Reuters – Oil prices were up more than $3 a barrel in Asian trade on Monday as military clashes between Israel and the Palestinian Islamist group Hamas deepened political uncertainty across the Middle East and raised concerns about supplies. Brent crude rose $3.10, or 3.67%, to $87.68 a barrel by 0400 GMT, while U.S. West…
“Financial literacy is an essential building block for financial inclusion. It is the key that unlocks financial independence and economic well-being. It enables people to make informed investment decisions, detect and protect themselves from frauds and scams, and gives them the trust and confidence they need to participate actively in the capital markets.” -SEC Chairman…
As part of their continuing efforts to strengthen market standards and investor confidence, officials of the Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) recently met with Compliance Officers of all categories of Market Intermediaries. The meeting served as a valuable opportunity to engage in a constructive dialogue on…
President Ranil Wickremesinghe unveiled an ambitious 10-year initiative aimed at boosting agriculture and tourism in the Eastern Province, with a particular focus on the development of Trincomalee. He highlighted plans to harness the untapped potential of the Mahaweli A and B zones in the Batticaloa district, previously overlooked by Mahaweli projects. Additionally, a comprehensive tourism…
The Ceylon Motor Traders Association (CMTA), the senior most automotive association in Sri Lanka, recently held another CMTA Stakeholder Breakfast Forum at the Hilton Colombo Residencies. The event was graced by His Excellency Denis Chaibi, the EU Ambassador to Sri Lanka and the Maldives as the guest speaker. Several other Officials from Ministries, Government institutions…
Fitch Ratings-Hong Kong-06 October 2023: Fitch Ratings expects general government (GG) debt/GDP to fall for around half of sovereigns in Asia over 2023-2025. However, the scale of the decline appears modest in the context of strong regional economic growth and the large increase in government debt in most economies during the Covid-19 pandemic. APAC sovereigns…
Reuters – Emerging economies are facing headwinds from all sides, with a recent selloff in U.S. Treasuries and China’s slowing economy adding layers of uncertainty while the Federal Reserve might not have reached the end of its rate hike cycle. Restructuring efforts for defaulted countries could reach a breakthrough before year-end as talks continue, while the finances…
Fitch Ratings has affirmed Bank of Ceylon’s (BOC) Long-Term Local-Currency Issue Default Rating (IDR) at ‘CCC-‘ and removed it from Rating Watch Negative (RWN). The Outlook is Stable. At the same time, Fitch has affirmed the National Long-Term Ratings of the following banks, removed them from RWN and assigned Stable Outlooks: – BOC at ‘A(lka)’…
Hemas Holdings PLC, a leading Sri Lankan conglomerate, today announced the resignation of Ms. Kasturi Chellaraja Wilson from her position as Group Chief Executive Officer, effective 31st March 2024. Kasturi has been an integral part of the Hemas family for over two decades, having led several businesses within the Group before assuming the role of…
Sri Lanka once again showed its full potential as a world renowned travel destination at the Embassy Festival 2023, held in the Beautiful city of Hague, Netherlands. Sri Lanka Tourism Promotion Bureau in collaboration with the Sri Lanka Embassy in the Netherlands, made this participation a success by creating an attractive Sri Lanka Pavilion which…
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