Biz Briefs

‘FACETS’ from Aug. 29 to Sept. 1

FACETS Sri Lanka 2013, the international gem and jewellery exhibition that showcases hundreds of local and foreign exhibitors, will be held from August 29 to September 1 at the Sirimavo Bandaranaike Memorial Exhibition Centre.

This year’s exhibition will comprise over 150 booths displaying a variety of precious and semiprecious stones.

Organised by the Sri Lanka Gem and Jewellery Association (SLGJA), FACETS Sri Lanka enables all gem and jewellery traders to display market collections and also helps create awareness about the importance of the gem and jewellery industry in Sri Lanka.

NSB assigned 'BB-' with Stable Outlook

Fitch Ratings has assigned the NSB, long-term foreign and local-currency issuer defaulter ratings of 'BB-' with Stable Outlook and a support rating and support rating floor of ‘3’ and ‘BB-’.

“Standard and Poor’s Ratings Services assigned its ‘B+’ long term and ‘B’ short-term counter party credit rating to our bank and also affirmed the outlook on the long term rating as stable,” a spokesman for the bank said.

Fitch Ratings Lanka has also affirmed long-term credit rating of AAA for the 11th consecutive year.

Expolanka, Ceylon Paper Sacks partner CASL

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently recognised Expolanka Holdings PLC and Ceylon Paper Sacks Ltd, as strategic level training partners.

At a ceremony recently, CA Sri Lanka President Sujeewa Rajapakse awarded the strategic level training partner certificate to Expolanka, Head of Group Tax, Hisham Mukthar and Head of Group Finance, Thamesh Fernando.

Rajapakse also awarded the training partner certificate to Ceylon Paper Sacks, Director Finance, K. Samarasinghe and Head of Internal Audit (Edna Group), Lakmal Gunaratne.

New chocolate outlet in Colombo

The chocolate franchise from India, The Chocolate Room, with over 90 outlets in its chain, launched its first outlet in Colombo recently.

The menu includes over a 150 products ranging from hot chocolate, frozen chocolate frappes, choctails, choc shakes, chocolate pizzas, chocolate fondues and chocolate syringes made from chocolates imported from Belgium.

"With years of experience in the industry, The Chocolate Room promises to deliver a world class product range with star class service," a spokesman for the outlet said.

Seylan Bank promotion in South

A promotional campaign was conducted at Seylan Bank branches in the Southern region, to create awareness about Seylan Tikiri savings accounts, Seylan Sure, and leasing and pawning facilities. Seylan bank branches at Tissamaharama, Hambantota, Ambalantota and Beliatta took part in the promotional campaign.

CDB goes for new software
 

Citizens Development Business Finance PLC (CDB) implemented a Core Banking Solution (CBS) with Polaris Software and Millennium IT. It is a comprehensive core-banking product with multi-currency, multi-branch and multi-banking capabilities to transform their financial technology platform. "This software will enable the CDB to increase efficiency, security and transparency of its day-to-day operations. Intellect software will also facilitate smooth integration of different initiatives and provide a platform to ensure risk control through its various processes," a spokesman for the bank said.