Author: lbostgadmin
Power Purchase Agreement for 100 MW Ground Mount Solar Power Project in Siyambalanduwa
A power purchase agreement for the 100 MW Ground Mount Solar power project in Siyambalanduwa was signed by Rividhanavi (Pvt) Limited with CEB today. The project was advertised by the CEB for a competitive bidding process in September 2022, evaluated in 2023, and was awarded to the lowest & successful bidder at the end of […]
Hemas Holdings reports revenue growth of 10.3-pct in 2023/24 first nine months performance
Amidst the backdrop of relatively stable operating conditions in the domestic economy, Hemas Holdings PLC (HHL) demonstrated a steady performance in the first nine months of the financial year 2023/24, achieving a cumulative revenue growth of 10.3 percent amounting to Rs. 90.2 billion. Operating profits for the period mirrored the revenue growth, reaching Rs. 8.8 […]
Relaxation of restrictions imposed on standing facilities
The Central Bank of Sri Lanka introduced restrictions on the usage of the Standing Facilities by the Licensed Commercial Banks (LCBs) under the Open Market Operations (OMOs), with effect from 16 January 2023 Accordingly, access to the Standing Deposit Facility (SDF) was limited to a maximum of five (05) times per calendar month, while access […]
”; Outlook Stable
Fitch Ratings has assigned Sri Lanka-based Asia Asset Finance PLC a first-time National Long-Term Rating of ‘A+(lka)’ with a Stable outlook. Asia Asset Finance is a 72.9%-owned subsidiary of India-based Muthoot Finance Ltd (MFL, BB/Stable). Its core business is in gold-backed lending, similar to its parent. Asia Asset Finance has a small market share of […]
Patrick McNamara Joins the United States-Sri Lanka Fulbright Commission as Executive Director
The U.S. Embassy in Sri Lanka is pleased to announce Dr. Patrick McNamara, as the new Executive Director of the United States-Sri Lanka Fulbright Commission based in Colombo. U.S. Ambassador to Sri Lanka Julie Chung said, “We are so pleased to welcome Dr. Patrick McNamara as the new Executive Director of our United States-Sri Lanka […]
UNICEF welcomes commencement of amendments to Children & Young Persons Ordinance
UNICEF welcomes the long-awaited amendment to the Children and Young Persons Ordinance (CYPO) coming into force effective January 1, 2024, which marks a significant step towards protecting the rights and welfare of all children in Sri Lanka. The CYPO, a legislation governing justice for children in Sri Lanka since 1939, previously only covered those up […]
Online Safety Act: Transparency International Sri Lanka demands corrective action
Transparency International Sri Lanka (TISL) expressed its strong disapproval regarding the Sri Lankan government’s passage of the Online Safety Act, despite it lacking crucial amendments mandated by the Supreme Court. “We are appalled by the outrageous conduct of the Government, Parliament, Attorney General and the Speaker in signing off on a version of the Online […]
SEC Sri Lanka Introduces a Mechanism to Report Social Media Wrongdoings
With the rapid evolution of communication channels and the increase of social media influence in the financial markets, the Securities and Exchange Commission of Sri Lanka (SEC) recognized the need for proactive measures to identify and address potential social media wrongdoings that may impact investors and market stability. Considering these developments, the SEC has taken […]
Sri Lanka and World Bank sign USD150 mn deal to strengthen financial sector resilience
The Government of Sri Lanka (GOSL) and the World Bank signed an agreement for $150 million in financing for Sri Lanka to strengthen the resilience of the financial sector through the Financial Sector Safety Net Strengthening Project (FSSNP). In parallel, the project agreement between the World Bank and the Central Bank of Sri Lanka (CBSL) […]
UK strengthens response capabilities for marine pollution incidents in SL
A team of UK-based pollution response experts delivered the workshop “Working Towards Proactive Environmental Preparedness in Sri Lanka”, with Sri Lankan stakeholders including Government, Non-governmental Organisations and academia, between 27 and 30 November 2023. The workshop was delivered under the Ocean Country Partnership Programme (OCPP), a UK government-led programme funded through the Blue Planet Fund. […]
The Pekoe Trail profiled among “Top 20 Travel Destinations for 2024″
National Geographic announced their picks for BEST OF THE WORLD 2024, the brand’s annual guide of the most exciting, meaningful, and one-of-a-kind travel experiences for 2024. The Pekoe Trail, Sri Lanka was selected in the “Top 20 Travel Experiences” category. BEST OF THE WORLD 2024 was created, researched, reported, and written in collaboration with National […]
Australia & Sri Lanka signed AUD 30mn subsidiary arrangement to support improved governance
On 30 January 2024, Australia and Sri Lanka signed a 10-year subsidiary arrangement that commits an initial AUD 30 million (LKR 6.3 billion) over five years to support improved governance in Sri Lanka. Through a suite of programs, the arrangement supports the Sri Lankan government, nonprofit institutions and civil society to improve evidence-based policy and […]