Two members of the Monetary Board of the Central Bank of Sri Lanka (CBSL), Nihal Fonseka and Dr. Dushni Weerakoon, have submitted their resignation with effect from 31 May 2020. This is to enable the reconstitution of the Monetary Board on the request of the Government. Former Colombo Stock Exchange (CSE) Chairman and veteran banker Nihal Fonseka was appointed…
Given the current uncertainty regarding the duration and intensity of the pandemic in Sri Lanka and globally, Hayleys PLC said that it needs more time to assess and quantify the exact impact of COVID-19 on the Group’s operations. In a disclosure to the Colombo Stock Exchange (CSE), Hayleys PLC Chairman and Chief Executive Mohan Pandithage…
By Harini Weerasekera and Chamini Thilanka The susceptibility of smokers to contract COVID-19 has been recognised by the World Health Organisation (WHO) and other medical authorities. In Sri Lanka, concerned parties have called for a temporary ban of cigarette sales as a measure to contain the spread of the virus – a commendable move. However, beyond the pandemic, it…
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…
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