The exact impact on the Sri Lankan Economy would depend on the extent of the global spread of the COVID-19 outbreak, its persistence and policy responses of major economies and trading partners, The Central Bank of Sri Lanka said. “The likely slowdown of the global economy and disruptions to the supply chain could affect Sri…
The Colombo Stock Exchange (CSE) with the support of the Inland Revenue Department and PWC Sri Lanka recently gathered members of the corporate community to discuss the tax reforms that have been proposed by the Sri Lankan Government. The Forum on the theme “Maximize Profits Through Understanding Tax Reforms” focused on the salient features of…
An Interactive Evening with Her Excellency Pham Thi Bich Ngoc, Ambassador of Vietnam in Sri Lanka, was held recently at the Ceylon Chamber of Commerce. The event was organized by organized by the Sri Lanka – Greater Mekong Business Council, Her Excellency Pham Thi Bich Ngoc stated that Sri Lanka and Vietnam have been good friends…
Fitch Ratings has assigned Ceylon Electricity Board’s (CEB: AA+(lka)/Negative) proposed senior unsecured debenture issue of up to Rs.20 billion a National Long-Term Rating of ‘AA+(lka)’. The debentures constitute direct, unsubordinated and senior unsecured obligations of CEB and are rated at the same level as the entity’s National Long-Term Rating. CEB’s ratings are equalised with that…
As COVID-19 reaches more than 60 countries, the World Bank Group is making available an initial package of up to $12 billion in immediate support to assist countries coping with the health and economic impacts of the global outbreak. This financing is designed to help member countries take effective action to respond to and, where…
The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 04 March 2020, 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 6.50 per cent and 7.50 per cent, respectively, and thereby continue its…
Senkadagala Finance PLC, a registered finance company announced today (4) that it has acquired Candor Asset Management (CAM), a Sri Lankan unit trust and private portfolio management for an estimated Rs.26.7 million. Candor Asset Management is licensed and regulated by the Security and Exchange Commission of Sri Lanka to manage Unit Trust funds and Private…
First Capital Research believes that the Central Bank will not change its policy rates at the policy meeting scheduled for tomorrow (5), as it reduced rates by 50 basis points in January 2020 to support the continued reduction in market lending rates. The second policy meeting for the year by the Monetary Board of the…
Sri Lanka’s tourism sector has taken a beating following coronavirus outbreak According to the latest data released by the Sri Lanka Tourism Development Authority (SLTDA) the total number of international tourist arrivals to Sri Lanka fell by 17.7% to 207,507 in February from a year earlier, when the arrivals were 252,033 mainly due to the…
South Asia’s first fully-electric supercar Vega EVX, designed and manufactured in Sri Lanka, was officially unveiled yesterday (3) at the Geneva International Motor Show 2020 in Switzerland. However, the Geneva Motor Show did not go as usual due to concerns surrounding the coronavirus outbreak, but it did not hinder car enthusiasts from launching their latest products. “In 2013 and…
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