Category: In Pictures
Janashakthi gross written premiums up 19-pct in 2015
Janashakthi Insurance PLC (Janashakthi) reported a consolidated Gross Written Premium (GWP) of Rs.10.664 billion for the year ended 31st December 2015, a growth of approximately 19% over the same period in 2014. The insurer posted a Profit Before Tax (PBT) of Rs.1,024 million for the period under review. The Company’s life insurance business recorded a […]
Hapag-Lloyd Lanka walks away with Best Customer Service Award
Hapag-Lloyd Lanka (Pvt) Ltd, a subsidiary of Aitken Spence PLC and the local representation of German operator Hapag-Lloyd Kreuzfahrten was awarded the “Best Customer Service” laurel for the Europe sector at the recently concluded awards ceremony organized by the Institute of Chartered Shipbrokers – UK (Sri Lanka branch). The win comes following a similar achievement […]
Sri Lanka fetes 68th independence in South Korea
The Sri Lanka Embassy in Korea organized a series of events in Seoul and Gimhae from end-January to early-February 2016, to celebrate the 68th anniversary of the country’s independence. The Embassy on 3 February organized a grand reception at the Millennium Seoul Hilton hotel which was attended by over 400 dignitaries that included Ambassadors and the diplomatic corps, Korean […]
New Zealand PM praises links between NZ and Sri Lanka
New Zealand Prime Minister John Key has urged New Zealand and Sri Lankan businesses to take advantage of the growing commercial opportunities between the two countries. “Our commercial ties have expanded well beyond the traditional dairy links to opportunities in sectors such as food and beverage, aviation, education, specialised manufacturing and the creative industries,” Mr […]
Union Bank profits surged in 2015
Union Bank of Colombo PLC (UBC) and its subsidiaries concluded the year 2015 with a notable business performance; reflected by a 226% increase in post-tax profit that signals the strong growth momentum mobilised within the year. Core Banking growth and Profitability The principal source of income from the Bank’s fund based operations escalated to Rs. […]
Fitch affirms Distilleries Company of Sri Lanka at AAA
Fitch Ratings has affirmed Distilleries Company of Sri Lanka PLC’s (DIST) National Long-Term Rating at ‘AAA(lka)’. The Outlook is Stable. KEY RATING DRIVERS Leading Alcohol Manufacturer: DIST continues to be the market leader in alcoholic beverage production in Sri Lanka due to its strong brands, which drive demand and access to retail points across the […]
‘s assigns first-time B1 issuer ratings to Sampath Bank
Moody’s Investors Service has assigned an issuer and long term local currency deposit rating of B1 to Sampath Bank PLC and short-term ratings of non prime. Moody’s has also assigned the bank with a CR Assessment of Ba3(cr). The assigned long-term foreign currency deposit rating is B2 and is constrained by the foreign currency deposit ceiling for […]
New Zealand, Sri Lanka sign agreement to enhance dairy cooperation
Sri Lanka and New Zealand today (24) signed a partnership arrangement for the Sri Lanka Dairy Excellence Training Initiative between the Sri Lanka Ministry of Rural Economic Affairs and the New Zealand Ministry of Foreign Affairs and Trade under the Dairy Cooperation Arrangement (DCA) , which was signed in November 2013. The agreement was signed […]
‘s senior debt final A-
Fitch Ratings has assigned Singer Sri Lanka PLC’s (Singer, A-(lka)/Stable) proposed senior debentures of up to LKR2bn a final National Long-Term Rating of ‘A-(lka)’. The assignment of the final rating follows the receipt of documents conforming to information already received, and the final rating is the same as the expected rating assigned on 15 December […]
ADB President arrives in Sri Lanka
President of the Asian Development Bank Takehiko Nakao arrived in Sri Lanka yesterday night on a two-day official visit. The ADB President, accompanied by two ADB officials, will meet top government dignitaries and officials, today. The discussions with the ADB president are expected to focus on obtaining more development assistance to Sri Lanka.
USAID helps Polonnaruwa dairy farmers increase milk sales
Representatives from the Embassy of the United States of America and senior Sri Lankan officials presided at the February 18 signing of a Memorandum of Understanding (MoU) between dairy farmers, CIC Dairies, and Milk Industries of Lanka (Pvt.) Ltd. The MoU will help dairy farmers in Polonnaruwa to increase their milk sales. The Honorable Minister […]
Leading Austrian companies ready to invest in Sri Lanka
The Austrian Chamber of Commerce states that several leading companies in Austria are ready to make several investments in Sri Lanka. The Chamber of Commerce stated it at a business meeting headed by President Maithripala Sirisena held yesterday (Feb. 19) in Viana with participation of the members of the business communities of Austria and Sri […]