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Wednesday, 26 December 2012

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Foreign remittance tops US $ 6 mn mark

Sri Lankan foreign remittances will reach a record US $ 6 million mark by the end of this year. This figure was US $ 5.2 billion last year and $ 4.7 billion in 2010. One of the main reasons for the figure rise was the policy shift of sending more qualified and semi qualified Sri Lankans for overseas employment. In addition moving away from the traditional Gulf market too has helped Sri Lanka to consolidate its position in the foreign remittance market.

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Fitch rates Abans's Commercial Paper ‘F2 (lka)’

Fitch Ratings has assigned Sri Lanka's Abans Pvt Limited's (Abans, ‘A-(lka)/Stable’) commercial paper (CP) issue of up to Rs 250 million a National Short-Term rating of ‘F2(lka)'.

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'Capital market important component of financial sector'

The capital market is a very important component of the financial sector which supplements the role of the banking system in the economic developments of our country, said Dr Sarath Amunugama, Senior Minister of International Monetary Co-operation and Deputy Minister of Finance and Planning, speaking at the Security Exchange Commission (SEC) awards ceremony last Saturday at BMICH.

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Leo Burnett celebrated their success of 2012 in Colombo last week and the agency claimed that 2012 was the best year for them in terms of both revenue and global accolade. The regions most respected publication, Campaign Asia, names them
as the Agency of the year in the rest of South Asia and also conferred Leo Burnett the honour of being the joint winner as South Asia’s Agency of the Year. The Agency also brought home Sri Lanka’s first ‘Cannes Lion as well. Some of the staff celebrating their victory with Managing Director, Ranil De Silva. Picture by Saliya Rupasinghe



 
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