Fitch Ratings Lanka has assigned Sampath Bank PLC’s (Sampath; AA-(lka)/Stable) proposed subordinated debentures of up to LKR7bn an expected National Long-Term Rating of ‘A+(lka)(EXP)’. The debentures, which will have tenors of five years and carry fixed coupons, will be listed on the Colombo Stock Exchange. Sampath expects to use the proceeds to strengthen its Tier…
The Central Bank of Sri Lanka granted approval for Hatton National Bank PLC to invest in a stake of 51 per cent voting shares in Prime Grameen Micro Finance Limited. Following this Hatton National Bank has purchased 724,904,118 issued and fully paid up shares representing 51 per cent stake in Prime Grameen Micro Finance Limited…
Commercial Credit and Finance PLC has acquired 55,037,154 representing 96.89 per cent remaining shares of Trade Finance and Investments PLC at Rs. 28 per share. As a result of this acquisition the Commercial Credit and Finance shares in Trade Finance and Investments has exceeded the threshold of 30 per cent and it became obligatory for…
The Speaker of Parliament has certified the registration of the DFCC Bank as a public limited company incorporated with the name DFCC Bank PLC under the Companies Act on November 01, 2014. This would enable the DFCC Bank to carry out its activities as a licensed specialized bank from the date specified by the Minister….
Colombo shares started the weekly operations on a negative note as All share price index lost 12.77 points or 0.17% to end at 7,403.38 while 20-script S&P SL 20 index lost 7.43 points or 0.18% to end at 4,120.87. The losers were mainly led by counters such as DFCC Bank (closed at LKR 225.00, -1.8%),…
As Sri Lanka’s ornamental fish (O-fish) exports discovered promising new markets in 2013, the country’s first ever Global O-Fish Confab went live on 10 Monday with the presence of renowned int’l industry leaders and top government Ministers-and Sri Lanka’s O-Fish policies are developed with environmental sustainability and endemic species in mind. “Considering our government’s initiatives,…
Gold and silver prices have been in meltdown mode in recent weeks. Gold spent much of 2014 trading around $1,250 an ounce. Now it trades below $1,145 — its lowest level in over four years. Why are gold and silver going out of fashion with investors? It’s simple: The “end-of-the-world trade” is no longer popular….
Ada Derana ‘Biz 24X7’ Interview with the Chairman of the Urban Development Authority (UDA) Mr. Nimal Perera.
FRANKFURT (Reuters): BMW has developed street lights equipped with sockets to charge electric cars, it said on Friday, and will run a pilot project in Munich next year that uses existing local authority lighting networks. BMW said it has made two prototype “Light and Charge” street lights which combine efficient Light Emitting Diodes (LED) with…
Hayleys PLC, one of Sri Lanka’s leading conglomerates, in a filing to the Colombo Stock Exchange reported healthy growth in 1H of 2014/15. The Group achieved revenue growth of 15% amounting to Rs 45.5 Bn in 1H 2014/15; whilst Profit After Taxation (PAT) grew 30% in the second quarter contributing to a PAT of Rs….
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