Category: Economy and Markets
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Fitch Ratings has downgraded Sri Lanka’s Long-Term Local-Currency (LTLFC) Issuer Default Rating (IDR) to ‘RD’ (Restricted Default) from ‘C’. The ratings on its local-currency bonds tendered in the domestic debt exchange have been downgraded to ‘D’ from ‘C’ while its other four local-currency bonds not tendered in the domestic debt exchange have been affirmed at […]
EPF accepts Debt Exchange offer after considering two options under DDO programme
The Monetary Board of the CBSL as the custodian of the EPF, having considered the two options available has decided to opt for the Debt Exchange offer with a long-term view in the best interest of the members of the Fund. Accordingly, the EPF has tendered Rs.2,667,512,169,237 face value of Treasury Bonds for Debt Exchange, […]
SEC approves new Listing Board and Rules for SOEs
Capital market regulator, the Securities and Exchange Commission of Sri Lanka (SEC), has approved the creation of a separate Listing Board and Listing Rules at the Colombo bourse to facilitate the entry of State-Owned Enterprises (SOEs) to the Capital Market. This is in response to the Government’s policy to expedite reforms in SOEs, improve their […]
Opinion: From education to employment, Understanding the gender gap in the workforce
Thathsarani Siriwardana The issue of female labor force participation in Sri Lanka has remained a subject of discussion for several decades, yet tangible progress in improving it has been elusive. As the country grapples with its most severe economic crisis since gaining independence,it is important to take a hard look at our labour force to […]
Ceylon Chamber welcomes SVAT repeal deferment
The Ceylon Chamber of Commerce (CCC) expresses its appreciation to the Government and to the President in particular for the decision taken to postpone repeal of the SVAT scheme. The Bill provided to repeal the Simplified Value-Added Tax Scheme (SVAT) effective from January 1, 2024. This raised several concerns among various sectors, including exporters registered […]
CSE to introduce Regulated Short Selling through Stock Borrowing & Lending to enhance trading opportunities
The Colombo Stock Exchange (CSE) is pleased to announce the introduction of two significant initiatives shortly, Regulated Short Selling (RSS) through Stock Borrowing and Lending (SBL), which are aimed at enhancing trading opportunities and flexibility for investors. In this regard, the CSE conducted an awareness session on RSS and SBL, to the institutional and high […]
SEC Announces Enhanced Corporate Governance Rules
The Securities and Exchange Commission of Sri Lanka has announced revisions to Corporate Governance Rules applicable to entities listed on the Colombo Stock Exchange with effect from 1st October 2023. High standards of Corporate Governance with accountability and transparency are critical to building investor confidence in the capital market and is therefore a priority […]
Ceylon Chamber Urges Government to Reconsider SVAT Abolition
The Ceylon Chamber of Commerce is urging the Government to reconsider its recent decision to abolish the Simplified Value Added Tax (SVAT) system given the impact it will have on the functioning of the export industry. This comes at a critical time when Sri Lanka has seen a significant dip in exports of over 10% […]
You will find many surprises in the next budget: President
Sri Lanka’s President Ranil Wickremesinghe, who is also the Finance Minister, told Parliament yesterday that there will be many surprises in the next budget. He was responding to a query made by the Chairman of the Committee on Public Finance Harsha de Silva on DDO. “Don’t go to the company that is making unconscionable profits […]
Driving evidence based policy reforms that enhance women’s economic participation and empowerment
Advocata Institute held the “Women’s Policy Action Network” (WPAN) conference recently to put forward Advocata’s continuous and WPAN’s research on the gaps, barriers and potential solutions for further enhancing women’s economic empowerment in Sri Lanka. The primary aim of the WPAN is to lobby for evidence-based policy reforms that support greater labour force participation of […]
‘You think less of your country than I do’ – Mo Gawdat on Sri Lanka
Cinnamon Hotels and Resorts hosted Mo Gawdat, the former Chief Business Officer of Google X and Best-selling author, at Cinnamon Lakeside Colombo last week to enlighten a Sri Lankan audience of IT specialists, businessmen, professionals, and corporates on the future of Artificial Intelligence. As an entrepreneur with a 30-year career in technology, he gave […]
Agarapatana Plantations Ltd debuts trading on the CSE
The shares of Agarapatana Plantations Limited (CODE: AGPL-N-0000) commenced trading on the Colombo Stock Exchange (CSE) on 04 th September 2023. The shares have been listed on the Diri Savi Board of the CSE under the Food, Beverage & Tobacco sector. The occasion was marked with a special Bell Ringing Ceremony. The company’s Initial Public Offering (IPO) for 83,070,111 ordinary voting shares has been oversubscribed […]