One of the leading licensed commercial banks in the country, Sampath Bank in a disclosure to Colombo Stock Exchange (CSE) said that bank had suspended a proposed US $ 100 million debenture issue to raise Basel III-compliant capital. “Due to the current elevated market volatility in global bond markets, the lead manager to the bond issue…
Fitch Ratings has affirmed the Long-Term Issuer Default Ratings (IDRs) of the following Sri Lanka-based banks: – National Savings Bank (NSB) at ‘B+’; Outlook Stable – Bank of Ceylon (BOC) at ‘B+’; Outlook Stable – DFCC Bank PLC at ‘B+’; Outlook Stable Fitch has also affirmed the National Long-Term Ratings of the following banks: –…
Two Memoranda of Understanding were signed in New York, launching Sri Lanka’s first social impact funds aimed at supporting social entrepreneurs access innovative financing, to help achieve the 2030 Agenda for Sustainable Development. The signings were witnessed by Hon. Tilak Marapana, Minister of Foreign Affairs, Government of Sri Lanka, and Mr. Achim Steiner, UNDP Administrator,…
Sri Lanka’s Auditor General’s remarks on the lately released 2016 Annual Report of country’s largest private sector workers’ Pension Fund Employees Provident Fund (EPF) that is managed by the Central Bank of Sri Lanka, points out that EPF had paid over Rs. 17.5 million as PAYE (‘Pay As You Earn’) for the year under review,…
The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 01 October 2018, decided to maintain policy interest rates at their current levels. Accordingly, the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank will remain at 7.25 per cent and 8.50 per cent, respectively. Statement…
Just in a little over 2 years after Sri Lanka’s oldest Central Bank Governor so far appointed – Dr. Indrajit Coomarswamy resigned from Sri Lanka’s foremost conglomerate John Keells Holding’s PLC (JKH) as independent non- executive director on John Keells board, his sister Dr. Radhika Coomaraswamy had been appointed to JKH board as an independent…
Sri Lanka’s most customer friendly bank, HNB PLC, announced the signing of a new partnership agreement with the Asian Development Bank (ADB) in order to expand lending and provide guarantees of up to US$ 20 million to support development of Sri Lanka’s burgeoning microfinance sector. Arranged under the ADB’s Microfinance Risk Participation and Guarantee Program,…
Asia Pacific’s leading entrepreneur education series, the flagship UNESCO-APEID meet is to be held for the first time in South Asia-and the milestone event is moved for the region by Sri Lanka’s apex entrepreneur and SME business development agency, NEDA. “Entrepreneur development is a major pillar of economic reform vision of the Unity Government. Hosting…
Reuters – Gold prices dipped on Monday, with the dollar holding steady after marking a near three-week high in the previous session in the wake of the US Federal Reserve’s plans last week for multiple interest rate hikes by 2020. Fundamentals Spot gold was down 0.2 per cent at $1,189.22 at 0111 GMT. The metal…
Recently released almost two years delayed annual report of Sri Lanka’s Central Bank managed South Asia’s largest private sector workers’ pension fund – Employees’ Provident Fund’s (EPF’s) 2016 annual report highlight’s that although EPF had invested around Rs. 5 billion in a hotel expecting the listing of shares of the investment on Colombo Stock Exchange…
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