Fitch Ratings has downgraded the rating on SriLankan Airlines Limited’s (SLA) US dollar-denominated government-guaranteed bonds to ‘B+’ from ‘BB-‘. This follows the downgrade of Sri Lanka’s Long-Term Foreign and Local-Currency Issuer Default Ratings to ‘B+’ with a Negative Outlook (see ‘Fitch Downgrades Sri-Lanka to ‘B+’; Outlook Negative’, dated 29 February 2016). The national carrier’s bonds…
Fitch Ratings has downgraded Sri Lanka Telecom PLC’s (SLT) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to ‘B+ from ‘BB-‘. The Outlook on the IDRs is Negative. The agency has affirmed SLT’s National LongTerm Rating at ‘AAA(lka)’ with a Stable Outlook. The rating action follows Fitch’s downgrade of Sri Lanka’s Long-Term Foreign- and Local…
Fitch Ratings has downgraded the Insurer Financial Strength (IFS) rating of Sri Lanka Insurance Corporation (SLIC) to ‘B+’ from ‘BB-‘. The Outlook is Negative. The rating actions follow the downgrade of Sri Lanka’s Long-Term Local-Currency Issuer Default Rating (IDR) to ‘B+’ from ‘BB-‘ (see “Fitch Downgrades Sri-Lanka to ‘B+’; Outlook Negative,” dated 29 February 2016…
KARACHI: GFC Fans, one of the leading electric fan manufacturers in the country, is going to ship fans worth $50,000 to Sri Lanka, the Trade Development Authority of Pakistan (TDAP) announced on Tuesday. The company received the order while participating in Pakistan’s first single-country exhibition in Sri Lanka. The event, held from January 15-17, 2016,…
German citizens now hold the most powerful passport in the world, according to new findings. The rankings were created by Henley & Partners, a citizenship and planning firm, who based their research on how many countries can be visited without applying for a visa. While New Zealand failed to rank in the top five of…
New Zealand company Patton Limited has signed a memorandum of understanding (MoU) with one of Sri Lanka’s largest air conditioning and refrigeration company Frostaire Limited. The MoU outlines an agreement for the sole distribution of Patton brand of evaporators and condensing units for cold room applications in the Sri Lankan market. Like New Zealand, Sri…
Three students were selected to represent Sri Lanka at the Intel® International Science and Engineering Fair® (Intel ISEF) 2016, after they excelled at the recently-held Sri Lanka Science and Engineering Fair (SLSEF) 2016 with their innovative healthcare solutions. Master Chamindu Jayasanka from Hanwella Rajasinghe Central College was adjudged the winner at this year’s competition, whilst…
The recently concluded 3rd World Women Leadership Congress and World CSR Congress in Mumbai, recognized the top women leaders at Hemas for their outstanding leadership and achievements at an international level. Ms. Kasturi Wilson, Managing Director Hemas Group Transportation sector was awarded the prestigious “Outstanding Women Leadership Achievement Award” for her outstanding leadership and professionalism….
On the guidance of the Central Bank of Sri Lanka, the National Savings Bank board of directors has been entrusted to manage Entrust Securities PLC as its board of directors with effect from 12 January 2016, its company secretaries have informed the Colombo Stock Exchange. Accordingly, the board of directors at Entrust Securities PLC would…
Lanka ORIX Leasing Company PLC (LOLC) rang the opening bell to commence trading at the Colombo Stock Exchange (CSE) today (01). Mr. Vajira Kulatilaka, Chairman of CSE speaking at the event stated “We thank the LOLC Group for taking part in this market opening ceremony, which marks the first day of trading for the month…
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