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Fitch Ratings has assigned Commercial Bank’s proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to LKR10 billion an expected National Long-Term Rating of ‘A(EXP)(lka)’. The debentures, which have maturities of five and seven years, will be listed on the Colombo Stock Exchange. The bank plans to use the proceeds to further strengthen its […]
President to address the nation tomorrow
President Gotabaya Rajapaksa’s special address to the nation will be telecast/broadcast tomorrow (25) at 8.30 pm on all television channels and radio networks, the President’s Media Division said.
Bar Association of Sri Lanka raises concerns over presidential pardon given to Duminda Silva
The attention of the Bar Association of Sri Lanka (BASL) has been drawn to a pardon given by the President to Duminda Silva, a prisoner who was convicted for unlawful assembly and murder by a High Court at Bar, which was unanimously affirmed by a Divisional Bench of the Supreme Court headed by the then […]
Risks for Sri Lankan Banks May Rise on End of Restriction on ISB Investments: Fitch Ratings
The end of the suspension on Sri Lankan banks’ investments in international sovereign bonds (ISBs) issued by the Sri Lanka sovereign (CCC) has the potential to increase banks’ exposure to sovereign and foreign-currency funding and liquidity risks, says Fitch Ratings. Banks’ credit profiles are already significantly exposed to the sovereign, with Fitch-rated Sri Lankan banks […]
Port City Colombo donates 20 laptops to Colombo Municipal Council for use at vaccination centers
Port City Colombo donated 20 laptop computers to the Colombo Municipal Council (CMC) to be used at vaccination centers, in support of the Council’s ongoing public vaccination drive against COVID-19. Mr. Jiang Houliang, Managing Director of CHEC Port City Colombo, handed over the laptops to the Mayor of Colombo, Her Worship Rosy Senanayake today (17) […]
EU provides emergency relief to victims of cargo ship fire in Sri Lanka
In response to serous oil and hazardous chemical spills triggered by the fire that broke out on a ship carrying hazardous substances in May, the European Union is directing €200,000 (over 48 million Sri Lankan rupees) in humanitarian funding to provide crucial assistance. The aid will benefit 15,000 people who have been heavily affected by […]
Creating an inclusive National Tourism Policy for SL: Transforming sector one question at a time
Mapping the future of the tourism sector in Sri Lanka is vital for the country’s economic recovery post COVID-19. In line with this, the Ministry of Tourism initiated a process to develop a National Tourism Policy for Sri Lanka early this year. The outlines of the policy have been discussed with the Ministry of Tourism, […]
India, Sri Lanka agree to co-operate on common regional issues
Foreign Minister Dinesh Gunawardena, in a telephone conversation held yesterday (21 June) with the Indian External Affairs Minister said that the steps that both countries have taken so far to enhance bilateral relations between Sri Lanka and India have been fruitful. Foreign Minister Gunawardena thanked the Indian External Affairs Minister for the financial assistance and […]
Opinion:Negative effects of organic manure for Sri Lanka’s entire tea industry
I.D. Gooneratne Former Director of J.E.D.B, III Regional Agricultural advisor to 20 tea estates Consultant, functioned as Deputy Director, Extension Services of the TRI Advisor, Tea Manufacturing, John Keells Ltd for 6 years. With my experience, based on 45 years of hands-on, direct experience in the tea industry, I wish to issue a dire warning […]
Plug & play ‘Park in park’ manufacturing facility at Hambantota Port Industrial Zone
The Hambantota International Port Group (HIPG) has partnered with Shenzhen Xinji Group to set up a plug-and-play ‘Park in park’ manufacturing facility within the port’s industrial zone. The concept is a fully-fledged stand-alone industrial facility with some very unique features, set to operate within the Hambantota International Port’s Industrial Zone. The signing of the joint […]