Sri Lanka Telecom PLC has announced the appointment of Lalith Seneviratne, Mohan Weerakoon, A K Seneviratne and Ranjith Rubasinghe to its board of directors with effect from 23rd January 2020. Lalith Seneviratne and Mohan Weerakoon PC will serve in the capacity of Independent Non-Executive Directors while A K Seneviratne and Ranjith Rubasinghe will work in…
The current low inflation environment and muted inflation pressures have created some space for fiscal as well as monetary stimulus to boost dampened economic activity, Governor of the Central Bank of Sri Lanka, Professor W D Lakshman said. “The Low level of inflation contributes to maintain a stable political condition in the country and the…
Defense Secretary Maj. Gen. Kamal Gunarathne said that the government has decided to implement all digital technology services and technology projects under the supervision and management of the ICT Agency. He made this comment Wednesday (22) at the Sri Lanka Information and Communication Technology Agency (ICTA) while addressing the staff said. Speaking further Mr. Kamal…
Commercial Bank of Ceylon PLC is of the view that the decision by Fitch Ratings to revise its outlook from stable to negative is not justified. In a stock exchange filing today (23), the bank noted that Fitch Ratings Lanka Limited has affirmed the National Long Term Rating of the Bank at AA (lka) whilst…
Due to the delay in implementing the electricity power plant projects planned, the Ceylon Electricity Board has to encounter a bitter crisis. Therefore, the Cabinet of ministers decided to take the following decisions with immediate effect considering the proposals submitted by the Minister of Electricity and Power with the objective of securing and safeguarding as…
First Capital Treasuries PLC the Primary Dealer arm and a subsidiary of First Capital Holdings PLC (the Group), has announced that it intends to issue Listed, Rated, Subordinated, Unsecured, Redeemable Debentures with a principal value of LKR 750Mn maturing in five years with the following Interest payment options payable semi-annually; Type A – 12.75% p.a….
Vega Innovations, a subsidiary of CodeGen International (Pvt) Ltd., creates history once again as the Vega EVX, Sri Lanka’s and South Asia’s first fully Electric Supercar is shipped out to Switzerland, to be unveiled at the 90th Geneva International Motor Show, 5-15 March 2020. The vehicle was shipped from the Colombo harbour on Sunday the…
The Norwegian Ambassador to Sri Lanka, HE Trine Jøranli Eskedal, will open Sri Lanka’s first floating solar plant in Kilinochchi on Friday (24). The floating solar plant is a result of the research collaboration since 2017 between the University of Jaffna and the Western Norway University of Applied Sciences (HVL) supported by the Royal Norwegian…
Fitch Ratings stated that it has revised the Outlook to Negative from Stable on the Long-Term Issuer Default Ratings (IDR) and National Long-Term Ratings of several Sri Lanka-based banks and has affirmed their ratings. Accordingly, Bank of Ceylon (BOC), National Savings Bank (NSB) and DFCC Bank PLC (DFCC) had their outlook revised. Fitch has also revised the Outlook…
Sri Lanka’s Confederation of Micro, Small and Medium Industries (COSMI) said that the landmark loan moratorium for SMEs offered by the government in December 2019 is on track to revive SMEs but the stipulated reporting deadline is ‘too tight’. “We praise the government for its determined action last December to revive domestic SMEs by suspending…
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