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Fitch rates Commercial Bank of Ceylon Basel III sub debt AA-(lka)(EXP)
Apr 02, 2019 (LBO) – Fitch Ratings has assigned Commercial Bank of Ceylon’s proposed Basel III-compliant subordinated unsecured debentures an expected National Long-Term Rating of AA-(lka)(EXP). The debentures will total up to 15 billion rupees, with maturities of five and 10 years, and carry fixed coupons. The debentures will qualify as Basel III-compliant regulatory Tier 2 […]
‘s Dialog Axiata at AAA(lka); outlook stable
Apr 02, 2019 (LBO) – Fitch Ratings has affirmed the National Long-Term Rating of Sri Lanka-based telecoms company Dialog Axiata at ‘AAA(lka)’ with a stable outlook. KEY RATING DRIVERS Mobile-Market Leader: Dialog’s standalone credit profile of ‘AAA(lka)’ is underpinned by its market leadership in the growing mobile and pay-TV market segments. We believe that Dialog […]
Vikas Arora assumes role of Sri Lanka’s Chief Country Officer of Deutsche Bank
Apr 02, 2019 (LBO) – Vikas Arora has assumed the role of Sri Lanka’s Chief Country Officer and General Manager of Deutsche Bank AG Colombo Branch effective 1 April 2019, in addition to his role as Head of Global Transaction Banking and Head of Global Subsidiary Coverage for Sri Lanka. The bank said in a […]
50 percent probability for a policy rate cut in April: First Capital Research
Apr 02, 2019 (LBO) – First Capital Research allocates a 50 percent probability for a policy rate cut in Apr 2019 as they are of the view that policy intervention is appropriate to address the overly sluggish economic growth.Sluggish sentiment in Sri Lanka’s economy has been a major concern with the latest GDP growth for […]
Emirates Skywards invites members to fly more and earn more
(PRESS RELEASE) – Emirates Skywards, the award-winning loyalty programme of Emirates and flydubai, is rolling out a new limited time offer for all new and existing Skywards members to boost their Miles. The offer is valid for Economy and Business class tickets booked on Emirates and flydubai between 20 March 2019 and 31 March 2019 […]
Opinion: The truth about Geneva Human Rights Council Resolution
By Finance Minister Mangala Samaraweera During the past few weeks, I have been watching the many headlines, debates, misinformation, misrepresentation of facts as well as self-congratulatory statements by some members of the delegation that went to Geneva to participate in the 40th session of the Human Rights Council where the High Commissioner for Human Rights […]
United Nations torture prevention body to visit Sri Lanka
Apr 01, 2019 (LBO) – United Nations Subcommittee on Prevention of Torture is set to carry out its first visit to Sri Lanka from 2 to 12 April to examine the treatment of people deprived of their liberty and the safeguards in place for their protection against torture and ill-treatment. The four-member delegation will meet […]
Sri Lanka Police Narcotics Bureau publicly destroys over 769 Kg of drugs
Apr 01, 2019 (LBO) – Over 769 Kg of narcotics which was seized by Sri Lanka’s security forces in the recent past destroyed at the Suraweera warehouse complex at Maguruwela in Kelaniya, today. The Police Narcotics Bureau destroyed the drugs as per the international standards and according to the environmental standards with the presence of […]
Rs.79,000 million loans disbursed under Enterprise SL Program
Apr 01, 2019 (LBO) – Sri Lanka’s Finance Ministry said it had disbursed 79 billion rupees to 46,673 persons under the Enterprise Sri Lanka loan scheme so far. The loan programme was launched in on June 21, 2018. The ministry says 20,286 loans had been given for housing under a scheme called ‘Sonduru Piyasa’ and […]
Huawei CEO and Founder expects revenue to touch USD125Bn in 2019
Apr 01, 2019 (LBO) – Ren Zhengfei, CEO and Founder of Huawei, recently said that 2019 could be a difficult year for Huawei, and however the company, is targeting US 125 billion dollars in revenue. Huawei has not released its total revenue for 2018 yet, but Eric Xu, one of the rotating chairmen at the technology […]