Category: Other
Issues of fisherfolk affected by Colombo Financial City to be discussed
Oct 24, 2016 (LBO) – Sri Lanka’s Ministry of Megapolis has appointed a committee to look into the grievances being voiced by the fishing community due to the construction of the proposed Colombo Financial Center, previously called the Colombo Port City. The ten member committee will comprise five fishermen from the area and five personal […]
We value UN work in Sri Lanka: Mangala at 71st UN Day
This year marks 71 years since the United Nations was established. Following the one-year ’70-60 Campaign’ under the tagline ‘Our UN. අපේ UN. எங்கள் UN.’ (‘Our UN. Apey UN. Engal UN.’), the 2017 UN Day was held at the UN Compound to celebrate all international and national staff of the UN Agencies in Sri Lanka […]
Hutch hosts Group Roaming Conference in Sri Lanka
(PRESS RELEASE) – Group Global Roaming Conference where representatives from Hutchison mobile companies in United Kingdom, Europe and Asia were present to discuss way forward roaming strategy and collective initiatives. As global roaming rates remain to be a hot topic amongst overseas travelers around the globe, discussions at the conference ensued on the application of […]
First blockchain trade in cotton from Texas to China
Oct 24, 2016 (LBO) – Australia’s Commonwealth Bank and Wells Fargo have used blockchain, the technology behind the digital currency bitcoin that can secure financial transactions, in the first global trade transaction involving a shipment of cotton. The shipment of cotton was from Texas to Qingdao in China — the trade involved an open account […]
‘s proposed debenture BBB+(lka)(EXP)
Fitch Ratings has assigned Abans PLC’s (Abans; BBB+(lka)/Stable) proposed senior unsecured debenture issue of up to LKR1.5bn a National Long-Term Rating of ‘BBB+(lka)(EXP)’. The debentures will have tenors of three, four and five years and carry fixed and floating coupons. The debentures are to be listed on the Colombo Stock Exchange, with the proceeds to […]
Sri Lanka to issue gazette reducing essential drug prices today
Oct 21, 2016 (LBO) – The special gazette notification announcing the price reduction of 48 essential medical drugs will be issued midnight today, Health Minister Rajitha Senaratne said. Senaratne said that the prices of drugs will be reduced up to 85 percent through this gazette notification. The 48 essential medicines include those used in the […]
‘s proposed debenture issue A-(lka)(EXP)
Fitch Ratings has assigned Singer (Sri Lanka) PLC’s (Singer;A-(lka)/Stable) proposed senior unsecured debenture issue of up to LKR4bn a National Long-Term Rating of ‘A-(lka)(EXP)’. The debenture is to be issued at a fixed rate with a tenor of three years. The proceeds of the proposed issue will be used to refinance existing debt. Singer’s proposed […]
Opinion: Is electricity from Norachcholai coal power plant cheap?
By Vidhura Ralapanawe CEB (and the CEBEU) has been touting a cost of 5-6 Rupees for Norachcholai, saying that it is cheap. PUCSL approves the CEB’s bulk supply tariff every six months, and based on the last such approval, the fuel cost is Rs 5.75/kWh (based on a USD80/tonne delivered), the fixed cost (maintenance, salaries […]
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(PRESS RELEASE) – Fitch Ratings-Colombo-19 October 2016: Fitch Ratings has assigned Nations Trust Bank PLC’s (NTB: A(lka)/Stable) issue of subordinated debentures of up to LKR5bn a final National LongTerm rating of ‘A-(lka)’. The final rating is the same as the expected rating assigned on 15 September 2016, and follows the receipt of documents conforming to […]
Commercial Bank honoured in USA& Hong Kong
(PRESS RELEASE) – As the financial year draws to a close, the Commercial Bank of Ceylon has been presented with two more significant global awards in Washington DC and Hong Kong. Commercial Bank Chairman Mr Dharma Dheerasinghe and Managing Director Mr Jegan Durairatnam received the Global Finance award for the Best Bank in Sri Lanka […]
Sri Lanka wants to become self sufficient in sugar: Ravi
Oct 20, 2016 (LBO) – Sri Lanka will deploy new initiatives to become self-sufficient in sugar manufacture, Finance Minister Ravi Karunanayake said in a statement. Plans are underway to increase sugarcane cultivation and set up of 15 new manufacturing plants in the country, the statement said. The project will be implemented under two stages. Under […]
Sri Lanka to develop IT platform for tea with Rs220mn
Oct 19, 2016 (LBO) – Sri Lanka is to introduce an industry-wide and real-time IT solution to integrate functions associated with tea in order to improve productivity and quality across the industry. The proposed IT backbone will acquire, store, analyze and report on industry-related data and will integrate the entire value chain with efficient monitoring […]