Fitch Ratings-London/Colombo-29 January 2020: A scheme for Sri Lankan banks to provide special credit support to SMEs this year should not have a material effect on banks’ credit profiles, Fitch Ratings says. We believe that the scheme will prolong the resolution of non-performing loans only until end-2020, and delay capital repayments this year, but banks’…
Forbes – The coronavirus continues to spread within China and throughout other parts of the world. Recent reports claim that about 106 people have died due to the virus and over 4,500 cases have been confirmed. To stem the virus from continuing to infect others, China has quarantined or placed on lockdown several of its…
The value of a currency depends on number of factors that affect the economy of a country such as balance of payment, government debt, foreign exchange reserves, foreign investment, trade deficit, economic growth rate, inflation, macro-economic policies etc. The general belief is that, a strong currency would make imports cheaper and exports uncompetitive while a…
Sri Lankan shares fell for a second straight session on Tuesday (28), as fears over the spreading Chinese virus continued to weigh on the global economy. The All Share Price Index (ASPI) dropped to 0.84% or 49.82 points to close at 5,884.81 points, while the S&P SL20 dropped to 0.90% or 25.70 points to close…
Piramal Glass Ceylon PLC reported its nine month ended results of 31st December 2019 with a turnover of Rs. 5,832 Million & PAT of 330 Million as against Rs. 5,485 Million & Rs. 154 Million in the previous year similar period. The turnover for nine months at Rs. 5,832 Million showed an 6% growth as…
MTD Walkers today (28) announced that the transaction in respect of the sale and purchase of 90.78% of its stake amounting to 152.18 million shares to Business magnate Ravi Wijeratne will not be pursued. In a stock exchange filing, the company stated that they have been informed by MTD Capital Bhd, Malaysia, that the intended…
Considering the recent major Fiscal and Monetary policy changes, First Capital Research believes that the current accommodative monetary policy stance is appropriate and that there is ample space for market lending rates to reduce without further adjustment in policy rates. Already announced tax relief, and proposed moratorium on capital repayments of bank loans for the…
Opportunity2030 study reveals the almost USD10 trillion private-sector investment opportunity in contributing to the UN Sustainable Development Goals (SDGs) in emerging markets At USD7.3 billion, the greatest private-sector investment opportunity in Sri Lanka is investment in achieving and maintaining universal access to electricity (SDG 7) The Standard Chartered SDG Investment Map reveals an almost…
Sri Lanka’s tourism industry is bracing for a hit from the impact of coronavirus with a downturn in arrivals. Officials have begun meeting flights from China, amid spreading global concern about the virus which has spread to a number of countries around the world, including Sri Lanka. Authorities in China have already begun placing restrictions…
Susantha Ratnayake, Chairman of the Board of Investment of Sri Lanka held discussions with a delegation of senior diplomats from Slovenia visiting Sri Lanka. The delegation was led by Mr. Marjan Cencen Ambassador of Slovenia to Sri Lanka based in New Delhi and Mrs. Mateja Vodeb Ghosh, Minister Plenipotentiary. The ambassador had visited Sri Lanka…
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