Category: Companies
Imperative for SOE Reforms in focus at Sri Lanka Economic Summit 2023
The second session of the Sri Lanka Economic Summit 2023 titled ‘SOE Reforms – Now or Never’ will focus on the imperative for SOE reforms, sharing invaluable insights into the ongoing SOE reforms and their potential impact on economic growth. The session will center around a deep dive into the transformation of large SOEs, their […]
”’, Removes RWN
Fitch Ratings has downgraded Sri Lanka-based Senkadagala Finance PLC’s (Senka) National Long-Term Rating to ‘BBB(lka)’ from ‘BBB+(lka)’. The Outlook is Stable. Fitch has also downgraded Senka’s subordinated debt rating to ‘BB+(lka)’ from ‘BBB-(lka)’, and removed the Rating Watch Negative (RWN) from all of Senka’s ratings. KEY RATING DRIVERS Weakened Asset Quality Drives Downgrade: Senka’s exposure […]
CSE creates awareness on Regulated Short Selling (RSS) through Stock Borrowing and Lending (SBL)
The Colombo Stock Exchange (CSE) conducted a series of virtual workshops and intends to continue more workshops on Regulated Short Selling (RSS) through Stock Borrowing and Lending (SBL), creating awareness on the two features to diverse groups of individuals. The virtual workshops are being conducted in Sinhala, English and Tamil with the intention of reaching […]
Privatisation is the need of the hour:Advocata
“At the interim budget last year, a list of SOEs reforms were provided to be restructured. 14 months later nothing has changed even in one SOE.”- Prof. Rohan Samarajiva, a policy expert and an advisor of the Advocata Institute. He made these comments at Advocata’s press briefing, organised to highlight the urgency of carrying out […]
‘ ratings; off RWN; Outlooks stable
Fitch Ratings has affirmed the support-driven National Long-Term Ratings of four Sri Lankan bank subsidiary finance and leasing companies (FLCs). The Outlooks are Stable. The four FLCs are: CBC Finance LTD (CBCF) at ‘BBB+(lka)’; HNB Finance PLC (HNBF) at ‘BBB+(lka)’; Siyapatha Finance PLC at ‘BBB+(lka)’; and UB Finance PLC (UBF) at ‘BB(lka)’. At the same […]
CSE integrates with TradingView to facilitate advanced charting via MyCSE
The Colombo Stock Exchange (CSE) is proud to announce the integration of TradingView Technical Charts which facilitates advanced charting via MyCSE portal, to enhance investor experience with effect from 06 th October 2023. TradingView is the leading global provider of advanced charting and analytical tools. The facility is available in two forms as in real-time […]
Lower global growth forecasts for 2023 and 2024: IMF
The World Economic Outlook October Update says global growth is forecast to slow from 3.5 percent in 2022 to 3.0 percent in 2023 and 2.9 percent in 2024. The projections remain below the historical (2000–19) average of 3.8 percent, and the forecast for 2024 is down by 0.1 percentage point from the July 2023 Update […]
CICT crowned best container terminal of its capacity in Asia for 7th consecutive year
Beats terminals in China, Indonesia and Thailand to win coveted AFLASaward in Under 4 million TEUs category Colombo International Container Terminals (CICT) has been declared the Best Container Terminal in Asia in 2023 in the Under 4 million TEUs category, winning the coveted title for the seventh consecutive year. CICT’s impressive triumph on the global […]
Eran exposes SL’s plight of human capital flight; Govt. not bringing any solution to preserve health sector
Eran Wickramaratne, Member of Parliament of the Samagi Jana Balavegaya, accused the government of not bringing any solution or alternative arrangements to preserve the health sector of the country as it asserts the right to life of the citizens. Though the health sector now faces a brain drain with increasing numbers of the sector fleeing […]
PwC Sri Lanka firms announce exit from PwC network, and their plans to join Deloitte network
The Sri Lanka firms of the PwC network have announced their decision to exit the network. The firms intend to join the Deloitte network, with effect from 28 October 2023. Further, it has been mutually agreed that PwC Sri Lanka will leave the PwC network as of 27 October 2023. The PwC network and the […]
Harsha proposes tax reforms to relieve burden on middle class and professionals
MP Harsha de Silva’s Tax Reform Proposal: Simplify PAYE tax structure and introduce surcharge.Surprising Revenue Figures: PAYE collection surpasses expectations, while PIT falls short.Inequality in Tax Burden: Current system disproportionately impacts middle-class professionals.MP’s Evidence-Based Approach: Proposed reforms aim to balance government revenue and reduce the tax burden.Combatting Tax Fraud: Efforts to address LKR 60 billion […]
Kasturi Chellaraja to join a global firm after resigning from Hemas Holdings
Hemas Holdings PLC, a leading Sri Lankan conglomerate, today announced the resignation of Ms. Kasturi Chellaraja Wilson from her position as Group Chief Executive Officer, effective 31st March 2024. Kasturi has been an integral part of the Hemas family for over two decades, having led several businesses within the Group before assuming the role of […]