Fitch Ratings has affirmed Sri Lanka-based Sunshine Holdings PLC’s National Long-Term Rating at ‘A(lka)’. The Outlook is Stable. The rating on the diversified conglomerate reflects its exposure to defensive end-markets, strong market positions in its diversified products and Fitch’s expectations of steady free cash flow generation over the medium term. These strengths are counterbalanced by…
The Sri Lankan refugee displacement village that entered the global limelight as the world’s largest refugee camp at one time, has been brought back to life- but not as yet another grim tale of displacement, rather as part of a new US $ 1.8 Mn national apparel initiative at village levels. “Reconciliation would be a…
Finland-based AW Energy, an ocean wave energy company, is working with the Government of Sri Lanka to set up a project to harness the potential of ocean wave energy around the southern coast of Sri Lanka. Wave energy is the largest untapped form of renewable energy in the world. It is on track to produce…
The 2018 Budget proposals towards the liberalisation of the shipping industry were presented with a view to making Sri Lanka a true regional maritime hub, said Ministry of Finance’s Senior Advisor Mano Tittawella. Speaking at the seminar on the national budget organised by the Ceylon Chamber of Commerce Friday, he said that the proposal to…
The government has endeavored to reduce its debt to a risk-free and manageable level through revenue enhancement and mobilization efforts, the Finance Ministry says. The debt to GDP ratio increased to 79.3 percent in 2016 from 77.6 percent in 2015 reflecting the debt financing of budget deficit, lower nominal GDP growth rate and the significant…
Minister of Transport & Civil Aviation Nimal Siripala De Silva yesterday (15th Nov.) inaugurated the Automatic Dependence Surveillance – Broadcast (ADS-B) Operations at the Ratmalana Colombo Airport Area Control Centre. Automatic Dependent Surveillance – Broadcast (ADS-B) is considered as one of the latest developments in the surveillance technologies used for Air Traffic Control purposes. ADS-B…
Minister of Finance and Mass Media Mangala Samaraweera further relaxing the policies announced in the Budget – 2018 on the importation of vehicles has also revised the policy on Loan to Value (LTV) ratio on the financing for purchase of vehicles under lease basis. Minister Samaraweera making the winding up speech in the second reading…
Reuters – Sri Lankan shares rose on Thursday after five straight sessions of declines, on bargain hunting in beaten-down stocks and foreign buying. The Colombo stock index ended 0.31 percent firmer at 6,448.98, recovering from its lowest close since Sept. 27 hit in the previous session. It shed 2.6 percent in the five sessions through…
Combining modern luxury and legendary hospitality with authentic Sri Lankan charm, Shangri-La Hotel, Colombo is a place where the city comes alive, and is set to become an icon for the city of Colombo Shangri-La Hotels and Resorts celebrated the opening of Shangri-La Hotel, Colombo with an inauguration ceremony that signalled the city’s most highly…
First Capital Holdings PLC (the Group) recorded a profit after tax of Rs. 731Mn for the 1st half of 2017/18, a substantial increase compared to Rs. 406Mn in the corresponding period of the previous year. Total comprehensive income for the 1st half was Rs. 641Mn (2016/17 – Rs. 406Mn). The primary dealer business dominated the…
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