Category:
”: Fitch
Feb 19, 2016 (LBO) – 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). The full statement follows: Fitch Affirms Ceylon Dollar Bond Fund at ‘BB-/ V5‘ Fitch Ratings-London/Colombo-19 February 2016: Fitch Ratings has […]
Sri Lanka stocks up 0.7-pct
Feb 19, 2016 (LBO) – Sri Lankan stocks closed up at 0.67 percent with gains in most of the index heavy stocks, brokers said. The Colombo benchmark All Share Price Index (ASPI) closed 41.89 points up at 6,250.89 up 0.67 percent. The S&P SL20 closed 28.45 points up at 3,269.24 up 0.88 percent. Turnover […]
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 […]
Sampur power plant receives environment approval; construction soon: Power Min.
Feb 19, 2016 (LBO) – The construction work of the Sampur coal power plant will start soon as the project received the environment approval early this month, Power and Renewable Energy Minister said. Accordingly the first and second phase of this project is to be commenced within the next few months, Power Minister Ranjith Siyambalapitiya […]
ADB to lend USD 500Mn, shifting focus in Sri Lanka lending
Feb 19, 2016 (LBO) – The Asian Development Bank will lend 505 million dollars to Sri Lanka in 2016 and focus on new areas like private sector development, knowledge solutions, and development of advanced infrastructure, a new report said. “ADB will continue to support Sri Lanka in new areas such as private sector development, knowledge […]
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 […]
Elusive global outlook requires urgent policy response, says OECD
Feb 19, 2016 (LBO) – Achieving strong growth in the global economy remains elusive, with only a modest recovery in advanced economies and slower activity in emerging markets, according to the OECD’s latest Interim Economic Outlook. “The world economy is likely to expand no faster in 2016 than in 2015, its slowest pace in five […]
Sri Lanka to collect corporate taxes online from next month
Feb 19, 2016 (LBO) – Sri Lanka’s state tax collector will gradually move out of manual tax administration by launching the first phase of RAMIS next month. Starting from March, six tax types namely VAT, SVAT, CT, NBT, PAYE and WHT will be collected under the Revenue Administration Management Information System (RAMIS). The Inland Revenue […]
French Total inks oil exploration deal with Sri Lanka
Feb 18, 2016 (LBO) – Total, a French oil and gas company, has signed a deal with Sri Lanka to explore for oil in the island’s east coast, a Petroleum Resources Development Ministry statement said. “The aim of the study is to explore marginal areas with limited data for hydrocarbon prospectivity,” the Ministry statement said. […]
Sri Lanka’s Commercial Bank to raise Rs7bn in debentures
Feb 18, 2016 (LBO) – Sri Lanka’s Commercial Bank said it was planning to raise as much as 7 billion rupees from the sale of debentures which will be quoted on the Colombo Stock Exchange. The bank said in stock exchange filing that it wanted to sell 50 million debentures of 100 rupees each. But […]
Sri Lanka, Germany sign agreements to enhance bilateral cooperation
Feb 18, 2016 (LBO) – Sri Lanka and Germany have agreed to strengthen bilateral relations between the two countries and promote development activities in Sri Lanka through German assistance. The two countries have signed agreements on a wide range of cooperation that covers Education, Language, Museaology, heritage and Art conservation, Higher Education, Sports. On behalf of […]
Sri Lankan climbers in Mt Everest expedition
Feb 18, 2016 (LBO) – Sri Lankan mountain climbers Jayanthi Kuru-Utumpala and Johann Peiris said Thursday they will launch an expedition to summit the world’s highest peak, Mt. Everest, this year. If successful, they will be the first Sri Lankans to do so. With over a decade of experience each, Kuru-Utumpala said they are confident […]