Fitch Ratings – Colombo – 25 Jan 2021: Fitch Ratings has revised the National Long-Term Ratings of Sri Lankan financial institutions following the recalibration of the agency’s Sri Lankan national rating scale. The recalibration is to reflect changes in the relative creditworthiness among Sri Lankan issuers following Fitch’s downgrade of the sovereign rating to ‘CCC’…
Sri Lanka’s foreign policy must be fiercely independent and always be non-aligned, Samagi Jana Balawegaya (SJB) Parliamentarian Eran Wickramaratne stated. Speaking exclusively to Indeewari Amuwatte at the ‘@HydePark’ program on Ada Derana 24, Wickramaratne expressed the following: “Sri Lanka’s foreign policy must be fiercely independent, because we have come out of 500 years of colonial…
The Securities and Exchange Commission (SEC) has approved a set of guidelines for stockbroker firms on good practices at a meeting held on 13 January 2021, the Colombo Stock Exchange (CSE) said in a recent circular. The approved guidelines have also been presented to the Chief Executive Officers of stockbroker firms on 19 January. The firms will be required…
Having observed the varied views published recently on discretionary payments including payment of cash dividends by licensed banks, the Central Bank of Sri Lanka wishes to clarify the following. Previously, the Central Bank of Sri Lanka, on 13 May 2020 decided to restrict certain discretionary payments of licensed banks, such as declaring cash dividends and…
Australia is on course to pass laws that would make the Big Tech giants negotiate payments with local publishers and broadcasters for content. If they can’t strike a deal, a government-appointed arbitrator will decide the price. Sydney: Google said on Friday it will disable its search function in Australia if the government proceeds with a media…
Ayurvie Weligama, a Theme Resorts & Spa’s property, welcomed the first familiarization tour of the tourism restart. The German delegation compromising of Ms. Claudia Wagner, Managing Director & Mr. Uwe Endres, Head of Ayurveda – Fitreisen Group, Mr. Markus Hegemann, Managing Director – NEUE WEGE Bewusst Reisen and journalists Hans-Jorg Baston & Nathalie Gütermann arrived…
Headline inflation as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100) decreased to 4.6 per cent in December 2020 from 5.2 per cent in November 2020. This was due to the statistical effect of the high base prevailed in December 2019. Meanwhile, Food inflation (Y-o-Y) decreased to 7.5 per…
The Committee on Public Enterprises (COPE) conducted another committee meeting using online (ZOOM) technology yesterday (21). The COPE Committee has summoned the Coconut Development Authority to Parliament to inquire in to fiscal activities of the Authority. At this meeting officials from Regional offices joined the meeting via zoom technology. The meeting was held under the…
A virtual awareness session for the Travel Trade in Western India was held on 19 January 2021 to announce the re-opening of Sri Lanka for international tourists from 21st January 2021. This was the first awareness session organized for the Indian Market to inform of Sri Lanka’s re-opening and the “safety protocols” associated with the re-opening…
The Central Bank of Sri Lanka has received information regarding several types of financial frauds and scams being operated through social media, Internet-based applications and mobile payment applications. Most of these scams are conducted through web or mobile app based easy loan schemes that attract the public. During such loan application evaluation process, the fraudsters…
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