Fitch Ratings has assigned Siyapatha Finance PLC’s (Siyapatha; A-(lka)/Stable) proposed senior unsecured redeemable debentures of up to LKR2.5bn a National Long-Term expected rating of ‘A-(lka)(EXP)’. A full list of existing ratings is at the end of this rating action commentary. The issue will have two tranches with bullet principal repayments in the third and fifth…
Attention has been focused to establish Bahrain Embassy in Sri Lanka A special discussion between the Crown Prince of Bahrain, Sheik Salman bin khalifa Al khalifa and the Finance Minister, Ravi Karunanayake was held at the Ministry of Finance. This discussion was focused on investment opportunities in relevant to oil, gas and aviation services. Investment…
Invests Rs. 400MN on the fully-fledged sheltered Convertainer manufacturing facility in Colombo Expanding new opportunities to offer distinctive space solutions, Advantis Engineering declared open Sri Lanka’s first fully fledged sheltered manufacturing plant for container conversions yesterday (10th March). Advantis Engineering, formerly known as Logiventures, has invested Rs. 400 million for this production facility located close…
Opening on Sri Lanka’s stunning southern coastline on 1 June 2016, Shangri-La’s Hambantota Resort & Spa will offer unrivalled amenities and experiential activities and set a new standard for hospitality in the “Pearl of the Indian Ocean.” Spanning 145 acres, the 300-room beachfront resort will boast lush tropical gardens, an 18-hole golf course, an artisan…
Standard & Poor’s cut Sri Lanka’s outlook to negative from stable citing worsening external and fiscal indicators, less than two weeks after Fitch Ratings lowered its credit ratings. S&P affirmed the island nation’s B+ long-term and B short-term sovereign ratings, saying robust economic growth prospects are countered by high government debt at 72 percent of…
Reuters – Central Bank Governor Arjuna Mahendran said on Thursday he hoped the rating agencies’ negative view on Sri Lanka’s credit rating would change after negotiations this month over an International Monetary Fund (IMF) loan. S&P on Thursday revised the outlook on its B+ sovereign credit rating to negative, a week after Fitch downgraded its…
South East Asia’s second largest economy has officially called for an FTA with Sri Lanka. Both Sri Lanka and Thailand are also pushing for three-fold increase in bilateral trade by 2020. “Thailand is proposing a Free Trade Agreement with Sri Lanka. If Sri Lanka agrees, this FTA will usher in a new era of mutual…
In commemorating International Women’s Day, and its 2016 theme of “Pledge For Parity”, it is paramount that we bear in mind that an important part of securing any sort of parity for women is their achievement of true financial freedom. As such, expert financial planner NDB Wealth advises all women, in line with International Women’s…
Addressing the Sri Lanka Investment and Business Conclave 2016, Minister for Special Assignments Dr. Sarath Amunugama said there are special things about Sri Lanka. Below is the video of the speech made by Dr. Sarath Amunnugama.
Fitch Ratings has downgraded Ceylon Dollar Bond Fund’s Fund Credit Quality Rating to ‘B+’ from ‘BB-‘ and affirmed the Fund Volatility Rating at ‘V5’. The rating action follows Fitch’s downgrade of Sri Lanka’s Issuer Default Ratings (IDR) to ‘B+’ from ‘BB-‘; and assignment of a Negative Outlook on the IDR. The ratings on several Sri…
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