Category: Industry
”; Outlook Stable
Fitch Ratings has affirmed Sri Lankan cable manufacturer Sierra Cables PLC’s National Long-Term Rating at ‘A+(lka)’. The Outlook is Stable. The affirmation and Stable Outlook reflect our view that Sierra will be able to maintain adequate financial metrics in the next 12 months. The improving trajectory in Sri Lanka’s external finances and lower domestic interest […]
CEAT Kelani says it is not the company fined by Customs Department
CEAT Kelani International Tyres (Pvt) Ltd. has assured customers, stakeholders and the general public that the Company has no dispute over Customs Duties with the Customs Department and is not subject to any inquiry or penalty by the Department in relation to Customs Duties. Responding to media reports that a leading tyre manufacturer is facing […]
”’
Fitch Ratings has assigned Siyapatha Finance PLC’s (BBB+(lka)/Stable) proposed Sri Lankan rupee-denominated senior unsecured debentures of up to LKR4 billion a final National Long-Term Rating of ‘BBB+(lka)’. The final rating is the same as the expected rating assigned on 14 March 2024 and follows the receipt of documents conforming to information already received.
CBSL invites general public to submit observations on draft amendments to Finance Leasing Act
The Central Bank is inviting the general public to submit observations on the draft amendments to the Finance Leasing Act. The public is invited to send their observations/ suggestions/ comments through post, fax or email on or before 31st May 2024, under the subject; “Observations/ Suggestions/ Comments on the draft amendments to the Finance Leasing […]
Cabinet Approval for USD18.50 Service Fee, User-Pay Model Imposes No Govt Costs: VFS Global
The government benefits from increased efficiencies and transparency in managing the complete process and improved resource utilisation through the launch of the new Sri Lanka E-Visa platform, says VFS Global in Sri Lanka. Releasing a statement, the company said that the solution is offered through a user-pay model, at no cost to the government and […]
Colombo among first 9 destinations to join Emirates’ A350 network
Colombo will be among the first set of destinations to be served by Emirates’ A350 aircraft entering service in September 2024, the airline announced today. Emirates’ fourth daily service to Colombo EK654/655 will be served by the A350 from 1 January 2025. With 10 new A350s expected to join the Emirates fleet by 31 March […]
IFC to invest Rs.3,270Mn in Sunshine Healthcare Lanka Ltd
Sunshine Healthcare Lanka (SHL), the healthcare arm of the diversified conglomerate Sunshine Holdings PLC, has entered into an agreement for a proposed equity investment of up to 3,270 million rupees by the International Finance Corporation (IFC). Subject to satisfaction of conditions, IFC will own approximately 14.7% stake in SHL. IFC investment fortifies Sunshine’s commitment to […]
Janashakthi Group appoints Minette Perera & Vishnu Balachandran to Board of Directors
Janashakthi Group (JXG) has appointed Minette Perera and Vishnu Balachandran as Independent, Non-Executive Directors to the Company’s Board of Directors. Minette Perera has a distinguished career as the former Group Finance Director of the MJF Group, where she played a pivotal role in managing finance functions across a vertically integrated tea operation. During her employment […]
EQT to acquire WSO2; acquisition to enable accelerated investment in technology
WSO2, the leader in digital transformation technology, announced today that it has signed a definitive agreement to be acquired by EQT. “We are thrilled to partner with EQT as we embark on the next phase of WSO2’s journey,” said Dr. Sanjiva Weerawarana, CEO and Founder of WSO2. “With EQT’s support and expertise, we are well-positioned […]
‘s remarks on wage hike may be misunderstood
The Planters Association of Sri Lanka and its members are concerned that the President’s remarks may be misunderstood and lead workers and the public to assume that a final decision has been taken in this matter when it has not, the Assosiaction said in a statement. The Association’s statement was issued following widespread media coverage […]
”’ Rating
Fitch Ratings has assigned Asia Asset Finance PLC’s (A+(lka)/Stable) proposed Sri Lankan rupee-denominated senior unsecured debentures of up to LKR2 billion an expected National Long-Term Rating of ‘A+(EXP)(lka)’.
Sri Lanka exports earnings up almost 10-pct in Mar 2024
The deficit in the merchandise trade account narrowed to US dollars 369 million in March 2024 from US dollars 412 million recorded in March 2023, primarily due to a higher increase in exports than the increase in imports. However, it widened compared to February 2024 (US dollars 319 million).Meanwhile, the cumulative deficit in the trade […]