Author: lbostgadmin
Fitch affirms 10 Finance Companies; expects asset quality to deteriorate
Aug 02, 2016 (LBO) – Fitch Ratings has affirmed the ratings of 10 Finance Companies following its periodic review of the large and midsized finance companies in Sri Lanka. The 10 Finance Companies are People’s Leasing & Finance, Central Finance Company, Melsta Regal Finance, HNB Grameen Finance, LB Finance, Siyapatha Finance, Senkadagala Finance, AMW Capital Leasing And Finance, Singer Finance and Mercantile Investment & Finance. […]
SriLankan launch real-time card transactions for on-board duty free purchases
Passengers purchasing items from SriLankan Airlines’ ‘Serendib Treasures’ on-board duty-free collection will from August 1 enjoy enhanced convenience and purchasing power, thanks to a new electronic credit and debit card system developed in partnership with the Bank of Ceylon to provide real-time processing of transactions. Captain Suren Ratwatte, CEO of SriLankan Airlines, said: “At SriLankan […]
Esala Weerakoon appointed as new secretary of Foreign Ministry
Esala Weerakoon, member of the Sri Lanka Foreign Service batch of 1988 received his letter of appointment as the Secretary to the Ministry of Foreign Affairs, today 1st August 2016, from the Secretary to the President. He has served as High Commissioner to India and Ambassador to Norway. His foreign postings include assignments as Actg. […]
Aitken Spence PLC Joins CSE to Open Trading for August
Aitken Spence PLC rang the opening bell to commence trading at the Colombo Stock Exchange (CSE) today and pledged to play its part in furthering the nation’s economic vision and growth. The market opening ceremony was organized to mark the first trading day for the month of August. Making remarks on behalf of Aitken Spence, […]
Huawei Sri Lanka says P9 first shipment sold out within a week
Huawei, Sri Lanka’s fastest growing smartphone announced that it has successfully sold out its first shipment of the new flagship smartphone Huawei P9 in Sri Lanka. According to industry statistics Huawei together with its exclusive national distributor Singer Sri Lanka PLC was able to achieve this milestone as a result of the high quality camera […]
We need to position our country: Harsha de Silva
Aug 02, 2016 (LBO) – Sri Lanka’s deputy minister of foreign affairs says that as a nation we need to ease rules and attract investment and build confidence on the global platform. “The wide global audience has not received the Sri Lankan message that we are ready for investment,” Harsha de Silva, deputy foreign affairs minister […]
Asian shares subdued, RBA rate decision awaited
TOKYO, Aug 2 (Reuters) – Asian shares edged lower in early trading on Tuesday, taking their cues from a modestly lower day on Wall Street as U.S. crude oil prices slid. The Reserve Bank of Australia’s policy board will decide on Tuesday whether rates should be left at 1.75 percent or trimmed a quarter point […]
Melstacorp to become Distilleries parent, 180-degree share swap
Aug 01, 2016 (LBO) – Melstacorp limited will become the parent company of Distilleries Company of Sri Lanka PLC (DCSL) and other subsidiaries of the current DCSL Group, a statement said.. Distilleries Company of Sri Lanka PLC (DCSL) announced a reorganization of the shares and stated capital of DCSL and its fully owned subsidiary Melstacorp […]
GAAM: Foreign inflow of Rs207 mln to CSE during week
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Sri Lanka motor vehicle imports fell 29-pct in April; trade gap shrinks
Aug 01, 2016 (LBO) – Sri Lanka’s exports fell 0.9 percent to 706.6 million US dollars in April 2016, while imports fell at a faster 2.0 percent to 1,460.9 million US dollars from a year earlier, official data showed. The trade gap has also shrunk 2.9 percent to 754.3 million US dollars from a year […]
Sri Lanka has demand for higher yielding financial instruments: Nandalal
Aug 01, 2016 (LBO) – Sri Lanka’s Central Bank Deputy Governor says there is an ample demand among insurance companies, provident funds and other institutional investors in the country for higher yielding new financial instruments. Delivering a keynote address, Deputy Governor Nandalal Weerasinghe highlighted that Sri Lanka needs to further deepen the corporate debt market […]
Sri Lankan rupee steady in dull trade; bond holders book profit
Aug 01, 2016 (Reuters) – The Sri Lankan rupee was steady in thin-volume trade on Monday as the market waited to watch the impact of last week’s policy rate hike announcement, while some bond holders sold their stakes to book profits, dealers said. After market hours on Thursday, the central bank raised its key interest rates […]