Fitch downgrades Melsta Regal Finance; affirms 9 Sri Lankan Finance Companies
July 17, 2018 (LBO) – Fitch Ratings Lanka has downgraded Melsta Regal Finance's National Long-Term Rating to 'B(lka)' from 'A+(lka)' and removed the Rating …
Companies
CSE to host briefing for potential Empower Board sponsors
Jul 17, 2018 (LBO) - The Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC) recently launched "Empower", a listing …
National Export Strategy to be launched this week
Jul 16, 2018 (LBO) - Sri Lanka is to launch a long-awaited National Export Strategy (NES) later this week on the 19th. "The National Export Strategy (NES) is …
Tire maker Michelin acquires Camso
Jul 16, 2018 (LBO) - Michelin, a tire company has acquired Camso, an off-the-road (OTR) track and tire company, for US 1.45 billion dollars. The two …
CSE to host briefing event for potential Empower Board sponsors
Colombo Stock Exchange (CSE) and the Securities and Exchange Commission (SEC) recently launched "Empower", a listing platform fostering capital raising and …
Sri Lanka seeks investments from France for Megapolis project
July 13, 2018 (LBO) – Sri Lanka recently concluded an investment forum in France aimed at attracting foreign investments for the Megapolis project that is …
Fitch removes Rating Watch Negative on Distilleries; affirms at AAA(lka)
July 13, 2018 (LBO) – Fitch Ratings has removed the Rating Watch Negative on Distilleries Company's National Long-Term Rating, and has affirmed the rating at …
Arpico Finance, Associated Motor Finance merger to be completed by Nov 2019
July 12, 2018 (LBO) – Process of amalgamating Associated Motor Finance (AMF) with Arpico Finance Company (AFC) which commenced in August 2017 is expected to …
Central Bank instructs SFSP to pay 10-pct of deposit liabilities from today
July 10, 2018 (LBO) – Monetary Board of the Central Bank has instructed Swarnamahal Financial Services PLC (SFSP) to pay urgently 10 percent of deposit …
Sri Lanka’s expenditure on tobacco use surpasses GSP+ export income
July 05, 2018 (LBO) – Sri Lankan consumers’ annual expenditure on cigarettes and tobacco is so high it surpasses the annual export revenue from EU GSP …
Cabinet awards Rs1.5bn contract to ACL Cables for supplying aerial conductors
July 04, 2018 (LBO) – Sri Lanka’s cabinet of ministers has approved a proposal to award a contract of supplying 2,500 km of aerial bundle conductors to ACL …
JKH hits post war valuation lows as second Balendra era beckons
Jul 04, 2018 (LBO) - The Colombo Stock Exchange has had a tough 2018, and there is no stock where this is more apparent than John Keells Holdings (JKH). JKH …
Fitch rates Commercial Bank’s Basel III sub debt final AA-(lka)
July 03, 2018 (LBO) – Fitch Ratings has assigned Commercial Bank proposed Basel III-compliant subordinated unsecured debentures a final National Long-Term …
S Renganathan appointed Managing Director & CEO of Commercial Bank
July 02, 2018 (LBO) – Commercial Bank has appointed Sivakrishnarajah Renganathan as the new Managing Director and Chief Executive Officer of the bank since …
Colombo Stock Exchange to launch new board for SME sector security listings
June 29, 2018 (LBO) – Sri Lanka’s Securities and Exchange Commission with the Colombo Stock Exchange will be launching a Small and Medium Enterprise Board …
Noteworthy asset quality deterioration in Sri Lankan finance companies
June 28, 2018 (LBO) – ICRA Lanka, a group company of Moody’s Investors Service is cognisant of the asset quality deterioration in licensed finance …
SEC, CSE launch ‘Empower’ for SME’s
Jun 25, 2018 (LBO) - The Securities and Exchange Commission of Sri Lanka (SEC) together with the Colombo Stock Exchange (CSE) will launch “Empower” - the …
Uswatte opens state-of-the-art biscuit factory in Millaniya
Jun 22, 2018 (LBO)- Uswatte Confectionery Works, Sri Lanka’s oldest confectionery manufacturer opened their latest factory in their premises at Millaniya. …
Cabinet approval for electricity pricing mechanism expected by Sept: IMF
June 22, 2018 (LBO) – Cabinet approval for an automatic tariff adjustment mechanism for electricity under the 2015 tariff methodology is expected by …
Sri Lanka’s unabated credit growth in real estate sector raises concerns: IMF
June 21, 2018 (LBO) – Sri Lanka’s significant credit growth for more than two consecutive years warrants attention, an International Monetary Fund (IMF) …