Fitch Ratings-Colombo/Hong Kong-21 May 2015: Fitch Ratings Lanka has affirmed Sanasa Development Bank PLC’s (SDB) National Long-Term Rating at ‘BB+(lka)’. The Outlook is Stable. KEY RATING DRIVERS The rating captures SDB’s high exposure to the retail and lower-end SME segments, its weak asset quality, and pressure on capitalisation due to strong loan growth. The rating…
The Board of Directors of Kalpitiya Beach Resorts PLC wishes to clarify its position with regard to the allegations levelled by certain media. Kalpitiya Beach Resorts PLC (KBR PLC) is a subsidiary of Citrus Leisure PLC, and is one of three ambitious resort ventures undertaken by the Group. Two of those projects, in Hikkaduwa and…
Sri Lanka is a paradise for Sapphires and foreigners in the past have and come today to either Colombo or Ratnapura in search of Sapphires said chairman of the International Colored Gem Stones Association, Benjamin Hackman. He made this comment while attending the International Colored Gem Stones Congress held by the International Colored Gem Stones…
Colombo stock witnessed positive returns on Wednesday amid the continued drop in T-bill yields for the tenth consecutive week. During the opening hours, bourse crossed 7,296 mark but failed to maintain the positive momentum where main index gained 23.57 index points or 0.32% to close at 7,289.77. 20-scrip S&P SL index bagged 26.69 index points…
A software which could assist in preventing Sri Lanka maritime zone from being polluted by arriving ships has been prepared jointly by the Information and Communication Technology Agency of Sri Lanka (ICTA) and the Marine Environment Protection Authority (MEPA). This software enables the systematic and efficient removal of garbage or pollutants in vessels arriving to…
By W.A Wijewardena Treating losses lightly by the Central Bank The Central Bank has issued a response to the article of this writer in this series titled ‘The continually loss-making Central Bank puts nation on red alert’. The reading of the response reveals that while the arguments presented have been flimsy, the Central Bank has…
Sri Lanka is set to possess maritime borders extending up to 800 kilometres from shore in 2018 and it is believed that there are oil and natural gas deposits within these maritime areas said National Ocean Affairs Committee chairman Chris Tilaka Sri Dharmakeerthi. During an exclusive interview with www.adaderanabiz.lk he added, Sri Lanka is now…
Colombo bourse ended with positive returns on Tuesday as benchmark All Share Price index gained 11.18 points or 0.15% to end at 7,266.20 while S&P SL 20 index gained 9.51 points (+0.24%) to end at 4,046.83. Price advancements in counters such as Aitken Spence Hotel Holdings (closed at LKR 83.90, +6.2%), Ceylon Tea Services (closed…
Lanka IOC (LIOC) which showed profits of Rs. 722 million during the first quarter of 2014 has recorded a loss of Rs. 1.06 billion during the March quarter of 2015 in the face of the fuel price reductions by the government, reveals its annual report. In January this year the government reduced the prices of…
A new state-of-the-art facility for the manufacture of motorcycle tyres for the local and international markets has been commissioned in Sri Lanka by CEAT Kelani Holdings, the company that manufactures half of the country’s tyre requirements. Set up within the CEAT Kelani complex at Kelaniya with an initial investment of Rs 95 million, the new…
Video Story
