Fitch Ratings has assigned LB Finance PLC’s (LB, A(lka)/Stable) outstanding Sri Lanka rupeedenominated subordinated debentures a National LongTerm Rating at ‘BBB+(lka)’. The debentures mature in 2016, 2017 and 2018 and have total value of LKR2.545bn. A full list of LB’s ratings is given below. KEY RATING DRIVERS The outstanding subordinated debentures are rated one notch…
The Business School of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), together with the internationally renowned Euromoney Training will conduct a proactive financial leadership programme exclusively for the country’s high profile finance professionals in March 2016. ‘The Game of a CFO’, a two day intensive programme will help Chief Financial Officers,…
Around 15 per cent of future consumers would resort to the internet for their purchases, say Chief Executive Officer of Sri Lanka’s prominent e-market organization Takas.lk, Lahiru Pathmalal. View the video where he said this during an interview with Ada Derana Biz 24X7:
The Commercial Bank of Ceylon has announced that its environment-related initiatives have made steady progress in 2015 with the installation of solar power systems at four branches, the award of tenders for five more branch conversions, and the acquisition of 20 more paperless deposit machines. Sri Lanka’s largest private bank said it is already generating…
Textured Jersey, the region’s premier fabric manufacturer was awarded the winning Gold at the Social Dialogue & Workplace Cooperation (SDE) Awards 2015, held at Nelumpokuna on December 17th 2015. The prestigious SD Excellence awards, Presented by the Social Dialogue & Work place Cooperation Unit of the Department of Labour and Industrial Relations, is the top…
The Department of Census and Statistics (DCS) released a new consumer price index on November 23, 2015. Since 1953, the Colombo Consumers’ Price Index remained as the official price index in Sri Lanka, and rebased subsequently in 2002 and 2006/07. The Colombo Consumer’s Price Index (CCPI) (2006/07=100) covered only the behavior of prices observed in…
Apple CEO Tim Cook was on 60 Minutes Sunday and was asked by Charlie Rose about his company’s manufacturing practices in China. He said that it has nothing to do with the fact that American workers demand higher wages. He said it was because the Chinese have more skill. “…Let me be clear,” Cook told…
Colombo bourse started the short trading week in opposite direction with a lackluster trading session as investor remained on sidelines ahead of the holidays. All share index snapped the five day winning streak to close at 6,881.75, down by 2.94 index points or 0.04% while S&P SL20 index gained 4.39 index points or 0.12% to…
The Australian billionaire James Packer has quit the board of Crown Resorts Ltd, four months after stepping down as chairman, as the casino group grapples with falling revenues in the Asian gambling hub of Macau. In a statement on Monday, Packer, who owns 53% of the A$9bn company, did not give a reason for stepping…
SriLankan Airlines became the first airline to offer BBC News, AFP Sports and AccuWeather with live updates while in flight on the latest Thales Avant System, giving passengers real-time information on news, sports and weather around the world. Chanaka Olagama, SriLankan’s Head of Service Delivery, said: “We at SriLankan Airlines are constantly seeking new and…
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