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Central Bank of Sri Lanka hosts 54th SEACEN Governors’ Conference
The Central Bank of Sri Lanka hosted the 54th SEACEN Governors’ Conference / High-Level Seminar and the 38th Meeting of the SEACEN Board of Governors in Colombo from 29 November to 02 December 2018. These events were attended by Governors and delegates of SEACEN member Central Banks and Monetary Authorities. The Deputy Managing Director of […]
‘s Central Bank disputes rating agencies’ latest rating decisions
Dec 04, 2018 (LBO) – Sri Lanka’s Central Bank says it is of the view that the decisions by Fitch Ratings and Standard and Poor’s (S&P Global Ratings) to downgrade Sri Lanka’s Long-Term Rating to ‘B’ are based on uncorroborated facts on the country’s macroeconomic fundamentals. Full Statement The Central Bank of Sri Lanka (CBSL) […]
Cruise ships calling Port of Colombo up 29-pct in 2018
Dec 04, 2018 (LBO) – A remarkable growth of cruise ships calling at the Port of Colombo has been reported in this year, Sri Lanka Ports Authority said. According to the authority, 45 cruise ships have been called at Port of Colombo for the first 10 months of this year which is a 28.8 percent growth against […]
” amidst political crisis; outlook stable
Dec 04, 2018 (LBO) – Fitch Ratings has downgraded Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘B’ from ‘B+’, with a stable outlook. Fitch Ratings said the downgrade reflects heightened external refinancing risks, an uncertain policy outlook, and the risk of a slowdown in fiscal consolidation as a result of an ongoing political crisis. KEY […]
GSK to divest Horlicks and other consumer healthcare nutrition products to Unilever
Dec 03, 2018 (LBO) – GlaxoSmithKline plc (LSE/NYSE: GSK) today announced the divestment of Horlicks and other consumer healthcare nutrition brands to Unilever plc (“Unilever”) and the merger of GSK Consumer Healthcare Limited (“GSK India”) with Hindustan Unilever Limited (“HUL”). The value of the deal was approximately £3.1 billion based on the 15-day volume weighted average […]
Appeal Court issues interim order preventing PM & Cabinet from functioning
Dec 03, 2018 (LBO) – Sri Lanka’s Court of Appeal on Monday issued an interim order restraining Prime Minister Mahinda Rajapaksa and the Cabinet from functioning until the petition against them is heard. Notices have also been issued to respondents to appear before the court on 12 December 2018. Judges who considered the arguments presented by […]
SriLankan gets approval to conduct base maintenance operations on A330 aircraft
Dec 03, 2018 (LBO) – European Aviation Safety Agency (EASA) has approved SriLankan Engineering to carry out base maintenance operations on Airbus A330 aircraft as per their regulations. SriLankan Engineering is the aircraft Maintenance-Repair-Overhaul (MRO) arm of SriLankan Airlines, the national carrier of Sri Lanka. SriLankan Airlines said this certification completes the requirements for SriLankan […]
High Commissioner of Sri Lanka in UK calls on Commonwealth Sec-Gen
The newly appointed High Commissioner of Sri Lanka in the United Kingdom Manisha Gunasekera called on the Commonwealth Secretary-General Patricia Scotland on Thursday 29 November 2018 at the Commonwealth Secretariat in Marlborough House.The meeting entailed discussion on issues of mutual interest related to Sri Lanka’s longstanding cooperation within the Commonwealth.High Commission of Sri Lanka London
Sri Lankan IT-BPM delegation visits Sydney for market expansion
In collaboration with the Consulate General of Sri Lanka in Sydney, seven IT-BPM companies led by Information and Communication Technology Agency (ICTA) visited Sydney from 28 – 30 November 2018 on an accelerated market access programme to facilitate and support the IT industry in Sri Lanka. Under the Economic Diplomacy Program initiated by the Ministry […]
‘s stocks and bonds top $ 800mn as constitutional crisis drags on
December 3, 2018 (LBO) – Foreign selling of Sri Lanka’s stocks and bonds continues at a brisk pace in 2018 with net foreign outflows topping Rs145bn (US0mn).Since the constitutional crisis began just over one month ago, approximately Rs45bn (US$250mn) has fled Sri Lanka’s local stock and bond markets. The currency has been adversely impacted leaving […]