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”s senior debt AA-(lka)(EXP)
Fitch Ratings Lanka has assigned People’s Leasing & Finance PLC’s (PLC, B/AA-(lka)/Stable) proposed senior debenture issue of up to LKR6 billion an expected National Long-Term Rating of ‘AA-(lka)(EXP)’. The debentures, which will have tenors of four and five years and carry fixed coupons, will be listed on the Colombo Stock Exchange. PLC expects to use […]
First Capital fostering bonds with regional clients
First Capital Holdings PLC, further expanded its branch network in an effort to forester stronger bonds with regionally based clients.During the last year First Capital added a new branch in Negombo to its existing network, while also re-locating offices in Kandy, Kurunegala and Matara to state-of-the-art, stand-alone branches providing value-added products and solutions to both […]
Ravi Dadlani to lead CEAT Kelani JV as new Managing Director
CEAT Kelani Holdings has announced the appointment of Mr Ravi Dadlani as Managing Director of the company with effect from 1st March 2018. PreviouslyVice President Sales, Marketing & Exports at CEAT Kelani, a company he has already served for 11 years, Mr Dadlani succeeds Mr Vijay Gambhire, who returns to CEAT Limited India on completion […]
Central Bank cancels CIFL license; legal action against responsible parties
Mar 05, 2018 (LBO) – Monetary Board of the Central Bank has decided to cancel the licence issued to CIFL under the Finance Business Act with effect from today. Director of the Department of Supervision of Non- Bank Financial Institutions of the Central Bank has also decided to cancel the Certificate of Registration as a […]
Not expecting rise in domestic interest rates: CB
Mar 05, 2018 (LBO) – Sri Lanka’s Central Bank responding to misleading news reports said it is not expecting a rise in domestic interest rates in the period ahead. “Based on its current projections, an increase in market interest rate is not expected in the near term,” the bank said issuing a statement regarding false […]
Techneed makes foray in to Sri Lankan IoT industry
Techneed (Pvt) Ltd., One of Sri Lanka’s growing high-tech IoT start-ups, today announced the deployment of its “Nurve IOT Gateway” in one of the largest Telecommunications Service Provider in Sri Lanka. Essentially the gateway enables the Service Provider to centrally monitor the environment variables in the Machine room, such as Temperature, Humidity, Movements, Water level, […]
The Shape of Water, wins big at 2018 Oscars
Mar 05, 2018 (LBO) – The 90th Academy Awards or the 2018 Oscars came to a close with “The Shape of Water” producers Guillermo del Toro and J. Miles Dale graciously accepting the best picture title. Guillermo del Toro also took home the Oscar for best directing. The shape of water also secured two other […]
Sri Lanka to establish accepted professional status for electricians
Mar 05, 2018 (LBO) – Sri Lanka’s power regulator said it will establish an accepted professional status for electricians in the country through accrediting their qualifications and experience. The proposed mechanism was developed by Public Utilities Commission of Sri Lanka (PUCSL) in collaboration with the Institution of Engineers Sri Lanka (IESL), Tertiary, Vocational Education Commission […]
Sri Lanka PM reiterates island on track for economic prosperity
Mar 05, 2018 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe said that the island is on the path of becoming an attractive place for business in South Asia and one of the fastest growing regions in the world. “We are undertaking many policy initiatives to incentivize direct private investment both foreign and local. In 2018, […]
SLT group EBITDA improved by 5.4-pct, increasing depreciation affected bottom line
Sri Lanka Telecom (PLC) released its Group and Company financial performance 2017 today. The group comprised of 8 subsidiaries including Mobitel (Pvt) Ltd. During the reporting year Group Operating Profit Before Depreciation and Amortization (EBITDA) improved by 5.4% to Rs. 21.2 bn. This improvement is a result of revenue growth and minimum escalation of operational […]