Fitch Ratings has upgraded Sri Lanka-based Hemas Holdings PLC’s (Hemas) National Long-Term Rating to ‘AA-(lka)’ from ‘A+(lka)’. The Outlook is Stable. It has also upgraded the National Long-Term Rating on Hemas’s senior unsecured debentures to ‘AA-(lka) from ‘A+ (lka)’. The upgrade reflects the company’s improved business risk profile, which is aided by its strong presence…
Sri Lankan shares edged up on Wednesday from a two-week closing low hit in the previous session on buying led by foreign investors and following a central bank decision to keep key policy rates steady. Foreign investors bought a net 161.7 million rupees ($1.09 million) worth of shares on Wednesday, but have sold 1.95 billion…
The Department of Commerce with the assistance of the Permanent Mission of Sri Lanka to the WTO and the Technical Assistance Division of the WTO Secretariat in Geneva will organize workshop on ‘Trade Remedies’ in Colombo, on the 08th April 2016. The objective of this workshop which is to be held on 8th of April…
The planned Megapolis project of the government is nothing new and it has been in progress since 1978, said Professor P.K.S. Mahanama, a member of the Planning Division at the Megapolis Implementation Project. While expressing views further, Prof. Mahanama said that Colombo is a Megacity and that the people in the country cannot live without…
For the first time in Sri Lankan history, the selling price of a US dollar topped the Sri Lankan Rs. 150 mark today (30 March). According to the daily exchange rates released by the Central Bank of Sri Lanka, the buying price of a US dollar recorded Rs. 146.52 and the selling price Rs. 150.54….
“A Home for Every Plantation Worker” initiative recognized for its long term focus A member of the Hayley’s Group – Kelani Valley Plantations PLC’s internationally recognized CSR initiative, ‘A Home for Every Plantation Worker’ was awarded the JASTECA CSR Gold Award at the recently concluded JASTECA Awards 2015. KVPL competed against corporate giants of Sri…
Sri Lanka’s central bank kept interest rates on hold on Tuesday as it gauges the impact of its recent tightening measures and monitors government efforts to secure a $1.5 billion IMF loan to avert a balance of payments crisis. The country has seen its currency tumble and foreign exchange reserves fall by more than a…
Seventh Ease of Doing Business forum, organized by the Ministry of Finance will be held on 30th March at 2:00 p.m. at the Main Auditorium of MILODA – Academy of Financial Studies Center in Colombo, the Finance Ministry said in a release. The Ministry has initiated a mission to maintain a continuous dialogue between the…
Finance Minister Ravi Karunanayake assures to take speedy measures to create an international market for local craftsmen. The Minister stated this after opening the Indo- Lanka traditional handicrafts and textiles exhibition at Mihilak Medura, BMICH recently.(26) Speaking further, the Minister said….. “I am ready to make the necessary interventions to create not only a local,…
Japan International Cooperation Agency (JICA) announced Monday (March 28) that it has signed an agreement with Sri Lanka to lend Rs. 56 billion (US$ 400 million) to expand the country’s main international airport in Colombo, according to a statement released by JICA. The agency said it will fund building a new passenger terminal at the…
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