Pumping in fresh water post tsunami
The International Red Cross and Red Crescent Society will pump in some US$ 30 mn over two years to set up water treatment and distribution systems in tsunami affected area.The International Red Cross and Red Crescent Society will pump in some US$ 30 mn over two years to set up water treatment and distribution systems […]
Plug ‘N Play
Suntel Ltd., a unit of Sweden’s Overseas Telecom AB, has launched a pre-paid fixed line service with an eye to tap the low and middle income segments, officials said Tuesday.Suntel Ltd., a unit of Sweden’s Overseas Telecom AB, has launched a pre-paid fixed line service with an eye to tap the low and middle income […]
Securities watchdog drafts laws to regulate unquote debt issues
The securities watchdog is drafting new guidelines to regulate unquoted debt paper issued by listed companies, its Director General said Tuesday. The securities watchdog is drafting new guidelines to regulate unquoted debt paper issued by listed companies, its Director General said Tuesday. The move comes after the Securities & Exchange Commission recently mandated quoted companies […]
‘N Play
Suntel Ltd., a unit of Sweden’s Overseas Telecom AB, has launched a pre-paid fixed line service with an eye to tap the low and middle income segments, officials said Tuesday.Suntel Ltd., a unit of Sweden’s Overseas Telecom AB, has launched a pre-paid fixed line service with an eye to tap the low and middle income […]
Norwegian mediator puts work in Sri Lanka on hold
OSLO, Aug 1 (AFP) – A leading Norwegian mediator in the ongoing peace process in Sri Lanka said on Monday he would put his mediation work on hold to participate in Norway’s general election campaign next month. OSLO, Aug 1 (AFP) – A leading Norwegian mediator in the ongoing peace process in Sri Lanka said […]
Sri Lanka picks Citigroup as sovereign rating advisors
Sri Lanka has picked Citigroup N. A. as an advisor for its upcoming sovereign rating, the Central Bank said Monday. Sri Lanka has picked Citigroup N. A. as an advisor for its upcoming sovereign rating, the Central Bank said Monday. The country rating is being carried out on the recommendation by the Sovereign Rating Steering […]