Fitch rates PABC's Sub Debt at 'BBB-(lka)'

Fitch Ratings Lanka has assigned Pan Asia Banking Corporation PLC's (PABC) proposed subordinated debentures of up to LKR2.0bn a National Long- Term rating of 'BBB-(lka)'

Fitch affirms U.S. AAA rating, disagrees with S&P

Fitch Ratings has confirmed the United States' top-notch credit rating and, in blatant disagreement with rival Standard & Poor's, gave a vote of confidence to Washington's deficit-reduction efforts

Bourse rebounds

The market rebounded heavily to the positive zone today triggered by the favorable reply received from the Securities and Exchange Commission regarding the credit issue. ASI reached 7000 milestone with this notable boom in the market

Stock Market Update... 15th August 2011

The All Share Price Index gained marginally 3.5 points to close at 6,836.5 (+0.1%), whilst the more liquid  Milanka Price Index also gained 12.9 points to close at 6,199.6 (+0.2%).

No statement from BIS: CB

Central Bank issuing a note of clarification a while ago said the bank has not been issued ‘an advisory statement’ by the Bank for International Settlement (BIS) as stated in a media report

Tea Exporters AGM on Friday

The 12th Annual General Meeting of the Tea Exporters Association will be held at 6.30 pm on Friday, 19 August, 2011 at the Grand Ballroom – Hotel Galadari Meridien, Colombo 1

Stock Market Update... 12th August 2011

The All Share Price Index gained 66.0 points to close at 6,833.1 (+1.0%), whilst the more liquid  Milanka Price Index also gained 77.8 points to close at 6,186.7 (+1.3%).

Life without polythene

Getting closer to nature Plastic Pakaging gets OK COMPOST certification for NaturPlus bags sans polythene Though celluloid is the key and most crucial word in the reel world, in real life Polythene and plastic are the most menacing substances that ruins the environment. The entire world is concerned about this serious factor and are coming up with novel methods to arrest the situation.

Time Warner to buy Insight for $3 billion: source

Time Warner Cable has reached a deal to buy The Carlyle Group's cable operator Insight Communications Co for around $3 billion in cash, a source familiar with the matter said on Sunday.

Stock Market Update... 11th August 2011

The All Share Price Index dipped 52.8 points to close at 6,767.1 (-0.8%), whilst the more liquid  Milanka Price Index also dipped 34.2 points to close at 6,109.0 (-0.6%).

Smart Media redefines Annual Reports, achieves world recognition

Smart Media – The Annual Report Company, continued its exceptional performance on the world stage with outstanding results at the League of American Communications Professionals (LACP) Vision Awards 2010. 

Pan Asia first half net up 169%

Pan Asia Bank announced the completion of a very successful first half in 2011, with Net Profit after Tax increasing to Rs 406 Mn which is 169 % better than  the  corresponding period for 2010. Bank’s Net Interest Income for the period rose by 43% to Rs 1,024 Mn from Rs 716 Mn in 2010 which came mainly from the core banking income.

Hutch rewards dealers with ‘Swarna Abhisheka’

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Stock Market Update... 19th July 2011

The All Share Price Index dipped 68.5 points to close at 6,675.7 (-1.0%), whilst the more liquid  Milanka Price Index also dipped 51.1 points to close at 6,198.2 (-0.8%).

Hayleys wins 5 Presidential Export Awards

Nationally significant export contributions by companies in the Hayleys Group have been acknowledged with five awards and a Certificate of Merit at the recently concluded Presidential Export Awards.

How workplace events change employee emotions, behaviour

AET states that work-related events, known as affective events,  occurring in workplaces cause specific emotional reactions in employees which in turn lead to attitudinal and behavioural changes in employees. AET marked the beginning of the study of the person level emotional changes in organizations and therefore is considered a seminal piece of work.

Scholarships for USA is a game changer –Dr.Harsha de Silva

When Dissa asked me if I could contribute a small piece on the tenth anniversary of the American university placement agency that he and Priyanthi run, I immediately said yes.  Even though with my rather hectic schedule it took me three months, here I am, getting down to it sitting in a hotel room in Philadelphia overlooking one of the finest academic institutions of America, the University of Pennsylvania. 

Unit Trusts support to plan investments

As a continuation of our discussions about Unit Trusts in the past three weeks, now is useful to understand the types of structures available in Sri Lanka. During the first decade of operation since beginning in 1991, it was only permitted to operate open - ended funds.

Amana Takaful launches “PROSPER” Sri Lanka’s first Sharia’h compliant Unit Liked Insurance Plan

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Stock Market Update... 16th May 2011

The All Share Price Index gained 38.7 points to close at 7,358.7 points (+0.5%), whilst the Milanka Price Index also gained 46.9 points to close at 6,816.2 points (+0.7%).

Stock Market Update... 05th May 2011

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Etisalat launches 3.75G network

Sri Lanka sees the dawn of a new era as Etisalat yesterday launched the country’s only 3.75 G network. As the telecommunications giant strides forth towards becoming Sri Lanka’s undisputed industry leader, with this launch Etisalat plans to expand Sri Lanka’s largest 3.75 G network with the latest and most cutting edge technology. 

Stock Market Update... 06th May 2011

The All Share Price Index gained 58.7 points to close at 7,377.9 points (+0.8%), whilst the Milanka Price Index also gained 23.5 to close at 6,760.4 points (+0.4%).

Insurance sector grows 19.63% in 2010

The Sri Lanka Insurance sector has recorded a 19.63 percent growth in 2010 compared with 2009, taking in a Gross Written Premium Income (GWMI) of Rs.68.4 billion, according to the data released by the insurance regulator, Insurance Board of Sri Lanka (IBSL)

Amana Bank and Bank Islam ink Partnership Agreement in KL

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Stock Market Update... 26th April 2011

The All Share Price Index gained marginally to close at 7,349.2 points (+0.1%), whilst the Milanka Price Index dipped 18.7 to close at 6,836.5 points (-0.3%).

Stock Market Update... 18th April 2011

The All Share Price Index dipped 27.1 points to close at 7,547.8 points (-0.4%), whilst the Milanka Price Index also dipped 25.6 points to close at 7,038.7 points (-0.4%).

Stock Market Update... 11th April 2011

The All Share Price Index gained 40.3 points to closed at 7,454.2 points (+0.5%), whilst the Milanka Price Index also gained marginally to close at 7,021.9 points (+0.0%).

Hong Kong International Tea Fair 2011

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Samson IT to distribute Dell products, solutions

Dell recently announced the addition of Samson Information Technologies (Pvt) Ltd (Samson IT) to the list of Dell partners in Sri Lanka. Samson IT, which is a member of the reputed DSI Samson Group, will now distribute Dell’s suite of commercial, consumer and enterprise products and solutions.