One of Sri Lanka’s leading companies, Diesel & Motor Engineering PLC won the coveted ‘Cyril Gardiner Memorial Trophy’ Gold Award for Overall Excellence in Annual Financial Reporting at the grand finale of the 51st Annual Report Awards Competition, organized by the Institute of Chartered Accountants of Sri Lanka. The silver award was won by John…
By Sarah Hettiaratchi, Project Executive – Pathfinder Foundation The Maritime Silk Road (MSR) and Economic Belt policy initiatives unveiled by President Xi Jinping in 2013 were identified as significant elements of an overall Chinese attempt to leverage China’s growing economic power and influence along its geographic boundaries. The objectives of this enormous development initiative is…
Colombo stock market bounced back to record gains on Thursday, snapping the six day losing streak amid high foreign investor participation. All share index bagged 17.87 index points (+0.26%) to end the session at 6,880.66 while 20-scrip S&P SL index gained 8.35 index points or 0.23% to close at 3,646.10. Today’s gains were driven by…
Due to the extension of the Chennai International Airport closure, SriLankan Airlines has cancelled fourteen more flights between Colombo and Chennai. Accordingly, the flights UL 128, UL 129, UL 123, UL 124 of December 3, UL 125, UL 126, UL 121, UL 122, UL 127, UL 128, UL 123, UL 124 of December 4 and…
Colombo Stock Exchange (CSE) announces that CSE is adopting the Global Industry Classification Standard (GICS) to classify its listed companies along with S&P/CSE cobranded sector indices. The Global Industry Classification Standard (GICS®) was jointly developed by Standard & Poor’s and MSCI Barra to meet the global financial community’s need for one complete, consistent set of…
Citrus Leisure celebrated its 5th anniversary this week, by reflecting on the strides made since inception. The Citrus brand was first introduced to the Sri Lankan leisure and tourism landscape in 2010 following a management change in the former Reefcomber PLC. The Company was renamed Citrus Leisure PLC and initially operated just 50 rooms at…
Fitch Ratings has assigned LB Finance PLC (LB) a National Long-Term Rating at ‘A-(lka)’ with a Stable Outlook. KEY RATING DRIVERS – NATIONAL RATINGS LB’s National Long-Term Rating reflects its established franchise among licensed finance companies (LFC), whose higher yielding exposures have supported sound profitability. The rating also captures its relatively higher risk appetite as…
Colombo bourse closed with negative returns on Wednesday ahead of the voting on 02nd reading of the budget and extended the losing streak for the sixth consecutive day. Benchmark index advanced to 6,906 mark in the opening hours but failed to continue the momentum to close at 6,862.79, down by 32.40 index points or 0.47%….
Winners of the inaugural Tourism InSPIRE Awards attended a special awards dinner on Friday, November 27, 2015 in Legazpi City, Albay, Philippines hosted by the Tourism Promotions Board Philippines as part of the PATA New Tourism Frontiers Forum 2015. The awards were presented by Mr Mario Hardy, CEO, PATA and Ms Loraine Gatlabayan, Regional Office…
Hayleys PLC was ranked the No.1 company in the LMD’s Top 100 listed companies of Sri Lanka this week. The award was received by Chairman & Chief Executive, Hayleys Plc, Mr. Mohan Pandithage at a gala event organized by CIMA-LMD. Many business sectors of the Hayleys Group have been leaders in their respective sectors for…
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