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Russia restricts tea supplies from Sri Lanka after finding beetle

MOSCOW (Reuters) – Russia will place temporary restrictions on imports of all agricultural products from Sri Lanka, including tea, from Dec. 18, the Russian agricultural safety watchdog Rosselkhoznadzor said on Thursday. The watchdog said it had taken the decision to impose restrictions after it found an insect, known as the Khapra beetle, in the packaging…

(0)Comments | December 15, 2017 7:39 pm

Constituent Changes to the S&P Sri Lanka 20 Index

The Colombo Stock Exchange (CSE) announces the following changes in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2017 year-end index rebalance. A revision of the S&P SL 20 methodology in March 2017 established the practice of a semiannual rebalance of the index (previously conducted annually), which is set…

(0)Comments | December 15, 2017 6:58 pm

ADB grants USD 270 Mn to implement two development projects

The Government of Sri Lanka entered into three Loan Agreements worth of USD 270 million with the Asian Development Bank (ADB) for the implementation of two projects; Integrated Road Investment Program and Jaffna Kilinochchi Water Supply Project. A loan of USD 150 million was obtained for the investments required for the 4th Tranche of the…

(0)Comments | December 15, 2017 6:51 pm

Exchange defaced currency notes before Dec. 31 – CBSL

The Central Bank of Sri Lanka (CBSL) has drawn attention of the general public for implementation of its Clean Note Policy and regulation on the willfully mutilation, alteration or defacement of Sri Lanka currency notes. The Clean Note Policy has been introduced by CBSL aiming at maintaining the quality standards of the currency notes and…

(0)Comments | December 15, 2017 12:45 pm

Sri Lankan stocks little changed near 8-month closing low

Reuters – Sri Lankan shares closed little changed on Thursday, hovering near their lowest close in eight months hit in the previous session, as gains in plantation and beverage stocks offset falls in palm oil and diversified shares. The Colombo Stock Index ended 0.07 percent higher at 6,357.04. It had posted its lowest close since…

(0)Comments | December 15, 2017 12:22 am

S&P upgrades DFCC Bank’s Rating Outlook from Negative to Stable; Ratings affirmed at B/B

S&P Global Ratings has revised its credit rating outlook for DFCC Bank from negative to stable, while affirming ‘B’ long-term and ‘B’ short-term issuer credit ratings on the bank. In its assessment of DFCC’s business position, the Bank is projected to maintain its satisfactory market position and business stability over the next 12-18 months. The…

(0)Comments | December 14, 2017 7:27 pm

JAT Holdings could go public in Singapore – MD

The Managing Director of JAT Holdings (Pvt) Ltd, Mr. Aelian Gunawardene, says that the company is ready to go public anytime, but they have opted not to go public in Sri Lanka due to ‘uncertainties’ of the stock market. In an exclusive interview with Ada Derana Biz, he said that even though JAT Holdings is…

(0)Comments | December 14, 2017 4:10 pm

Singer achieves Rs. 1 billion sales of Huawei Branded smartphones in November

Singer Sri Lanka, the exclusive national distributor for Huawei smartphones announced that, it surpassed Rs. 1 billion sales of Huawei smartphones for the month of November 2017. The Rupee one billion sales were solely for the month of November and this was the second time Singer Sri Lanka has reached this milestone. Singer Sri Lanka…

(0)Comments | December 14, 2017 12:45 pm

Moody’s affirms ratings of three Sri Lankan banks; maintains negative outlook

Singapore, December 13, 2017 — Moody’s Investors Service has affirmed the long-term ratings of three banks in Sri Lanka (B1 negative). The rating actions follow the affirmation of Sri Lanka’s B1 sovereign rating. The affected banks are: (1) Bank of Ceylon; (2) Hatton National Bank Ltd.; and (3) Sampath Bank PLC. The baseline credit assessments…

(0)Comments | December 14, 2017 10:25 am

Sri Lankan stocks hit near 8-month closing low as banks fall

Reuters – Sri Lankan shares fell on Wednesday to their lowest close in nearly eight months as investors sold banking and diversified shares. The Colombo Stock Index fell 0.12 percent to 6,352.77, its lowest close since April 17. The index lost 0.6 percent last week in its fifth consecutive weekly drop, but is still up…

(0)Comments | December 14, 2017 10:19 am