Category: Industry
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 […]
SriLankan Airlines upgraded to “Diamond” standard in Health Safety audit
SriLankan Airlines the national flag carrier of Sri Lanka has been awarded “Diamond” Standard by the APEX Health Safety (Airline Passengers Experience Association) powered by SimpliFlying for the airline’s efforts in ensuring the highest standards of cleanliness and sanitization across its operations. Having previously being awarded the “Platinum” standard in January 2021 the airline was […]
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, […]
”’
Fitch Ratings has assigned Commercial Bank’s proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to LKR10 billion an expected National Long-Term Rating of ‘A(EXP)(lka)’. The debentures, which have maturities of five and seven years, will be listed on the Colombo Stock Exchange. The bank plans to use the proceeds to further strengthen its […]
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, […]
Opinion:Negative effects of organic manure for Sri Lanka’s entire tea industry
I.D. Gooneratne Former Director of J.E.D.B, III Regional Agricultural advisor to 20 tea estates Consultant, functioned as Deputy Director, Extension Services of the TRI Advisor, Tea Manufacturing, John Keells Ltd for 6 years. With my experience, based on 45 years of hands-on, direct experience in the tea industry, I wish to issue a dire warning […]
Plug & play ‘Park in park’ manufacturing facility at Hambantota Port Industrial Zone
The Hambantota International Port Group (HIPG) has partnered with Shenzhen Xinji Group to set up a plug-and-play ‘Park in park’ manufacturing facility within the port’s industrial zone. The concept is a fully-fledged stand-alone industrial facility with some very unique features, set to operate within the Hambantota International Port’s Industrial Zone. The signing of the joint […]
PUCSL publishes hotline for electricity complaints
Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator launches a hotline to address and resolve the electricity complaints online and requests the public and other stakeholders to use online and social media platforms to connect with officials without visiting the officials in premises. “Public Utilities Commission of Sri Lanka being the regulator […]
Captain Nihal Keppetipola assumes duties as new Chairman of Sri Lanka Ports Authority
Captain Nihal Keppetipola assumed duties as the 27th Chairman of the Sri Lanka Ports Authority yesterday (22.06.2021). On the instructions of President Gotabaya Rajapaksa, the appointment was made by the Minister of Ports and Shipping Rohitha Abeygunawardena. Capt. Nihal Keppetipola, a professional in the field of Merchant Shipping, served as the Managing Director of the […]
Travel restrictions to be relaxed from June 21st: Inter-provincial restrictions to remain
Inter-provincial travel restrictions to remain… Permission to conduct last rites on non-COVID 19 deaths within 24 hours… It has been decided to relax travel restrictions from 4 am on the 21st of June. However, President Gotabaya Rajapaksa instructed the officials not to relax the inter-provincial travel restrictions. Travel restrictions will be re-imposed and continue from […]