Based on the latest rating review carried out in June 2020, Fitch Ratings Sri Lanka has revised the National Long Term Rating of Amãna Bank to BB+(lka) from BB(lka) with a Stable Outlook. Fitch Ratings has taken the rating review following the recalibration of its Sri Lankan National Rating scale to reflect changes in the…
BBC – The UK’s economy shrank by 20.4% in April – the largest monthly contraction on record – as the country spent its first full month in lockdown. The Office for National Statistics (ONS) said the “historic” fall affected virtually all areas of activity. The contraction is three times greater than the decline seen during the…
Fitch Ratings has revised Serendib Finance Limited’s National Long-Term Rating to ‘AA-(lka)’, from ‘A+(lka)’, with a Negative Outlook, and that of Richard Pieris Finance Limited (RPF) to ‘A-(lka)’, from ‘BBB+(lka)’, with a Stable Outlook. Fitch has also affirmed Dialog Finance PLC’s (DF) National Long-Term Rating at ‘AA(lka)’ with a Stable Outlook. KEY RATING DRIVERS Serendib…
The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator, is all set to establish the externality cost – i.e. social and environmental cost, that Sri Lanka incurred due to power generation from thermal power plants which discovered through, the study named “Estimation of External Cost of Thermal Power Generation in Sri Lanka” and…
Ministry of Foreign Relations states that the comprehensive measures taken by the ministry, in close coordination with the key Government Economic Agencies and the private sector to address and mitigate the impact of COVID-19 particularly on Sri Lankan exports, has helped in sustaining and regaining lost markets for traditional Sri Lankan exports while enabling new…
Piramal Glass Ceylon PLC (PGC) closed the year FY20 with a total turnover of Rs. 7,531 million as against Rs. 7,398 million in the previous year. Profit After Tax rose to Rs.389 million as compared to Rs. 346 million of the previous year, reflecting a growth of 12.4%. In line with consistent policy of 50%…
The Asian Development Bank (ADB) said on Wednesday (10) that it has approved a $ 3 million (over Rs. 500 million) grant from its Asia Pacific Disaster Response Fund (APDRF) to further assist Sri Lanka in its response to the novel coronavirus disease (COVID-19) pandemic. The grant, which is financed by the Government of Japan and…
Verité Research has launched the first phase of publicfinance.lk, an online platform that will eventually be a one-stop-shop for all public finance related information in Sri Lanka. The beta version features initial insights and analyses on four key areas of public finance: debt, expenditure, financing and revenue. PublicFinance.lk aims to enhance the public’s understanding of…
The inquiring committee appointed to investigate alleged irregularities in the ETI Investments met President Gotabaya Rajapaksa at the Presidential Secretariat today(June 11). The Committee informed the President that the ETI Investments had not followed the proper procedures in their conduct from its inception. It had invested its assets in other institutes and at the same…
President Gotabaya Rajapaksa says the Government is ready to give its fullest support to the export sector to realize its full potential through correctly identifying and rectifying prevailing grievances and obstacles faced by it. The challenge before the exporters is to show results by expanding the export sector which is at present limited to a…
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