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Feb 07, 2018 (LBO) – Fitch Ratings has confirmed Sri Lanka’s ‘B+’ rating with a stable outlook, saying revised policy framework supports the islands macroeconomic stability. The full statement follows: Fitch Ratings has affirmed Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B+’ with a Stable Outlook. A full list of rating actions is at the […]
British Prime Minister appoints Ranil Jayawardena as Trade Envoy for Sri Lanka
Feb 07, 2018 (LBO) – British Prime Minister Theresa May has appointed Ranil Jayawardena, MP, as her trade envoy for Sri Lanka, British High Commission said.Jayawardena’s role as trade envoy will be to support and enhance the development of Britain’s trade and investment with Sri Lanka.“Given the shared history and close bonds of friendship between Britain […]
CCC Seminar to examine opportunities of Sri Lanka – Singapore FTA
Gain Insights on How to Expand Your Business Opportunities through the Sri Lanka – Singapore FTA Seminar organized by the Ceylon Chamber In light of the new Free Trade Agreement (FTA) signed last month, which is the first FTA Sri Lanka has signed in over a decade, the Ceylon Chamber of Commerce will hold a […]
Sri Lanka Malabe – Fort LRT project to commence by Dec 2018
Feb 06, 2018 (LBO) – Sri Lanka’s Ministry of Megapolis and Western Province Development says that preliminary work on the Light Rail Transport (LRT) project between Malabe and Fort will commence by end of the year once the feasibility study completed in June.“We are currently in the process of doing the feasibility study for six LRT […]
Maldives declares state of emergency, arrests top judges
Feb 06, 2018 (LBO) – President of Maldive Islands, Abdulla Yameen declared a 15-day state of emergency, Monday night and later arrested Chief Justice Abdulla Saeed and another Supreme Court judge, foreign media reports said. The moves comes following a Supreme Court ruling that overturned “terrorism” convictions against nine of the Presidents political opponents. The emergency decree gives […]
Sri Lanka parliament to start Bond debate today and continue after LG polls
Feb 06, 2018 (LBO) – Parliament will commence the debate of the findings of the Presidential Commission on treasury bond scam and the Presidential Commission of Inquiry into Serious Acts of Fraud, Corruption and Abuse of Power, State Resources and Privileges (PRECIFAC), Tuesday. At a party leaders meeting the the Speaker of the House also […]
RIU to host UK-Sri Lanka Investor Forum for 3rd consecutive year in London
Colombo, Sri Lanka – The Research Intelligence Unit will be hosting its annual edition of RIU Investor Forum on Thursday May 17 2018 at the Sri Lanka High Commission in London, UK.The Forum’s objective is to promote and channel investment into Sri Lanka from among the high net worth individuals (HNI) living overseas while also […]
Top investment bank Lazard to help Sri Lanka divest non-strategic assets
Feb 05, 2018 (LBO) – World’s top advisory and asset management firms, Lazard has shown interest in Sri Lanka, with a visit this week by an international delegation. The 2.7 billion US dollars global financial advisory firm in conjunction with MTI Consulting, plans to meet officials of the Sri Lankan government. They will discuss how […]
‘s Hatton Plantations starts trading on CSE
Feb 02, 2018 (LBO) – The shares of Hatton Plantations Ltd (CODE: HPL) commenced trading on the Colombo Stock Exchange (CSE) today. The shares, which were listed by way of an introduction on the Diri Savi Board of the CSE have been classified under the ‘Plantations’ sector. The occasion was marked through a Bell Ringing […]
Fitch assigns Lankaputhra first-time BBB-(lka) rating; outlook positive
Fitch Ratings has assigned Lankaputhra Development Bank Limited (LDB) a National Long-Term Rating of ‘BBB-(lka)’. The Outlook is Positive. KEY RATING DRIVERS LDB’s National Long-Term Rating reflects Fitch’s expectation that the bank would receive extraordinary support from the Sri Lankan sovereign, if required. Fitch believes the sovereign’s propensity to extend support to the bank stems […]