Fitch Ratings Lanka has upgraded Sri Lanka-based Union Bank of Colombo PLC’s (UB) National Long-Term Rating to ‘BB+(lka)’ from ‘BB(lka)’. The Outlook is Stable. KEY RATING DRIVERS – NATIONAL RATING The upgrade of UB’s rating reflects the sharp increase in its capitalisation and ongoing structural improvements in the bank’s credit profile. UB’s Fitch core capital…
Colombo bourse slumped significantly on Friday amid the crossover of several key ruling party Politicians to the opposition. Main index lost notably by 128.71 points (-1.71%) to end at 7,401.62. 20-script S&P SL index lost 63.67 points (1.52%) to end at 4,127.26. This was the second highest intra-day drop for the year. All Share Price…
Dealing a massive blow to the ruling UPFA alliance ahead of the presidential polls, Minister Maithripala Sirisena, who is the General Secretary of its main constituent party SLFP, today announced that he will contest the forthcoming Election as the Common Opposition Candidate. “I thank all political parties and political groups for selecting me as the…
Fitch Ratings has assigned Abans Plc’s proposed issue of senior unsecured redeemable debentures of up to LKR2bn an expected National Long-Term rating of ‘BBB+(lka)(EXP)’. The rating is contingent upon the final transaction documents conforming to information already received. The proposed debentures are rated in line with the Sri Lanka-based retailer’s National Long- Term Rating of…
General Secretary of the Sri Lanka Freedom Party (SLFP) Maithripala Sirisena today said that after serving as the Minister of Health for a period of 5 years, he now looks forward to serving the country with greater commitment in the future. The Minister made these comments while addressing a ceremony at the Jana Kala Kendraya…
You may not think of it as the most exciting car in the world, but the newly redesigned Volkswagen Golf compact car has been named Motor Trend magazine’s Car of the Year. The award is for all four available versions of the Golf. That includes the sporty Golf GTI, the diesel-powered Golf TDI, the electric-powered…
Colombo equities marginally advanced on Thursday amid notable foreign inflow. Core index managed to increase by 5.23 index points or 0.07% to end at 7,530.33 while 20-scrip S&P SL index bagged 2.12 index points (+0.05%) to close at 4,190.23. Price inclines in counters such as Nestle Lanka (closed at LKR 2,235.00, +4.8%), John Keells Holdings…
As celebrity endorsements go, it’s a perfect fit. The late Jamaican reggae icon Bob Marley is poised to become the face of the world’s first global marijuana brand. “Marley Natural” will be available in 2015 in areas where cannabis is legal. That means Marley-branded pot, as well as hemp-infused lotions and creams, could be sold…
Bringing global packaging honour to Sri Lanka, the World Packaging Confab kicked off in Colombo for the second time on 20 November-.and not only packaging related exports, even FMCG packaging sales are on the rise. “The upward trend in per capita consumption and the average packaging cost of FMCGs reporting a 10-15% sales growth shows…
With the vision to be at the forefront of infrastructure development in Sri Lanka, MTD Walkers PLC, a leading company for construction, manufacturing and engineering in Sri Lanka, recorded an impressive growth for the 2nd quarter of FY 2014/2015. Compared with its performance in the previous financial year, the turnover for the 2nd quarter ended…
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