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Fitch upgrades BOC’s VR and Foreign- currency IDR to ‘cc’/’CC’

BusinessTags: Print EditionFitch Ratings has upgraded Bank of Ceylon’s (BOC) Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CC’ from ‘RD’ (Restricted Default). The rating does not carry an Outlook because of the high volatility…
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SriLankan to commence thrice weekly service to Shanghai

BusinessTags: Print EditionSriLankan Airlines is set to renew its commercial operations to China in the first week of April 2023, with a thrice weekly service each to Shanghai, Beijing and Guangzhou as China reopens its borders. China was a…
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SLPA Chairman visits HIPG

BusinessHIP CEO Johnson Liu and Deputy CEO Jack Huang updating the SLPA Chairman Keith D. Bernard on the port’s progress. Tags: Print EditionSri Lanka Ports Authority (SLPA) Chairman Keith D. Bernard, Vice Chairman G.U.K. Algewattage and…
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Teejay Lanka net profit up 17% to Rs. 1.97 Bn

BusinessTeejay Lanka Chairman Ajit Gunewardene and CEO Pubudu De SilvaTags: Print EditionTeejay Lanka PLC has reported strong revenue growth for the nine months ending December 31, 2022 as well as for the third quarter of the year, but…
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Aitken Spence reports cumulative first nine months PBT of 10.3 Bn

BusinessHarry Jayawardena Chairman and Parakrama Dissanayake Deputy Chairman and MDTags: Print EditionAitken Spence PLC reported a cumulative Profit Before Tax (PBT) of Rs. 10.3 Bn for the nine months ended December 31, 2022, which was a…
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National tea sales average up by Rs. 762.09 YoY

BusinessTags: Print EditionNational tea sales average for the month of January 2023 recorded Rs. 1,466.76 (USD 4.04). In comparison to the January 2022 average of Rs. 704.67 (USD 3.51), shows a significant increase of Rs. 762.09 YoY. When…
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Cargills opens high tech Central Warehouse in Katana

BusinessClaude GunasekeraLouis Page, Chairman of Cargills Group of Companies opening the new Central Warehouse Complex along with the Board of Directors. Picture by Wimal Karunathileke Tags: Print EditionCargills opened the high tech,…
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Nestlé invests Rs. 1 Bn in biomass boiler project

Highest ever coconut yield of 3.2 Bn nuts reported in 2022Coconut exports top unprecedented USD 850 Mn turnover BusinessFizel JabirMinister of Industries and Plantations Dr Ramesh Pathirana, Nestlé Lanka Managing Director, Jason Avancena…
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Police Officer taken into custody for accepting a bribe

LocalTags: Print EditionCommission to Investigate Allegations of Bribery or Corruption has taken a police officer into custody on a complaint made against the officer for accepting a bribe of Rs. 10,000 on 08 February 2023. The Police…
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