As a nation focused on development and in the midst of transitioning from a lower middle income country to an upper middle income country it is no surprise that Sri Lanka is facing a rise in demand for electricity. With ambitious goals and recent economic developments, Sri Lanka has been experiencing a 4% annual increase…
LSEG LiveOps, the specialised team within London Stock Exchange Group’s (LSEG) recently established Shared Service Centre (BSL, Sri Lanka) was recently awarded the ISO 20000 Certification in recognition of its IT Service Management Excellence. The LSEG LiveOps team are global experts in providing live operational support for business critical applications used in exchanges around…
Reuters – Sri Lankan shares closed slightly firmer on Friday, snapping four straight sessions of falls, on foreign investor buying in select stocks. Analysts said investors are waiting to see the real impact of the recent floods and landslides caused by the worst torrential rains in 14 years, killing over 200 people and devastating crops….
The Asian Development Bank (ADB) has agreed to provide USD 2 million for disaster relief efforts in Sri Lanka. An agreement in this regard was signed at the Ministry of Finance today (9th June) by Dr. R.H.S. Samarathunga, Secretary, Ministry of Finance and Mass Media and Tadateru Hayashi, Senior Country Economists / Officer-in-Charge of the…
SK Energy and Service Company contributed USD 20,000 to Sri Lanka to assist the victims of recent flood and landslides.
Oil prices stabilized on Friday following steep falls earlier this week, but they were still pressured by evidence of an ongoing fuel glut despite efforts led by OPEC to tighten the market by holding back production. Brent crude LCOc1 was at $47.86 per barrel at 0504 GMT, unchanged from its last close. It still puts…
Reuters – Sri Lankan shares ended down for a fourth consecutive session on Wednesday, and hit their lowest close in more than a week, due to profit-booking in large-cap shares such as Ceylon Tobacco Company Plc, but foreign inflows helped curb losses. Analysts said investors are waiting to see the real impact of the floods…
Sri Lankan banks are likely to come under increased capital pressure from Basel III-related requirements that take full effect at the start of 2019, Fitch Ratings says. We expect most banks will have to raise capital to meet the higher requirements, particularly if they are pursuing rapid growth. The sector’s capital needs could be exacerbated…
Sri Lanka and Thailand has come to a consensus on a Trade in Goods FTA as the first step before a comprehensive FTA that follows. Thailand has proposed an MOU on Strategic Economic Partnership (SEP) with Sri Lanka as a stepping stone, on June 2 in Bangkok. The latest breakthrough in Sri Lanka –Thai trade…
An agreement to provide a credit line of USD 318 million for the development of the railway sector was signed between the Ministry of Finance of Sri Lanka and the EXIM Bank of India. The Loan Agreement was signed by Dr. R H S. Samaratunga, Secretary, Ministry of Finance and Mass Media and David Rasquinha,…
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