BIZ Confidence Trending Down

Corporates are visibly perturbed by the uncertainty clouding the macro landscape Sri Lanka’s long history of protests was upheld when railway unions decided to strike in mid-August, much to the displeasure of commuters. According to reports attributed to Sri Lanka Railways’ Additional General Manager (Operations), the Railways Department incurred a loss in excess of Rs….

(0)Comments | September 6, 2018 3:09 pm

Pulling back the curtain on the privatization of Sri Lanka’s plantation sector

~ Dr. Romesh Bandaranaike shares his unique perspective of Sri Lanka’s plantations With the fate of Sri Lanka’s plantation industry continuing to remain as a hot-button issue of debate in the media, numerous views have been aired on the rationale behind the privatization of state plantations in 1992. In order to clarify the facts regarding…

(0)Comments | August 30, 2018 1:18 pm

Moody’s: Sri Lanka’s credit profile balances progress on reforms against vulnerability to tightening financial conditions

Moody’s Investors Service says that the credit profile of the Government of Sri Lanka (B1 negative) is supported by the authorities’ progress in implementing reforms, which entail fiscal consolidation and a build-up of foreign exchange reserves. Sri Lanka also benefits from moderate per capita income levels and stronger institutions than those of many similarly rated…

(0)Comments | August 22, 2018 9:49 am

Fitch Ratings: Profiles of Sri Lankan Banks Stable Despite Operating Environment Headwinds

Fitch Ratings maintains a negative banking-sector outlook for Sri Lanka in 2018 as operating conditions should remain challenging, which could put mild pressure on performance during the rest of 2018 and possibly 2019. Nevertheless, the performance of Sri Lankan banks under Fitch’s coverage remained fairly stable through 2017 and 1Q18, and Fitch expects their credit…

(0)Comments | August 16, 2018 2:40 pm

CSE’s Depository arm CDS capitalizing on technology to diversify business

Central Depository Systems (Pvt) Ltd (CDS), a fully owned subsidiary of the Colombo Stock Exchange (CSE) is announcing a number of new offerings focused on raising-the-bar in the services offered to its stakeholders. In this in-depth interview, Mr. Nalin Fonseka, Head of CDS speaks on the thinking behind these new offerings and how they will…

(0)Comments | August 13, 2018 11:18 am

Improved infrastructure plays major role in real estate values – JLL Report

With the recent announcement that the much-anticipated Colombo Light Rail Transit (LRT) project is all set to proceed with Phase 1 following the green light from government ministries, there has been widespread speculation on its effect on the price of property within close proximity to the line. Taking into consideration various factors and an accumulation…

(0)Comments | August 6, 2018 12:04 pm

Dark Clouds Loom over Economy

The corporate community is less than impressed by prospects for the national economy The number of tourist arrivals to Sri Lanka reached almost 1.2 million in the first half of 2018, which corresponds to a healthy growth of 15.3 percent year on year. The largest source markets for travellers to Sri Lanka were India, China…

(0)Comments | August 6, 2018 11:32 am

Biz Confidence at a Standstill

Corporates are adopting a go it alone approach amid a challenging policy milieu Sri Lanka’s listed entities recorded robust earnings growth in the first quarter of 2018 with the banks, and finance and insurance companies leading the way – this despite relatively weak consumer demand and lacklustre corporate sentiment. It has also been reported that…

(0)Comments | August 6, 2018 5:22 am

Moody’s affirms Sri Lanka’s ratings at B1; maintains negative outlook

Moody’s Investors Service (“Moody’s”) has affirmed the Government of Sri Lanka’s foreign currency issuer and senior unsecured ratings at B1 and maintained the negative outlook. The decision to affirm the rating at B1 reflects Sri Lanka’s progress in implementing the planned reform program, which entails fiscal consolidation and a build-up foreign exchange reserves buffers, ahead…

(0)Comments | July 27, 2018 8:10 pm

Fitch Affirms Lion Brewery at ‘A+(lka)’; Revises Outlook to Stable

Fitch Ratings has affirmed Sri Lanka-based Lion Brewery (Ceylon) PLC’s National Long-Term Rating at ‘A+(lka)’. The Outlook is revised to Stable from Negative. Fitch has also affirmed the National Long-Term Rating on Lion’s outstanding senior unsecured debentures at ‘A+(lka)’. The Outlook was revised to Stable because we expect Lion to be able to maintain leverage…

(0)Comments | July 27, 2018 7:11 pm