The Planters’ Association of Ceylon (PA) and the Plantation Human Development Trust (PHDT) announced major progress in their collective efforts to safeguard all residents of Sri Lanka’s estate community, with over 85% of the community across 7 regions having received their first dose of a COVID-19 vaccine, and 63% being fully as at 10th September…
Today, the United States provided $40 million in financing to SDB Bank in order to bolster Sri Lanka’s Small and Medium sized Enterprise (SME) sector and assist women entrepreneurs. The loan is part of $265 million in funding the U.S. International Development Finance Corporation (DFC) is providing to Sri Lankan banks, including SDB Bank, DFCC…
The Sri Lanka Export Development Board (EDB) in collaboration with the Sri Lanka Embassy in South Korea organized Sri Lanka product displays to promote the Food & Beverage sector in the Korean market. Sri Lankan food products were promoted in Korea Import Good Fair (KIGF) organized by Korea Importers Association (KOIMA) from 22nd to 24thJuly,…
The Department of Census and Statistics (DCS) Sri Lanka, has released the estimated Gross Domestic Product (GDP) at current price and at constant (2010) price in Production approach and the other macroeconomic indicators for the second quarter (April 1st to June 30th) of year 2021. The performance of the Sri Lankan economy during the second…
Thornton and Dane’s combined projects portfolio tops Rs 5.9 billion New entity says confident of doubling portfolio in FY 2021-22 Thornton Engineering, the Nextventures owned civil engineering company, has announced the acquisition of a 100% stake in Dane Engineering (Pvt) Ltd. for Rs 350 million, creating a construction business with a combined portfolio of Rs…
The Colombo Stock Exchange (CSE) announces the introduction of a new Over the Counter (OTC) Platform to facilitate the Repurchase (REPO) Transactions on Corporate Debt Securities with effect from tomorrow (16th September 2021). The new OTC Platform is a significant step in the product expansion line-up of the CSE and is projected towards establishing a…
Bloomberg – Sri Lanka’s new central bank governor said he will soon unveil a roadmap to ensure economic and financial stability as the nation faces depleted foreign exchange reserves and looming debt payments. “The central bank’s first and urgent priority under my watch, will be to provide clarity with regard to the movement of Sri…
Sri Lanka faces one of the worst economic crises in its history. COVID-19 pandemic only exacerbated the existing weaknesses in the economy, the roots lie in unsustainable debt, fiscal indiscipline and low rates of growth. To get out of the crisis comprehensive and deep economics reforms that are structured to a clear timeline is needed,…
Fitch Ratings-Colombo-15 September 2021: Heightened risks from the challenging operating environment stemming from the Sri Lanka sovereign’s (CCC) weak credit profile and the ongoing Covid-19 pandemic continue to pressure the ratings of large Sri Lankan banks, says Fitch Ratings in a new report. Large banks’ financial performance since the pandemic’s onset has been better than…
The Colombo Stock Exchange (CSE) successfully concluded the fifth virtual forum organized as part of an awareness drive for island-wide Small and Medium Enterprises (SME). The event, which was held for SMEs in Kandy, attracted over 25 companies, indicating a strong interest among the entrepreneurial community based in the region. The series of virtual forums…
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