“Corporate Governance Provisions for the separation of the Chairman and the Chief Executive Officer roles in Listed Companies, were to be introduced only after stakeholder consultation” said Ranel Wijesinha Chairman, Securities and Exchange Commission (SEC). A decision was taken at the end of the third quarter of 2018, to subject this issue for consultation when…
The World Bank Board of Directors today approved a $70 million credit to improve the quality of life of around one million people living in Northern, North Central, Eastern and Uva Provinces in Sri Lanka. The new local development project will put local communities at the center of planning and delivery of essential services such…
Reuters – Sri Lankan shares recovered from a 5-1/2-year low on Thursday on bargain hunting after four straight sessions of losses, but concerns over economic and political stability kept the gains in check. ** Parliament late on Tuesday passed the second reading of the 2019 budget that raises spending while setting an ambitious goal to…
The American Chamber of Commerce in Sri Lanka held a closed-door roundtable discussion recently with Thomas L. Vajda, Acting Principal Deputy Assistant Secretary, Bureau of South and Central Asian Affairs, U.S. Department of State. The meeting was also attended by Her Excellency, U.S. Ambassador for Sri Lanka and Maldives, Alaina B. Teplitz along with other…
Fitch Ratings has assigned a final rating of ‘B’ to the following bonds issued by Sri Lanka on 7 March 2019: – USD1 billion 6.85% bond due 2024 – USD1.4 billion 7.85% bond due 2029 This replaces the expected rating of ‘B (EXP)’ that Fitch assigned on 6 March 2019. KEY RATING DRIVERS The ratings…
His Excellency, President Maithripala Sirisena and Hon. Prime Minister Ranil Wickremesinghe graced the occasion of the 20th Anniversary celebrations of the Chamber of Young Lankan Entrepreneurs (COYLE) held on 10th March at the Shangri-La Hotel, Colombo. Also present at the gala function were several Ministers together with local and foreign dignitaries. The traditional Kiribath was…
In a market place replete with choice, and the growth of an ever savvier consumer base, the market today is looking for a quality product with a strong financial backing that would meet the requirements of a discerning clientele. 447 Luna Tower scores high across each and every parameter – as it offers a strong…
Reuters – Sri Lankan shares fell for a fourth straight session on Wednesday, hovering near 5-1/2-year low, as investors sold blue- chips amid concerns over economic and political stability. ** Parliament late on Tuesday passed the second reading of the 2019 budget that raises spending while setting an ambitious goal to reduce the country’s large…
The growth of tourism and Sri Lanka’s probable emergence as the main commercial and financial centre between Singapore and Dubai with the rise of the Colombo Port City, augur well for the country’s condominium market, a business leader in the sector said recently. Altair Director Pradeep Moraes told a Real Estate Investor Forum in…
To create awareness amongst cricket enthusiasts about the benefits of getting online The International Cricket Council (ICC) announced a partnership with GoDaddy Inc. (NYSE: GDDY), which will see the company that empowers everyday entrepreneurs become an official sponsor of the ICC Men’s Cricket World Cup 2019, one of the biggest sporting events in the world….
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