‘CB made substantial gains in reserve management’
The attention of the Central Bank (CB) has been
drawn to several one-sided media reports which have alleged that the
Bank has lost heavily by investing in Greek Bonds. Some reports have
also claimed that the Central Bank was summoned to the Committee on
Public Enterprises (COPE) at the request of an Opposition MP.
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Fitch upgrades People’s Bank and subsidiaries
Fitch Ratings has upgraded Sri Lanka’s People’s
Bank (PB) and its subsidiaries People’s Leasing Company PLC (PLC),
and People’s Finance PLC (PF), by a notch each. The Outlooks are
Stable. At the same time the agency has affirmed PB’s associate
company People’s Merchant Finance PLC (PMF, 36% effective ownership
by PB) at ‘BB+(lka)’ with Stable Outlook. A full list of rating
actions is provided at the end of this commentary.
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‘Lanka food exports surge by 41% to $ 95 m’
Sri Lanka’s processed food exports rose by 41%
topping $ 95 million in 2011. Both food and packaging sectors in Sri
Lanka have seen rapid modernization and expansion in recent times.
As a result of many concessions that have been offered by the
government to these sectors exports from the Processed Food industry
last year stood at 94.84 million US dollars which was a considerable
increase of 41 percent in 2011 compared to 2010,” said Rishad
Bathiudeen, Minister of Industry and Commerce of Sri Lanka
addressing the inauguration event of the ‘Profood Propack
International Exhibition 2012’ at the BMICH, Colombo.
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Sierra Global to launch E-waste program in telecom services
sector
Sierra Global Network Private Limited, a leading
infrastructure development and managed services firm in Sri Lanka
showing its true dedication to the environment has joined hands with
Think Green, a licensed company approved by the Central
Environmental Authority (CEA) of Sri Lanka for pioneering in
providing safe and reliable electronic waste management services in
Sri Lanka.
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