Fitch Ratings has upgraded Sri Lanka Insurance Corporation Limited’s (SLIC) National Insurer Financial Strength (IFS) rating and National Long-Term Rating to ‘AA+(lka)’ from ‘AA(lka)’ and assigned a Stable Outlook The agency has also affirmed SLIC’s international IFS rating at ‘B+’ with a Stable Outlook. KEY RATING DRIVERS The one-notch upgrade of SLIC’s National Long-Term Rating…
The Central Bank of Sri Lanka has permitted licensed banks to grant concessions to their borrowers who have been affected by the recent floods, adverse weather conditions and connected circumstances with a view to facilitating the recommencement of their businesses and normalization of their activities. Accordingly, licensed banks can; • Grant a concessionary period of up to 3 months…
Reuters – Sri Lankan shares fell to a more than three-and-a-half month low and breached the psychological level of 6,500 points on Friday, dragged down by diversified and beverage shares. The market has ended lower in 10 out of the last 11 sessions through Friday, even as yields on short-term government securities fell over the…
Since April, 2017 the government has been working with various stakeholders to uplift the Adventure Tourism services in Sri Lanka by formulating new policies. As a result, they have come up with a new vision to uplift those services and ensure safety of those activities with an action plan that has already been given to…
Malaysia and Sri Lanka reiterated a keen desire to build on the outcomes of the recent highest level engagements and to achieve concrete progress on the decisions taken. This was discussed during a meeting State Minister of Foreign Affairs Vasantha Senanayake had with Malaysian Foreign Minister Dato’ Sri Anifah Haji Aman, on 7th August. Both…
Reaffirming its credentials as a preferred partner for international credit lines, DFCC Bank has been granted a long term loan of €20 million by Proparco, a subsidiary of Agence Française de Développement (AFD). This organisation is devoted to private sector financing, to finance renewable energy projects and improve access to credit for Small and Medium…
Dialog Axiata PLC announced its consolidated financial results for the six months ended 30th June 2017. Financial results included those of Dialog Axiata PLC (the ‘Company’) and of the Dialog Axiata Group (the ‘Group’) post-consolidation with subsidiaries Dialog Broadband Networks (Pvt) Ltd (‘DBN’), Dialog Television (Pvt) Ltd (‘DTV’) and Digital Holdings Lanka (Pvt) Ltd (‘DHL’)….
Reuters – Sri Lankan shares recovered from a three-and-a-half month low on Thursday, snapping a nine-session losing streak, as investors bought battered shares. The Colombo stock index rose 0.16 percent, or 10.29 points, to 6,516.32, edging up from its lowest close since April 25 hit on Wednesday. It fell 1.5 percent last week in its…
In a move aimed at supporting the expansion planned for the organization going forward, Central Depository Systems (Pvt) Ltd (CDS), a fully owned subsidiary of the Colombo Stock Exchange (CSE), relocated its operations to a larger premises located at the Ground Floor of the M & M Centre, No.341/5, Kotte Road, Rajagiriya today. While the…
Singer (Sri Lanka) PLC announced today its results for the first half of 2017. Despite tough business conditions, the results for the six months ending 30th June 2017, showed a good Revenue growth of 13.6% to Rs. 25.1 billion compared to the same period in the previous year. There was a strong growth in several…
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