The Government of Sri Lanka (GOSL) wishes to express strong displeasure on the recent assessment by Moody’s Investors Service (Moody’s) that led to the rating action, after being placed under review for downgrade three months ago in a similar fashion. Once again, Moody’s irrational rating action with regard to Sri Lanka comes a few days…
Singapore, October 28, 2021 — Moody’s Investors Service (“Moody’s”) has today downgraded the Government of Sri Lanka’s long-term foreign currency issuer and senior unsecured debt ratings to Caa2 from Caa1 under review for downgrade. The outlook is stable. This concludes the review for downgrade initiated on 19 July 2021. The decision to downgrade the ratings…
Global study finds 78% of people feel “stuck” professionally and personally (77%) 90% of people say their meaning of success has changed since the pandemic started 89% of people want technology to help define their future 78% of people felt their companies were more concerned with their mental health now than before the pandemic People…
Jason Avanceña has been appointed Managing Director of Nestlé Lanka PLC effective 1 October 2021 and will lead Nestlé’s operations in Sri Lanka and the Maldives. He takes over from former Managing Director, Fabrice Cavallin, who moved to Switzerland as part of the regional management team for Asia, Oceania and Africa (AOA), overlooking the Nestlé…
Sri Lanka Convention Bureau (SLCB) together with the Sri Lanka Association of Professional Conference Exhibition & Event Organizers (SLAPCEO), held a virtual training programme on the 18 October 2021 under the theme “MICE UP, Redefining Sri Lanka’s MICE Tourism” with the participation of regional hoteliers in Sri Lanka. As per its mandate, SLCB has been organizing…
The Government has lost Rs. 27 billion in excise revenue this year due to the current COVID situation, Commissioner General of Excise Mr. M J. Gunasiri said at the Committee meeting on Public Accounts (COPA) held on the 22nd October 2021. The Commissioner General of Excise pointed out to the committee that although the expected…
Sarvodaya Development Finance (SDF) recently announced its Initial Public Offering (IPO) proposition and will be allowing potential investors the ability to submit applications for the IPO, which will open on the 23rd of November 2021. SDF is a dynamic financial services provider that aims to uplift and empower rural masses across the nation by facilitating…
The Central Bank of Sri Lanka (CBSL) has been receiving information regarding certain Scams where organized parties seem to be claiming that they have large amounts of foreign and/or local currency credited to their accounts which have been temporarily blocked, and that they would pay handsome amounts to any person who can assist in unblocking such amounts. Sometimes they…
Initial Public Offering (IPO) of Lanka Credit and Business Finance Limited, through an Offer for Subscription of up to 75,000,000 Ordinary Voting Shares in the first instance, and a further 50,000,000 Ordinary Voting Shares at the option of the Board of Directors at Rs. 4.00 per share, which opened Tuesday (26th October 2021) was oversubscribed…
The LANKAQR Nationwide Rollout Campaign was launched on 25th October 2021 at the Central Bank of Sri Lanka (CBSL) with the aim of popularizing LANKAQR payments among small and medium merchants as well as consumers, as the prevalent digital payment method in the country. At the invitation of the Governor of CBSL, Mr. Ajith Nivard…
