Fitch Ratings has downgraded Sri Lanka’s Lion Brewery (Ceylon) PLC’s National Long-Term Rating to ‘A+(lka)’ from ‘AA-(lka)’. The Outlook is Negative. The agency has also downgraded the National Long-Term Rating on Lion’s outstanding senior unsecured debentures to ‘A+(lka)’ from ‘AA-(lka)’. The downgrade reflects Fitch’s expectations that Lion’s net leverage, defined as lease-adjusted debt net of…
The Ceylon Chamber of Commerce’s National Agenda Committee on Infrastructure presented a set of recommendations on fast-tracking Private-Public Partnerships (PPP) to the Minister of Finance and Media Hon. Mangala Samaraweera recently, and highlighted the need for a robust institutional and operational set up for the new PPP agency. At a meeting held on 18th July,…
Alert cabin crew members aboard SriLankan Airlines’ flight UL 166 managed to avert a major incident that is believed to have been caused by the ignition of a lithium battery pack or mobile phones in a passenger’s hand luggage. The incident reported on July 30, 2017 when the flight was en route to Colombo from…
One-off impairments on aircraft and equity investments contribute to US$1.87 billion net loss Passenger revenues steady on record passenger numbers and 79% load factors 11% reduction in unit costs helps to offset pressure on yields Group-wide strategic review well underway to drive change and improve performance Abu Dhabi, UNITED ARAB EMIRATES – Etihad Airways today…
The branch-wide investor education campaign conducted by the Colombo Stock Exchange (CSE) has been well received over the first half of the year, with over 350 educational and awareness initiatives conducted in 2017. The initiatives have reached out to over 14,300 current and prospective investors around the country. Initiatives driven through the CSE branch…
The Exim Bank of Korea has completed the KSP-ADB Joint Consulting Program for establishment of an ICT hub for secondary education project. The dissemination seminar was held on 26th July at the Ministry of Education with the chairmanship of Secretary Sunil Hettiarachchi during which the Korean consultant team presented the final results of the study…
The Sri Lankan Bureau of Foreign Employment and Japan International Manpower Development Organization signed a MoU to train Sri Lankan Technical Interns in Japan and give them an insight into their profession. The agreement was signed by the Chairman of IM Organization Kyoki Yanagisawa and Foreign Employment Minister Thalatha Athukorala recently at the ministry. According…
Minister of Finance and Mass Media Mangala Samaraweera met with Deputy Vice President of the Millennium Challenge Corporation Ms. Fatema Sumar and her delegation at his office in Parliament Wednesday (26th July). Discussions centered on the potential investment opportunities in Sri Lanka. State Minister of Finance Eran Wickramaratne and Deshal De Mel, Economic Adviser to…
Reuters – Sri Lankan shares ended steady in thin trade on Thursday as gains in financials were offset by losses in industrial shares, with foreign investors continuing to be net buyers. The Colombo stock index ended almost unchanged at 6,669.05. On Tuesday, the index recorded its lowest close since June 13. Shares of diversified conglomerate…
The Ceylon Association of Shipping Agents (CASA) announced that Mr. Ruwan Waidyaratne, Managing Director – Hayleys Advantis Limited, had been unanimously elected as its Chairman for 2017/18 at the Association’s 51st Annual General Meeting (AGM) held on the 26th of July, 2017. Having served as the Vice Chairman of CASA from the year 2014/15, Ruwan…
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