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Sri Lanka nationwide inflation decreased in November
Dec 24, 2019 (LBO) – Sri Lanka’s headline inflation as measured by the year-on-year change in the National Consumer Price Index decreased to 4.1 percent in November from 5.6 percent in October contributed by the statistical effect of the high base prevailed in October 2018. According to the Statistics Department, Year-on-year food inflation has decreased […]
First Capital wins Silver – Investment Banking Category at Annual Report Awards
First Capital Holdings PLC, the only listed investment bank in Sri Lanka, won the Silver Award under the newly introduced industry category “Investment Banking” at the 55th Annual Report Awards competition organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka). The Award and Certificate were presented to First Capital by Heshana […]
Fitch revises Outlook on Sri Lanka Telecom to Negative; affirms at AA+
Dec 23, 2019 (LBO) – Fitch Ratings has revised the Outlook on Sri Lanka Telecom PLC’s (SLT) National Long-Term Rating to Negative from Stable and affirmed the rating at ‘AA+(lka)’. They have also affirmed the National Ratings on SLT’s outstanding senior unsecured debentures at ‘AA+(lka)’. The rating action follows Fitch’s revision of the Outlook on […]
Fitch revises Outlook on Ceylon Electricity Board to Negative
Dec 23, 2019 (LBO) – Fitch Ratings has revised the Outlook on Ceylon Electricity Board’s (CEB) National Long-Term Rating to Negative from Stable and has affirmed the rating at ‘AA+(lka)’. The Outlook revision follows the Outlook revision on Sri Lanka’s ‘B’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to Negative from Stable. The rating on CEB, […]
CA Sri Lanka, CMA & SAFA launches Digital Competency Maturity Model for SMPs
Dec 23, 2019 (LBO) – With digitization expected to have profound implications on Small and Medium-Sized Practices (SMPs), the South Asian Federation of Accountants (SAFA) together with the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the Institute of Certified Management Accountants of Sri Lanka (CMA Sri Lanka) launched the Digital Competency […]
DIMO launches power panel manufacturing plant at DIMO logistics centre
Diesel & Motor Engineering PLC (DIMO), one of Sri Lanka’s leading diversified companies has successfully launched its own power panel manufacturing plant in Weliweriya DIMO Logistics Centre. DIMO commenced manufacturing their own electrical power panels two years ago, mainly to cater the electrical projects secured by various divisions of the company. DIMO have successfully achieved […]
Opinion: Paving way towards safer Sri Lanka for women and girls
(UNFPA) – Violence against women and girls is one of the most prevalent human rights violations in the world. The costs of violence are extremely high and include direct costs to the country as well as the untold cost inflicted on survivors and their communities for generations to come. Putting an end to this grave […]
Government directs banks to suspend recovery of SME loans
Dec 20, 2019 (LBO) – Sri Lanka’s Finance Ministry says the government has issued directives to Chairmen and CEOs of all banks to suspend the recovery of loans obtained by the SME sector. Finance Ministry statement President, PM direct all banks to suspend recovery of SME loans President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa […]
‘Revitalized Africa Policy’ to guide Sri Lanka’s engagement with Africa
Dec 20, 2019 (LBO) – Foreign Secretary Ravinatha Aryasinha has said the operationalization of the recently developed ‘RevitalizedAfrica Policy’, seeks to enhance Sri Lanka’s cooperation in the political, economic and cultural spheres across Africa. Among the envisaged measures for closer engagement are the expansion of Sri Lanka’s diplomatic presence in Africa, stronger and mutually productive […]
President appoints tech-studded ICTA board to drive digital Sri Lanka
Dec 20, 2019 (LBO) – In line with his vision for a Sri Lanka driven by technology, President Gotabaya Rajapaksa has appointed a tech-studded board for the Information and Communication Technology Agency of Sri Lanka (ICTA). Steering the board as Chairman is Jayantha De Silva, Co-Founder of IFS Sri Lanka, the country’s first FDI-funded technology […]