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Fitch affirms Ceylon Electricity Board at AA+; outlook stable
Nov 26, 2019 (LBO) – Fitch Ratings has affirmed Sri Lanka-based Ceylon Electricity Board’s (CEB) National Long-Term Rating at ‘AA+(lka)’ with a stable outlook. The rating on CEB, which is 100% state-owned, is equalised with that of the Sri Lankan sovereign (B/Stable), reflecting strong linkages with the parent, in line with Fitch’s Parent and Subsidiary […]
Opinion: Helping Sri Lankan workers in South Korea save better
Janaka Wijayasiri Sunil has been employed in South Korea for the last three and a half years, working for a Small and Medium Enterprise (SME) manufacturing automobile parts, in the industrial town of Ansan, in the outskirts of Seoul. He earns KRW 2.5 million or LKR 400,000 a month with overtime and night-shift allowances – […]
MR assumes duties as Minister of Finance, Economic & Policy Development
Prime Minister Mahinda Rajapaksa on Monday assumed duties as the Minister of Finance, Economic and Policy Development at the Secretariat, Colombo 01.
Door is open for a rate cut: First Capital Research
Nov 25, 2019 (LBO) – First Capital Research believes that there is a possibility for a rate cut considering the need to address the sluggishness in economic activity despite the 50 bps rate cuts each in May and Aug. “The external outlook favouring SL, easing political uncertainty and positive macro environment provides an opportunity for […]
Sri Lanka’s Central Bank Governor to leave his post in December
Nov 25, 2019 (LBO) – Sri Lanka’s Central Bank Governor Indrajit Coomaraswamy is planning to leave his post in December, a foreign media report said. “I tended a letter of resignation on Nov. 4. It has nothing to do with elections and politics,” Coomaraswamy told Bloomberg. “It has been in the making since last year, […]
Unilever Sri Lanka partners with Ja’pura University to nurture corporate leaders
In line with its notable objective of nurturing and empowering a generation of future corporate leaders, Unilever Sri Lanka recently signed an MoU with the Marketing Department of the University of Sri Jayawardenapura. The newly formed synergy will reaffirm Unilever’s commitment to developing a repertoire of skills and competencies among undergraduates across Sri Lanka, and […]
Sri Lanka inflation hits high of 5.6-pct in October 2019
Nov 22, 2019 (LBO) – The National Consumer Price Index (NCPI) for all items for the month of October 2019 was 131.9, an increase of 1.3 index points or 1.0 percentage compared to September 2019. The overall rate of inflation as measured by NCPI on year‐on‐year basis is 5.6 percent in October 2019 and inflation […]
‘s Interim Cabinet sworn-in
Nov 22, 2019 (LBO) – Sri Lanka’s President Gotabaya Rajapaksa on Friday appointed the interim cabinet of the caretaker government that will remain in place till the next General election. Prime Minister Mahinda Rajapaksa – Minister of Finance, Economic Affairs, Policy Development, Buddha Sasana & Religious Affairs, Cultural, Water Supply & Urban Development, Housing Facilities Nimal […]
Beware of online scams, protect bank passwords & PINs: Central Bank
Nov 21, 2019 (LBO) – Sri Lanka’s Central Bank warns public that it has received information regarding several types of financial frauds and scams being operated through social media, and Internet-based applications. Full Statement Beware of online scams – Protect your bank passwords and PINs The Central Bank of Sri Lanka has received information regarding […]
Central Bank expresses its strong objection to statement released by Fitch Ratings
Nov 21, 2019 (LBO) – Sri Lanka’s Central Bank says that it strongly objects to the statement released by Fitch Ratings today as it depicts the complete opposite of the realised positive market response, followed by the assumption of duties by the President. Releasing a statement, the Central Bank said the domestic foreign exchange market, […]