The government of Sri Lanka plans to obtain financial assistance from world lenders to strengthen the state institutions dealing with state fiscal management.The World Bank and the European Union have agreed to provide a loan of US$ 60 million and a grant of US$ 10 million respectively for capacity building and enhancing efficiency of state…
Prime Minister Ranil Wickremesinghe this week submitting his final Cabinet Paper as the Minister in charge of the Central Bank, introduced a concept paper on the amendments needed to the Monetary Law Act in keeping with the recommendations of the Presidential Commission on the Bond issue and the Extended Fund Facility (EFF) of the IMF….
Fitch Ratings-Singapore/Colombo-04 April 2018: Fitch Ratings-Singapore/Colombo- 4 April 2018: Fitch Ratings has affirmed Sri Lanka-based telecom company Dialog Axiata PLC’s National Long-Term Rating at ‘AAA(lka)’. The Outlook is Stable. KEY RATING DRIVERS Market-Leading Position: Dialog’s standalone credit profile of ‘AAA(lka)’ is underpinned by its market leadership in the growing mobile and pay-TV industry segments. We…
Reuters – Sri Lankan shares fell on Wednesday to their lowest in one week as political uncertainty hurt sentiment ahead of a no-confidence vote against Prime Minister Ranil Wickremesinghe, brokers said. The prime minister faces the vote at around 1600 GMT that could go down to the wire and lead to political instability in the…
A high-level delegation of European Union Parliamentarians arrives in Colombo today to evaluate Sri Lanka’s membership to the GSP Plus trading programme. A spokesperson for the EU Embassy in Colombo said the MPs would meet with representatives from government, civil society, trade unions, and international organizations to discuss the initial results of the preferential trade…
Considering the favourable developments in inflation and inflation outlook as well as lower than expected real GDP growth that further widened the prevailing gap between actual and potential GDP growth, the Monetary Board, at its meeting held on 03 April 2018, decided to reduce the Standing Lending Facility Rate (SLFR), which is the upper bound…
Reuters – Sri Lankan share index ended firmer on Tuesday, edging up from its nine-week closing low hit last week, as investors picked up illiquid shares of Distilleries Company of Sri Lanka Plc, but political woes over a no-confidence motion against the prime minister weighed on sentiment, brokers said. The Colombo stock index ended 0.13…
– Mahindra to take 35% stake in the JV – Partnership to create a win-win for both companies in the automotive space. Mahindra & Mahindra Ltd., a part of the USD 19 billion Mahindra Group based in India, entered into a joint venture last week with Ideal Motors Ltd., a fully owned subsidiary of…
A new Board of Directors under the Chairmanship of Mr. Ranjit Fernando has been appointed at SriLankan Airlines in order to accelerate the restructuring process and create the enabling environment to proceed with entering into a Public-Private-Partnership with a strategic investor. Other Board members appointed include Mr. Mano Tittewella (Ministry of Finance), Dr. Roshan Perera…
The Colombo Stock Exchange (CSE) and the National Stock Exchange of India Limited (NSE) have signed a memorandum of understanding (MoU) focused on exploring opportunities to work together and co-operate with each other to foster a deeper and more strategic relationship. The MoU was signed at the CSE today by CSE Chairman Mr. Ray Abeywardena…
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