Reuters – Moody’s on Monday downgraded the long-term ratings of top American lenders such as JPMorgan Chase, opens new tab, Bank of America, opens new tab and Wells Fargo, opens new tab, after pushing the U.S. out of top triple-A rating club over its burgeoning $36 trillion debt. It also downgraded the long-term deposit ratings of…
The Ceylon Chamber of Commerce recently hosted an engaging interactive session with Sri Lanka’s newly appointed Heads of Mission to key global destinations, offering the local business community a valuable opportunity to connect directly with the country’s outgoing ambassadors and high commissioners. The event hosted Ambassadors designated to Cuba, India, Japan, Pakistan, the United Arab…
Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider and a member of the Dialog Axiata Group – the country’s largest Foreign Direct Investor (FDI) operating under the guidance of the Board of Investment of Sri Lanka (BOI) – announced a USD 100 million investment to further strengthen Sri Lanka’s digital infrastructure. With cumulative investments now…
Hambantota International Port (HIP) marked a significant milestone in its cruise operations, welcoming the Sphinx class AIDAstella, the first vessel from AIDA Cruises to call at the port. The luxury liner, which called at the port during the vesak weekend, is the seventh in a series of Sphinx class ships owned by the Cruise Line. The AIDAstella,…
Purchasing Managers’ Indices indicate the seasonal contraction in Manufacturing activities and an expansion in Services activities in April 2025. Following the seasonal pattern, Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) declined to 40.1 in April 2025. The key sub-indices of Production, New Orders, Stock of Purchases and Employment contracted during the month, resulting in an overall decline…
Sets a strong foundation for robust growth Maintains strong capital buffers of over 800 bps against the regulatory requirement Asset quality continues to improve further with Net Stage 3 ratio at 1.82% Integrates the fully owned investment banking business under the group HNB continued its growth trajectory in Q1 2025, recording a YoY growth of…
Moody’s Ratings (Moody’s) has downgraded the Government of United States of America’s (US) long-term issuer and senior unsecured ratings to Aa1 from Aaa and changed the outlook to stable from negative. This one-notch downgrade on our 21-notch rating scale reflects the increase over more than a decade in government debt and interest payment ratios to…
President Anura Kumara Disanayake held a meeting Friday (May 16) at the Presidential Secretariat with officials of the Ministry of Digital Economy and heads of relevant institutions to discuss the progress of Sri Lanka’s digital economic initiatives. Special attention was focused on the progress of key projects formulated under the roadmap for digital economic development,…
Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), announced today senior leadership changes at the Fund, including the planned retirement of a long serving department head and a leadership rotation across two departments. Dominique Desruelle, Director of the Institute for Capacity Development (ICD), will retire from the IMF in October. He will be…
Deepal de Silva Appointed COO Sampath Bank has appointed Sanjaya Dias Pujitha Gunawardana as Managing Director-Designate, effective 1 July 2025. He will officially take over as Managing Director on 25 September, following the retirement of current MD Ayodhya Iddawela Perera, who goes on leave starting July. Gunawardana, currently Chief Strategy Officer, has been with Sampath…
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