Fitch Ratings Lanka has affirmed Sri Lanka Insurance Corporation Limited’s (SLIC) Insurer Financial Strength rating (IFS) at ‘BB-‘ with a Stable Outlook. The agency has also affirmed the National Insurer Financial Strength Rating and National Long-Term Rating at ‘AA(lka)’ with a Stable Outlook. KEY RATING DRIVERS SLIC’s ratings reflect the company’s well-established franchise and market…
Under a petition on Orient Garments PLC with respect to a winding up operation filed before the Western Province Provincial High Court on 03 March 2015, the company has taken immediate steps to oppose this winding up operation by filing an affidavit as per the terms of the Company Winding Up Provisions.
Under the Sri Lanka Central Bank’s master plan to consolidate the financial sector companies, Janashakthi PLC, earlier known as Janashakthi Limited, which had controlling interests over Orient Finance PLC, has entered into an agreement with Bartleets Transcapital Limited to acquire 86.79 per cent or 6,639,998 issues ordinary share capital of Bartleet Finance PLC with the…
Indian Prime Minister Narendra Modi’s official visit to Sri Lanka on Friday reflects a bounce back in bilateral relations as the South Asian power seeks to mitigate China’s growing influence on its Indian Ocean neighbors. Sri Lanka is the last stop on Modi’s trip after visits to Indian Ocean island states Seychelles and Mauritius. It…
Colombo Equities surrendered early gains and closed lower for the eighth straight session on Wednesday, recording the longest losing streak since February 2014 as rising interest rates continued to weigh on the investor sentiment. At today’s T-bill auction, the yields rose across the board with 3-month, 6-month and 1-year yield reaching 7.10% (+21bps), 7.31% (+33bps)…
Colombo equities witnessed lackluster trading session on Tuesday where market closed with mixed results. Main index continued the losing streak for the sixth consecutive day shedding 6.28 index points (-0.09%) to end at 7,130.05 while 20-scrip S&P SL index marginally gained 2.99 index points (+0.07%) to close at 4,087.97. Price declines in counters such as…
The Bank of Ceylon is on its alert to find out whether certain persons or parties are involved in obtaining low interest loans from state banks and depositing the funds in senior citizens’ fixed deposit accounts to obtain the specified 15 per cent interest rates, said Bank of Ceylon General Manager D.K. Gunasekera. Keen attention…
The Janatha Vimukthi Peramuna (JVP) would lodge a complaint with the Commission to Investigate Allegations on Bribery and Corruption on the allegations against the recent Treasury Bond issue of the Sri Lanka Central Bank, says JVP North Central Provincial Councillor Wasantha Samarasinghe. Allegations continue to be leveled that the recent 30 year Treasury Bonds issue…
While Dr. Saman Kelegama has been appointed as Chairman of Singer (Sri Lanka) PLC with effect from 01 April, its long-time Chairman and Director Hemaka Amarasuriya is to retired with effect from 31 March 2015. Dr. Kelegama is currently the Chairman of Singer Finance (Lanka) PLC and a Director of Singer (Sri Lanka) and Regnis…
Colombo equities started the weekly operations on a negative note continuing the bearish momentum amid thin market activities. The benchmark All share price index dropped to a nearly one month low of 7,136.33 with a drop of 47.17 points (-0.66%) while S&P SL 20 index lost 12.37 points or -0.30% to end at 4,084.68. Core…
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