With its strong ethos of nurturing and fostering micro and SMEs in the country to optimize their contribution towards the nation’s macro growth, Citizens Development Business Finance PLC (CDB) raised USD 60 Mn in FY 2018/2019 to uplift and develop this vital engine of growth in the country’s economy. Having already gained a first loan…
Sri Lanka’s Central Bank statistics outlines that tourist arrivals recorded a growth of 3.5% in December 2018, resulting in a total of 2.3 million arrivals during 2018, compared to 2.1 million arrivals in 2017. Further tourist arrivals from all major regions, except East Asia and the Middle East, increased in 2018. Meanwhile, India remained…
Reuters – Sri Lanka’s share index fell on Friday, hovering near a 5-1/2-year low and recording its sixth straight weekly drop, as investors sold risk assets while they awaited the impact of 2019 budget proposals, market sources said. ** Parliament late on Tuesday passed the second reading of the 2019 budget that raises spending while…
The 6th World Women Leadership Congress (WWLC) bestowed HNB’s Chief Financial Officer, Anusha Gallage with the prestigious ‘Women’s Achievers Award’ in recognition of her role in the introduction of outstanding governance practices and in driving HNB’s social responsibility agenda. Held at the Taj Lands End in Mumbai, India, the event brought together influential women professionals…
“Corporate Governance Provisions for the separation of the Chairman and the Chief Executive Officer roles in Listed Companies, were to be introduced only after stakeholder consultation” said Ranel Wijesinha Chairman, Securities and Exchange Commission (SEC). A decision was taken at the end of the third quarter of 2018, to subject this issue for consultation when…
The World Bank Board of Directors today approved a $70 million credit to improve the quality of life of around one million people living in Northern, North Central, Eastern and Uva Provinces in Sri Lanka. The new local development project will put local communities at the center of planning and delivery of essential services such…
Reuters – Sri Lankan shares recovered from a 5-1/2-year low on Thursday on bargain hunting after four straight sessions of losses, but concerns over economic and political stability kept the gains in check. ** Parliament late on Tuesday passed the second reading of the 2019 budget that raises spending while setting an ambitious goal to…
The American Chamber of Commerce in Sri Lanka held a closed-door roundtable discussion recently with Thomas L. Vajda, Acting Principal Deputy Assistant Secretary, Bureau of South and Central Asian Affairs, U.S. Department of State. The meeting was also attended by Her Excellency, U.S. Ambassador for Sri Lanka and Maldives, Alaina B. Teplitz along with other…
Fitch Ratings has assigned a final rating of ‘B’ to the following bonds issued by Sri Lanka on 7 March 2019: – USD1 billion 6.85% bond due 2024 – USD1.4 billion 7.85% bond due 2029 This replaces the expected rating of ‘B (EXP)’ that Fitch assigned on 6 March 2019. KEY RATING DRIVERS The ratings…
His Excellency, President Maithripala Sirisena and Hon. Prime Minister Ranil Wickremesinghe graced the occasion of the 20th Anniversary celebrations of the Chamber of Young Lankan Entrepreneurs (COYLE) held on 10th March at the Shangri-La Hotel, Colombo. Also present at the gala function were several Ministers together with local and foreign dignitaries. The traditional Kiribath was…
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