The United States donated 500,000 Rapid Diagnostic Tests (RDTs) as part of its commitment to support Sri Lanka’s fight against COVID-19. These tests, worth 300 million Sri Lankan rupees (USD 1.5 million), were delivered to the Sri Lanka Ministry of Health through the United States Government’s development arm, the U.S. Agency for International Development (USAID)….
As the Government of Sri Lanka accelerates the vaccination drive in the country SriLankan Airlines extends its support by airlifting 2 million doses of Sinopharm vaccines. Accordingly, two SriLankan Airlines flights UL869 and UL865 arrived in Colombo this morning with the consignment of vaccines from China. This is the second-largest batch of vaccines flown to…
Following the widely sought IPO by JAT Holdings yesterday (20), the company experienced massive interest and market demand, resulting in the oversubscription of 82,904,846 ordinary shares. Priced at a value of Rs. 27 per share, the IPO raised Rs.2.2 billion in funds for the company’s near term objectives of investment in enhancing the existing R&D…
The Sri Lanka Export Development Board (EDB) and Sri Lanka High Commission in New Delhi, India jointly organized an online briefing session with Amazon India (www.amazon.in) on 29th June, 2021, to explore the digital marketing opportunities available for the Sri Lankan exporters in the Indian market via the highly reputed e-commerce platform; amazon.in. Upekkha Samaratunga,…
Imposition of Administrative Penalties by the Financial Intelligence Unit (FIU) to Enforce Compliance on Financial Institutions during the Second Quarter of 2021 By virtue of the powers vested under Section 19 (1) read together with section 19 (2) of the Financial Transactions Reporting Act, No. 06 of 2006 (FTRA), financial penalties are imposed on Institutions…
Following the announcement by Moody’s Investors Service on Sri Lanka’s Sovereign rating, the Ministry of Finance has issued a response:
IFC has appointed Hector Gomez Ang as Regional Director for South Asia. Based in New Delhi, he will play a critical role in boosting IFC’s investments in the region, as it looks to recover from the severe impacts of COVID-19. In taking on the new role, Gomez Ang said the private sector had an essential…
The Belgian Investment Company for Developing Countries (BIO) agreed with SDB bank, pioneering provider of financial services, to take up a 10% share of the bank, amounting to Rs. 925 million at Rs. 51.50 a share, via SDB bank’s Secondary Public Offering (SPO). The agreement was made on 9 July and was a milestone achievement…
JAT Holdings Limited Initial Public Offering (IPO) was successfully oversubscribed on the opening day. In a stock exchange filing on Tuesday (20) morning JAT Holdings noted that they have received applications for over Rs 2.23 billion for the above issues by JAT Holdings Limited and accordingly the issue has been oversubscribed. Therfore, the issue will…
LONDON, (Reuters) – Moody’s Investors Service on Monday said it had placed the government of Sri Lanka’s Caa1 rating under review for downgrade, citing the risk of default due to falling foreign exchange reserves. The ratings agency said the decision, which applies to Sri Lanka’s foreign currency long-term issuer and senior unsecured debt ratings, reflected an increasingly…
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