Sri Lanka’s President Maithripala Sirisena visited the Central Bank of Sri Lanka (CBSL) on 9th July 2015. He was accompanied by Prime Minister Ranil Wickremesinghe. They were jointly received by Governor Arjuna Mahendran, members of the Monetary Board and the senior management of CBSL. A new silver coin minted for the 150th Birth Anniversary of…
Though the government was successful in adopting the 19th Amendment to the Constitution, it has failed to bring in the Audit Bill needed to eliminate corruption and establish a better monetary management and discipline, says President Maithripala Sirisena. During his special address on 14 July, he stated that when referring to Sri Lanka’s government sector…
People’s Leasing and Finance PLC has taken over as Managing Agents of People’s Merchant Finance PLC with effect from 14 July 2015.
* Clean Zone’ initiative promoting proper garbage disposal launched at two locations Softlogic Finance PLC has extended its ‘Clean Zone’ community initiative which is intended to enhance the cleanliness of the environment – by supporting proper disposal of garbage, for the benefit of the residents of the fast-growing Jaffna peninsula. Coinciding with the opening…
The Sri Lanka Business and Biodiversity Platform (SLBBP) of the Ceylon Chamber of Commerce signed an agreement with Dilmah Conservation for enhancing the scenic and biodiversity value of Ceylon Tea Trails – a chain of luxury bungalow resorts; Castlereigh, Summerville and Norwood – developed under the leisure arm of Dilmah. The Castlereigh reservoir is considered…
The present government is in possession of all relevant documents exchanged by the former government to obtain loans from China at interest rates as high as 6.3 per cent for the construction of the Hambantota harbour even when there were opportunities to obtain loans at interest rates as low as 1.4 per cent. This is…
Emirates has announced the promotion of Ahmed Shaffaq of Malé as the airline’s Aircraft Engineer in the Maldives. Mr Shaffaq, 30, who joined the Dubai-based international airline as Senior Aircraft Mechanic in 2007, is the first Maldivian to be employed by Emirates in the Maldives as Aircraft Engineer. On completion of his secondary and high…
Cold Stone Creamery® is excited to announce its entry into India and Sri Lanka. Kahala Brands™, the parent company of the Cold Stone Creamery brand (www.ColdStoneCreamery.com), has joined forces with Tablez Food Company, part of Lulu Group International, LLC, to bring the Ultimate Ice Cream Experience® to the ice cream lovers of India and Sri…
The Chinese sharemarket has been described as a casino in recent weeks after a 30 per cent fall had investors, regulators and economists around the world scrambling. There are concerns that the fallout from the crash will spill over into the Chinese economy, crimping discretionary spending as investors reel from their losses. Logic says this…
Fitch Ratings Lanka Ltd has downgraded Siyapath Finance PLC’s National Long-term Rating to ‘A-(lka)’ from ‘A(lka)’.The outlook is stable. The credit rating agency has also downgraded Siyapath Finance PLC’s outstanding senior unsecured debentures to National Long-term Rating ‘A-(lka)’ and outstanding subordinated debentures ‘BBB+(lka)’ from ‘A-(lka)’. This is following the downgrading of the parent company Sampath…
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