Moody’s Investors Service (“Moody’s”) has Monday (28) downgraded the Government of Sri Lanka’s long-term foreign currency issuer and senior unsecured ratings to Caa1 from B2 and changed the outlook to stable. This concludes the review for downgrade initiated on 17 April 2020. The decision to downgrade Sri Lanka’s rating to Caa1 reflects Moody’s assessment that…
The Colombo stock market’s positive momentum continued on Monday (28) infusing fresh confidence to investors. The main index of the Colombo Stock Exchange, the All Share Price Index (ASPI) crossed the 6,000 point mark moving up 169.16 points today. The ASPI went up by 2.89% or 169.16 points to close at 6,028.20. Market turnover was recorded…
NEW DELHI: India is working on a plan to offer $50 million Line of Credit (LoC) to Sri Lanka in the defence sector –– the first such gesture towards the Southern neighbour as the two sides decided to expand defence and security partnership at Saturday’s summit to stabilise the Indian Ocean Region and the Bay…
The Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC) announces the launch of Real Estate Investment Trusts (REITs) which now gives average investors an opportunity to reap the benefits of real estate investment and the advantages associated with investing in publicly traded securities on the CSE. While investing in…
The Ceylon Chamber of Commerce will be organizing the 20th Sri Lanka Economic Summit (SLES) on the 1st and 2nd of December 2020 at the Shangri-La Hotel, Colombo. This will be the 20th consecutive year the Chamber is organizing the country’s foremost economic event. The theme of the Summit is ‘Roadmap for Take-Off: Driving a…
Pelwatte Dairy Industries, Sri Lanka’s leading local dairy producer, is on a renewed mission to meet the domestic milk demand and uplift the socio-economic status of local dairy farmers. This comes in support of President Gotabaya Rajapaksa’s recent pledge to empower the local dairy industry and increase the domestic liquid milk production in the next…
Sampath Bank PLC announced the elevation of Rushanka Silva as Deputy Chairman (Non-Independent, Non-Executive Director) and Deshal De Mel as Senior Independent Director with immediate effect. The Bank also announced the appointment of Keshini Jayawardena as Non-Executive, Independent Director with effect from 01 October 2020. The Bank continues to serve as a champion of gender diversity with leading women from different sectors accounting for around 30% of its Board for more…
The Beijing Swift – By Prof. Samitha Hettige © A Belt and Road International Art Project Exhibition concluded on the 25th of September. The project was initiated in 2015 to promote networking among the global Belt and Road artists. Sri Lanka has been a partner of the Belt and Road long before the United States…
State Minister for Finance, Capital Market and State Enterprise Reforms Ajith Nivard Cabraal recently stated that Lankan rupee will appreciate once the inflow begins from the SWAP deals. The State Minister was responding to a question raised by SJB MP Dr. Harsha de Silva in parliament, on SWAP arrangements. I would like to know as to who…
JK Land (Private) Limited (JK Land) a fully owned subsidiary of JKH, has acquired a further 26.7% equity stake in Vauxhall Land Development ( Private) Limited (VLDL), and existing subsidiary of JK Land, which owns a 9.38- acre plot of prime land on Vauxhall, street, Colombo, from Finlays Colombo Limited (FCL) for a consideration of…
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