The Colombo Stock Exchange (CSE) announces the following changes in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2018 mid‐year index rebalance. A revision of the S&P SL 20 methodology in March 2017 established the practice of a semiannual rebalance of the index (previously conducted annually). The rebalance of…
Fitch Ratings-Colombo/Singapore-14 June 2018: New capital-adequacy regulations for Sri Lankan finance companies are likely to improve the resilience of the sector to economic shocks, but will add to capitalisation pressures – particularly for the country’s numerous small-scale finance companies, says Fitch Ratings. Fitch-rated finance companies are unlikely to face immediate rating action, as we believe…
Taprobane Holdings repositioned as Ambeon Capital PLC and Lanka Century Investments as Ambeon Holdings PLC The group is now restructured, repositioned and future ready to re-engineer success across all its businesses In a strategic move to reposition the entity to represent the Group’s business vision and take on the dynamic, technocentric business world of tomorrow,…
The Sri Lanka-Australia-New Zealand Business Council of the Ceylon Chamber of Commerce has convened a Networking session on Tuesday 19th June at Mövenpick Hotel Colombo, with the New Zealand Trade Commissioner and his team to coincide with the Sri Lanka Investment and Business Conclave 2018. Ralph has been with NZTE for 7 years and during…
Reuters – Sri Lankan shares ended lower for a sixth straight session on Wednesday to hit their lowest closing in nearly six months, as foreign investors sold banking shares such as Commercial Bank of Ceylon Plc. The Colombo stock index ended 0.17 percent weaker at 6,337.88, its lowest close since Dec. 22. The index dropped…
Reuters – The Sri Lankan rupee closed slightly lower in thin trade on Wednesday, hovering near an all-time low hit earlier this week, as importer dollar demand surpassed mild selling of the greenback by banks, dealers said. The spot rupee ended at 159.65/80 per dollar on Wednesday, lower than Tuesday’s close of 159.50/70. It hit…
Five Memorandums of Understanding (MoUs) on education, digitization, health and energy were signed on 12th June 2018 between the Sri Lankan Government and the Finish government along with private sectors of the two countries. The MoUs were signed on the sidelines of a visit by Finnish Economic Affairs and Development Deputy Minister Petri Peltonen and a Finnish…
Whilst Sri Lanka’s State Owned Business Enterprises (SOBEs) continue to play a significant role in the country’s economy with its presence in key sectors such as Ports, Energy, Banking, Insurance, Water,…etc, and the total asset base of SOBEs had grown by 13.6 percent in 2017 over 2016. And it accounted for almost 56.8 percent of…
The US State Department projects that Sri Lanka’s external debt will increase by US$3.8 billion in 2019, amidst High government debt, low debt affordability and huge external payment obligations coming due pose strong challenges for Sri Lanka’s economy, a recent report by the Global Finance Magazine highlights. The reports states that the situation has become…
Sri Lanka is sending 20 industrialists from ten manufacturers to this week’s global exposition in Myanmar or the first time as part of the country’s revived efforts to hit $3 Bn in rubber exports. “This is the first time that the Industry Ministry is actively moving towards national export development work” said the Minister of…
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