Author: lbostgadmin
”; Outlook Negative
Fitch Ratings has downgraded Sri Lanka- based apparel manufacturer Hela Apparel Holdings PLC’s National Long-Term Rating to ‘AA-(Ika)’, from ‘AA(Ika)’. The Outlook is Negative. The downgrade is based on our forecast that Hela’s interest coverage and leverage will weaken to below our negative rating sensitivities in the financial year ending March 2023 (FY23) and FY24. […]
‘s government should make sure that wealthy pay their fair share: Human Rights Watch
The government of Sri Lanka should ensure that policies to enhance revenues do not further erode economic and social rights and that anti-corruption reforms provide accountability, Human Rights Watch said today. On March 20, 2023, the International Monetary Fund (IMF) approved a US$3 billion loan to Sri Lanka to help resolve the spiraling economic crisis […]
Sri Lanka-Thailand Free Trade Agreement to be signed in first quarter of 2024
The fourth round of negotiations on the proposed Sri Lanka-Thailand Free Trade Agreement (SLTFTA) was held in Colombo from 27 to 29 March 2023. On March 26, a 35-member Thai delegation led by Auramon Supathaweethum, Director General of the Department of Trade Negotiations, arrived in Sri Lanka for the fourth round of talks. The Sri […]
CEB announces planned maintenance schedule for power plants
The Ceylon Electricity Board has announced the planned maintenance schedule for CEB power plants for the year 2023 after analysing more than twenty scenarios. During the latter part of November 2022, the Ceylon Electricity Board conducted several planning exercises to prepare the electricity dispatch schedule for the year 2023. CEB further stated that they analyzed […]
Trincomalee has been identified as a potential port for green hydrogen, says President
Sri Lanka’s President points out that Trincomalee has been identified as a potential port for green hydrogen due to its proximity to the North, which has abundant sources of green hydrogen, renewable energy, and strong wind power in Sri Lanka. President Ranil Wickremesinghe said this during a meeting with investors who attended the Sri Lanka […]
We have not authorized anyone to operate cryptocurrency schemes in Sri Lanka, warns CBSL
Sri Lanka’s Central Bank says that they have not issued any licence or authorized any individual or business to operate schemes involving cryptocurrency, and has not authorized any Initial Coin Offerings (ICOs) or any variant of it, cryptocurrency mining operations, cryptocurrency exchanges, deposit-taking or custody services related to cryptocurrency or any cryptocurrency investment advisory service. […]
‘s biography launched in Colombo
The biography of the late Editor of The Sunday Leader Lasantha Wickrematunge, Unbowed & Unafraid was launched today by his ex-wife Raine Wickrematunge, at an event held at the Sri Lanka Foundation Institute. The welcome address was delivered by Lasantha Wickrematunge’s niece, journalist Raisa Wickrematunge, followed by the keynote address by Peter D’ Almeida and […]
”’ Rating on Watch Positive following proposed disposal
Fitch Ratings has placed Sri Lanka Telecom PLC’s (SLT) National Long-Term Rating of ‘A(lka)’ on Rating Watch Positive (RWP) reflecting the potential rating upside due to weakening linkages with SLT’s parent, the government of Sri Lanka (Long-Term Local-Currency Issuer Default Rating: CC), due to the government’s plan to sell its 49.5% stake in the company. […]
Innovative Digital Marketplace to Help Sri Lanka’s Small Businesses
To expand the reach of small and medium enterprises (SMEs), including women-owned small businesses, the International Finance Corporation (IFC) is supporting the Commercial Bank of Ceylon (CBC) launch a digital marketplace in Sri Lanka, helping business owners connect with more customers locally and abroad. Named Commercial Bank LEAP, this one-of-its-kind initiative, which is supported under […]
Sri Lanka’s First-Ever Agripreneur Conference to be Organised by Sri Lanka Agripreneurs’ Forum
Sri Lanka Agripreneurs’ Forum (SLAF) in collaboration with Hatton National Bank (HNB), and MBA Alumni Association of the University of Colombo (MBAAA) organizes the first-ever conference for agripreneurship in Sri Lanka, The Agripreneur Conference 2023 under the theme of “empowering agripreneurs for a world of abundance”. It will be held on the 30th of March […]
Sri Lanka’s exports decreased by 8-pct to USD 1Bn in Feb 2023 compared to Feb 2022
Sri Lanka’s merchandise exports decreased by 8.06 % to US$ 1,005.2 Million in February 2023 compared to February 2022 as per the data released by Sri Lanka Customs. However, it is a 5.62% increase when compared to February 2021. Table 1: Merchandise Export Performance Values in US$ Mns Exports of Goods Jan-Feb 2022 […]
Govt increasing tax burden on poor and working people on IMF conditions but not taxing capitalists: Eran
Oppositions MP Eran Wikramaratne has alleged that there is a bizarre situation in the implementation of the agreement with the International Monetary Fund, as the tax burden on the poor and working people was imposed even before the implementation of the IMF conditions. According to the report, the taxation of capitalists has been delayed until […]