SYDNEY/LONDON (Reuters) – Nations in Asia imposed new restrictions on Monday, while an abrupt British quarantine on travellers from Spain threw Europe’s summer reopening into disarray, as the world confronted the prospect of a second wave of COVID-19 infections. In the United States, still dealing with its first wave as infection rates have climbed since June,…
Largest ever BASEL III, Tier 2 compliant, subordinated debenture in Sri Lanka signifies investor confidence in the State Bank People’s Bank’s BASEL III, Tier 2 compliant, Unlisted, Rated, Unsecured, Subordinated, Redeemable Debenture issue was oversubscribed receiving in excess of Rs. 20 billion worth of bids during the early hours of the opening day itself in…
The Central Bank of Sri Lanka yesterday (27) stated that further discussions are ongoing to secure an additional USD 1 billion, under a Special Bilateral Swap Agreement with the Reserve Bank of India. This is after CBSL entering into a $ 400 million bilateral currency SWAP agreement with the and the Reserve Bank of India…
Commercial Bank Credit Card holders can now conveniently and instantly settle their Credit Card outstanding via their mobile QR payment App by scanning a QR code appearing on the Bank’s website. This is the first time any Sri Lankan Bank has enabled QR code payments to settle Credit Card dues. In order to make the…
Economic pitfalls risk cooling Egypt’s hot money inflows CAIRO/LONDON/DUBAI (Reuters) – The threat of conflict in Libya, water security worries and a flatlining tourist sector risk upending a nascent rally in Egyptian bonds, bankers and economists say. The North African country has attracted a wave of foreign investor interest in the past three months, emboldened…
Lanka IOC PLC has recorded a loss of Rs. 795.45 million in the June 2020 quarter amid Coronavirus lockdowns, interim accounts showed. Whilst, comparing to the previous quarter, the company’s revenue has sharply dropped to Rs. 10.68 billion from Rs.18.43 billion. During the June quarter, there was a significant drop in fuel demand, due to…
The total outstanding central government debt has increased from Rs 13,031.5 billion to Rs 14,024.7 billion during the first four months of 2020, the latest weekly report by the Central Bank of Sri Lanka (CBSL) outlines. Accordingly, the Government’s debt has increased by Rs.993.2 billion within the first four months of 2020. Meanwhile, the total…
Lankem Ceylon PLC in a stock exchange filing on Friday (24) announced that it disposed an equity stake of 23.12% (i.e 2,080,518 ordinary shares) in subsidiary company Sigiriya Village Hotels PLC on the trading floor of the Colombo Stock Exchange (CSE) at a price of Rs.32/- per share. The buyer was Union Investments (Private) Limited, a…
Fitch Ratings plans to withdraw the ratings of Kotagala Plantations PLC for commercial reasons on or about 21 August 2020, which is approximately 30 days from the date of this commentary. Fitch currently rates Kotagala Plantations as follows: – National Long-Term Rating at ‘RD(lka)’ – Senior secured rating at ‘C(lka)’ Fitch reserves the right in…
The Reserve Bank of India has signed necessary documents for extending a US$ 400 million currency swap facility to the Central Bank of Sri Lanka. This currency swap arrangement will remain available till November 2022, the High Commission of India in Colombo said today (25). The High Commission has conveyed this information to senior officials…
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