The Central Bank of Sri Lanka strongly objects to the statement released by Fitch Ratings on 21 November 2019 titled “Sri Lanka Election Result Increases Policy Uncertainty”, as it depicts the complete opposite of the realised positive market response to the outcome of the Presidential elections, followed by the assumption of duties by His Excellency…
Sri Lanka’s presidential election significantly increases policy uncertainty and could prompt loosening that exacerbates fiscal weaknesses and a rollback of reforms, Fitch Ratings says. However, whether these risks materialise remains to be seen as a clear policy direction may only start to emerge after parliamentary elections. Gotabaya Rajapaksa of the Sri Lanka Podujana Peramuna (SLPP)…
The Disrupt Asia Conference and Technology Innovation Festival is Sri Lanka’s one-of-a-kind conference organized by the Information Communication Technology Agency of Sri Lanka. The event, held for the 4th consecutive year, is aimed at showcasing and promoting Tech startups and Small and Medium Sized Entrepreneurs (SMEs). Disrupt Asia 2019, held at Nelum Pokuna Mahinda Rajapaksa…
Amãna Bank has showcased resilience by recording a 9 month Profit After Tax of Rs 431.0 million in 2019, in line with Rs 430.0 million that was achieved during a relatively favorable economic environment in the corresponding period of 2018. Profit Before Tax for the 9 months ending 30 September 2019 stood at Rs 598.6…
Sri Lanka Chamber of the Pharmaceutical Industry (SLCPI) in a congratulatory note to newly elected President Gotabaya Rajapaksa, said it was looking forwards to working closely with the new administration in achieving the healthcare goals of Sri Lanka. “We confirm our readiness to work together with your newly formed Government in charting the course in…
Founder of Dilmah – Merrill J. Fernando – accepted the prestigious Australian consumer award for Product of the Year for Dilmah’s Natural Infusions this November. Product of the Year accepts entries every year from products around the world that demonstrate innovation and were launched within the previous year, survey of 10,000 people by Nielsen. The Product of…
(Reuters) – Sri Lankan shares ended marginally lower on Wednesday from their highest level in more than a year hit in the previous session, as investors booked profits after a post-election rally, while the rupee rose to a nearly three-month peak. ** Former wartime defence chief Gotabaya Rajapaksa on Saturday won presidential election and assumed…
Sri Lankan Treasury Bill yields fell across the board at Wednesday’s auction with the biggest drop in the 12-month yield which was down by 29 basis point to 8.22%. The debt office of the Central bank decided to accept Rs.16 billion from the auction of 12-month yield. The three-month yield was down by nine basis…
As TV Derana celebrated its 14th anniversary recently, marking consecutive years at the forefront of the media industry in Sri Lanka, it was strongly supported by trusted long-time digital partner – Fortunaglobal, which has developed web portals and mobile applications for Derana and Ada Derana to help achieve its successful digital revolution. Today, Adaderana.lk is…
Global sovereigns enter 2020 with the world economy slowing and policymakers debating what to do about it, says Fitch Ratings. Most countries are exposed to the trade dispute between China and the US, making it more difficult to calibrate domestic policy settings given the international uncertainties. Fitch expects the widespread monetary easing in 2H19 to…
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