Amãna Bank’s recently concluded 1 for 1 Rights Issue brought in Foreign Direct Investments valued at over USD 22 million to the country. The Rights Issue which was oversubscribed increased the Bank’s capital by Rs. 4.75 billion of which Rs.3.37 billion was from overseas shareholders. IB Growth Fund (Labuan) LLP an investment firm under the…
Loan book grows to Rs 686 billion; deposits to Rs 800 billion Gross income improves by 28.84% to Rs 55.319 billion VAT & NBT up 51.21% over 1H 2016 Accelerated growth in the second quarter has enabled the Commercial Bank of Ceylon to build on its strong start to the year and post characteristically vigorous…
The all new BMW 5 series plug-in hybrid was unveiled to the Lankan market by Prestige Automobile Pvt. Ltd., the sole authorised importer and distributor of BMW, MINI and Hyundai vehicles in Sri Lanka, at an event held at Park Street Mews on 10th August 2017. The new iconic plug-in hybrid is the latest addition…
As the Budget 2018 will be prepared on the Performance basis, all the proposals by the line ministries, provincial ministries and the heads of departments should clearly indicate the details of the output of such projects accompanied with the Key Performance Indicators (KPI), informs the Secretary to Treasury and Ministry of Finance and Mass Media…
The Colombo Stock Exchange (CSE) in association with the Colombo Stock Brokers Association (CSBA) recently launched a series of events presenting investment research on companies featured on the S&P SL 20 Index, to an exclusive audience of Local Institutional Investors. The first event of the series, featured presentations and discussions on John Keells Holdings PLC…
A whopping 40000 local arts and crafts are now networked with Sri Lanka’s apex market facilitator that promotes the country’s historic arts and crafts legacy. This facilitator brand has also returned to profits in 2016 -after four years of continued losses. “Laksala is gradually becoming a recognized Lankan brand among tourists visiting Sri Lanka. I…
NEW DELHI: An international study, testing on-road emissions of passenger cars in India, says a diesel SUV may be emitting 25 to 65 times more oxides of nitrogen (NOx) than a small petrol car. On-road emissions of diesel cars may also be far higher than their emissions under lab certification conditions, it adds. The study,…
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…
Video Story
