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Sri Lanka’s Power Ministry releases reduced power cut schedules
Oct 18, 2016 (LBO) – Sri Lanka’s Power Ministry has released new power cut schedules after the initial 3.5 hours power cut was reduced to 1.5 hours power cut. The Power and Renewable Energy Ministry said that a one hour power cut will be imposed during the day time, and a half-an-hour cut will be […]
‘s Fitch rates Seylan Bank senior debt A-(lka)(EXP)
Fitch Ratings has assigned Seylan Bank PLC’s (A-(lka)/Stable) proposed senior debenture issue of up to LKR8bn a National Long-Term Rating of ‘A-(lka)(EXP)’. The debentures will have tenors of three and four years and carry fixed and floating coupons. The debentures are to be listed on the Colombo Stock Exchange, and the bank plans to use […]
Asian stocks lifted by firmer oil prices; dollar steady
HONG KONG, Oct 18 (Reuters) – Asian stocks crept up on Tuesday thanks to a rebound in oil prices and the dollar consolidated recent gains although underlying risk appetite was cautious on concerns over capital outflows and weak data, especially from China. Special focus will be on China’s B Share market, which was trading up […]
Fitch downgrades PABC, Affirms four small and mid-sized banks
Oct 17, 2016 (LBO) – Sri Lanka Fitch has downgraded Pan Asia Banking Corporation’s (PABC) National Long-Term Rating to ‘BBB-(lka)’ from ‘BBB(lka)’ and confirmed ratings of four small, mid-size banks, a statement said. The Outlook on PABC is revised to Stable from Negative, the rating agency said in a statement. The National Long-Term Ratings on […]
Minister Daya Gamage pays last respect to Thai King
Condoling the demise of the King of Thailand His Majesty Bhumibol Adulyadej , Minister Daya Gamage paid last respect to the King at the Official Residence of Thai Ambassador, today (17).
Commercial Bank’s Rs5bn debenture issue opens on Oct 24
Oct 17, 2016 (LBO) – Sri Lanka’s Commercial Bank of Ceylon second issue of debentures for 2016 is to open on 24th October, the bank said in a statement. The Bank is seeking to raise 5 billion rupees with an option to increase it by a further 2 billion to strengthen its Tier II capital […]
Kuwaiti envoy held talks with Ceylon Chamber on trade & investments
Kuwaiti Ambassador in Sri Lanka, His Excellency Khalaf Bu Dhhair says his country is willing to help Sri Lanka’s development plans with required investments. The envoy conveyed this when he made a courtesy call to the Ceylon Chamber of Commerce on Thursday, the 13th October, 2016 and heldtalks with Chairman, Mr. Samantha Ranatunga. “Kuwait is […]
Sri Lankan rupee steady for third session; stocks down
Oct 17, 2016 (Reuters) – The Sri Lankan rupee was steady for a third straight session on Monday as dollar demand from importers offset exporter sales of the U.S. currency in the absence of central bank intervention, dealers said. The spot rupee was steady at 146.90/95 per dollar at 0633 GMT. However, dealers continue to […]
Sri Lanka exports, imports decline; BOP in surplus
Oct 17, 2016 (LBO) – Sri Lanka’s exports fell 4.4 percent to 891.2 million US dollars in July, while imports also fell at a faster 6.6 percent to 1,432.8 million US dollars from a year earlier, official data showed. The trade gap shrank 10 percent to 541.6 million US dollars from a year earlier. Exports […]
Sri Lankan business leaders meet U.S. Ambassador
Oct 17, 2016 (LBO) – Top Sri Lankan business personalities met U.S. Ambassador H.E. Atul Keshap at a dinner event in Colombo recently, organized by the Horton Debate Society. Ambassador Keshap and his wife Karen attended the dinner event at the Grand Gourmet restaurant on Horton Place in Colombo, with Ranjan Hulugalle, chairman of the […]
Sri Lanka’s CEB imposes 3.5 hour power cuts except in Colombo CMC
Oct 17, 2016 (LBO) – Sri Lanka’s Ceylon Electricity Board has imposed a 3.5 hours power cut in the island except in Colombo city following the technical breakdown of Norochcholai Lakvijaya coal power plant. The Power and Renewable Energy Ministry said in a statement that a 2 1/2 hours power cut will be imposed during the […]
Turkey extends assistance to Sri Lankan fishermen and farmers
The Republic of Turkey uplifted the livelihoods of more than 200 fishing and farming families in Trincomalee District by donating 80 fishing boats, 400 fishing nets, 30 electric water pumps and 30 kerosene water pumps to fishing and farming communities in Trincomalee at a ceremony held at the Public Library Hall in Kinniya. More than […]