Category: Other
” to Sierra Cables PLC Fitch Ratings
Fitch Ratings has assigned Sri Lanka based cable manufacturer Sierra Cables PLC (Sierra) a National LongTerm Rating of ‘BB+(lka)’. The Outlook is Stable. Sierra’s rating reflects its established core business, which has an extensive product portfolio, modest but expanding market share and stable EBITDA margins. This is counterbalanced by exposure to cyclical endmarkets, risks associated […]
Sri Lanka’s CCC welcomes new Governor, Urges Stakeholders to Support Restoring Confidence in CBSL
The Ceylon Chamber of Commerce warmly welcomes the appointment of Dr. Indrajit Coomaraswamy as the Governor of the Central Bank of Sri Lanka and extends to him its best wishes as he commences a 6 year term. Coomaraswamy, a much respected economist with a stellar track record both in Sri Lanka and overseas, is eminently […]
Sri Lanka’s first National Coop Policy & Coop Act in the offing
As Sri Lanka’s third economic force reported total value close to $ 3 Bn, it is set to enter the next stage of development with a variety of support measures from the government –including a National Cooperative Act, a Coop policy and the third cooperative university in South Asia set up in Sri Lanka. “We […]
Britain to slash corporate tax to lowest in a major economy
July 04, 2016 (LBO) – The British Chancellor George Osborne wants to slash corporation tax to less than 15 per cent, making it the lowest rate in any major economy, amid steps to buoy the economy after the brexit vote. He said Britain should “get on with it” to prove to investors that the country […]
Commercial Bank adds crosscurrency transactions to Online Banking
The Commercial Bank of Ceylon has added a new dimension to its Online Banking platform by enabling foreign currency account holders to carry out fund transfers between accounts maintained in different currencies other than Sri Lankan rupees. These transactions can be carried out between accounts maintained under a customers own namein eight major currencies including […]
Ceylon Cold Stores PLC Joins CSE to Open Trading for July
Ceylon Cold Stores (CCS) rang the opening bell to commence trading at the Colombo Stock Exchange (CSE) today. The market opening ceremony was organized to mark the first trading day for the month of July. Directors Mr. Ajit Gunewardene and Mr. Ronnie Peiris, President of the Consumer Foods Sector of JKH & Director Mr. Jit […]
Justice Minister meets UN High Commissioner for Human Rights
Justice Minister Dr. Wijeyadasa Rajapaksha has participated 32nd regular session of the United Nations Human Rights Council in Geneva . After the session Minister Rajapaksha has met UN High Commissioner for Human Rights Zeid Raad Al Hussein.
Hotel Show Colombo 2016 with over 250 stalls from over 20 countries
The 11th edition of the Hotel Show Colombo 2016 will be held from the 22nd – 24th July 2016 at The BMICH, in Colombo. This year the Hotel Show will focus on its theme Hospitality Industry Vision 20 – 20. The organizers expect to bring out futuristic displays and innovations at this fair for the […]
Eurocars launch new Porsche 718 Boxster models in Colombo
Eurocars the sole agent of Porsche in Sri Lanka welcomes new and exclusive mid-engine Porsche models; the 718 Boxster and 718 Boxster S. The two-seat convertibles are now more powerful yet more fuel efficient. The centerpiece of the new model series is the newly developed four-cylinder flat engine with turbocharging. The 718 Boxster develops 220 […]
Field Marshal Sarath Fonseka obtains UNP membership
Field Marshal Sarath Fonseka obtained the UNP membership from UNP leader and Prime Minister Ranil Wickremesinghe at the UNP headquarters in Sirikotha today.
CICT launches country’s first mobile app to track movement of containers
A new level of convenience and sophistication has been introduced to keeping track of containerised cargo by Colombo International Container Terminals (CICT) with the launch of a mobile app for the purpose. A first for Sri Lanka’s port industry, CICT’s ‘eZPort’ app for smartphone users can be downloaded free from the App Store or Android […]
World Bank approves USD125mn credit to modernize Sri Lanka agriculture
June 30, 2016 (LBO) – The World Bank has approved a 125 million US dollars credit from the International Development Association to assist Sri Lanka in modernizing its agriculture sector. The project will be implemented through the Ministry of Primary Industries, the Ministry of Agriculture, and five participating provinces, including the Northern, Eastern, Central, North-Central […]