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Fitch Assigns Sri Lanka’s USD Bonds Final ‘B’ Rating

Fitch Ratings has assigned a final rating of ‘B’ to the following bonds issued by Sri Lanka on 7 March 2019: – USD1 billion 6.85% bond due 2024 – USD1.4 billion 7.85% bond due 2029 This replaces the expected rating of ‘B (EXP)’ that Fitch assigned on 6 March 2019. KEY RATING DRIVERS  The ratings…

(0)Comments | March 14, 2019 11:04 am

Aminda Rodrigo appointed new Chairman of COYLE at 20th Anniversary Celebrations

His Excellency, President Maithripala Sirisena and Hon. Prime Minister Ranil Wickremesinghe graced the occasion of the 20th Anniversary celebrations of the Chamber of Young Lankan Entrepreneurs (COYLE) held on 10th March at the Shangri-La Hotel, Colombo.  Also present at the gala function were several Ministers together with local and foreign dignitaries. The traditional Kiribath was…

(0)Comments | March 14, 2019 10:59 am

Belluna Co. Japan demonstrates confidence in Sri Lanka by investing mammoth US$450 million

In a market place replete with choice, and the growth of an ever savvier consumer base, the market today is looking for a quality product with a strong financial backing that would meet the requirements of a discerning clientele. 447 Luna Tower scores high across each and every parameter – as it offers a strong…

(0)Comments | March 14, 2019 7:57 am

Sri Lanka shares fall for 4th straight session, rupee weakens

Reuters – Sri Lankan shares fell for a fourth straight session on Wednesday, hovering near 5-1/2-year low, as investors sold blue- chips amid concerns over economic and political stability. ** Parliament late on Tuesday passed the second reading of the 2019 budget that raises spending while setting an ambitious goal to reduce the country’s large…

(0)Comments | March 14, 2019 7:53 am

Altair reaffirms potential of Sri Lanka’s real estate sector at investor forum in Maldives

The growth of tourism and Sri Lanka’s probable emergence as the main commercial and financial centre between Singapore and Dubai with the rise of the Colombo Port City, augur well for the country’s condominium market, a business leader in the sector said recently.   Altair Director Pradeep Moraes told a Real Estate Investor Forum in…

(0)Comments | March 13, 2019 3:07 pm

ICC Partners with GoDaddy as Official Sponsor of the Men’s Cricket World Cup 2019

To create awareness amongst cricket enthusiasts about the benefits of getting online   The International Cricket Council (ICC) announced a partnership with GoDaddy Inc. (NYSE: GDDY), which will see the company that empowers everyday entrepreneurs become an official sponsor of the ICC Men’s Cricket World Cup 2019, one of the biggest sporting events in the world….

(0)Comments | March 13, 2019 11:11 am

Sri Lanka shares fall to more than 5-1/2-year low, rupee falls ahead of budget vote

Reuters – Sri Lanka’s shares fell for a third straight session to a more than 5-1/2-year low on Tuesday as investors awaited a budget vote later in the day to assess the political stability of the government led by Prime Minister Ranil Wickremesinghe. ** Sri Lankan Finance Minister Mangala Samaraweera last week presented the 2019…

(0)Comments | March 13, 2019 9:42 am

Singapore, Australia ban use of Boeing 737 MAX

A number of countries have grounded Boeing’s 737 MAX 8 medium-haul workhorse jet in response to the Ethiopia crash. Singapore and Australia on Tuesday banned the use of Boeing 737 MAX aircraft in their airspace following a deadly plane crash in Ethiopia on Sunday. The Civil Aviation Authority of Singapore (CAAS) said in a statement that it…

(0)Comments | March 12, 2019 5:25 pm

Industry specialists evaluate the national budget at CA Sri Lanka’s 2019 budget seminar

Industry specialists representing diverse sectors recently evaluated the economic and tax perspectives arising from the 2019 National Budget at the CA Sri Lanka Budget Seminar held recently at the Hilton Colombo. The event was attended by a large number of professionals including Chartered Accountants. CA Sri Lanka President Mr. Jagath Perera delivered the welcome speech….

(0)Comments | March 12, 2019 4:21 pm

Sri Lanka’s Government infused Rs. 300 Bn to Economy – PM Ranil at COYLE

The Government has infused nearly Rs. 300 billion cash to the economy of Sri Lanka following a host of recent measures taken to address the liquidity issue, Addressing Sri Lanka’s Chamber of Young Lankan Entrepreneurs (COYLE) 20th anniversary, Sri Lanka’s Prime Minister Ranil Wickremesinghe on Sunday (10) revealed. Premier had further said the Treasury has…

(0)Comments | March 12, 2019 4:09 pm