MTI’s ‘idea2fund’ successfully assessed the second round’s concept presentations on the 17th of December at the Hilton Colombo. ‘idea2fund’ is a venture challenge platform powered by MTI Corporate Finance for prospective entrepreneurs to pitch their venture ideas, get connected with potential investors and receive start-up consulting advisory and execution through MTI Consulting. The session included…
Oil futures fell on Wednesday after Libya said it expects to boost production over the next few months and a report showing a surprise build in U.S. crude inventories last week. Brent futures for February delivery fell 89 cents, or 1.6 percent, to settle at $54.46 a barrel, while U.S. West Texas Intermediate crude for…
SriLankan Airlines is being consistently ranked among the most punctual international airlines, according to an analysis of data over the last five months by the global flight data monitoring organisation Flightstats (www.flightstats.com). Flightstat’s monthly ‘Global Airlines Arrival Performance 2016’ lists the 40 most punctual airlines in the world. Flightstats is a provider of real-time global…
Since there will be many direct foreign investments next year the rupee will be strengthened, said Finance Minister Ravi Karunanayaka. The rupee depreciated in 2015 due to increase in imports and investments moving out of the country. Next year the Hambantota port project will commence as a joint venture with a Chinese government investor and…
DFCC Bank is proud to be the lead financier of Sri Lanka’s first utility-scale grid connected solar power project implemented by the private sector. Promoted by Sagasolar Power (Pvt) Ltd, and located at Buruthankanda, Hambantota, this 10MW power project utilizes photovoltaic technology to convert sunlight to electricity. It is expected to add 19GWh of clean…
Fitch Ratings has assigned Sri Lanka-based National Insurance Trust Fund Board (NITF) a National Insurer Financial Strength Rating (IFS) and National Long Term Rating of ‘AA-(lka)’. The Outlook is Stable. NITF’s ratings reflect strong ties with the government of Sri Lanka (B+/Negative), a strong business profile as the only reinsurer in the country, high capitalisation…
ICRA Lanka Limited, Subsidiary of ICRA Limited, group company of Moody’s Investors Service has assigned the issuer rating of [SL]BBB+ (pronounced SL triple B plus) with a stable outlook to Asia Asset Finance PLC (AAF or the Company). The rating factors in AAF’s status as 59.7% subsidiary of Muthoot Finance Limited (MFL or the Parent;…
Inflation, as measured by the change in the National Consumer Price Index (NCPI) (2013=100), which is compiled by the Department of Census and Statistics, decreased to 4.1 per cent in November 2016 from 5.0 per cent in October 2016, on year-on-year basis. Both Food and Non-food categories contributed towards the year-on-year inflation in November 2016….
The Association of Container Transporters (ACT), a responsible trade body tasked with improving standards of the local container transport trade, hosted its 31st Annual General Meeting requesting relevant authorities and sector ministries to push for improved regulations that will contribute to growth in trade. The AGM and subsequent fellowship which was held at Hotel Galadari…
The Finance Ministry has released Rs 5.5 billion to the Agriculture Ministry to be distributed among the farmers to purchase fertilizer for the Maha season. As per the request of the agriculture Ministry another RS 1.5 billion will be released today. Under the government decision to give cash instead of fertilizer under the subsidized scheme…
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