Reuters – S&P Global Ratings: * s&p maintains sri lanka’s sovereign credit rating at b+; raises outlook to stable from negative * s&p says revised outlook based on assessment that strengthening of sri lanka’s institutions, governance practices is on more sustainable footing Source text: (bit.ly/2zkuU0H) (Bengaluru Newsroom: +91 806 749 1136)
Investors from seven countries will be in Colombo this month for the first Sri Lanka Economic and Investment Conclave. The business seminar will be held at the Kingsbury Hotel on 28th and 29th November and will focus on highlighting investment opportunities in Sri Lanka. Dr. Palitha Kohona, former Ambassador to the United Nations…
Reuters – Sri Lankan shares ended marginally lower on Monday, with traders staying on the sidelines for want of fresh triggers amid expectations of certain amendments in the budget. The Colombo stock index ended 0.15 percent weaker at 6,473.87. It had lost 1 percent last week. “We expect the market to prevail at these levels…
Advantis Projects, the project logistics arm of Hayleys Advantis Group, recently relocated the 24MW Lakdhanavai power plant from Sapugaskanda to Nyala, Sudan, a region that has been without electricity for four months. Advantis was able to provide a complete end-to-end solution for the transportation of the power plant which included an overland transportation and shipping…
The Central Bank of Sri Lanka says that the Index of Industrial Production (IIP) in September 2017 increased by 6.0 per cent in comparison with the corresponding month of 2016. In its economic indicators report issued on last Friday (17th Nov.) the CBSL indicated that among the major sub divisions of the manufacturing industries; volume…
The Enterprise Sri Lanka credit schemes introduced in the Budget has subsidized loans at 6.5% – 8% to encourage the SME sector, State Finance Minister Eran Wickramaratne said. He was addressing the National Chamber of Exporters (NCE) Post-Budget Forum 2018, last Wednesday. Highlighting the measures taken through the 2018 Budget to support small and medium…
NEW DELHI: Maruti parent SuzukiBSE 0.89 % has inked a pact with Toyota Motor and, if things as planned, India would see the first electric vehicle (EV) from the Maruti stable in less than two years! That would prove to be a game-changer for the domestic auto industry. Broader concerns How the EV segment would…
Seeks to unlock growth opportunities in the fast-evolving Sportswear and Athleisure domains Sri Lanka’s leading exporter Brandix has announced plans to launch a joint venture with the global synthetic materials manufacturer Best Pacific of Hong Kong to produce synthetic fabric and webbing in Sri Lanka with specific focus on warp knit synthetic fabric. An agreement…
The American Chamber of Commerce in Sri Lanka has appointed Nuzreth Jalaldeen as its new Executive Director with effect from November 2017. Nuzreth was formerly at Uber Sri Lanka, and is a veteran in the Communications and PR industry, with experience ranging from work at Leo Burnett Solutions Inc to Sri Lanka Telecom Mobitel to…
Allianz Lanka continued to maintain its impressive performance across its general and life businesses through the 9 months ended 30th September, 2017. Allianz Insurance Lanka, the general insurance company, recorded Gross Written Premium (GWP) of Rs.3.92 billion during the period under review, a YoY growth of 30% over GWP of Rs.3.02 billion reported during the…
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