Bank of Ceylon is planning to privately place 12 billion rupees of, unlisted, unsecured, subordinated and redeemable debentures. The Board of Directors of BOC, at their meeting held on 22 May 2019, had approved the sale of 120 million 5 and 8 year bonds at 100 rupees each, the bank said in a stock exchange…
Sri Lanka’s Colombo Stock Exchange (CSE) today (15) reported its highest daily turnover for the year by crossing Rs.9 Billion mark due to a block trade in LOLC Finance PLC. Colombo’s All Share Price index (ASPI) closed 17.42 points up at 5,587.36. The S&P SL20 index of more liquid stocks closed 0.68 percent or 17.79…
Fitch Ratings Lanka has downgraded Bimputh Finance PLC’s National Long-Term Rating to ‘BB-(lka)’ from ‘BB(lka). The Outlook is Stable. “The downgrade stems from a sharp deterioration in Bimputh’s capital position, which we believe is no longer commensurate with its high-risk appetite. This is due to the significant decline in asset quality and sustained fall in…
The European Union (EU) and Sri Lanka held on 15 July an informal counterterrorism dialogue, chaired on the EU side by EU Counterterrorism Coordinator Gilles De Kerchove, accompanied by EEAS Head of Division for Counterterrorism John Gatt-Rutter, and on the Sri Lankan side by Acting Secretary of Foreign Affairs, Ahmed A. Jawad. Mr de Kerchove…
Sri Lanka’s Prime Minister Ranil Wickremesinghe yesterday (14) stated that prime lending rates will fall to 10% by end July 2019. “Prime lending rate will come down from 12% to 10% by the end of this month and other types of lending rates will not exceed 12%. I have instructed banks to reduce the rate…
The Hindu:The Sri Lanka Ports Authority (SLPA) is keen on enhancing connectivity with Indian ports using ferry services to facilitate easier trade and tourism, its chairman Kavan Ratnayaka said. “If the two countries can set up a ferry service connecting Kankesanthurai port (KKS) in Jaffna with Karaikal near Puducherry, and similarly between Colombo and Tuticorin…
Ambassador of Sri Lanka to the United States, E. Rodney M. Perera, presented his credentials to the President of the United States of America, Donald J. Trump, at the Oval Office of the White House on 08 July 2019. Ambassador Perera conveyed to President Trump the greetings and best wishes of the President, the Government…
Colombo’s first ever open street concept day saw residents reclaiming their streets from Green Path to Independence Avenue on foot, bicycle, skateboard and rollerblades. Jointly organized by Colombo Municipal Council (CMC) and The Embassy of the Kingdom of the Netherlands, CarFreeCMB was initiated to offer people a chance to experience everyday Colombo through a different…
China Petroleum and Chemical Corp, known as Sinopec Corp, said on Monday it has set up a fuel oil company in Sri Lanka as it looks to supply fuel to ships along a major maritime route, the Reuters news agency reported. The new unit, called Fuel Oil Sri Lanka Co Ltd, has been registered in…
Commercial banks increased the annualized interest rate on credit cards up to 32%. This subject was raised by Ada Derana during the monetary policy review press conference of CBSL which was held yesterday (11). Responding to the question, the Governor of the Central Bank Dr. Indrajit Coomaraswamy expressed the following; “You have to separate unsecured products like…
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