JAAF commends revisions made to off-peak industrial electricity tariffs 9% industrial tariff welcomed; JAAF hopes for higher reductions The Joint Apparel Association Forum (JAAF) welcomes the recent revisions made to electricity tariff for the July – December period by the Public Utilities Commission (PUCSL). JAAF specifically welcomes the revisions made to the off-peak industrial electricity…
The Public Relations industry in Sri Lanka celebrates a significant milestone with the Public Relations Association of Sri Lanka (PRASL) being incorporated and duly recognized by the Registrar of Companies on 22nd June 2023 with the approval of the Ministry of Trade. This achievement is the result of one and a half years of dedicated…
Fitch Ratings has downgraded Sri Lanka’s Long-Term Local-Currency (LTLC) Issuer Default Rating (IDR) to ‘C’ from ‘CC’. The issue ratings on local-currency bonds have also been downgraded to ‘C’ from ‘CC’. The Long-Term Foreign-Currency (LTFC) IDR has been affirmed at ‘RD’ (Restricted Default) and the Country Ceiling at ‘B-‘. A full list of rating actions is…
The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 05 July 2023, decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 200 basis points (bps) to 11.00 per cent and 12.00 per cent, respectively. The Board arrived…
Reuters – Sri Lanka’s central bank is widely expected to loosen monetary policy further on Thursday, following a massive 250-basis-point interest rate cut in June, as it looks to revive growth amid a rapid fall in inflation. Sri Lanka’s economy nosedived last year after its foreign exchange reserves fell to record lows, pushing the island…
The Securities and Exchange Commission of Sri Lanka (SEC) is pleased to announce the appointment of Mr. Tushara Jayaratne as the Deputy Director General of the SEC. With a career spanning over 28 years in the Capital Market of Sri Lanka, Mr. Jayaratne has a wealth of experience both at the Colombo Stock Exchange and…
On July 1st, 2023, Ayodhya Iddawela Perera officially took the reins as the 8th Managing Director of Sampath Bank PLC. To commemorate this momentous occasion, a religious ceremony was held on July 4th, 2023. Following the ceremony, a formal gathering was organised with the Sampath Bank team, and the esteemed Board of Directors. Image Caption:…
Pushing the limits of human endurance and backed by an unconquerable spirit to achieve his dreams despite the greatest obstacles, Sri Lanka’s brave son, Johann Peries, continues to scale new heights in harsh terrains, having just returned from Alaska, where he joined a team of six to climb Mt Denali (the highest peak in North…
The Emirates Group is laying the groundwork for its next big growth phase with a mammoth drive to recruit the best minds and talent globally across 180 unique roles. The Group is looking to cherry-pick cabin crew, pilots, engineers, IT professionals and customer service agents at both Emirates and dnata. Despite tough labour market conditions…
Reuters – Sri Lanka’s President will prepare an appropriate time frame to reactivate the Light Railway Transit Project with Japan, which was suspended in 2020 citing financial woes. The island nation is now on a path to recovery after facing its worst financial crisis in more than seven decades last year. A $2.9 billion bailout…
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