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ComBank raises Rs10bn after debenture oversubscribed on opening day
The Commercial Bank of Ceylon has announced that its Rs 10 billion debenture issue closed within hours of opening after it was oversubscribed on opening day, Thursday 1st December 2022, in a noteworthy vote of confidence from investors. The debentures to the value of Rs 10 billion are being issued to further strengthen the Tier […]
CCC Proposals on State Owned Enterprise Reform
The presence of SOEs in strategic sectors of Sri Lanka is proof of the significant value creation it can generate through spillover effects. The societal returns too are greater as it links to our day-to-day activities such as the water we drink, the electricity we use, or even the bus or train we ride. Therefore, […]
Hapag Lloyd Lanka & Aitken Spence Travels boost tourism through luxury cruise Mein Schiff 5
Boosting the revival of the tourism industry in Sri Lanka, Hapag Lloyd Lanka ushers in super luxury cruise ‘Mein Schiff 5’ on the 29th of November at the Port of Colombo and the cruise will be calling the Port of Hambantota on the 30th of November 2022. More than 2,000 passengers (mostly European) and 900 […]
Export earnings decreased by 8.2-pct y-o-y in October 2022
Earnings from the merchandise exports decreased by 8.18 % y-o-y to US$ 1,094.8 Mn in October 2022 as per the data released by Sri Lanka Customs. This was mainly due to the decrease in export earnings from Apparel & Textiles, Tea, Rubber based Products, Coconut based Products, Spices & Essential Oils, and the Fisheries sector. […]
Deceleration in inflation expected to continue in ensuing period: Central Bank
The deceleration in inflation is expected to continue in the ensuing period, supported by subdued aggregate demand pressures, expected improvements in domestic supply conditions, normalisation in global commodity prices, and the timely passthrough of such reductions to domestic prices, along with the favourable statistical base effect. The Central Bank said that the global, as well […]
CBSL expects downward adjustment in bank interest rates; looking at imposing administrative measures
The Monetary Board of the Central Bank has noted with concern the anomalous rise in market interest rates, particularly deposit interest rates and short term lending interest rates, despite the recent improvements in overall money market conditions and the adverse implications on business and economic activity. “The Central Bank would expect a moderation of excessive […]
‘s Central Bank maintains policy interest rates at their current levels
The Monetary Board of the Central Bank has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 14.50 percent and 15.50 percent, respectively, after considering the recent and expected developments in the domestic and global economy and macroeconomic projections. […]
65-pct probability for rates to remain unchanged at upcoming policy review: FCR
First Capital Research (FCR) assigns a probability of 65% for policy rates to remain unchanged at the upcoming monetary policy review while also assigning a 35% probability for a relaxation in policy rates. Moreover, considering the persistent negative liquidity in the banking system, they have assigned a lower probability of 20% for a cut in […]
Government’s attention to resume negotiations on free trade agreements
Government’s intention was to resume the negotiations on free trade agreements said Secretary to the President Saman Ekanayake. It is the vision of the President that Sri Lanka will integrate with the global value chains and with the largest economies in South Asia and East Asia and then expand to the east region linking to […]
‘s Rating
Fitch Ratings has withdrawn Sarvodaya Development Finance PLC’s (SDF) National Long-Term Rating of ‘B+(lka)’. The rating was on Rating Watch Negative, which has not been resolved prior to the withdrawal. Fitch is withdrawing the rating as SDF has chosen to stop participating in the rating process. Therefore, Fitch will no longer have sufficient information to […]