Fitch Ratings: The majority of ratings on Sri Lankan finance subsidiaries are underpinned by the expectation parental support, says Fitch Ratings in a report. This often results in higher subsidiary ratings than that implied by their standalone performance. Fitch’s non-bank financial institution (NBFI) shareholder support framework considers the parent’s ability and propensity to support its…
The Colombo Stock Exchange (CSE) hosted an issuer forum recently at ‘The Epitome’, Kurunegala, titled “ඔබේ ව්යාපාරයට නව ප්රවේශයක්” for business owners in the Wayamba province. The forum provided guidance on exploring effective capital-raising avenues, specifically through listing on the Empower and Diri Savi Boards. These boards cater to SMEs across a wide range of…
Sustainable Fitch has provided its Second-Party Opinion on Commercial Bank of Ceylon PLC’s (CBC) sustainable bond framework. We consider transactions under the sustainable bond framework to be fully aligned with the ICMA Green Bond Principles, Social Bond Principles and the Sustainability Bond Guidelines. Our Second-Party Opinion is that the alignment is ‘Good’. CBC is Sri…
Commencing the “Wigamanika Harasara” President Thanks Workers for Their Crucial Foreign Exchange Contributions during Economic Hardships. President Ranil Wickremesinghe announced plans to ensure returning migrant workers can live with dignity after completing their service abroad. He thanked these workers for their vital contributions of foreign exchange during the recent economic crisis, acknowledging their crucial role…
A new institution named “Enterprise Sri Lanka” has been established to empower micro, small, and medium enterprises. The government’s policy is to always uphold the rights of the people- The President. President Ranil Wickremesinghe stated that it is not feasible to indefinitely maintain the temporarily suspended Parate law. Consequently, a new bill will be introduced…
When a Software Update Grounded the World: Lessons from the CrowdStrike Crisis and the Urgent Need for Cybersecurity Overhaul By Jithendra Antonio In the ever-evolving landscape of cybersecurity, the recent debacle involving CrowdStrike serves as a stark reminder of the fragility of our digital infrastructure. A seemingly innocuous software update spiraled into a global crisis,…
The Commercial Bank of Ceylon has received a globally – recognised Second-Party Opinion (SPO) for the Bank’s Sustainable Bond Framework from Sustainable Fitch, the Fitch Solutions company that provides Environmental, Social and Governance (ESG) related ratings. The SPO is a third-party validation aligned with the International Capital Markets Association (ICMA) Green Bond Principles 2021. Receipt…
SriLankan Airlines would like to inform passengers that its internet booking services have been fully restored as of 08:30 GMT (14:00 local time in Sri Lanka), following a global outage of third-party service providers that affected the airline’s online booking services. We understand that this may have impacted the experience of some of our passengers,…
President Calls for Single Agency to Oversee Post-School Education and Training Centres to Align NVQ Qualifications with International Standards. Highlights Strategic Connectivity and Education Reforms. President Ranil Wickremesinghe has performed an extraordinary effort in restoring stability to the country following the economic crisis- Former Australian Prime Minister Scott Morrison. President Ranil Wickremesinghe emphasized that efforts…
The Government of Japan offers Master’s Degree and PhD opportunities to the executive level public sector officials in Sri Lanka, on grant basis, since 2010 and 2017 respectively, under the Japanese Grant Aid for Human Resources Development Scholarship (JDS) Programme. Accordingly, the First Framework (2010-2013), the Second Framework (2014-2017) and the Third Framework (2018–2021) of…
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