Fitch Ratings Lanka has affirmed the National Long-Term Ratings on five small and mid-sized Sri Lankan banks. The banks are: — Nations Trust Bank PLC (NTB) — Pan Asia Banking Corporation PLC (PABC) — Union Bank of Colombo PLC (UB) — SANASA Development Bank PLC (SDB) — Amana Bank PLC (Amana) A full list of…
Reuters – Sri Lankan shares rose for the fourth straight session on Tuesday and closed at their highest level in more than seven weeks, with banks leading the gains. Turnover hit a two-week high due to buying across the board, while foreign investors continued to purchase Sri Lankan equities. The Colombo stock index ended 0.36…
Having inked the Sustainable Development Framework with Sri Lanka in August, United Nations Sri Lanka has unveiled its way forward on the country’s sustainable industry goals for the first time on 2 October in Colombo. “SDGs are the global goals for our own survival” voiced UN Resident Coordinator and UNDP Resident Representative Ms Una McCauley…
Sri Lanka Telecom PLC and Indocean Developers (Pvt) Limited recently entered into an agreement that will redefine the experience of luxury living. Through this agreement SLT’s high speed broadband services up to the speed of 100Mbps and high definition television content through its IPTV platform will be provided over Optical Fibre to all residents of…
High Commissioner of Sri Lanka to the United Kingdom Her Excellency Ms. Amari Wijewardene says this is the best time to promote Lankan products in the UK market, as Sri Lanka has been rewarded with the ‘’EU GS Plus’’ facility. She says under the ’ÉU GSP Plus’’ trade facility, Sri Lankan businesses can export products…
Following the momentous acquisition of Singer (Sri Lanka), by Hayleys PLC, last month, Hayleys PLC, Chairman and Chief Executive, Mr. Mohan Pandithage was appointed Chairman of Singer (Sri Lanka), and business tycoon and Co-Chairman, Hayleys PLC, Mr. Dhammika Perera was appointed Co-Chairman of Singer (Sri Lanka), at a Board Meeting held at the Singer (Sri…
Sri Lanka’s edible fish exporters are experiencing a boom following the resumption of shipments to Europe, and Emirates SkyCargo is playing a key role in helping them capitalise on this resurgence. The freight division of the award-winning airline reports that it is currently transporting about 100 tons of edible fish a week from Colombo to…
Sri Lanka has been granted a $50 million (£37m) loan to help fund rooftop solar power projects. The funding will support 50MW of capacity and the Asian Development Bank (ADB) will also help develop a market infrastructure and a pipeline of subprojects. According to the ADB, Sri Lanka’s electrification rate stood at 99.3% last year…
The Asian Development Bank’s (ADB) Board of Directors has approved financing of up to $900 million for a program that will upgrade Sri Lanka’s road network to connect vast rural populations to jobs and services. “Improving Sri Lanka’s poor rural transport infrastructure is key to achieving the government’s development goals, which include generating 1 million…
Reuters – Sri Lankan shares rose for a third straight session on Monday to end at their highest close in seven weeks led by banks and diversified shares, while continued foreign buying in the market underpinned positive sentiment. The Colombo stock index ended 0.51 percent up at 6,470.96, its highest close since Aug. 14. The…
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