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…
Sri Lankan global HR software solutions provider, hSenid Business Solutions, successfully concluded its investor forum, ahead of its IPO, which is due to open on the 3rd of December 2021. The event showcased the great strides made by hSenidBiz having penetrated the global market for Human Capital Management (HCM) software while presenting the investment case…
Two fold attack on Tourism Tourism was one of the fastest growing sectors in Asia and is the third largest foreign exchange earner in Sri Lanka. When the Covid-19 pandemic surfaced in 2020, tourism was the one to face the immediate impact and one of the industries to be strained the most. Sri Lanka first…
CFA Society Sri Lanka rang the Opening Bell to commence trading at the CSE Monday (22) to celebrate its 20-year anniversary. The event was followed by launch of the Commemorative Cover and Stamp, as a part of a series of initiatives conducted by the society to celebrate this significant milestone Special market opening ceremonies are…
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