Fitch Ratings has published the National Long-Term Rating of ‘AAA(lka)’ for Sri Lankan conglomerate Hayleys PLC’s (AAA(lka)/Stable) proposed senior unsecured redeemable debentures of up to LKR7 billion. The proposed debentures are rated in line with Hayley’s National Long-Term Rating and existing unsecured notes because we believe there will be limited subordination risk to debenture holders…
Meizu, in collaboration with Geely Auto, held a product launch event in Vietnam on March 21, accelerating its strategic expansion in Southeast Asia with its eco-products. Simultaneously, the Geely International EX5, a global smart pure-electric SUV equipped with the Flyme Auto smart cockpit system, is set to debut in Vietnam in the second quarter of 2025. At the event, Meizu showcased its AI-powered eco-products,…
Unveils all-new automotive masterpiece with 30+ first-in-class features KIA has stormed back into Sri Lanka’s automotive limelight with the unveiling of the all-new Sonet compact SUV, adding zest to the country’s excitement at the resumption of automobile imports. This is the first of 12 new SUV models to be introduced by Kia to the Sri…
In a momentous event for Sri Lanka’s automotive landscape, the first shipment of BYD’s cutting-edge New Energy Vehicles (NEVs) has arrived at Hambantota Port. This historic milestone, facilitated by John Keells CG Auto (JKCG Auto)—the authorized distributor for BYD vehicles in Sri Lanka—ushers in a new era of sustainable mobility and innovation. The shipment includes…
The Central Bank of Sri Lanka has determined Pro Care (Pvt) Ltd., Shade of Procare (Pvt) Ltd have engaged in a scheme prohibited under Section 83 (C) of the Banking Act, No. 30 of 1988, as amended. 1. Tiens Lanka Health Care (Pvt) Ltd 2. Best Life International (Pvt) Ltd 3. Mark – Wo International…
The overall rate of inflation as measured by the National Consumer Price Index (NCPI) on Y-o-Y basis increased to -3.9 % in February 2025, compared to -4.0% in January 2024, according to the latest data released by the Department of Census and Statistics. Food Inflation also increased to -1.1% in February 2025, compared to -2.5%…
SriLankan Airlines has canceled its flights to and from London on March 21, 2025, following the temporary closure of Heathrow Airport due to a large fire at a nearby electrical substation. As a result, flight UL 503 from Colombo to London, scheduled to depart at 12:50 hrs, and flight UL 504 from London to Colombo,…
Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka and Chairman of its Governing Board, has issued an addendum to the Banking Act Directions No. 05 of 2024, further reinforcing corporate governance measures for licensed banks. The new directive introduces a provision that requires directors representing shareholders who have acquired voting rights in…
Industry experts at the Lanka Property Show 2025 expressed confidence in Sri Lanka’s real estate sector, highlighting its potential for growth despite past economic challenges. While factors such as rising interest rates, currency depreciation, and fluctuating taxes previously impacted the market, experts were optimistic that stabilizing interest rates, exchange rates, and tax policies will foster…
The Committee on Public Finance questioned why only around 800,000 falling under the tax net when there are approximately 8 million in the workforce. The Officials representing the Ministry of Finance and the Hon. Deputy Ministers (Dr.) Harshana Suriyapperuma stated that the system is as such that only around 800,000 out of the approximated 8…
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