Fitch Ratings has assigned Nations Trust Bank PLC’s (NTB, A(lka)/Stable) proposed Basel II compliant subordinated debentures of up to LKR5bn an expected National Long Term Rating of ‘A(lka)(EXP)’. The proposed debentures will mature in five years and carry fixed and floating coupons. The debentures are to be listed on the Colombo Stock Exchange. NTB plans…
Sri Lanka-China historic relations appear to be dating back way earlier than currently believed, according to revelations by a top Chinese official-and strategic frontier province in China’s 21st Century Maritime Silk Route plan calls to expand trade and friendly cooperation with Sri Lanka – almost on its own. “I believe that with the progress of…
Reuters – Sri Lankan shares closed marginally lower on Wednesday, posting their lowest closing level in nearly six weeks, as a government proposal to raise the value added tax (VAT) hurt market sentiment. The government on Wednesday said the cabinet has approved a proposal to increase the VAT to 15 percent from 11 percent with…
Rs.250 million and Rs.42 million have been allocated for the projects of School Computer Laboratory Project and District IT Resources Centre project. The School Computer Laboratory Project is implemented to improve ICT related infrastructure and literacy in schools island wide while the latter project is implemented to maintain coordination with the district administration on all…
Suranga Perera, Waruna De Silva and Saminda Deshapriya, who each have over a decade of experience in Sri Lanka’s tea industry, share their insights on the industry’s current prospects and way forward. Ceylon Tea has a rich heritage that spans across centuries and is heralded as a glowing success story. Tea was an export industry…
The Hayleys Plantations Sector was adjudged number one in Asia for its Quality Work-life HR Practices and was presented the ‘Award for leading HR practices in quality work-life’ at the Asia Pacific HRM Congress. Held in Bangalore India in September, The Asia Pacific HRM Congress Award 2016 recognized the Hayleys Plantation Sector’s exceptional contribution towards…
Eurocars introduces the first-ever Porsche Driving Experience and launches the all-new 718 Boxster model in Sri Lanka Eurocars, the official agent of Porsche cars in Sri Lanka, is hosting the first-ever exclu-sive Porsche Driving Experience with a series of driving events that will kick off from this week. Porsche enthusiasts will receive the rare opportunity…
Malaysia’s bigest wireless carrier raising funds to cut debt Axiata to cut stakes in Indonesia, Sri Lanka, Cambodia units PT XL Axiata, the Indonesian wireless carrier, fell to the lowest in nearly a year after people with knowledge of the matter said its Malaysian parent company is planning to sell part of its stake. Shares…
In its capacity as the national body of accountants, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), recently engaged its stakeholders by conducting a forum exclusively for the benefit of its members focusing on the Economic and Technology Co-Operation Agreement (ETCA) between India and Sri Lanka. The forum was organised in an…
Sri Lanka’s national payment network – LankaPay is celebrating yet another milestone in its operations by completing one year of successful operations of their innovative ‘USD Online’ service. Striving to further extend the convenience factor to the country’s banking population, LankaPay launched USD Electronic Fund Transfers (EFT) in July 2015, enabling all member banks to…
Video Story
