Reuters – Sri Lankan shares ended steady at their lowest close in a month on Wednesday as investors cautiously awaited directions from next month’s national budget and a flurry of corporate results. The benchmark index of the Colombo Stock Exchange ended 0.02 percent firmer at 6,444.39, hovering at its lowest close since Sept. 20 hit…
Fitch Ratings Lanka has downgraded Pan Asia Banking Corporation PLC’s (PABC) National Long-Term Rating to ‘BBB-(lka)’ from ‘BBB(lka)’. The Outlook is revised to Stable from Negative. The agency has also revised the Outlook on the National Long-Term Rating of Union Bank of Colombo PLC (UB) to Positive from Stable, and affirmed its rating at ‘BB+(lka)’….
Colombo’s skyline-defining high rise development Altair has generated strong interest in Canada following a series of events and meetings in Toronto recently, promoter Indocean Developers reports. The company was a sponsor of the 25th anniversary celebrations of the Canadian Tamils’ Chamber of Commerce and participated in a day-long forum and a gala dinner organised as…
Trading of shares from Central Investments & Finance Limited (CIFL) was halted at the Colombo Stock Exchange (CSE) this morning (19 October). According to the CSE, this step had been taken pending a clarification from the company. According to a statement from the Central Bank of Sri Lanka, while a final decision has been announced…
Tissa Wickramasinghe the only South Asian speaker at crucial industry forum The Port of Colombo received invaluable global visibility recently when a representative of Colombo International Container Terminals (CICT) was accorded the rare honour of making a presentation at the 2016 TPM Asia Conference in Shenzhen, China. Tissa Wickramasinghe, CICT’s General Manager – Commercial &…
A radial and heavy duty tyre manufacturing plant to be established in Sri Lanka with an investment capital of USD 75 million within four years has received the Cabinet nod. This factory is to create over 1,000 local job opportunities. The proposal put forward by Strategic Development and International Trade Minister Malik Samarawickrama to provide…
The World University Service Canada (WUSC) in collaboration with Sri Lanka Canada Business Council (SLCBC) of the Ceylon Chamber of Commerce hosted a CEOs breakfast presentation and networking session at the Kingsbury Hotel with Canadian CSR coach Steven Fish, Executive Director of Canadian Business for Social Responsibility (CBSR). This session was graced by the High…
As announced to the public on 10.10.2016, the Monetary Board at its meeting held on 14.10.2016 considered resolution issues pertaining to a number of non-bank financial institutions in the context of relevant legal provisions in the interest of protecting the public trust in the financial system. Accordingly, the Monetary Board approved a resolution mechanism for…
Sri Lanka’s national carrier, SriLankan Airlines has imposed a total ban on the carriage and usage of ‘Samsung Note 7’ on board the SriLankan and Mihin Lanka aircraft with immediate effect. The ban comes into effect subsequent to the series of incident reported on explosions of the device when connected to power. With the Airline’s…
Local and international policymakers, experts and practitioners gathered today in Colombo, Sri Lanka, at the launch of an international roundtable on the role of Sustainable Consumption and Production (SCP) in climate change mitigation and adaptation in Asia. The event was organised by the European Union’s SWITCH-Asia Programme in cooperation with the Ministry of Mahaweli Development…
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