Biz Briefs

Upper Kotmale power plant opens

The country's last major hydro power plant, Upper Kotmale with a capacity of 150 MW was opened last week.

Import tax on dates removed

Import tax on 500 MT of dates removed for Ramazan.

ComBank AA+/P1 ratings reaffirmed

RAM Ratings has reaffirmed Commercial Bank of Ceylon Plc's (ComBank) long and short-term financial institution ratings at AA+ and P1, the long-term rating has a stable outlook. The ratings are premised on the group's strong market position as Sri Lanka's largest privately owned licensed Commercial Bank (LCB) and the third largest overall LCB.

The ratings also reflect ComBank's strong franchise and healthy financial performance, funding and liquidity as well as good capitalisation levels.

Ford recalls vehicles

Ford is recalling more than 800,000 of its 2013 Escape compact SUVs because of a problem affecting the brake pedal.

Chamber of Commerce AGM

The Ceylon Chamber of Commerce will hold its 173rd Annual General Meeting on Tuesday, July 24 at the Oak Room, Cinnamon Grand, Colombo.

The chief guest will be British High Commissioner John Rankin.

Hayleys wins plantation awards

Kelani Valley and Talawakelle won 12 of the 34 awards presented to Regional Plantation Companies.

These plantation companies of the Hayleys Group dominated the Regional Plantation Company (RPC) sector at the first National Plantation Awards winning a total of 12 awards including the top awards in four of the 12 award categories.

The four first place awards were presented by President Mahinda Rajapaksa at 'Temple Trees' last week.Kelani Valley Plantations PLC (KVPL) accounted for three, and Talawakelle Tea Estates PLC (TTEL) took the fourth.