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…
The development of the monetary sector of a country means the development of that country. Similarly, we always stress that the private sector should lead the country’s economy. As the largest private commercial bank in the country, we have a great responsibility towards this, said Chairman of the Commercial Bank, Dharma Dheerasinghe during an interview…
State Minister of National Policies and Economic Affairs Niroshan Perera yesterday (09) left for China for an official visit accepting an invitation from the Chinese Government. During his visit several diplomatic discussions will be held with the intention of strengthening the bilateral relationships in between two states. Minister Perera was accompanied by a delegation included…
The Central Bank of Sri Lanka (CBSL) decided to reject the bids received for the Rs. 20,000 Treasury Bill auctions held today (09 March). Market sources had earlier stated that under a situation where the interest rate of the 364 day Treasury Bills held last week had gone up to 09 per cent, the interest…
In a release to the CSE on 8th March 2016, Seylan Bank stated that the Bank is not engaged in merger talks with National Development Bank PLC or any other entity at present. Seylan Bank has, over the last 5 years delivered a consistent and impressive performance ending with a remarkable 2015 and accordingly, the…
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