Category: Other
ANC Launches their Undergraduate Alumni Association at their ‘U.S. Night’
03rd February, COLOMBO, SRI LANKA- American National College launched their first U.S. Alumni Association at Water’s Edge recently at their ‘US Night’. Speakers at the event included Dr. Punarjeeva Karunanayake, CEO of ANC Education as well as Mr. P.K William, Director of William Investments Pvt. Ltd. and president of the American Alumni Association of Sri Lanka. The […]
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 […]
South Korea won at six-year low, possible swap deal with US, China
Feb 29, 2016 (LBO) – South Korea’s Finance Ministry is to resume a possible currency swap deal with the United States and China following the won’s recent fall. The won closed at a fresh six-year low of 1,238.8 won against the US dollar last week after its record-breaking decline since the first two months of […]
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 explores possibility to join TPP: Foreign Minister
Feb 26, 2016 (LBO) – Sri Lanka’s government is currently exploring the possibility of applying to join the Trans-Pacific Partnership very seriously, Foreign Minister Mangala Samaraweera said. “A leading government think tank is preparing a feasibility study and we will be continuously evaluating developments on this front,” Samaraweera said. He was addressing a gathering at […]
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 […]