Ceylon Hotels Corporation PLC has incorporated a joint venture company called Ceylon Holidays Holdings (Pvt) Limited after entering into an agreement with Zinc Hospitality Lanka (Private) Limited, the hospitality arm of the multinational conglomerate Cinnovation/CG Group. Ceylon Holidays Holdings (Pvt) Limited is currently a fully owned subsidiary of Ceylon Hotels Corporation PLC. Zinc Hospitality Lanka…
Attention has been drawn towards importing fish from the Seychelles for the consumers in Sri Lanka and discussions have already begun on this issue, said Seychelles Trade and Investments Minister Pierre Laporte in Colombo. Sri Lanka is in the process of strengthening ties with the Seychelles which is a group of islands with fisheries and…
Colombo shares regained the lost ground on Thursday as both indices closed with positive returns. Main index gained 6.85 points (+0.10%) to end at 6,991.76 whereas S&P SL 20 index marginally gained 3.04 points (+0.08%) to end at 3,845.87. Price progression in counters such as John Keells Holdings (closed at LKR 249.00, +1.6%), Lanka IOC…
The Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC), in association with the Sri Lankan Embassy in Washington D.C will host its first “Invest Sri Lanka – Investor Forum” in North America on the 4th of September in New York City. Bloomberg and the American Chamber of Commerce (AMCHAM)…
A memorandum of understanding was signed in Colombo this morning (28 August) between the Board of Investments of Sri Lanka and the Seychelles. He believes that this MoU would open up business opportunities in the Seychelles to Sri Lankan contractors, said Investment Promotion Minister Lakshman Yapa Abeywardene. While attending the event, Seychelles Trade and Investments…
Senkadagala Finance PLC has entered into a share purchase agreement with Newest Capital Limited to acquire 100 percent of the fully paid issued share capital for Rs. 300 million. Accordingly, from 25 August 2014, Newest Capital is a fully owned subsidiary of Senkadagala Finance PLC. This is under the Master Plan for the Consolidation of…
The long and short term financial ratings of HDFC Bank have been upgraded to BBB+ and P2 from its earlier BBB and P3 by Lanka Rating Agency Limited. The outlook on the long term rating is stable. Currently, long term issue ratings of Sri Lankan Rupees 2 billion secured senior listed debenture (2013/2018) has been…
Kia Motors Corp. (000270) plans to build its first assembly plant in Mexico as the South Korean automaker follows European and Asian rivals in adding regional production. Mexican President Enrique Pena Nieto said today the company will invest more than $1 billion in the factory and attract another $1.5 billion from Kia suppliers in Mexico….
Christine Lagarde, the head of the International Monetary Fund, has been placed under formal investigation in France for her alleged involvement in a long-running fraud case. Under French law, a formal investigation means prosecutors believe they have serious evidence implicating a suspect in a crime. It does not necessarily lead to charges or a trial….
Colombo equity market witnessed negative returns on Wednesday amid sluggish activity seen among the foreign investors. ASI lost 28.41 index points or 0.41% to end at 6,984.91 while 20-scrip S&P SL index slipped by 9.02 index points or 0.23% to close at 3,842.83. Price declines in counters such as Lion Brewery (closed at LKR 606.00,…
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