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Fitch affirms Sri Lanka at B+; outlook revised to stable
Feb 09, 2017 (LBO) – Sri Lanka’s Fitch Ratings has affirmed Sri Lanka’s Long-Term Foreign- and Local Currency Issuer Default Ratings (IDR) at ‘B+’ and revised the Outlook to Stable from Negative. The Country Ceiling and issue ratings on Sri Lanka’s senior unsecured foreign- and local-currency bonds are also affirmed at ‘B+’. The Short-Term Foreign- and […]
Haycarb records turnover of Rs.9.4Bn and PBT of Rs.768Mn in Q3 2016/17
(PRESS RELEASE) – Haycarb PLC, the Sri Lankan multinational of Hayleys PLC reported revenue of Rs. 9.4 billion and profit before tax of Rs. 768 million for 9 months ending 31 December 2016. The profit after tax stood at Rs. 646 million. The turnover increased by 12%, while the profit before tax and after tax […]
‘s tourism skills development to start in East
Feb 09, 2017 (LBO) – Under the skills for inclusive growth program Australia will provide around 1.6 billion rupees in aid and technical assistance, to strengthen Sri Lanka’s tourism sector through training. “A profitable and sustainable tourism industry requires more than natural and cultural assets, which Sri Lanka has in abundance, it requires high-level hospitality […]
Pakistan sends relief assistance to drought affected people of Sri Lanka
With a view to help the brotherly people of Sri Lanka to mitigate the severe drought, the Government of Pakistan sent a relief flight to Colombo containing 25 Metric Ton of rice. The High Commissioner of Pakistan in Sri Lanka Maj. Gen. (R) Syed Shakeel Hussain handed over the relief consignment to Sri Lankan authorities […]
Maximum retail price for rice comes into force
Feb 09, 2017 (LBO) – Sri Lanka’s Consumer Affairs Authority has issued maximum retail prices for three varieties of rice while the minister in charge issued a stern warning to errant sellers across the country. The order is effective from Wednesday and is issued by CAA Chairman Hasitha Thilekeratne under Consumer Affairs Authority Act No […]
‘s Bank authorized capital
Feb 09, 2017 (LBO) – Sri Lanka’s cabinet nod has been received to instruct legal draftsman to amend certain sections of People’s Bank Act which seeks to increase the authorized share capital of the Bank and to issue debentures without government guarantee. At the cabinet meeting held yesterday, Public Enterprises Minister Kabir Hashim has submitted the […]
Sri Lanka COPE reveals Rs110bn loss from 15 public institutions
Feb 08, 2017 (LBO) – Sri Lanka’s Parliamentary Committee on Public Enterprises today presented its third interim report to the Parliament. The interim report which covers the activities from 01 May 2016 to 31 August 2016 is based on the inquiries carried out in 15 state-owned institutions. COPE Chairman Sunil Handunnetti presenting the report before […]
‘s external situation manageable, but more FDI needed: Governor
Feb 08, 2017 (LBO) – Sri Lanka’s external debt situation is manageable. However, the current challenge is to increase inflows from exports and FDI, Central Bank Governor Indrajit Coomaraswamy said on Wednesday. “The external debt situation, in our view, is manageable. Sri Lanka has never defaulted on a payment. But the challenge for the country […]
Ceylon Motor Show 2017 in PICS
Feb 08, 2017 (LBO) – Automotive enthusiasts thronged the BMICH over the last weekend to be a part of the Ceylon Motor Show 2017, Sri Lanka’s single largest showcase of the very latest in the motor vehicle industry alongside their counterparts from the classic and vintage era dating back to the 1900s. Registering attendance in […]
Toyota Lanka opens dedicated showroom for its first 1000cc car
Toyota Lanka (Private) Limited, the sole authorized distributor for Toyota vehicles in Sri Lanka opened doors to its latest showroom for the affordable, comfortable and safe 1000cc “Wigo” which was launched recently. The dedicated showroom situated within Toyota Plaza in Wattala embodies the fun and excitement that is synonymous with the “Wigo”. Launched targeting young […]
Citizens Development Business (CDB) goes live with Intellect DIGITAL FACE
(PRESS RELEASE) – Customer centric Digital Channel solution with an omni-channel experience Intellect Design Arena Ltd, a digital technology product provider across Banking and Insurance, today announced that Citizens Development Business Finance PLC (CDB) has gone live with Intellect’s DIGITAL FACE, an Omni Channel solution catering to demands of the modern customers. CDB will now […]
SAITM says ready to forge ahead amid protests
Feb 08, 2017 (LBO) – South Asian Institute of Technology and Medicine (SAITM) says they are ready for the rough road ahead and will push ahead despite opposition from students and staff of state universities. “These protests are driven by politics and fear of competition,” Dr. Neville Fernando, founder and chairman of SAITM told reporters […]