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Sampath Bank to issue 50 million Debentures

Sampath Bank PLC is to issue 50million Debentures with an option to issue another 20 million in the event of oversubscription on a par value of Rs. 100 each. This is subject to the necessary approval and Sampath Bank hopes to have these Debentures listed at the Colombo Stock Exchange.

(0)Comments | October 5, 2015 12:31 pm

South Asia Grows Strongly but Fiscal, Financial Weaknesses Remain

Led by a resilient India, South Asia is expected to maintain its lead as the fastest-growing region in the world, with economic growth forecasted to accelerate from 7 percent in 2015 to 7.4 percent in 2016, a World Bank report said. According to the twice-a-year South Asia Economic Focus, this positive performance hinges on solid…

(0)Comments | October 5, 2015 12:21 pm

SriLankan Airlines surpasses benchmark in punctuality

SriLankan Airlines (www.srilankan.com) achieved the airline industry benchmark of on-time performance on 85.26% of its flights in August 2015, the result of a sustained effort throughout 2015 to improve punctuality. SriLankan’s performance in August was ranked 16th out of 50 international airlines rated by the global flight data service Flightstats (www.flightstats.com). It placed SriLankan ahead…

(0)Comments | October 5, 2015 10:04 am

Proposed Finance Bill discourages private sector investment

The Ceylon Chamber of Commerce (CCC) believes that the Finance Bill of March 2015, presented to Parliament recently sends a negative signal to the private sector and is likely to deter investment. This is unfortunate since the Bill comes at a time that the Sri Lankan private sector was gearing itself to partner the Government…

(0)Comments | October 5, 2015 9:57 am

Lanka,Vietnam seek greater bilateral trade in tea,coffee space

World’s leading tea producers Sri Lanka and Vietnam sought a greater bilateral trade with India in the fast growing tea and coffee sectors. Today, there is a need for India and Vietnam to join hands and increase trade between the two countries in the fast growing tea and coffee sectors, Vietnam’s Minister of Agriculture and…

(0)Comments | October 5, 2015 9:51 am

Colombo stocks strengthen gains

Colombo equities strengthen the gains on Friday to end the weekly operation on an optimistic note. Benchmark All share price index advanced by 25.06 points or 0.35% to end at 7,105.54 while S&P SL 20 index gained 4.42 points (+0.12%) to end at 3,840.75. Today’s gains were mainly driven by price appreciations in counters such…

(0)Comments | October 2, 2015 5:15 pm

Maximum loan-to-value ratio on vehicles increased to 90%

The maximum Loan-to-value (LTV) ratio for vehicle leasing has been increased from 70% to 90% with effect from Monday (Oct. 05), Finance Minister Ravi Karunanayake said today. Earlier the Central Bank on September 14 directed banks, finance and leasing companies to follow new leasing rates which have been set at a maximum 70 per cent…

(0)Comments | October 2, 2015 5:05 pm

Malabe, Kottawa, Pannipitiya, Homagama to be developed as Technological Cities

While attending the inaugural day of the ‘Dharmapala Edicational & Trade Exhibition’ to mark the 75th anniversary of the Dharmapala College at Pannipitiya in Kottawa as the chief guest, Megapolis and Western Province Development Minister Patali Champika Ranawaka said that Malabe, Kottawa, Pannipitiya and Homagama would be developed into Technological Cities. The Minister said that…

(0)Comments | October 2, 2015 4:34 pm

Five foreign banks likely to enter Sri Lanka

Five foreign banks have reportedly sought Central Bank permission to begin operations in Sri Lanka. While it has been reported that two of the largest banks in Japan and China are among these five, they are preparing to begin operations in Sri Lanka after the Central Bank approves them.

(0)Comments | October 2, 2015 11:16 am

Otara Foundation launches public appeal to Govt. to enact new Animal Welfare Bill

The Otara Foundation is to press the government to enact the new Animal Welfare Bill by mobilising mass public support for the legislation via a 100,000 on-line signature campaign launched to mark World Animal Day, celebrated globally on 4th October. The new Animal Welfare Bill was intended to replace Sri Lanka’s antiquated Prevention of Cruelty…

(0)Comments | October 2, 2015 11:10 am

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