Category: Economy and Markets
Dialog Axiata Launches Milestone 4,000th Network Tower in Thihawa
Reiterating its commitment to expanding connectivity to every corner of the nation, Dialog Axiata PLC, the widest network in Sri Lanka, launched its 4,000th network tower in Thihawa village, Kurunegala, to further expand coverage to rural communities in the area. In its continued efforts to expand coverage and support customers during these unprecedented times, Dialog […]
Sri Lanka restricts outward remittances for 6 months to preserve foreign exchange position
With a view to assist and maintain the financial system stability by minimizing the pressure on the exchange rate and preserving the foreign currency reserve position of Sri Lanka, the Finance Minister with the recommendation of the Monetary Board of the Central Bank and the approval of the Cabinet has issued an Order under Section […]
Colombo Stock Exchange Signs MoU with CHEC Port City Colombo
The Colombo Stock Exchange (CSE) and CHEC Port City Colombo signed a Memorandum of Understanding (MoU) to enhance the capital markets in Sri Lanka by taking advantage of the Port City Colombo’s special emphasis of the Colombo International Financial Center, in order to establish a regionally recognized financial exchange within the country’s borders. The MoU […]
Vish Govindasamy elected as Chairman of Ceylon Chamber of Commerce
The Ceylon Chamber of Commerce elected Mr. Vish Govindasamy as its Chairman during the Chamber’s 182nd Annual General Meeting on Tuesday (29). Mr. Govindasamy succeeds Dr. Hans Wijayasuriya who completed his 2-Year Term as Chairman at the culmination of the Annual General Meeting. Mr. Vish Govindasamy serves in the capacity of Managing Director of Sunshine Holdings PLC, […]
Chamber Academy to host webinar on Revision of Forex Regulations & its Implications
The Chamber Academy, the knowledge arm of the Ceylon Chamber of Commerce has joined hands with Hutchison Telecommunications Lanka (Pvt) Ltd and London Stock Exchange Group – Sri Lanka to host a timely webinar on the recent revisions of foreign exchange regulations. The virtual discussion will aim to brief the private sector on the new […]
WindForce Accredited by IESL to Train Graduate Engineers
WindForce Ltd., the pioneers of renewable energy in both Sri Lanka and other countries across the globe, has just been approved by the Institution of Engineers Sri Lanka (IESL) as a training organisation for graduate engineers for corporate membership in electrical engineering. As corporate training is an essential part of the local curriculum to qualify […]
Pressure on Sri Lankan Corporate Ratings from Finance Subsidiaries’ Growth: Fitch Ratings
Sri Lankan rated corporates with financial-service (FS) subsidiaries face a rise in Fitch-adjusted debt and potential rating pressure due to the subsidiaries’ medium-term asset growth in the current weak operating environment, Fitch Ratings says. Fitch’s corporate rating criteria deconsolidates the FS subsidiary from the parent in calculating the parent’s credit metrics. However, for FS operations […]
Post-Pandemic future; jobs in the pharma industry are evolving
By Sri Lanka Chamber of the Pharmaceutical Industry Pharmaceutical companies are witnessing changes in operations across the board, and events brought about by the pandemic have compelled pharmaceutical companies to reimagine the role of its medical pharmaceutical representatives, to better adapt to the new rules of engagement. In Sri Lanka, there are currently over 3500 […]
PM Mahinda meets with Omani investors
Prime Minister Mahinda Rajapaksa met with an Omani investors delegation from Shumookh Investment and Services SAOC which is the investment arm of Madayn – The Public Establishment for Industrial Estates of the Sultanate of Oman, at Temple Trees on 21 June, 2021 in Colombo. The Omani delegation comprised of Ambassador of Oman to Sri Lanka Al-Sheikh Jumah Hamdan Al-Shehhi, […]
Central Bank expects at least USD 1.4bn inflows to Sri Lanka by August
While there may be short-term fluctuations in foreign reserves in the period ahead due to debt servicing of the Government, adequate financing strategies have been lined up to maintain reserves at sufficient levels, through inflows to the country, Governor of the Central Bank, Professor W D Lakshman said. Releasing a statement, he said that inflows […]
Risks for Sri Lankan Banks May Rise on End of Restriction on ISB Investments: Fitch Ratings
The end of the suspension on Sri Lankan banks’ investments in international sovereign bonds (ISBs) issued by the Sri Lanka sovereign (CCC) has the potential to increase banks’ exposure to sovereign and foreign-currency funding and liquidity risks, says Fitch Ratings. Banks’ credit profiles are already significantly exposed to the sovereign, with Fitch-rated Sri Lankan banks […]
Creating an inclusive National Tourism Policy for SL: Transforming sector one question at a time
Mapping the future of the tourism sector in Sri Lanka is vital for the country’s economic recovery post COVID-19. In line with this, the Ministry of Tourism initiated a process to develop a National Tourism Policy for Sri Lanka early this year. The outlines of the policy have been discussed with the Ministry of Tourism, […]