Category: Industry
‘s Basel III Sub Debt final rating of A(lka)
Fitch Ratings Lanka has assigned Sampath Bank PLC’s (AA-(lka)/Stable) proposed Basel III-compliant subordinated unsecured debentures a National Long-Term Rating of ‘A(lka)’. The final rating is the same as the expected rating assigned on 8 February 2021, and follows the receipt of documents conforming to information already received. The proposed debentures will mature in seven years […]
Hambantota International Port ready to launch fertilizer transshipment business
Russian billionaire Andrey Igorevich Melnichenko, who met PM Mahinda Rajapaksa, visited the Hambantota International Port (HIP) during his visit to Sri Lanka last week. During discussions with the port’s top officials, he had shown keen interest in the potential to develop regional distribution of fertilizer via the Hambantota International Port. “This is well in line […]
eCommerce in 2021: trends that are bound to gain traction this year.
From online marketplaces to AI, numerous trends are shaping today’s eCommerce market. But what your business needs to prosper in the online dimension ultimately boils down to individual requirements – and any gaps that need to be filled. Here are a few such trends, that are sure to gain momentum as the year progresses. Online […]
Ceylon Chamber of Commerce marks 182 years
Governor Stewart Mackenzie, initiated the establishing of the Ceylon Chamber of Commerce on 25 March 1839, for the purpose of best promoting the interests of commerce. It was among the first group of chambers established in Asia at the time. Governor Mackenzie who was deeply interested in promoting Agriculture and Trade adopted the rules and […]
SLTDA approves Bolagala floating agro tourism resort in Katana
Bolagala Floating Agro Tourism Resort in Katana located close to the Negombo tourism hub will be the newest addition to the inventory of unique experiences for tourists visiting Sri Lanka. This is the first-ever floating resort in Sri Lanka created adopting an agro-tourism theme consists of 50 floating cabanas, including 10 GPS tracker equipped cabanas that could […]
”; Outlook stable
Fitch Ratings has affirmed Sri Lanka-based consumer-durable retailer Abans PLC’s National Long-Term Rating at ‘AA(lka)’. The Outlook is Stable. Fitch has simultaneously affirmed the ‘AA(lka)’ rating on Abans’ outstanding senior unsecured debentures and the ‘F1+(lka)’ National Short-Term Rating on its commercial paper. The affirmation reflects our expectations that the healthy performance of Abans’ core operations […]
Cabinet nod to submit Colombo Port City Economic Commission Bill to Parliament
The Cabinet of Ministers has approved a proposal made by President to take the necessary steps to publish the Colombo Port City Economic Commission Bill on the government gazette and submit the bill to the parliament. The approval to establish a special economic zone known as the Port City was given at the cabinet meeting […]
5 reasons why South Asia is coming together to beat marine plastic pollution
By CECILE FRUMAN , JOHN ROOME & PAWAN PATIL Collaboration, cooperation, consensus – these words are seldom used when describing the interactions of the eight sovereign nations that make up South Asia. For a variety of reasons, South Asia is considered the least integrated region in the world with restrictions on the movement of people, goods, services and capital. Yet, Afghanistan, Bangladesh, […]
CEAT ups radial production by 72,000, exceeding half a million tyres per year
CEAT Kelani Holdings has announced that it has increased production of Passenger Car Radial (PCR/Van) tyres by 72,000 tyres a year, adding 16 per cent to its annual capacity in this category, as part of its expansion plan to support government efforts to conserve foreign exchange through domestic production. This first phase of the planned […]
EXECUTIVE, Sri Lanka’s top-notch business travel partner ties up with onyx hospitality group & Mrs. World
Executive, the premier travel partner of all business travelers to and within Sri Lanka has recently tied up with ONYX Hospitality Group providing luxurious travel convenience to OZO Hotels and Amari Galle. Puneet Dutta, General Manager of Amari Galle – Sri Lanka was excited to share his thoughts on the new partnership. “Exceeding our guest […]
Sampath Bank powers real-time online payments to Inland Revenue Department with LankaPay
Sampath Bank joined hands with LankaClear to become one of the first banks in the country to facilitate real-time online payments to the Inland Revenue Department (IRD). Sampath Bank customers will now be able to make payments to the Inland Revenue Department, 24 x 7 x 365, directly from their savings or current accounts using […]
CCC-Private sector propose alternative to problem of managing flexible packaging waste
The Ceylon Chamber of Commerce (CCC) and industry stakeholders propose an Extended Producer Responsibility (EPR) initiative as a more cohesive alternative to addressing the environmental issues created by flexible packaging in Sri Lanka. The Chamber and the private sector believe that adopting an EPR approach to the issue, instead of banning flexible packaging altogether, would […]