Sri Lanka’s corporates would have breathed a collective sigh of relief in May as the Colombo Stock Exchange (CSE) opened for trading following an extended shutdown in the face of the COVID-19 outbreak and imposition of curfew. The move came at a time when businesses were looking to get back on track given the hit…
Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, in less than a month, concluded the immediate civil reconstruction and provision of equipment to establish a fully functional Intensive Care Unit (ICU) at the Negombo District General Hospital. This concludes the first step taken in the pledged Rs. 200 Million towards the urgently required ICU capacity…
The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator and the shadow regulator of the lubricant industry, said yesterday(31) it is all set to resolve the electricity consumer complaints and address stakeholder issues online, and requested the public and the stakeholders to use the online platforms to be connected to the Commission….
Fitch Ratings has downgraded Sri Lanka-based Kotagala Plantations PLC’s (Kotagala) National Long-Term Rating to ‘RD(lka)’ (Restricted Default) from ‘CC(lka)’. The National Rating on its outstanding senior secured debentures have been downgraded to ‘C(lka)’ from ‘CC(lka)’ to reflect low recovery prospects amidst significant prior ranking and secured debt. KEY RATING DRIVERS Missed Principal, No Grace Period:…
The Monetary Board of the Central Bank of Sri Lanka (CBSL) at its meeting held on 28.05.2020, having considered the continuous failure to comply with the Directions applicable to NatWealth Securities Limited (NWSL) as a Primary Dealer, acting in terms of the Regulations made under the Registered Stocks and Securities Ordinance and the Local Treasury…
Technology evangelist Dr. Sanjiva Weerawarana has resigned from the Board of the Information and Communication Technology Agency (ICTA), Sri Lanka. Dr.Weerawarana is the Founder of WSO2 and the Lanka Software Foundation. He is currently affiliated with numerous universities, institutes and chambers including the Sri Lanka National Science Foundation, Sri Lanka Institute of Nanotechnology, University Grants Commission,…
For a Limited time in Limited Edition Samsung Sri Lanka is poised to launch Sri Lanka’s 1st Samsung foldable device to elite premium customers who are seeking the best of technology. The Galaxy Z Flip is the precursor of the new foldable era and sports a truly compact and iconic design. A treat for the…
The Commercial Bank of Ceylon has announced the commitment of approximately Rs 10 billion to a Bank-funded COVID-19 Support Loan Scheme to assist affected SME enterprises. This assistance would be in addition to the working capital loans scheme implemented under a credit line provided by the Central Bank of Sri Lanka (CBSL), the Bank said….
Headline inflation as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100) declined to 4.0 per cent in May 2020 from 5.2 per cent in April 2020. This was solely driven by the statistical effect of the high base prevailed in May 2019. Food inflation (Y-o-Y) declined to 9.9 per…
Sri Lanka’s most innovative bank, HNB PLC successfully concluded the country’s first-ever hybrid virtual Annual General Meeting on May 29. The 51st AGM was hosted at the HNB Towers Auditorium and Conference room in addition to being streamed live for shareholders over Microsoft Teams. In total, over 100 HNB shareholders registered to participate at the…
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