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LRA upgrades Janashakthi Limited (JXG) to Investment Grade
Janashakthi Limited (JXG), the parent entity of the Janashakthi Group of Companies, announces a three-notch upgrade in its credit rating by Lanka Rating Agency (LRA) from BB- to BBB-. This upgrade signifies a shift from moderate risk to investment grade, reinforcing Janashakthi Group’s strength, stability, and sustained growth in the sectors it operates in. Established […]
IFC & EU Partner with Comm Bank to Scale Up Green Finance, Signaling Need for Climate Resilient Investments
In a move to spur sustainable investments in Sri Lanka, the International Finance Corporation (IFC) and the European Union (EU) partnered with the Commercial Bank of Ceylon (CBC) to scale up green finance, supporting the country’s commitments towards a low-carbon economy. The partnership, which is under EU’s regional initiative ‘Accelerating Climate Smart and Inclusive Infrastructure […]
Industry focus sectors at IORA business conclave 2024
The Indian Ocean Rim Association (IORA) Business Conclave organised by The Ceylon Chamber of Commerce in collaboration with the Ministry of Foreign Affairs on 28 and 29 May, (www.ioraconclave.lk) will focus on sectors significant to the economic development and prosperity of the Indian Ocean Rim region, including Agriculture, ICT, Logistics, and Tourism, including breakout sessions […]
CFA Society SL to upskill analysts to uphold investment research standards
The much-awaited annual CFA Society Sri Lanka Capital Market Awards will be held for the 11th year on 18 June 2024 at the Cinnamon Grand, Colombo. Today, it is among the most sought-after accolades that recognizes and rewards excellence in the local capital markets. The investment research industry is at the center stage of the […]
President Announces Plans to Pass Women-Empowering Bills in Parliament by June
President Ranil Wickremesinghe emphasized his recognition of the challenges women face in safeguarding their families amidst the economic crisis. He highlighted the government’s swift action by presenting two bills to the Parliament aimed at empowering women during this initial phase of economic recovery. The President indicated that these bills are anticipated to be ratified by […]
Opinion – From Socialism to Success: Sweden’s Economic Evolution
by M. Rizwan Muzzammil Introduction Both Sweden and Sri Lanka profess to follow Democratic Socialism. But Sweden has seemingly produced a more successful economy. This has led to the popularly held belief that Sweden is an example of Democratic Socialism done right. In this article a brief economic history of Sweden is provided (as published […]
Emirates extends strategic partnership with Sri Lanka Tourism to boost visitor traffic to the South Asian island
Emirates has reaffirmed its long-standing commitment to promoting tourism to Sri Lanka through a Memorandum of Understanding (MoU) signed with the Sri Lanka Tourism Promotion Bureau at Arabian Travel Market 2024 in Dubai. The MoU was signed by Ahmed Khoory, Emirates’ Senior Vice President, Commercial West Asia & Indian Ocean, and Chalaka Gajabahu, Chairman, Sri […]
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Fitch Ratings has affirmed the rating on SriLankan Airlines Limited’s (SLA) USD175 million government guaranteed 7% unsecured bonds due 25 June 2024 at ‘C’. The rating on the bonds is driven by the unconditional and irrevocable guarantee of the government of Sri Lanka (Long-Term Foreign-Currency Issuer Default Rating: ‘RD’).
SEC Sri Lanka Approves Accredited Shariah Scholars for Islamic Capital Market Products Certification
The Securities and Exchange Commission of Sri Lanka (SEC) has approved a list of Accredited Shariah Scholars as “Supplementary Service Providers”. These scholars are authorized to certify the Shariah compliance of Islamic Capital Market Products intended for listing on the Colombo Stock Exchange (CSE) in accordance with the Listing Rules. The SEC considers this as […]
Sampath Bank unveils its new “Vishwa” retail App
Sampath Bank, a leading innovator in Sri Lanka’s banking industry, proudly unveiled its revolutionary mobile application, Sampath Vishwa Retail. This progressive launch marks a significant milestone within the internet banking landscape, promising unparalleled convenience and accessibility to customers. Boasting a user base of over one million, representing nearly 25% of the bank’s total clientele, Sampath […]