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‘s Basel III subordinated debt final A-
Dec 05, 2019 (LBO) – Fitch Ratings has assigned Nations Trust Bank PLC’s (NTB, A(lka)/Stable) proposed Basel III-compliant subordinated unsecured debentures a final National Long-Term Rating of ‘A-(lka)’. The final rating is the same as the expected rating assigned on 14 March 2019 and follows the receipt of documents conforming to information already received other […]
Mitra Innovation Director talks 2019 accomplishments & future plans
Dec 04, 2019 (LBO) – Director and Head of Mitra Products, Bivendra Narangoda, said the Company’s Product Business Unit has had a phenomenal 2019 with an amazing YOY growth of 38 percent smashing its financial targets, while bagging some amazing clients across the UK, Europe, and Asian regions. “2019 has been a testing year for […]
Ceylon Chamber optimistic that recent tax revisions will stimulate growth
Dec 04, 2019 (LBO) – The Ceylon Chamber of Commerce says they are optimistic that the revisions in taxes and levies announced by the government will stimulate the economy. The slew of tax proposals put forward as part of the stimulus package will revive economic growth and activity in the short-term, the Chamber said in […]
Colombo Innovation Tower aims to connect industries with startups, knowledge experts
Dec 04, 2019 (LBO) – The recently opened Colombo Innovation Tower (CIT) aims to bring together players from across diverse industries and disciplines to connect industries with startups, students and international knowledge experts. With Academy of Design (AOD), the most forward design catalyst in the country with its wide international network built over the years, […]
CA Sri Lanka Annual Report Awards: ComBank crowned winner, Hayleys second place
Dec 04, 2019 (LBO) – Commercial Bank was crowned the winner at the 55th Annual Report Awards winning the coveted ‘Cyril Gardiner Memorial Trophy’ for ‘Overall Excellence in Financial Reporting’ at the grand finale held yesterday at Shangri-La Hotel, Colombo. Hayleys PLC came in second place by winning the silver award, while the bronze award […]
Conservative manifesto contains distortion about Sri Lanka: SL Foreign Ministry
Dec 04, 2019 (LBO) – Sri Lanka’s Foreign Ministry says that they took immediate steps to make strong representation to the Co-Chair of the Conservative Party with regard to the distortion contained in the manifesto in its reference to Sri Lanka. As per the Foreign Ministry, this was conveyed through a letter by Sri Lanka’s […]
United States supports Sri Lankan efforts to reduce landslide risk
The United States donated landslide monitoring instruments to Sri Lanka’s National Building Research Organization (NBRO) to more effectively manage the risk of landslides in Nikgaha, Kalutara. As part of the initiative, engineers and geologists from the U.S. Geological Survey (USGS) visited Sri Lanka from November 5 to 15 to partner with Sri Lanka’s scientists on […]
Thomas Cook India acquires rights to Thomas Cook Brand for India, Sri Lanka & Mauritius
Dec 03, 2019 (LBO) – India’s leading integrated travel and travel-related financial services company, Thomas Cook India today announced it has signed an agreement with AlixPartners, Thomas Cook UK’s appointed Special Managers, to acquire the rights to the Thomas Cook brand in India, Sri Lanka and Mauritius for a one-time payment of GBP 1.5 Million. […]
‘s Basel III subordinated debt
Dec 03, 2019 (LBO) – Fitch Ratings is withdrawing the expected National Long-Term Rating of ‘AA-(EXP)(lka)’ assigned to Commercial Bank of Ceylon PLC’s (CB; AA(lka)/Stable) proposed Basel III-compliant subordinated unsecured debentures. The expected rating was assigned on 2 April 2019. Fitch is withdrawing CB’s expected rating as its forthcoming debt issuance is no longer expected […]
Swiss State Secretary asks SL to explain evidence against events described by embassy
Dec 03, 2019 (LBO) – Switzerland State Secretary Pascale Baeriswyl has asked Sri Lankan ambassador to explain the purported evidence against the events described by the embassy, which the Sri Lankan Foreign Ministry had alluded to in its press release. Following several demarches from the Federal Department of Foreign Affairs (FDFA) over the incident concerning […]