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ICRA Lanka assigns BBB+ rating with stable outlook to Dunamis Capital
Sep 22, 2015 (LBO) – ICRA Lanka Limited has assigned the Issuer rating of BBB+ with a stable outlook to Dunamis Capital. ICRA Lanka has also assigned the [SL]BBB+ (pronounced SL Triple B plus) rating to the existing LKR 1,000 Mn Senior Unsecured Redeemable Debenture programme and the proposed LKR 1,000 Mn Senior Unsecured Redeemable […]
Sri Lanka and Vietnam shares highest corporation foreign debt in Asia: ADB
Sep 22, 2015 (LBO) –Corporations in Indonesia, Sri Lanka, and Vietnam have the highest share of foreign currency debt in developing Asia, the Asian Development Bank said in a report.“Firms in the energy sector tend to have a substantial portion of their borrowings in foreign currency,” ADB said in its report. “Typically, the corporations that […]
Portfolios and functions of Ministers gazetted; CBSL, SEC, ETF under PM
Sep 22, 2015 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe has taken several important financial institutions under his purview, as per the gazette notification published on the subjects under each minister. The Prime Minister as the Policy Planning and Economic Affairs Minister has taken the Central Bank, the Securities and Exchange Commission, the Employees Trust Fund […]
Sierra Cables to set up manufacturing plant in Kenya
Sep 22, 2015 (LBO) – Sri Lanka’s Sierra Cables, a listed power cable maker, said it will be setting up a manufacturing plant in Kenya to supply transmission and distribution cables to East African countries, a statement said. The company said in a stock exchange filing that the decision was reached after conducting a feasibility […]
Asian stocks rebound following gains in US and Europe
Sep 22, 2015 (LBO) – Asian indices rebounded after heavy losses Monday following gains made in Wall Street as well as European stocks, foreign media reports said. Chinese markets opened higher, with the Shanghai Composite up 0.88 percent to 3,184 points while Hong Kong’s benchmark Hang Seng index gained 0.77 percent. Korea’s benchmark Kospi […]
Sri Lanka eyes conference travellers, India is a key market: official
Sep 22, 2015 (LBO) – Sri Lanka plans to attract more business visitors through promoting the country as a destination for conferences and business meetings, an official said.“We are no longer in a numbers game,” Vipula Wanigasekera, chief executive of Sri Lanka Convention Bureau said at a forum held Monday.“Future tourist has been identified as […]
Sri Lanka marks maritime and naval week from Sept 21-27
Sep 22, 2015 (LBO) – Sri Lanka has declared September 21 to 27 as Maritime & Naval week and to mark the occasion a souvenir and a badge was presented to the President Maithripala Sirisena at the President’s official residence Monday, a statement said. “This is the first time Sri Lanka holds an event under […]
Volkswagen shares plunge 20 pct on admission of rigged emission tests
Sept 22, 2015 (LBO) – Shares of Volkswagen fell nearly 20 percent on Monday after the German carmaker admitted it had manipulated emissions tests of diesel vehicles in the United States, media reports said. The U.S. Environmental Protection Agency on Friday accused the carmaker of using software that tricked regulators who measured emissions from these […]
Monetary Policy should focus on Price Stability: IMF Study
Sep 21, 2015 (LBO) – Monetary policy should stick to its core mandate of price stability, and should deviate from its traditional role only if the benefits to the economy outweigh the costs, a new IMF study showed. Based on current knowledge, the case for using monetary policy to contain risks to financial stability—commonly referred to […]
US Embassy empowers youth to improve local communities
The United States awarded nearly 0,000 (approximately LKR 21,000,000) to 16 civil society organizations as part of the U.S. Embassy’s annual Youth Empowerment Grants, an innovative way to provide seed funding for up-and-coming groups working on solutions to problems affecting youth across Sri Lanka.“This year’s International Day of Democracy emphasizes the critical role of civil […]
Sri Lanka, China trade chambers eye mutual benefits for SMEs
Sep 21, 2015 (LBO) – Sri Lanka’s business chamber on Monday signed a memorandum of understanding with their Beijing counterpart to work together to promote trade and commercial ties between the two countries.The MOU looks forward to share information with regard to trade, technical transfer, and economic cooperation, the Ceylon Chamber said in a statement. Its primary […]
Sri Lanka stocks close down 0.05-pct: Low investor activity
Sep 21, 2015 (LBO) – Sri Lankan stocks closed down 0.05 percent on Monday with low investor activity and losses in index heavy stocks, brokers said. The Colombo benchmark All Share Price Index closed down 3.50 points at 7,104.37 lower 0.05 percent. S&P SL20 closed 2.49 points lower at 3,883.22 down 0.06 percent. Turnover was […]