Reuters – Emerging economies are facing headwinds from all sides, with a recent selloff in U.S. Treasuries and China’s slowing economy adding layers of uncertainty while the Federal Reserve might not have reached the end of its rate hike cycle. Restructuring efforts for defaulted countries could reach a breakthrough before year-end as talks continue, while the finances…
Fitch Ratings has affirmed Bank of Ceylon’s (BOC) Long-Term Local-Currency Issue Default Rating (IDR) at ‘CCC-‘ and removed it from Rating Watch Negative (RWN). The Outlook is Stable. At the same time, Fitch has affirmed the National Long-Term Ratings of the following banks, removed them from RWN and assigned Stable Outlooks: – BOC at ‘A(lka)’…
Hemas Holdings PLC, a leading Sri Lankan conglomerate, today announced the resignation of Ms. Kasturi Chellaraja Wilson from her position as Group Chief Executive Officer, effective 31st March 2024. Kasturi has been an integral part of the Hemas family for over two decades, having led several businesses within the Group before assuming the role of…
Sri Lanka once again showed its full potential as a world renowned travel destination at the Embassy Festival 2023, held in the Beautiful city of Hague, Netherlands. Sri Lanka Tourism Promotion Bureau in collaboration with the Sri Lanka Embassy in the Netherlands, made this participation a success by creating an attractive Sri Lanka Pavilion which…
As Global Partner of the International Cricket Council (ICC), Emirates is once again in full swing as Official Airline Partner of the ICC Men’s Cricket World Cup 2023, taking place across India and running from 5 October to 19 November. Kicking off the 13th edition of the tournament, Emirates is sharing its excitement for the game…
Exterminators PLC, Sri Lanka’s premier pest-tech company has recently entered a strategic partnership with Sentario Pest Management, a UK-based firm specialising in preventive pest management. This collaboration marks a significant development for Exterminators PLC as it looks to enhance its service standards and align itself with internationally recognised British and European pest management practices. Sentario…
As part of their continuing efforts to strengthen market standards and investor confidence, officials of the Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) recently met with Compliance Officers of all categories of Market Intermediaries. The meeting served as a valuable opportunity to engage in a constructive dialogue on…
Multi-stakeholder committee’s recommendations aim to safeguard Sri Lanka’s vulnerable children. With the aim of ensuring the protection and well-being of children in Sri Lanka, the Committee appointed to Study and Make Recommendations for the Protection of Children has handed over their comprehensive report to President Ranil Wickremesinghe. The handover took place at the Presidential Secretariat…
The first monetary policy review by the Monetary Policy Board under the Central Bank of Sri Lanka Act, No. 16 of 2023 (CBA) was held on 04 October 2023. In this review, the Board decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by…
Minister of Trade, Commerce and Food Security Nalin Fernando expressed optimism about the country’s economic prospects during a press conference held at the Presidential Media Center today (04). He stated that with the government’s efforts to reduce economic contraction, there is a possibility of achieving a robust economic growth rate of 1.8% to 1.9% in…
Video Story
