Category: Other
Post-sanctions Iranian delegation in Sri Lanka to boost trade
Feb 23, 2016 (LBO) – A 30-member Iranian delegation arrived in Sri Lanka headed by its Energy Minister Hamid Chitchian. The delegation consists of members from government, the Iranian private sector and a trade chamber. “In our new era, we want closer cooperation with Sri Lanka,” Chitchian said according to a Ministry of Industry and […]
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 […]
Fitch affirms Ceylon Dollar Bond Fund at BB-/ V5
Fitch Ratings has affirmed Ceylon Dollar Bond Fund’s Fund Credit Quality Rating of ‘BB-‘ and affirmed the Fund Volatility Rating at ‘V5’. The fund is managed by Ceylon Asset Management (CAM). KEY RATING DRIVERS The affirmation of the ‘BB-‘ Fund Credit Quality Rating is driven by the weighted average rating factor (WARF) and rating distribution […]
Sri Lanka’s largest solar power plant by LAUGFS takes off ground
LAUGFS Power yesterday held the ground breaking ceremony and foundation stone laying for the largest solar power plant in the country, to be set up with an investment of around Rs.5 billion. The 20MW facility at Hambantota will be constructed by international experts deploying European technology. Sri Lanka currently depends on fossil fuel based electricity […]
Lamudi Sri Lanka explores real estate market change in Colombo
When it comes to searching for real estate, Colombo is the most popular area in Sri Lanka for property-seekers. According to Lamudi Sri Lanka, more than 70 percent of website searches are for property in the country’s commercial capital. Property demand in Colombo has risen in recent years, with prices increasing simultaneously. Its property market […]
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Feb 18, 2016 (LBO) – Global growth will fail to pick up steam over the next two years as the slowdown in China, lower commodity prices and tighter financing conditions in some countries weigh on the economy, Moody’s Investors Service said in a quarterly report today. The downside risks to Moody’s forecasts for G20 GDP growth of […]
Awarding of compensation to families of deceased migrant workers
Thirty four families of deceased migrant workers in the Middle East were given compensation and salary dues by the Acting Minister of Foreign Affairs Dr. Harsha de Silva on 17th February 2016 at the Foreign Ministry. A total of Sri Lankan Rupees 57 million was awarded to the family members. This was the first awarding […]
Alpha Fire Services launches new water mist technology to combat kitchen fires
Colombo. Tuesday 16 February 2016. Alpha Fire Services (Pvt) Ltd Sri Lanka will showcase the Proano Kitchen Water Mist Fire Suppression Systems, which are rapid and effective on kitchen (F/K class) of fires, at the forthcoming ‘Architect Exhibition’ to be held at BMICH from 18th to 21st February. Water Mist is nebulised fresh water distributed […]
President visits Holocaust Memorial & Jewish Museum in Germany (In Pics)
Feb 17, 2016 (LBO) – Sri Lanka’s President Maithripala Sirisena who arrived in Berlin on Tuesday (16) visited the Holocaust Memorial and the Jewish museum in the evening. The Holocaust Memorial in Berlin has been built to memorize the Jewish victims of the Holocaust. This, which has been designed by architect Peter Eisenman and engineer […]
Prof. B. Mahadevan speaks about Inspirational Leadership
World-renowned speaker Prof. B. Mahadevan is in Sri Lanka on the invitation of the Business School of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), to conduct several programmes for the corporate leadership in the country. Prof. Mahadevan was the guest speaker at the CA Sri Lanka CEOs’ Breakfast Forum on “Inspirational […]
Fitch assigns Alliance Finance BB+ rating; outlook stable
Fitch Ratings Lanka has assigned Alliance Finance Company PLC (AFC) a National Long-Term Rating of ‘BB+(lka)’ with a Stable Outlook. The agency has also assigned the company’s outstanding senior unsecured debentures a National Long-Term Rating of ‘BB+(lka)’ and its outstanding subordinated debentures a National Long-Term Rating of ‘BB(lka)’. KEY RATING DRIVERS NATIONAL RATINGS AND SENIOR […]
MTD Walkers prepares for positive growth in construction industry
Integrated infrastructure and engineering solutions provider MTD Walkers PLC announced its results for the third quarter of 2015/16 today posting revenue of LKR 2.7 billion. The Group has managed to increase its gross profit margin to 25% from 16% in the third quarter last year in what continues to be a tough year for the […]