A notable depreciation of exchange rate was observed since early March 2022. The Sri Lanka rupee that remained around Rs. 202-203 per US dollar till early March 2022, depreciated thereafter, as a result of the measured adjustment that was allowed in the determination of the exchange rate in the first week of March 2022. The…
We condemn in the strongest possible terms, the violence instigated by progovernment mobs against the peaceful protestors near Temple Trees and Galle Face on the morning of May 9, 2022. We support and praise the extraordinary patience of the protestors at “GotaGoGama” who not only weathered over 30 days of challenges without resorting to violence,…
Tier I Capital and Total Capital Adequacy ratios as at 31st March 2022 above regulatory levels at 11.8% and 14.1%, respectively. 32% growth in Operating Income in comparison to Q1 2021 4% growth in Profit Before Tax year-on-year to LKR 2.6 billion Nations Trust Bank PLC reiterated its strong financial position with steady growth in…
The Central Bank of Sri Lanka, with support from the International Finance Corporation (IFC) has launched a series of guidelines – known as the Sri Lanka Green Finance Taxonomy – designed to help channel financing for sustainable, environmentally friendly products and services while supporting the country’s climate goals. The Sri Lanka Green Finance Taxonomy is…
Total assets cross Rs 2 Tn., first private sector bank to achieve the milestone Mainly influenced by Rupee devaluation, loan book grows by Rs 133 Bn., deposits by Rs 234 Bn. in 3 months 3-month net operating income up 66% to Rs 28.3 Bn. Posts other operating income of Rs 11.3 Bn. primarily from realized…
Sri Lanka Institute of Marketing (SLIM) believes that sudden eruption of violence witnessed at the beginning of the week that changed the nature of peaceful protests, could tarnish the long held reputation of Sri Lanka as a liberal market country that respects principles of democratic governance. The latest wave of turmoil shows a disturbing trend…
Luminex Limited has announced their plans for a LKR 250 Million initial Public Offering (IPO) of 31,250,000 ordinary shares at LKR. 8/- per share, that will be postponed until 19th of May 2022. The postponement comes in the light of the current unrest in the country and at the consultation with the CSE. The issue,…
SINGAPORE: Singapore’s Ministry of Foreign Affairs (MFA) on Thursday (May 12) advised Singaporeans to defer all non-essential travel to Sri Lanka after clashes broke out there. “Singaporeans who are in Sri Lanka are strongly advised to exercise vigilance and take all necessary precautions for their personal safety,” said MFA in a travel advisory. An economic…
The Colombo Stock Exchange (CSE) will resume trading today. Thursday 12th May 2022 onwards from 10.30 a.m. to 12.30 pm. Settlements will take place as notified through the CDS Circular dated 11th May 2022.
In 1919, the May 4th Movement spurred the spread of Marxism throughout China. Hence, in the Peoples Republic of China (PRC), 4th May is dedicated as Youth Day. When academics and intellectuals formed the Communist Party of China (CPC) on 23rd July 1921 they placed youth of the time on centre stage and took back…
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