manusath-derana

Top News

National Savings Bank, People’s Leasing Downgraded To Reflect Heightened Economic Risk

– We have lowered our long-term sovereign credit rating on Sri Lanka by one notch to ‘B’, reflecting reduced prospects of reform under the fractious  political environment, which we expect to be protracted.  The country’s external financing conditions has also deteriorated as a weak rupee and high yields constrain the government’s access to international capital markets….

(0)Comments | December 5, 2018 11:59 am

Fitch Downgrades Sri Lanka Telecom to ‘B’ on Sovereign Downgrade

Fitch Ratings – Singapore,Colombo – 05 December 2018: Fitch Ratings has downgraded Sri Lanka Telecom PLC’s (SLT) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to ‘B’ from ‘B+’. The Outlook is Stable. The agency has affirmed SLT’s National Long-Term Rating at ‘AAA(lka)’ with a Stable Outlook. We have also affirmed the national rating at…

(0)Comments | December 5, 2018 11:28 am

54th SEACEN Governors’ Conference / High-Level Seminar and the 38th Meeting of the SEACEN Board of Governors

The Central Bank of Sri Lanka hosted the 54th SEACEN Governors’ Conference / High-Level Seminar and the 38th Meeting of the SEACEN Board of Governors in Colombo from 29 November to 02 December 2018. These events were attended by Governors and delegates of SEACEN member Central Banks and Monetary Authorities. The Deputy Managing Director of…

(0)Comments | December 5, 2018 11:11 am

Compensation Payments to the Depositors of The Standard Credit and Finance Ltd. under Sri Lanka Deposit Insurance and Liquidity Support Scheme

The license issued to The Standard Credit and Finance Ltd.(TSCFL) to carry on finance business has been cancelled with effect from 25.07.2018 in terms of the provisions of the Finance Business Act No. 42 of 2011. The Central Bank of Sri Lanka has taken steps to pay compensation under the Sri Lanka Deposit Insurance and…

(0)Comments | December 5, 2018 10:45 am

Sri Lankan rupee ends weaker after rating downgrades

Reuters – ** The Sri Lankan rupee closed weaker on Tuesday with banks buying dollars as investors continued to sell rupee-denominated assets on credit rating downgrades by rating agencies and a delayed IMF loan discussion in the wake of a political crisis. ** Credit rating agencies Fitch and Standard & Poor’s downgraded Sri Lanka on…

(0)Comments | December 5, 2018 10:27 am

CBSL Disputes the Rating Agencies’ Latest Rating Decisions

The Central Bank of Sri Lanka (CBSL) is of the view that the decisions by Fitch Ratings on 3 December 2018 and Standard and Poor’s (S&P Global Ratings) on 4 December 2018 to downgrade Sri Lanka’s Long-Term Rating from ‘B+’ (Stable) to ‘B’ (Stable) are based on uncorroborated facts on the country’s macroeconomic fundamentals. In…

(0)Comments | December 5, 2018 7:46 am

Business Sentiment – Index Shores Up Despite Turmoil

The prospect of change amid the political uncertainty boosts business confidence The seismic shift in power – or attempt to establish such a changeover – on the political platform with a new administration being sworn in, even as the incumbent steadfastly refused to cede what it claimed was its rightful position in parliament, has certainly…

(0)Comments | December 5, 2018 6:00 am

Rating agencies downgrade Sri Lanka as political crisis dents confidence

Reuters – Credit rating agencies Fitch and Standard & Poor’s downgraded Sri Lanka on Tuesday, citing refinancing risks and an uncertain policy outlook, after President Maithripala Sirisena’s sacking of his prime minister in October triggered a political crisis. A bitter row over the sacking of former prime minister Ranil Wickremesinghe in October and the competing…

(0)Comments | December 4, 2018 5:52 pm

A group of representatives of Chamber of Commerce met with President

A group of representatives of the Chamber of Commerce met with President Maithripala Sirisena at the Presidential Secretariat, Monday(03). During this meeting, the current economic situation of the country and regarding the activities of the chambers of commerce were discussed and visions and suggestions were presented regarding the future economic process of the country. Furthermore,…

(0)Comments | December 4, 2018 4:10 pm

S&P cuts Sri Lanka’s credit rating to ‘B’ from ‘B+’, maintains stable outlook

Reuters – S&P Global Ratings said on Tuesday it lowered Sri Lanka’s sovereign credit rating to ‘B’ from ‘B+’, but maintained its outlook at ‘stable’. S&P’s action follows a downgrade of Sri Lanka by Fitch Ratings earlier in the day, citing refinancing risks and an uncertain policy outlook.

(0)Comments | December 4, 2018 4:05 pm