New banks should also comply with new capital requirements: CB
Oct 26, 2017 (LBO) – New banks to be established or incorporated in Sri Lanka are required to meet new minimum capital requirements with immediate effect, …
Companies
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Fitch rates first Sri Lanka Basel III sub debt; Sampath final A(lka)
Oct 16, 2017 (LBO) – Fitch Ratings has assigned Sampath Bank's proposed Basel III-compliant subordinated debentures a National Long-Term Rating of 'A(lka)'. …
Sri Lanka’s Dialog Axiata introduces mobile payment app
Oct 06, 2017 (LBO) – Sri Lanka’s diversified telco operator Dialog Axiata has introduced a mobile payment app which enables bill payments directly through …
Shareholders approve Sampath Bank’s Basel III compliant debt issue
Oct 06, 2017 (LBO) – Shareholders of Sri Lanka’s Sampath Bank have approved the proposed Basel III compliant debenture issue at the Extra Ordinary General …
Sri Lanka’s Asiri Surgical to start comprehensive cancer treatment
Oct 04, 2017 (LBO) – Sri Lanka’s Asiri Surgical Hospital has divested half of its stake in Asiri AOI to India-based Cancer Treatment Services Hyderabad for …
Sri Lanka’s Nations Trust Bank to issue listed debt
Sep 28, 2017 (LBO) – Sri Lanka’s Nations Trust Bank is to issue listed rated unsecured subordinated redeemable debentures worth 3.5 billion rupees to meet …
Fitch maintains rating watch negative on Distilleries Company
Sep 27, 2017 (LBO) – Fitch Ratings has maintained the Rating Watch Negative (RWN) on alcoholic beverage manufacturer Distilleries Company's (DIST) National …
Fitch affirms Sri Lanka’s Abans at BBB+(lka); outlook stable
Fitch Ratings has affirmed Sri Lanka-based retailer Abans PLC's (Abans) National Long-Term Rating at 'BBB+(lka)' with a Stable outlook. Fitch has also …
Harry Jayawardena reappointed to Distilleries as Melstacorp nominee
Sep 22, 2017 (LBO) – Sri Lanka’s business tycoon Harry Jayawardena has been reappointed to the board of Distilleries as a nominee of Melstacorp.online …
New US Trade Rep assures no major changes in trade policy on Sri Lanka
Sep 18, 2017 (LBO) – The United States has stressed that there shall be no major change in its trade policy towards Sri Lanka in the aftermath of its new …
Hayleys Group buys 62-pct stake in Singer Sri Lanka
Sep 13, 2017 (LBO) – Sri Lanka’s diversified Hayleys PLC has entered into an agreement with Retail Holdings (Sri Lanka) BV of Netherlands to purchase 61. …
CSE and SEC to host next Invest Sri Lanka Forum in New York
The “Invest Sri Lanka Investor Forum” organized by the Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC) in …
PwC Sri Lanka launches Oracle Cloud Application consulting practice
In an effort aimed at helping business enterprises in the country keep up with changing times and embrace digital solutions, PwC Sri Lanka recently launched …
Sri Lanka’s first-ever portal for free corporate secretarial advice launched
Internationally acclaimed Chartered Corporate Secretary Isura Sirisena recently launched Sri Lanka’s first-ever online portal for free corporate secretarial …
Sri Lankan banking system outlook negative on macroeconomic risks: Moody’s
Aug 31, 2017 (LBO) – Moody's Investors Service says that the outlook for Sri Lanka's banking system is negative, with both asset quality and profitability …
Melstacorp increases shareholding of Aitken Spence
Aug 31, 2017 (LBO) – Sri Lanka’s diversified Melstacorp has further increased its shareholding at Aitken Spence by 1.99 percent of the issued share capital …
Dilmah Ceylon to consolidate, acquire export business of MJF Teas
Aug 30, 2017 (LBO) – Sri Lanka’s global tea brand Dilmah Ceylon Tea Company is to acquire the tea export business of MJF Teas (Private) Limited for 442.5 …
Sri Lanka expects accession to Madrid Protocol for trademarks in 2018
Aug 21, 2017 (LBO) – Sri Lanka plans to complete its historic accession to the international trademark system called the Madrid Protocol by August next year. …
Janashakthi records 11-pct GWP growth in first six months
Aug 17, 2017 (LBO) - Janashakthi Insurance PLC (Janashakthi) registered consolidated Gross Written Premium (GWP) of Rs. 7.22 billion for the six months period …
Amãna Takaful Group bounces back from losses to Rs93mn profit
93 Million at the half year ending June 2017. This compares to a loss of Rs. 42 Million over the same period in 2016. The Group’s Gross Written Premium (GWP) …