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Fitch Upgrades Union Bank of Colombo to ‘BB+(lka)’

Fitch Ratings Lanka has upgraded Sri Lanka-based Union Bank of Colombo PLC’s (UB) National Long-Term Rating to ‘BB+(lka)’ from ‘BB(lka)’. The Outlook is Stable. KEY RATING DRIVERS – NATIONAL RATING The upgrade of UB’s rating reflects the sharp increase in its capitalisation and ongoing structural improvements in the bank’s credit profile. UB’s Fitch core capital…

(0)Comments | November 21, 2014 6:14 pm

Stock Market Review – 21st Nov 2014

Colombo bourse slumped significantly on Friday amid the crossover of several key ruling party Politicians to the opposition. Main index lost notably by 128.71 points (-1.71%) to end at 7,401.62. 20-script S&P SL index  lost 63.67 points (1.52%) to end at 4,127.26. This was the second highest intra-day drop for the year. All Share Price…

(0)Comments | November 21, 2014 5:57 pm

I will contest as the Common Candidate – Maithripala Sirisena

Dealing a massive blow to the ruling UPFA alliance ahead of the presidential polls, Minister Maithripala Sirisena, who is the General Secretary of its main constituent party SLFP, today announced that he will contest the forthcoming Election as the Common Opposition Candidate. “I thank all political parties and political groups for selecting me as the…

(0)Comments | November 21, 2014 5:12 pm

Fitch Rates Abans’ Debentures ‘BBB+(lka) (EXP)’

Fitch Ratings has assigned Abans Plc’s proposed issue of senior unsecured redeemable debentures of up to LKR2bn an expected National Long-Term rating of ‘BBB+(lka)(EXP)’. The rating is contingent upon the final transaction documents conforming to information already received. The proposed debentures are rated in line with the Sri Lanka-based retailer’s National Long- Term Rating of…

(0)Comments | November 21, 2014 1:59 pm

I hope to serve the country more in future – Maithripala

General Secretary of the Sri Lanka Freedom Party (SLFP) Maithripala Sirisena today said that after serving as the Minister of Health for a period of 5 years, he now looks forward to serving the country with greater commitment in the future. The Minister made these comments while addressing a ceremony at the Jana Kala Kendraya…

(0)Comments | November 21, 2014 12:12 pm

Volkswagen Golf named Car of the Year

You may not think of it as the most exciting car in the world, but the newly redesigned Volkswagen Golf compact car has been named Motor Trend magazine’s Car of the Year. The award is for all four available versions of the Golf. That includes the sporty Golf GTI, the diesel-powered Golf TDI, the electric-powered…

(0)Comments | November 21, 2014 11:11 am

Stock Market Review – 20th Nov 2014

Colombo equities marginally advanced on Thursday amid notable foreign inflow. Core index managed to increase by 5.23 index points or 0.07% to end at 7,530.33 while 20-scrip S&P SL index bagged 2.12 index points (+0.05%) to close at 4,190.23. Price inclines in counters such as Nestle Lanka (closed at LKR 2,235.00, +4.8%), John Keells Holdings…

(0)Comments | November 20, 2014 5:14 pm

Bob Marley to sell marijuana from the grave

As celebrity endorsements go, it’s a perfect fit. The late Jamaican reggae icon Bob Marley is poised to become the face of the world’s first global marijuana brand. “Marley Natural” will be available in 2015 in areas where cannabis is legal. That means Marley-branded pot, as well as hemp-infused lotions and creams, could be sold…

(0)Comments | November 20, 2014 4:24 pm

Lanka hosts World Packaging confab for the third time

Bringing global packaging honour to Sri Lanka, the World Packaging Confab kicked off in Colombo for the second time on 20 November-.and not only packaging related exports, even FMCG packaging sales are on the rise. “The upward trend in per capita consumption and the average packaging cost of FMCGs reporting a 10-15% sales growth shows…

(0)Comments | November 20, 2014 3:05 pm

MTD Walkers PLC records an outstanding performance for 1H 2014

With the vision to be at the forefront of infrastructure development in Sri Lanka, MTD Walkers PLC, a leading company for construction, manufacturing and engineering in Sri Lanka, recorded an impressive growth for the 2nd quarter of FY 2014/2015.  Compared with its performance in the previous financial year, the turnover for the 2nd quarter ended…

(0)Comments | November 19, 2014 11:28 pm