All Blogs
Prime Group sets benchmark for real estate industry with credit rating of A- stable
Property magnet Prime Group makes history as the first institution in the Sri Lankan real estate industry to receive a prestigious issuer rating of [A-] Stable from ICRA Lanka, a group company of Moody’s Investors Service. The rating was awarded based on a consolidated view of the exceptional financial and operational linkages of Prime Lands […]
COVID-19: Human development on course to decline this year for first time since 1990
May 21, 2020 (LBO) – Global human development – which can be measured as a combination of the world’s education, health and living standards – could decline this year for the first time since the concept was introduced in 1990, the United Nations Development Programme (UNDP) said recently. “The world has seen many crises over […]
HNB Finance completes successful CSE listing
May 21, 2020 (LBO) – HNB Finance a financial services provider, announced that the company’s shares are now listed on the Colombo Stock Exchange under the Diri-Savi Board. The first to be listed in over two years, HNB FINANCE’s Initial Public Offering (IPO) via an Offer for Sale on the Colombo Stock Exchange, was oversubscribed […]
S&P lowers Sri Lanka’s credit rating to ‘B-’
May 21, 2020 (LBO) – Rating agency S&P has lowered Sri Lanka’s long-term sovereign credit rating to B- from B, with a stable outlook, citing the government’s worsening fiscal position. S&P expects the COVID-19 outbreak to push Sri Lanka’s economy into a recession in 2020, against earlier expectations of a rebound. This would weaken Sri […]
Ad agency’s utilise modern business model geared for ‘Work From Home’ to share cost-benefit with clients
News Publisher and Quire Sri Lanka, Business models geared towards managing agile working staff better equipped to manage COVID-19 lockdown For most Sri Lankans, since March 2020 the economic impact of the COVID-19 pandemic has led to a large-scale effort to promote “work-from-home” (WFH) along with the categorization of “essential workers”. Leaving several industries, including […]
Commercial Bank reduces lending rates of loans, leases, pawning & OD facilities
May 21, 2020 (LBO) – The Commercial Bank of Ceylon has announced a reduction of lending rates across the board in response to the present needs of individual and corporate borrowers and in line with the downward trend of interest rates in Sri Lanka. Effective immediately, the rate cut encompasses all categories of new loans […]
Fitch affirms &’s ratings
May 20, 2020 (LBO) – Fitch Ratings has affirmed and withdrawn Sri Lanka-based National Savings Bank’s (NSB) Long-Term Issuer Default Rating (IDR) of ‘B-‘ with a Negative Outlook. The affirmation of NSB’s IDRs, Support Rating and Support Rating Floor reflects that there have been no material changes from the last review on 5 May 2020. […]
Ceylon Chamber proposes multi-sectoral approach for economic revival
May 20, 2020 (LBO) – The Ceylon Chamber of Commerce has submitted its multi-sectoral proposals to the Task Force for Economic Revival and Poverty Alleviation. This was building on the submission made to the President on a Shared Vision for Post-COVID-19 Economic Recovery. The sectors included in the document covered immediate, medium, and long-term proposals […]
I will not allow anyone to exert undue pressure on our war heroes: President
May 19, 2020 (LBO) – President Gotabaya Rajapaksa says that he will not hesitate to withdraw Sri Lanka from international bodies or organizations, if any such body or organization continuously target the country and war heroes, using baseless allegations. “I will not allow any room for attempts to discredit and destroy the dignity of our […]
Sri Lanka explores SWAP facilities with regional Central Banks
May 19, 2020 (LBO) – Sri Lanka is in the process of exploring SWAP facilities with regional central banks, while arrangements are also being made for syndicate financing with identified foreign sources, the Central Bank said. While reiterating its commitment to meeting all its financial obligations, the Central Bank said in a statement that the […]