* Bolsters General Insurance Foothold with AIA General Insurance Lanka Limited Acquisition Janashakthi Insurance PLC., (Janashakthi) recorded a 15% Year-on-Year (YoY) growth in consolidated Gross Written Premium (GWP) in the first nine months of 2015 to end the quarter with a consolidated GWP of over Rs.7.351 billion and Profit Before Tax (PBT) of Rs.337 million….
A bilateral aviation agreement has been signed between Sri Lanka and Serbia. Under this agreement Serbia’s national airline AirSerbia would be provided facilities to land at as well as for its flights to take off to other countries from the Mattala International Airport. This is one among a series of plans by the government to…
The Thailand International Cooperation Agency is to launch a scholarship and training programme under a five year plan for the development of human resources in Sri Lanka. Thailand assists immensely in Sri Lanka’s human resources development under the Thai-Sri Lanka bilateral technological cooperation. It has provided scholarships and training to Sri Lankans in the agriculture,…
The Federal Minister for Commerce Engr. Khurram Dastgir Khan called on Sri Lankan President Hon. Maithripala Sirisena at President’s Secretariat Wednesday evening. The Minister for Commerce was accompanied by High Commissioner of Pakistan in Sri Lanka Maj. Gen. (R) Syed Shakeel Hussain, Deputy High Commissioner Dr. Sarfraz Sipra and Director Ahsan Riaz Chaodhry. The Sri…
An unidentified piece of space debris is expected to enter Earth’s atmosphere and land in the Indian ocean, off the southern coast of Sri Lanka today (Friday, November 13) at approximately 11.50 a.m., ending its decades-long journey in the universe. An European Space Agency (ESA) team have already positioned themselves along the southern tip of…
Colombo bourse extended losing streak for the third consecutive day amid the low investor activity levels. Benchmark index dipped below 7,000 mark for the fourth time during the month but managed to close at 7,006.35, down by 12.88 index points or 0.18% while 20-scrip S&P SL index shed 7.27 index points or 0.19% to close…
Deposits grow by Rs 6.6 bn. a month to Rs 588.9 bn.; Loan book up 19% to Rs 481.9bn. The Commercial Bank of Ceylon PLC has reported Profit Before Tax of Rs 12.190 billion for the nine months ending 30th September 2015, achieving a creditable 8.72% growth despite narrowing margins and substantially lower capital gains…
The High Court of Avissawella granted the Revision Application filed by Hanwella Rubber Products seeking to revise and set aside the Magistrate’s order compelling the Factory to be closed. Accordingly, the Factory is able to continue its operations uninterrupted adhering to the Environmental Protection License. This is a significant Judgment for the Company who always…
The Share Warrants issued by John Keells Holdings PLC (2015 Warrants – JKH.W0022) expire today (12 November). Any person who possesses such a warrant for 2015 should change it to an ordinary voting share by paying Rs. 161.87 for each. While John Keells Holdings PLC has issues 50,281,136 share warrants for 2015, it expects to…
Improvements in profitability, asset quality, ROA and track record major contributors for upgrade ICRA Lanka Limited, a Group Company of Moody’s Investor Services has upgraded the credit rating of LOLC (Lanka ORIX Leasing Company PLC) and its financial services subsidiaries LOLC Finance PLC (LOFC) and Commercial Leasing & Finance PLC (CLC) to [SL] A with…
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