Sri Lanka’s recent lending rate cut will compress banks’ net interest margins (NIMs) and add to their existing profitability challenges, Moody’s Investors Service said. On 24 September, the Central Bank mandated commercial banks to cut lending rates on all Sri Lankan rupee-denominated loans by at least 200 basis points beginning 15 October from rates set…
Fitch Ratings has affirmed Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B’ with a Stable Outlook. The full statement is reproduced below: Fitch Affirms Sri Lanka at ‘B’; Outlook Stable Fitch Ratings has affirmed Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B’ with a Stable Outlook. KEY RATING DRIVERS Sri Lanka’s…
The initial outlay on Sri Lanka’s largest vocational skilling project announced on 28 August has now increased by a huge 60% from its first value. “Due to some important revisions and re-assessments on ground, the project value has been boosted by another US $ 30 Mn to total at US $ 80 Mn. This is…
Reuters – ** Sri Lankan shares ended down on Friday, snapping two straight gaining sessions to record their second weekly fall, while the rupee was little changed as inward remittances offset dollar demand from banks. ** The index rose for the past two sessions after the central bank on Tuesday said that the Monetary Board…
Sri Lanka Tourism Development Authority along with the other three key institutions of Sri Lanka Tourism under the guidance of the Ministry of Tourism Development, Wildlife & Christian Religious Affairs organized a two-day special programme in Colombo and several other events to celebrate this year’s World Tourism Day. World Tourism Day 2019 was celebrated…
Sri Lanka unveils ‘Ceylon Spice’ master brand The ‘Ceylon Spice’ master brand was officially launched in Colombo on Wednesday (25), as Sri Lanka’s latest national branding attempt for the spice sector. The brand was officially unveiled by Minister of Development Strategies and International Trade, in collaboration with the Sri Lanka Export Development Board (EDB). Speaking…
The much awaited world class surfing event of the year, ‘’So Sri Lanka Pro 2019’’ started off on a grand scale on the 24th of September, along with a press briefing to acknowledge the local media about the event, and also to inform them about the event schedule. The participants at the head table included…
SriLankan Airlines, the National Carrier of Sri Lanka and a member of the oneworld alliance, continuing to prove the global appeal of its marketing communication endeavors, won an esteemed PATA Gold Award in Astana, Kazakhstan recently. Accordingly, the award winning entry ‘Two Cities, One Spirit’ which was aimed at enticing travelers to experience the inherent…
India has been accused of imposing unrealistic Minimum Import Prices (MIP) on Sri Lankan pepper and arecanuts, resulting in negligible exports. Issuing a media release, the Management Committee of the Spices and Allied Products Producers and Traders’ Association (SAPPTA) in Sri Lanka, said that Sri Lanka exported around 75% of Pepper Exports and almost 100%…
Sri Lankan retailers have organized themselves to harness the collective resources of the retail industry, and promote innovation and growth even further, while providing consumers with the best deals in the country. To do so, the Sri Lanka Retailers’ Association (SLRA) is commencing their flagship event to revitalize retail for 2019, through the Shop…
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