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Fitch Affirms Nations Trust Bank at ‘A(lka)’; Outlook Stable

Fitch Ratings Lanka has affirmed Sri Lanka-based Nations Trust Bank PLC’s (NTB) National Long-Term Rating at ‘A(lka)’. The Outlook is Stable. Fitch has also affirmed NTB’s subordinated debt at ‘A-(lka)’ and assigned an expected rating of ‘A(lka)(EXP)’ to its proposed senior unsecured debentures of up to LKR3bn. The final rating on the proposed debentures is…

(0)Comments | October 30, 2014 3:23 pm

Sri Lanka slips further down in World Bank’s ‘Doing Business’ index

Sri Lanka has slid from its earlier ranking at 85 to the current ranking of 99 in the World Bank’s ‘Doing Business’ index which categorises the most suitable countries to do business with. In this index prepared including 189 countries, the World Bank has said that it takes around four years for judiciary to legally…

(0)Comments | October 29, 2014 8:15 pm

Singapore tops World Bank business ranking for ninth year

Singapore has been ranked the best country to do business for a ninth consecutive year, according to an annual survey by the World Bank. New Zealand came second and Hong Kong third in the lender’s “Doing Business” report which rates 189 nations by the ease in which firms can operate there. The UK moved up…

(0)Comments | October 29, 2014 6:41 pm

Stock Market Review – 29th Oct 2014

Colombo bourse witnessed notable returns on Wednesday where main index advanced for the fifth consecutive day. ASI index bagged 38.78 index points or 0.54% to end at 7,265.90 while S&P SL20 index gained 21.33 index points (+0.53%) to close at 4,029.43. Price inclines in counters such as Lanka IOC, Lanka Orix Leasing Company & Hatton…

(0)Comments | October 29, 2014 6:09 pm

Why do Sri Lankan companies hesitate to reduce vehicle prices?

It has come to light that since the prices of motorcars and vans face a reduction according to the 2015 Budget proposals, vehicle importing companies have begun discussions with the government to urge for concessions on vehicles imported under the earlier duty system and hence they are yet to reduce the prices of motorcars and…

(0)Comments | October 29, 2014 1:23 pm

Sri Lanka’s Global Rubber Confab goes live in Colombo

The first ever Global Rubber Confab to take place in Sri Lanka went live in Colombo on 28 October morning with the host Sri Lanka vowing to become a ‘polymer hub’-with none other than the World Bank Washington praising the move. “By supplying both natural and synthetic rubber in parallel, there is a good possibility…

(0)Comments | October 29, 2014 6:23 am

Stock Market Review – 28th Oct 2014

Market closed in opposite directions on Tuesday as core index gained 6.04 points or 0.08% to end at 7,227.12 while S&P SL 20 index lost 6.12 points or 0.15% to end at 4,008.10. Price improvements in counters such as Ceylon Tobacco (closed at LKR 1,150.00, +1.1%), Ceylon Cold Stores (closed at LKR 265.00, +6.3%) and…

(0)Comments | October 28, 2014 8:09 pm

EXCLUSIVE: Finance Ministry studying issue of vehicle permits to Sri Lanka’s overseas workers

The Finance Ministry is currently involved in a special study of the procedures to issue duty free vehicle permits to Sri Lankans working overseas and remitting valuable foreign exchange to the country as proposed through the 2015 Budget proposals as a mark of gratitude for their services. The Budget has proposed that overseas workers could…

(0)Comments | October 28, 2014 9:49 am

Lanka Orix Leasing debenture issue

The Colombo Stock Exchange has approved Lanka Orix Leasing Company PLC to list its debt securities. Accordingly, 50 million senior unsecured redeemable rated debentures are to be offered at an issue price of Rs. 100 each. Subscription list opens on 18 November 2014 and the registrars to the issue are SSP Corporate Services Private Limited…

(0)Comments | October 27, 2014 9:38 pm

Stock Market Review – 27th Oct 2014

Colombo stock market started weekly operations on positive note where bourse managed to maintain momentum gained on last session. Core index advanced 7.60 index points or 0.11% to close at 7,221.08 while 20-scrip S&P SL index gained 10.43 index points (+0.26%) to close at 4,014.22. Price appreciations in John Keells Holdings (closed at LKR 250.00,…

(0)Comments | October 27, 2014 6:49 pm