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Fitch Ratings has assigned DFCC Bank PLC’s (A-(lka)/Stable) proposed Sri Lankan rupee-denominated senior unsecured listed green bonds of up to LKR2.5 billion an expected National Long-Term Rating of ‘A-(EXP)(lka)’.
Advanced port technology & automation to make Colombo Port more efficient: SLPA Chairman
“Adopting advanced port technology and automation are some of the latest solutions planned by the Port of Colombo to increase productivity and efficiency in global port operations,” said Mr. Keith D. Bernard, Chairman of the Sri Lanka Ports Authority (SLPA). “Despite facing challenges like congestion, limited space, and equipment shortages, the Port of Colombo remains […]
SEC acquires world class Market Surveillance system from Nasdaq
The Securities and Exchange Commission of Sri Lanka (SEC) has taken a significant step towards strengthening its market surveillance role by acquiring a world class state-of-the-art market surveillance system from Nasdaq, a leading global technology company. This acquisition aligns with the SEC’s commitment to ensure a fair, transparent, and efficient securities market in Sri Lanka. […]
TISL Demands Accountability in Proposed Mineral Sands Mining Project in Puttalam
Transparency International Sri Lanka (TISL) filed a complaint with the Human Rights Commission of Sri Lanka (HRCSL) on July 19th, requesting an investigation into the alleged corruption, malfeasance and abuse of power by the Sri Lanka Cement Corporation (SLCC) in a proposed mineral sands mining project in Puttalam. The HRCSL has requested a detailed report […]
HNB’s Rating Unaffected by Proposed Acquisition of Alfalah’s Bangladesh Business: Fitch Ratings
Hatton National Bank’s potential acquisition of Bank Alfalah Limited’s Bangladesh operations is unlikely to affect the Sri Lankan bank’s ratings, says Fitch Ratings. Full Statement Hatton National Bank PLC’s (HNB; A(lka)/Stable) potential acquisition of Bank Alfalah Limited’s (BAFL) Bangladesh operations is unlikely to affect the Sri Lankan bank’s ratings, says Fitch Ratings. We believe the […]
Opinion: The Importance of maintaining FDIs amidst changing governments
By Jithendra Antonio: As the presidential election draws near, the people are eagerly awaiting the next era of Sri Lanka. There is no doubt that the result of the election will have a lasting impact on the nation and the economy. One of the most important aspects that the next government should focus on, is […]
Port City Colombo attracts 100+ companies as authorised persons
Port City Colombo has achieved a significant milestone, on-boarding 100+ companies as Authorised Persons (AP’s), as of August 24th, 2024. These companies represent a diverse range of sectors identified to the Colombo Port City Special Economic Zone, including IT, Finance, Professional Services, Shipping, Logistics, Tourism, Healthcare, Real Estate Development, and Global Capability Centres. Among these […]
IFC Partners with Diversity Collective Lanka and Women in Management to Promote Respectful Workplaces in SL
The International Finance Corporation (IFC) has joined forces with Diversity Collective Lanka (DCLK) and Women in Management (WIM) to launch a first-of-its-kind training program aimed at combating gender-based violence and harassment (GBVH) in Sri Lanka’s private sector. The two-year training of trainers initiative will enhance business and social outcomes by promoting respectful workplaces and empowering […]
Sri Lanka’s First Natural Gas Power Plant Launched by President
President Ranil Wickremesinghe emphasized that the renewable energy sector should become the primary driver of economic growth in Sri Lanka over the next decade, similar to how the garment industry was developed as a key economic sector by the government in 1977. The President highlighted that the government has a strategic plan to transform Sri […]
Government Reaches Agreement with IMF to Revise PAYE tax Policy, says President
President Ranil Wickremesinghe announced that the government has reached an agreement with the International Monetary Fund (IMF) to revise the Pay As You Earn (PAYE) tax, a significant concern for the public. He assured that following further discussions, relief measures would be implemented as soon as possible. “With the appreciation of the rupee, the cost […]