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

Price growth of Houses, Apartments on a declining path so far in 2018 – Report

Statistics of housing and apartment prices collected by property firm LankapropertyWeb indicates growth of prices of house prices – 4 Bed room – are at declining path from first quarter 2018 and growth of apartment – 3 Bed Room – is also in same trend from second quarter of 2018, a recent analysis by data statistical firm…

(0)Comments | July 26, 2018 10:35 am

Colombo needs better, managed parking

• Parking fees limits the number of unwanted parking • Gives more opportunity for people to find a parking spot Colombo is in need of better, managed parking as the city continues to grapple with congestion on the streets. According to the Ministry of Transport and Civil Aviation, by 2017 the vehicle population in Sri…

(0)Comments | July 24, 2018 6:18 pm

A further defeat for the Present Government may worsen the prevailing Political Uncertainty – Report

First Capital Research the research arm of the country’s one of the leading investment banks in their latest Mid-Year Economic outlook points out that “A further defeat for the present Government may worsen the prevailing political uncertainty” adding that however, an improvement in the voter base may provide some respite. Report highlights that the political uncertainty…

(0)Comments | July 11, 2018 1:55 pm

Businesspeople project a broadly negative outlook for the national economy

The Sri Lanka Economic Summit 2018 organised by the Ceylon Chamber of Commerce was held last month with a focus on turning around the economy following weak growth, rising global commodity prices and uncertainty surrounding global trade. A statement issued by the chamber notes that the emphasis would be on “shaping a turnaround for the…

(0)Comments | July 9, 2018 10:14 am

Business Sentiment – Confidence Heads Back Down

Biz folk are less than impressed with the turn of events on the national stage The depreciation of the Sri Lankan Rupee has come into greater focus with the currency trading close to the psychological barrier of Rs. 160 to the US Dollar in recent times. A sum of nearly US$ 220 million in foreign…

(0)Comments | July 9, 2018 9:48 am

Sri Lanka’s Economic Sentiment Remains Dull – Survey

Recently released LMD-Nielsen Business Confidence Index (BCI) survey reveals that economic optimism in May this year remained relatively unchanged from the previous month, and analysts also highlight that economic sentient remains dull. Although 7% (up from 5% in the previous month) of corporate executives believe economic conditions will improve over the next 12 months according…

(0)Comments | June 20, 2018 8:03 am

Business Sentiment – Confidence Claws Its Way Up

Businesspeople are taking heart from the absence of majorly negative events The dreaded fuel price increase came into effect at state owned petrol stations across the land in May, bringing them in line with the formula based pricing mechanism adopted by the government to comply with IMF lending criteria in the main. This led to…

(0)Comments | June 8, 2018 8:20 am

Real estate ‘hotspots’ in Sri Lanka’s South-West quadrant

~ The impact of infrastructure – Steven Mayes, Managing Director, JLL Lanka Much has been made in the media lately, about foreign direct investment in infrastructure in Sri Lanka, principally from China, and concerns about Sri Lanka becoming over reliant on such sources for its development. There has been less discussion as to how new…

(0)Comments | May 31, 2018 8:41 pm

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