E. B. Creasy & Co. PLC has declared an interim dividend of Rs. 1.00 per share, paying out Rs. 253.5 Million from the distributable profits of the Current Financial Year. In the previous financial year, the Company paid a total dividend of Rs. 358.3 Million amounting to a dividend of Rs. 1.50 per share maintaining…
(Bloomberg) – Holders of defaulted Sri Lankan bonds are keeping one eye on the South Asian nation’s biggest creditors and the other on an African debt deal for clues as to how the restructuring might play out. A preliminary $2.9 billion loan deal with the International Monetary Fund announced last week wasn’t enough to spark…
Sri Lanka’s leading food and organic product exporters urged the nation’s premier product testing laboratories to enhance their levels of efficiency and effectiveness to enable them to provide a superior service to their overseas customers. These sentiments were aired at a meeting organized by the Sri Lanka Export Development Board (EDB) on 30th August, 2022,…
The Board of Directors of the Colombo Stock Exchange (CSE), with the consultation of the Securities and Exchange Commission of Sri Lanka (SEC) and the stockbroking industry have decided to extend the trading hours from next Thursday, 15th September 2022 as set out below: Pre-open session – 09.30 a.m to 10.00 a.m Open Auction –…
UNDP-led Individual facility to provide crisis relief support to vulnerable communities in Sri Lanka The United Nations Development Programme (UNDP) in Sri Lanka led Individual Crowdfunding Facility; ‘Rebuild Sri Lanka’ platform went live today providing the opportunity for global citizens to contribute to alleviating the impacts of the crisis in the country: www.undp.org/srilanka/donate. Sri Lanka…
(Reuters) – In August, China’s ambassador to Zambia took to the stage at a new conference centre in the capital Lusaka, which he called “a gift from the Chinese government to our Zambian friends”, to speak about lending to the debt-laden southern African country. China is the world’s largest bilateral lender but discloses little on lending conditions…
The Central Bank of Sri Lanka reports that Sri Lanka’s official reserve assets at the end of August 2022 were USD 1,716 million. This is a 5.6% drop from the official reserve asset figure of USD 1,817 million in July 2022. Meanwhile, foreign exchange reserves, the main component of these official reserve assets, decreased from…
It has been decided by the members of the committee on Public Finance that a series of programs should be organized under the initiative of the committee to inform all members of parliament about the nature of the current economic crisis. The decision was taken when the Committee on Public Finance met in Parliament Tuesday…
A large number of visitors gathered at the Sri Lanka stand at the World Food Istanbul Trade Fair held from 1 to 4 September 2022 in Istanbul, Türkiye for a taste of Pure Ceylon tea. Five companies represented Sri Lanka at the fair which included Ceylon Tea Land (Pvt), Ltd Ranfer Group, Damro Exports (Pvt) Ltd, Heritage Teas (Pvt)…
(Bloomberg) – Sri Lankan dollar bonds fell as investors weighed the implications of Zambia’s debt restructuring plan on the crisis-hit island nation’s own negotiations with creditors as China is an important lender to both countries. The 7.55% 2030 dollar bond was indicated 1.3 cents lower at 29.5 cents on the dollar, set for the biggest…
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