Category: Banking and Finance

Tsunami-hit Sri Lanka has accepted a Paris Club offer to freeze its debt payments until the end of 2005, but plans to press lenders to extend the moratorium to the end of 2007, the island’s finance minister said on Friday.Tsunami-hit Sri Lanka has accepted a Paris Club offer to freeze its debt payments until the […]

Tsunami-battered Sri Lanka on Friday jumped at an offer by the world’s richest creditor nations to freeze its debt payments, but hardest-hit Indonesia was skeptical and said it would be of little help.Tsunami-battered Sri Lanka on Friday jumped at an offer by the world’s richest creditor nations to freeze its debt payments, but hardest-hit Indonesia […]

Indonesia and Sri Lanka, devastated by the tsunami disaster in late December, have been given a moratorium until December 31 on repayment of their debt owed to Paris Club members, the Paris Club said Thursday. Indonesia and Sri Lanka, devastated by the tsunami disaster in late December, have been given a moratorium until December 31 […]

The International Finance Corporation, the World Bank Group’s private sector arm signed agreements with John Keells Holdings to speed the delivery of relief supplies to tsunami victims in Sri Lanka, restore education and health facilities, and provide clean water to relief camps.The International Finance Corporation, the World Bank Group’s private sector arm signed agreements with […]

The International Finance Corporation, the World Bank Group’s private sector arm signed agreements with John Keells Holdings to speed the delivery of relief supplies to tsunami victims in Sri Lanka, restore education and health facilities, and provide clean water to relief camps.The International Finance Corporation, the World Bank Group’s private sector arm signed agreements with […]

The International Monetary Fund says Sri Lanka still has to plug a US $ 420 mn gap in external financing to maintain reserves around US $ 2 bn in 2005, while rising oil prices may expand the need further.The International Monetary Fund says Sri Lanka still has to plug a US $ 420 mn gap […]

Commercial Bank of Ceylon is actively exploring ways to reduce its pension liability after a u-turn in tax policy cost the group an additional Rs. 67 mn. Commercial Bank of Ceylon is actively exploring ways to reduce its pension liability after a u-turn in tax policy cost the group an additional Rs. 67 mn. With […]

Sustainability reporting is still Greek to most listed companies in Sri Lanka while non-listed companies don’t even have annual reports, shows a recent survey.Sustainability reporting is still Greek to most listed companies in Sri Lanka while non-listed companies don’t even have annual reports, shows a recent survey. A survey, by the Association of Certified Chartered […]

The Japanese government commits money to get electricity transmission in the North back on track and for agriculture development.The Japanese government commits money to get electricity transmission in the North back on track and for agriculture development. A loan of Rs 1.2 bn will go towards rehabilitating the Vavuniya – Kilinochchi electricity transmission line. “This […]

Two months after the tsunami, Sri Lanka has so far got less than 10 percent of its emergency aid requirement to rebuild devastated areas, despite an outpouring of international goodwill.Two months after the tsunami, Sri Lanka has so far got less than 10 percent of its emergency aid requirement to rebuild devastated areas, despite an […]

The World Bank is inviting non-governmental and civil society organisations to apply for grants for social accountability programmes. The World Bank is inviting non-governmental and civil society organisations to apply for grants for social accountability programmes. The World Bank Colombo Office is inviting non-governmental and civil society organizations in Sri Lanka to submit their applications […]

Commercial Bank of Ceylon retained its AA+ (sri) national rating for its implied long-term unsecured senior debt, from Fitch Ratings Lanka Ltd. Commercial Bank of Ceylon retained its AA+ (sri) national rating for its implied long-term unsecured senior debt, from Fitch Ratings Lanka Ltd. Fitch also affirms the AA (sri) rating assigned to the bank’s […]