New Zealand Prime Minister John Key has urged New Zealand and Sri Lankan businesses to take advantage of the growing commercial opportunities between the two countries. “Our commercial ties have expanded well beyond the traditional dairy links to opportunities in sectors such as food and beverage, aviation, education, specialised manufacturing and the creative industries,” Mr…
Diesel and Motor Engineering (DIMO) PLC has for the second consecutive year, claimed the top award at the ACCA Sustainability Reporting Awards, held on the 24th February2016 at the Kingsbury Hotel. The awards recognise Sri Lankan companies for the transparency, accountability and responsibility of action as reflected in their Sustainability Reporting. In addition to being…
Seylan Bank reported a 24.25% increase in Profit before tax to reach Rs. 5,777 Million for the year ended 31st December 2015. The Bank reported a record Profit after Tax figure of Rs 3,831 Million for the year ended 31st December 2015. This is an impressive 24.44% growth in PAT compared to the Rs 3,079…
Fitch Ratings has affirmed Distilleries Company of Sri Lanka PLC’s (DIST) National Long-Term Rating at ‘AAA(lka)’. The Outlook is Stable. KEY RATING DRIVERS Leading Alcohol Manufacturer: DIST continues to be the market leader in alcoholic beverage production in Sri Lanka due to its strong brands, which drive demand and access to retail points across the…
The LOLC Group is pleased to announce a landmark syndication obtained by three of its key financial institutions. The official signing ceremony of the loan agreements took place at the Cinnamon Grand Hotel in the presence of the Honourable Minister of Finance, Mr. Ravi Karunanayake, the Governor of the Central Bank of Sri Lanka, Mr….
The 11th round of Iran-Sri Lanka trade talks wrapped successfully on 24 February in Colombo. The first trade talks to be held with Sri Lanka by a post-sanctions Iranian administration, the tightly scheduled one-day Colombo sessions deliberated on a multitude –but critical- gamut of issues that spanned from trade, energy to mining, culture and health….
Finance Minister Ravi Karunanayake says that Iran has responded positively for request made by Sri Lanka for purchasing oil at a concessionary price. According to the Minister, discussions in this regard are due to be held between the two countries shortly. Minister Karunanayake stated this following discussions held at the Finance Ministry yesterday (24) with…
The Ceylon Chamber of Commerce has consistently supported the expansion of Sri Lanka’s trade interests through signing mutually beneficial and well-designed trade agreements, and this has been clearly articulated in our ‘10 Principles’ on the economy. The Chamber believes that such agreements are an important tool in deepening trade and investment opportunities for our businesses,…
Fitch Ratings has assigned Singer Sri Lanka PLC’s (Singer, A-(lka)/Stable) proposed senior debentures of up to LKR2bn a final National Long-Term Rating of ‘A-(lka)’. The assignment of the final rating follows the receipt of documents conforming to information already received, and the final rating is the same as the expected rating assigned on 15 December…
A pioneering private sector investment to support the Sri Lankan dairy industry Fonterra’s first Sri Lankan demonstration and training farm was Wednesday (24) officially opened by New Zealand Prime Minister John Key, Minister of Sustainable Development & Wildlife and MP for the Kurunegala District Gamini Jayawickrama Perera, and Fonterra Chairman John Wilson. The opening was…
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