Category: Banking and Finance
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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)’.
WISTA hosts Karen Leong for keynote on transformative leadership
In a rapidly evolving world marked by technological advancements, geopolitical uncertainties, shifting customer expectations, and significant workplace transformations, the need for transformative leadership has never been more critical. The Women’s International Shipping & Trading Association (WISTA) Sri Lanka, celebrating its 10th anniversary, is set to address these pressing challenges with a significant event titled ‘Charting […]
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Fitch Ratings has assigned Hatton National Bank PLC’s (HNB, A(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to LKR12 billion a final National Long-Term Rating of ‘BBB+(lka)’. The final rating is the same as the expected rating assigned on 4 April 2024 and follows the receipt of documents conforming to information already […]
Sri Lanka CCPI based headline inflation up by 2.4-pct in July 2024
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100) was recorded at 2.4 percent in July 2024. Inflation continued to remain below the targeted level of 5 percent even after this acceleration. Food inflation (Y-o-Y) accelerated marginally to 1.5% in July 2024 from 1.4% in June 2024. […]
Central Bank of Sri Lanka publishes its inaugural market operations report
The Central Bank of Sri Lanka (the Central Bank) released its inaugural Market Operations Report (MOR) with the aim of enhancing awareness and knowledge among the stakeholders on monetary operations carried out by the Central Bank in line with the prevailing monetary policy stance. The MOR would be a catalyst to improve transparency and accountability […]
Signing of MoU between ACCA and the CSE to increase financial literacy in Sri Lanka
The Association of Chartered Certified Accountants (ACCA) and the Colombo Stock Exchange (CSE) signed a Memorandum of Understanding (MoU) recently to establish a partnership aimed at enhancing financial literacy and professional development in Sri Lanka. This collaboration intends to offer ACCA educational courses via CSE branches, which will entail a Capital Market Module; co-brand the […]
Thilak Piyadigama takes the helm at WEBXPAY
In a strategic move towards advancing digital payment solutions in Sri Lanka, WEBXPAY welcomes Thilak Piyadigama, a veteran with over three decades of experience in banking and technology, as its new Executive Chairman. Piyadigama is set to lead WEBXPAY into a new era of digital payment innovation, with a focus on enhancing financial inclusion and […]
ComBank’s Green Bond framework receives milestone SPO from Sustainable Fitch
The Commercial Bank of Ceylon has received a globally – recognised Second-Party Opinion (SPO) for the Bank’s Sustainable Bond Framework from Sustainable Fitch, the Fitch Solutions company that provides Environmental, Social and Governance (ESG) related ratings. The SPO is a third-party validation aligned with the International Capital Markets Association (ICMA) Green Bond Principles 2021. Receipt […]
Unlocking Economic Potential: Why Debt Restructuring Alone Won’t Suffice Without SOE Reforms
The Advocata Institute held a press briefing titled “Unlocking Economic Potential: Why Debt Restructuring Alone Won’t Suffice Without SOE Reforms” was held on the 17th of July,2024 at Lavender Hall, BMICH. The event brought together key speakers Shihar Aneez (Senior Financial Journalist), Rehana Thowfeek (Research Consultant to Advocata Institute), and Dhananath Fernando (CEO of Advocata […]
Seylan LKR 10Bn Debenture Issue oversubscribed on opening day
Seylan Bank, announced that its recent LKR 10Bn Debenture issue was oversubscribed on its opening day, with applications for over 100 million debentures, signalling strong investor confidence. The Bank issued an initial LKR 5 billion in Basel III-compliant, Tier 2, listed, rated, unsecured, subordinated, redeemable debentures. These debentures, priced at Rs. 100 each, have maturity […]
Orient Finance PLC Welcomes Daniel Alphonsus as Independent Non-Executive Director
Orient Finance PLC, a member of the Janashakthi Group, announces the appointment of Daniel Alphonsus as an Independent Non-Executive Director to the Company’s Board of Directors, effective from 5th of July 2024. Daniel spearheads Daraz’s payments, financial services, and digital goods divisions across South Asia. In addition, he serves on multiple economic reform committees for […]
Sri Lanka Clarifies Status of Continental Shelf Claim and Cobalt Exploration
The Sri Lankan Ministry of Foreign Affairs issued a statement addressing recent media reports concerning the country’s continental shelf claim and cobalt exploration efforts. The Ministry stated that recent media speculations about Sri Lanka ceding its rights are unfounded. Both matters are ongoing processes before separate UN bodies established by the UN Convention on the […]