The Hambantota International Port Group (HIPG) today signed an agreement with INSEE Cement, the leading cement manufacturing company in Sri Lanka, to ensure the efficient transfer of raw materials to their factory in Galle, via the Hambantota Port. This will have a positive impact on the operational efficiency. The agreement was signed between Gustavo Navarro,…
The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 24 November 2021, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 5.00 per cent and 6.00 per cent, respectively. The Board arrived at…
The Commercial Bank of Ceylon PLC was declared Sri Lanka’s ‘Best Corporate Citizen’ in 2021 by the Ceylon Chamber of Commerce (CCC) on Tuesday night, achieving the pinnacle of recognition for sustainability and good corporate citizenship in the country’s corporate sector. The coveted ‘Best Corporate Citizen Sustainability Award 2021’ was presented to Sri Lanka’s benchmark…
Reuters – The Central Bank of Sri Lanka (CBSL) is expected to raise rates a second time since the onset of the pandemic on Thursday to curtail inflationary pressures, manage external challenges and attract foreign inflows, economists and analysts said. Seven out of 12 economists polled, expect the CBSL to increase the standing deposit facility…
Fitch Ratings : The Sri Lankan government’s proposal to introduce new one-off as well as recurring taxes on companies will likely constrain the near-term profitability of some insurers, Fitch Ratings says. However, we expect the proposals to have only a limited impact on most insurers’ capital positions because of their sound capital buffers accumulated before…
A manuscript with calculations made by Albert Einstein as he attempted to formulate his theory of relativity has sold at auction for €11m (£9.7m, $13m) BBC – The sale at Christie’s auction house in Paris broke the record for an autographed scientific document. It is one of just two papers that show the theoretical physicist’s…
The upcoming Sri Lanka Economic Summit 2021, the foremost and most anticipated economic event of Sri Lanka, will host a lineup of contemporary dialogues under this year’s theme ‘Springboard for revival: Opportunity to reset’. Day two of the event will feature a session dedicated to ‘New Instruments – Springboard for Exports’ on 7th December, 2021….
Alliance Finance Co PLC (AFC) has successfully raised LKR 1 billion in Tier II capital, with the aim of strengthening the regulatory capital of the Company to financially empower and facilitate the development of the Micro, Small and Medium enterprise sector in Sri Lanka. The Tier II Subordinated Debt has a tenure of 5 years…
Sarvodaya Development Finance’s (SDF) Rs. 1 billion Initial Public Offering (IPO) was oversubscribed on the initial opening day. The company secretary issued the announcement of the oversubscription within two hours of the opening. Underwritten by NDB Bank and Sampath Bank, the IPO was aimed at raising Rs. 1 billion, through 45 million ordinary voting shares…
Capital Alliance Limited (CALT) will list its equity shares on the Colombo Stock Exchange (CSE) via an Initial Public Offering tomorrow. The CALT IPO has gained significant traction and is highly anticipated by investors. CALT offers 41,177,236 ordinary shares for a 12.5% stake to the public, priced at LKR 10 per share. The IPO price…
Video Story
