Total income Rs 19.89 billion; Life Fund reaches Rs 68.01 billion; Investment portfolio grows to Rs 67.1 billion Ceylinco Life has ended 2015 on a characteristically strong note with total income of Rs 19.89 billion, of which premium income accounted for Rs 13.4 billion, keeping the company at the helm of the life insurance industry…
His Excellency Dr. Saman Weerasinghe, Ambassador of Sri Lanka to the Russian Federation called on Mr. G. Petrov, Vice President of the Chamber of Commerce and Industry of the Russian Federation on 10th February 2016. Ms. Tatiana Legchilina, the Deputy Director of the Chamber of Commerce and several representatives from the Tourism, Gem & Jewellery…
The international rating agency, Fitch Ratings downgrading Sri Lanka’s credit rating yesterday (29 February) from its earlier BB- to B+ is normal, said Colombo Stock Exchange Chairman Vajira Kulatilleke while responding to an inquiry by Ada Derana Biz. While adding further, Vajira Kulatilleke said, “Initially there may be overreaction. This may cause some impact. Nobody…
Schüco India is proud to announce a new partnership in Sri Lanka with Asoka Glass & Mirror, Colombo Sri Lanka. In a recent geographic expansion for Schueco India operations in another country, Schueco has tied-up with Asoka Glass & Mirror. The fabrication partner is a renowned name in Sri Lanka and is considered a pioneer…
Fitch Ratings-Hong Kong-29 February 2016: Fitch Ratings has downgraded Sri Lanka’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to ‘B+’ from ‘BB-‘. A Negative Outlook has been assigned to the IDRs. The issue ratings on Sri Lanka’s senior unsecured foreign- and local-currency bonds are also downgraded to ‘B+’ from ‘BB-‘. The Country Ceiling is…
Sri Lanka Telecom PLC (SLT) released its Company and Group financial performance during the year 2015. The group comprises of the holding Company Sri Lanka Telecom PLC and 8 subsidiaries, including the mobile arm Mobitel (Pvt) Ltd. During the year 2015 the group was able to identify strong technology opportunities, accelerated programmes and remain in…
In a breakthrough for Sri Lanka’s incoming industry FDIs, Thailand, for the first time, has sent a team of its specialized officials to study Sri Lanka’s rapidly changing industry and investment outlook-and the first official Thai study team comes from the powerful Thai BoI Office itself. “More Thai businesses have inquired about Sri Lanka from…
The Ceylon Chamber of Commerce, the country’s premier business Chamber, is pleased to announce the appointment of Mrs. Dhara Wijayatilake, Attorney-at-Law, as its new CEO w.e.f. 1st March, 2016. Her appointment to the 176 year old Institution comes following the resignation of Mr. Mangala P. B. Yapa, who served as the CEO of the Ceylon…
The first ever Sri Lanka-Russia official trade talks were successfully concluded in Moscow on 12 February. The talks covered a wide array of relevant topics-with Russian side showing an extra interest in agricultural cooperation. The Sri Lanka-Russia Intergovernmental Joint Commission on Trade, Economic, Science and Technical Cooperation, is one of the primary mechanisms to discuss…
The International Tourism Conference will be held at Pasikuda in July -2016 sponsored by United Nations World Tourism Organization (UNWTO). This conference in July will be able to connect both districts of Batticaloa and Trincomalee with the participation of nearly 100 to 150 tourists from various parts of the world. This is a Nations World…
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