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‘s Basel III Sub Debt a BBB+(lka) final rating
Fitch Ratings has assigned Seylan Bank PLC’s (A(lka)/Stable) proposed Basel III-compliant subordinated unsecured debentures a National Long-Term Rating of ‘BBB+(lka)’. The final rating is the same as the expected rating assigned on 21 August 2020, and follows the receipt of documents conforming to information already received. The bank expects the proposed subordinated debentures to qualify […]
Facebook launches Instagram Lite in Sri Lanka
Facebook has launched Instagram Lite in Sri Lanka in order to provide access to all users, irrespective of the device, platform and network they are on. This lightweight version of the Instagram app for Android uses minimal data, similar to Facebook Lite. Built using Bloks technology, Instagram Lite is less than 2 MB in size […]
‘s official reserves down to USD 4.5bn by end Feb; YTD rupee depreciation 5.2-pct
Sri Lanka’s official reserves were 4.5 billion US dollars (USD 4,555.7mn) by the end of February, down from 4.8 billion US dollars in January, the latest Central Bank data showed. By the end of February, the foreign currency reserves were 4,097.3 million dollars while the reserve position in the IMF was 69.2 million dollars. Special […]
IMF response to securing SWAP facility of USD 1.5Bn China surprising: Cabraal
State Minister of Finance, Capital Markets, and State Enterprise Reforms Ajith Nivard Cabral says the International Monetary Fund (IMF) response to the news that Sri Lanka has been able to secure a SWAP facility of 10 billion Yuan (USD 1.5 billion) from the Peoples Bank Of China is quite surprising. “The request for the Covid assistance was made by […]
Asia Securities reiterates view of no sovereign default; swap conclusion a confidence booster
In a report issued today, the research arm of leading independent Investment Banking firm Asia Securities, reiterated that it does not see a risk of sovereign default at this point. The eagerly anticipated announcement of the USD 1.5bn currency swap agreement with China this week is expected to provide a significant boost to local and […]
Prime Residencies offers luxury apartments to customers
Prime Land Residencies Ltd, the condominium property arm of the maestro of real estate artistry in Sri Lanka, Prime Group, recently celebrated a milestone achievement upon the completion of its 35th property project. With 5 more projects nearing completion and yet another 5 more awaiting launch, the completion and handing over of 35 properties to anticipating residents has […]
Macksons Holdings launches their first mixed development project in Colombo
Macksons Tower by Macksons Developers was recently launched in the city of Colombo signifying the first mixed development project by Macksons Holdings. Situated at 12, Alfred House Gardens, Colombo 3, the property offers retail and office space with ample parking, thereby providing all required facilities at a convenient location. The soft opening was held in […]
‘s developments including USD1.5bn currency swap with China: IMF
International Monetary Fund (IMF) says that they continue to closely monitor economic policy and financial developments in Sri Lanka including the recent agreement on a swap line with the People’s Bank of China for $1.5 billion. Speaking at the IMF press briefing, Gerry Rice of the Communications Department said that the assessment for emergency financial […]
Don’t listen to the aunties! Young people can find a great career in Tourism and Hospitality
By Jekhan Aruliah I first met Sinnaththurai Jeyakumar in 2020 at a particularly good dinner in Jetwing Jaffna’s elegant restaurant. We had eaten well, enjoyed a bottle of wine, and were feeling good. As we thanked our waiter, he asked if we would like to meet the chef. A moment later there he was. Smart, […]
LSEG announces successful completion of All-Share Acquisition, Refinitiv
LSEG (London Stock Exchange Group) and Refinitiv have combined to become a leading global financial markets infrastructure and data provider. LSEG and Refinitiv have long provided important services and products to the market: the data and analytics used every day to make important decisions; the tools to fight financial crime; the execution venues used to […]