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Last Updated = Fri, Dec 4, 2020, 01:16 pm SL Time

* The Colombo Stock Exchange completes its 35th year

Dec 04 (CP) Colombo- The licensed operator of the Sri Lankan stock market, the Colombo Stock Exchange (CSE) marks a historic milestone Thursday as it completes its 35th year. Given the entrepreneurial spirit of the Sri Lankan people, the Colombo Stock Exchange builds on a share trading tradition
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* NSB introduces special credit scheme for shrimp farming industry

Dec 04 (Island) National Savings Bank (NSB), in collaboration with one of its fully owned subsidiary, Sri Lanka Savings Bank(SLSB), has planned to introduce a special loan scheme to offer credit facilities under a lower interest rate with a view to accelerating the development of shrimp farming industry in Sri Lanka.
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* THASL calls for greater clarity on burning issues faced by industry

Dec 04 (DM) The Hotel Association of Sri Lanka (THASL) applauded President Goabaya Rajapaksa’s recent call to gradually restart the country’s tourism industry but expressed the need for greater clarity on the “burning issues” faced by the tourism sector going forward.
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* Export Development Board chairman resigns

Dec 03 (CP) Colombo- Chairman of the Sri Lanka Export Development Board (EDB) Prabhash Subasinghe has resigned from his post, according to EDB sources. As the Chairman of the Export Development Board, Prabhash Subasinghe has played a significant role in maintaining the export process in Sri Lanka even during the COVID-19 epidemic.
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* HNB launches ‘Season of Giving’ initiative to raise funds for SOS Children’s Villages via SOLO App

Dec 03 (CP) Colombo- Contributing towards the wellbeing of children who has lost parental care in Sri Lanka, leading private sector bank HNB PLC, announced the launch of the ‘Season of Giving’ fundraiser via its digital payment app, SOLO, in support of SOS Children’s Villages.
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* Fitch Downgrades SriLankan Airlines’ Government-Guaranteed Bonds to ‘CCC’

Dec 02 (CP) Colombo- Fitch Ratings has downgraded the rating on SriLankan Airlines Limited’s (SLA) USD175 million government-guaranteed 7% unsecured bonds due 25 June 2024 to ‘CCC’, from ‘B-’.
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* Bank of Ceylon successfully raises Rs.10bn via equity-like bond

Dec 02 (CP) Colombo- Sri Lanka’s No.1 Bank, Bank of Ceylon successfully raised Rs. 10 billion through the issuance of Basel III Compliant, Unlisted, Rated, Unsecured, Subordinated, Perpetual, Additional Tier 1 (AT1) Capital bonds with a non-viability full and permanent write down at an issue price of Rs. 100 each on 1st December 1, 2020.
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* ADB grants Sri Lanka USD 400 million loan to support secondary education reforms

Dec 02 (CP) Colombo- The Asian Development Bank (ADB) has approved a $400 million loan to support the Government of Sri Lanka in transforming its secondary education system to align with the demand for highly skilled and agile workers who can compete in the rapidly changing global economy.
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* SDB Bank rights issue oversubscribed

Dec 03 (DM) Sanasa Development Bank PLC (SDB Bank) raised Rs.1.53 billion via a rights issue concluded in November, becoming the first such fundraising carried out online, signalling that stocks and bond issuances could be successfully carried out via online channels when in-person interactions are interrupted.
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* Sri Lankan shares close near 2-1/2-yr high as financial, consumer stocks gain

Dec 02 (Reuters) Sri Lankan shares closed near a 2-1/2-year high on Wednesday, extending their rally for a seventh session, supported by gains in financial and consumer stocks.
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* Pan Asia Bank PBT soars by 47% to reach Rs. 1.86 bn

Dec 02 (DN) Pan Asia Banking Corporation PLC reported the best ever financial results in the 9 month period ended 30th September 2020 to report a Pre-tax profit of Rs.1,864.84 million and a Post tax profit of Rs.1,250.33 million,
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* Dialog Television empowers customers to activate their favorite channels via a toll-free missed call

Dec 04 (CP) Colombo- For the first time in Sri Lanka Pay-TV history, Dialog Television (DTV), Sri Lanka’s Premier Pay-TV Service Provider has introduced an exclusive service by allowing its customers to activate a single-channel or channel packs via a simple toll-free missed call from any network.
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* Sierra Cables posts Rs. 2.2 bn revenue in 2Q

Dec 04 (DN) Sierra Cables posted commendable results for the second quarter, registering a positive economic growth for the Company and for the economy posting a Group revenue of Rs 2.2 billion during the first half of 20/21 with a net profit of Rs 70 million.
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* Colombo Dockyard secures contract to build a cable laying and repair vessel for Orange Marine France

Dec 04 (CP) Colombo- Colombo Dockyard PLC (CDPLC), the leader of Shipbuilding Industry in Sri Lanka and one of the most competitive Shipyards in South Asia, secured a contract to build a Cable Laying and Repair Vessel (vessel) to Orange Marine France.
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* Sri Lankan shares rise as financial, consumer staples stocks gain

Dec 03 (Reuters) Sri Lankan shares extended their rise for an eighth straight session on Thursday, helped by gains in financial and consumer staples stocks.
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* Standard Chartered supports Sri Lanka’s economic recovery via financing facilities for PPE manufacturers

Dec 02 (CP) Colombo- Standard Chartered Sri Lanka announced today the facilitation of financing for Industrial Clothing Limited (Midas Safety Sri Lanka) as well as Hayleys PLC’s subsidiaries Dipped Products PLC and Haycarb PLC to enhance their manufacturing capacity of essential personal protective equipment (PPE) for the global fight against COVID-19.
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* Sri Lanka government borrows USD 400 mn from ADB to support the Education Sector of the country

Dec 02 (CP) Colombo- The Asian Development Bank (ADB) and the Government of Sri Lanka (GOSL) yesterday signed a US$ 400 million loan agreement to support the country in transforming its secondary education system to align with the demand for highly skilled and agile workers who can compete in the rapidly changing global economy.
[Full Story]

* Validity period to open Special Deposit Accounts in Sri Lanka extended up to April 2021

Dec 02 (CP) Colombo- The Government of Sri Lanka (GOSL) introduced the Special Deposit Accounts (SDAs) on 08 April 2020 to seek assistance for the national effort to overcome the effects of COVID-19 outbreak in the country. Accordingly, as at 07 October 2020, total deposits in SDAs amounted to approximately USD 272 million, the Central Bank said.
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* George Steuart announces voluntary offer to buy HVA Foods shares

Dec 03 (Island) George Steuart announced a voluntary offer to purchase all the shares of HVA Foods PLC from its major shareholder HVA Lanka Export (Pvt) Limited at a share price of Rs. 3.50. The major shareholder company holds 61.1 percent
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* ‘SOEs need reform to mitigate colossal losses’

Dec 03 (DN) It is important that SOEs are managed properly so that they are not a burden to the fiscal and more importantly make a productive contribution to the economy, Dr Roshan Perera opined participating in a panel discussion held at Sri Lanka Economic Summit 2020 yesterday.
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* ‘South Asia’s highest sky bridge’

Dec 02 (Island) Capitol TwinPeaks, the LKR 25 billion flagship mixed-development project by the Sanken group’s Capitol Developers and Sanken Construction, located on the Beira lakefront in Colombo 2, recently began the installation of their 50th level sky bridge.
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* Projects carried out on loans halted Focus on PPP, BOO, BOOT, foreign investments

Dec 02 (DN) The government has decided not to obtain loans for any project implemented in the future, Co-Cabinet Spokesman Mass Media Minister Keheliya Rambukwella said.
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