Sluggish economic activity, external and domestic vulnerabilities, muted private credit growth and the sovereign’s weakened credit profile are significant downside risks to the operating environment for Sri Lankan banks, Fitch Ratings says. “We lowered our assessment of the operating environment score for Sri Lankan banks to ‘ccc’ with negative outlook from ‘b-‘ with negative outlook,…
Nestling the commercial and administrative capital of the country, Western province continued to be the forerunner of the economy. However, its share declined, contributing to narrowing of regional disparity. Western province has secured the largest share (39.1%) of the country’s nominal GDP in 2019 but due to improved contribution from the other provinces, the share has…
Sri Lanka ranks 90 out of 189 in the Gender Inequality Index (2019). Over the years, significant strides have been made to create equal opportunities for women, particularly in terms of free and equal access to education and healthcare. However, in the face of structural barriers and harmful societal norms that perpetuate gender stereotypes –…
Sri Lanka Telecom (SLT) has been recognised amongst the ‘10 Most Admired Companies in 2020’ for its continuous efforts in empowering Sri Lankans, spanning over 162 years. The prestigious title is presented to SLT for being a role model to other organizations and entrepreneurs through their remarkable financial achievements and their valuable contribution to society….
Legal luminary Justice K. Sripavan and top academic Prof. A. K. W. Jayawardane to head Board of Sri Lanka’s benchmark private bank The Commercial Bank of Ceylon PLC has announced the appointment of former Chief Justice Kanagasabapathy Sripavan as Chairman and senior academic Prof. A. K. W. Jayawardane as Deputy Chairman with effect from 21st…
The Colombo Stock Exchange (CSE) announces the following changes in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2020 year-end index rebalance. The exclusions and inclusions as announced by S&P Dow Jones Indices, effective from 21st December 2020 (after the market close of 18th December 2020) are presented below…
The Consulate General of Sri Lanka in Sydney recently organized a networking meeting with selected Australian and Sri Lankan entrepreneurs. Consul General Lakshman Hulegalle welcoming the invited guests highlighted the importance of promoting trade, investment and tourism between both countries. He also emphasised the importance of establishing the Australia – Sri Lanka Business Council in…
SDB bank’s just-concluded rights issue conducted amid the ongoing COVID-19 pandemic managed to raise a substantial Rs.1.5 Billion, coming in for praise industry-wide for its freshness in approach and the great receptiveness of their shareholders. Apart from the bank creating capital market history by becoming the first Colombo Stock Exchange-listed entity to successfully host and…
BIMSTEC (Bay of Bengal Initiative for Multi Sectoral, Technical and Economic Cooperation, Dhaka) was initiated as a platform to bring together the countries in the Bay of Bengal to discuss and work in collaboration to develop all aspects of 14 main sectors in a country including tourism within the region. The Member States are Bangladesh,…
Renuka Holdings PLC’s rights issue concluded on Wednesday (16 December) raising 1.082 billion, higher than the required 1.03 billion for complete subscription of the offer signaling strong investor confidence. This Rights Issue was carried out via online channels facilitated by the Colombo Stock Exchange. The managers to the rights issue were Capital Alliance Partners Ltd, while…
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