Fitch Ratings: Fitch Ratings has downgraded Sri Lanka’s Long-Term Local-Currency (LTLFC) Issuer Default Rating (IDR) to ‘RD’ (Restricted Default) from ‘C’. The ratings on its local-currency bonds tendered in the domestic debt exchange have been downgraded to ‘D’ from ‘C’ while its other four local-currency bonds not tendered in the domestic debt exchange have been affirmed…
Norway pleased to announce the appointment of Mr. Mano Sekaram as Norway’s new Honorary Consul General to Sri Lanka. Mano is an experienced and well-respected leader in the Sri Lankan IT industry and business community. He is the founder and CEO of 99x, a digital product engineering company delivering services to European markets. 99x works…
The inaugural meeting to assess Sri Lanka’s progress regarding the implementation of the new economic reforms proposed by the International Monetary Fund (IMF) was held at the Presidential Secretariat today (14). These discussions will be held over a period of two weeks from today and the final discussion of the review will be held on…
The Treasury bond Exchange Memorandum dated 04 July 2023 (the “Exchange Memorandum”) was published by the Ministry of Finance, Economic Stabilization and National Policies with subsequent announcement of the results of the Invitation to Exchange Treasury bonds on 12 September 2023 (terms used herein but otherwise not defined have the meanings given to such terms…
The Financial Intelligence Unit of Sri Lanka (FIU) published the sanitized report of the 2021/22 National Risk Assessment (NRA) on Money Laundering and Terrorist Financing (ML/TF), which was developed based on the assessment conducted by the FIU of the Central Bank of Sri Lanka (CBSL) together with public and private sector stakeholders. This assessment was…
Participation of the Employees’ Provident Fund in the Domestic Debt Optimisation Programme The Employees’ Provident Fund (EPF/the Fund) wishes to inform its members that as an eligible participant and with the approval of the Monetary Board of the Central Bank of Sri Lanka, it has submitted an offer to exchange the portfolio of Treasury Bonds…
Port City Colombo proudly took center stage as the Gold Sponsor of the prestigious i3 Summit by Khaleej Times in Dubai, which was held under the theme, “Redefining Innovation, Inspiring Change, and Shaping the Future of Business”. This key sponsorship strategically captured the attention of the global investor community, whilst highlighting Port City Colombo’s unwavering…
Analysis reveals policy choices in many developing countries are severely limited, widening the gap between ambition and progress on the Sustainable Development Goals (SDGs), but also identifies innovative strategies to accelerate development The United Nations Development Programme (UNDP) released new research today that shows securing the wellbeing of people and planet too often hangs in…
Senior Advisor to the President on National Security Sagala Ratnayaka maps out ambitious strategy at high-level discussion in Colombo. In a landmark discussion held yesterday (12) in Colombo, Mr. Sagala Ratnayaka, the President’s Senior Advisor on National Security and the President’s Chief of Staff, unveiled a bold vision for the Indian Ocean region. The event…
Fitch Ratings: The world economy is likely to grow a bit faster in 2023 than Fitch Ratings expected in its June Global Economic Outlook (GEO), but the deepening slump in China’s property market is casting a shadow over global growth prospects, just as monetary tightening increasingly weighs on the demand outlook in the US and…
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