China Merchants Port Holdings Co., Ltd., Fujian Transportation Maritime Silk Road Investment and Management Co. Limited (“Fujian TMSR”) and Fujian Provincial Communication Transportation Group Co., Ltd. (“FJCT”) has signed a share transfer deed to promote the sustainable development of Hambantota Port in Sri Lanka. According to the share transfer deed, Fujian TMSR has agreed to acquire…
Covid-19 has prompted Moody’s Investors Service to put the entire industry on review for downgrade. The credit rating agency has cut the ratings of nine of the 22 automakers it rated over the last three months. Total debt downgraded was about US$130 billion, excluding the debt related to the carmakers’ captive finance businesses. “The pandemic makes…
The International Monetary Fund said Asia’s economy is expected to contract by 1.6% this year — a downgrade from its previous forecast of no growth in April. “Asia cannot be an exception” when the whole world is suffering from the effects of the coronavirus pandemic, said Changyong Rhee, director of the Asia and Pacific department at IMF….
Faris Hadad-Zervos has been appointed as the World Bank’s new Country Director for Maldives, Nepal and Sri Lanka, effective today (July 1). Based in the sub-regional office in Kathmandu, Nepal, he will lead World Bank support to Maldives, Nepal and Sri Lanka, overseeing the current total portfolio of around $5.5 billion. Hadad-Zervos succeeds Idah Z. Pswarayi-Riddihough, who…
Sri Lanka’s automobile import sector had to face numerous challenges in the past few years. Last year the sector faced a major price increase due to the imposition of stiff luxury taxes which resulted in a massive drop in vehicle demand. Further, the sector also experienced a drop in sales following the Easter Sunday attacks…
The International Finance Corporation (IFC) has informed its intention to exit its investment in Cargills Food Company (Pvt) Ltd, by enforcing the ‘put’ option. In a disclosure to the Colombo Stock Exchange, Cargills Ceylon PLC, stated that “pursuant to the agreement entered between International Finance Corporation (IFC), Cargills (Ceylon) PLC and Cargills Food Company (Pvt)…
Have you ever been seeking for an opportunity to emerge as a YouTuber but never got the guidance to be one? AIESEC in University of Sri Jayewardenepura is ready to offer you the perfect chance to learn everything related to YouTubing & Content Creation from local and international experts of the field. AIESEC in University…
Former Central Bank Governor Ajith Nivard Cabraal, on Wednesday, issued a special statement on the Millennium Challenge Corporation (MCC) The full statement as follows: “I have seen some social media posts which attempt to insinuate that the Mahinda Rajapaksa Government was ready to enter into a Compact with the Millennium Challenge Corporation that was detrimental to Sri Lanka….
The Securities and Exchange Commission of Sri Lanka (SEC SL) approved introduction of new Rules and amendments to the existing Listing Rules of the Colombo Stock Exchange (CSE) and granted approval in principle to proceed with certain other important initiatives. Setting and enforcing appropriate Listing Standards are central to a well – functioning securities market….
Headline inflation as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100)1 declined to 3.9% in June 2020 from 4.0% in May 2020. This was solely driven by the statistical effect of the high base prevailed in June 2019. Food inflation (Y-o-Y) increased to 10.0% in June 2020 from 9.9% in…
Video Story
