Category: Industry
”’; Maintains negative watch
Fitch Ratings has downgraded Co-operative Insurance Company PLC’s (CICPL) National Insurer Financial Strength (IFS) Rating to ‘BBB(lka)’ from ‘A-(lka)’ and maintained the Rating Watch Negative (RWN) following the recent sovereign downgrade and recalibration of the agency’s Sri Lankan national rating scale. The recalibration is to reflect changes in the relative creditworthiness among Sri Lankan issuers […]
MAS announces joint venture with Tata Group’s Trent Ltd in India
MAS Amity Pte. Ltd., a subsidiary of MAS Holdings, signed a joint ventureagreement with Tata Group’s Trent Ltd, setting up an entity in India for the joint development of business into intimate wear and other apparel related products. Over time, MAS and Trent would pool their domain expertise to undertake design, development and manufacturing of […]
Sri Lanka agrees in principle on a renewable energy framework with India
India’s External Affairs Minister Dr. S. Jaishankar today announced that Sri Lanka and India have agreed in principle on a renewable energy framework. Dr. Jaishankar said that India will encourage greater investments in the Sri Lankan economy, especially in core areas like energy, tourism, and infrastructure, and count on the Government of Sri Lanka to […]
Sri Lanka – United Kingdom Chamber of Commerce holds first AGM
The Sri Lanka – UK Chamber of Commerce held its first Annual General Meeting at the Sri Lanka High Commission in London on 12 January 2023 under the patronage High Commissioner of Sri Lanka to the United Kingdom Saroja Sirisena. The Sri Lanka – UK Chamber of Commerce was launched on 26 October 2021 in […]
‘ ratings; Maintains RWN
Fitch Ratings has downgraded the National long-term ratings of five Sri Lankan finance and leasing companies (FLCs) after the recent sovereign downgrade and recalibration of the agency’s Sri Lankan National Rating scale. The FLCs’ ratings remain on Rating Watch Negative (RWN). The downgrades follow similar action on 10 Sri Lankan banks. (For details, see “Fitch […]
Delegation of UAE investors visits Port City
A delegation of investors from the United Arab Emirates, led by His Royal Highness Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum, visited Port City Colombo on the 14 th of January 2023, during a special visit to Sri Lanka for the purpose. Discussions were held between the members of the delegation, representatives from the […]
Milinda Moragoda discusses priority areas for cooperation with India’s national security advisor
Sri Lanka’s High Commissioner to India Milinda Moragoda met with the National Security Advisor of India Shri Ajit Kumar Doval, on 16 January and discussed matters pertaining to India-Sri Lanka relations. The discussion focused on mutual strategic interests of the two countries and priority areas for cooperation. The meeting took place as part of the […]
Ombudsmen of Sri Lanka and Türkiye signs bilateral cooperation MoU
On the sidelines of the International Ombudsman Conference 2023, the Office of the Parliamentary Commissioner for Administration (Ombudsman) of Sri Lanka and Ombudsman Institution of Türkiye has entered into Memorandum of Understanding (MoU) recently in Ankara. The Memorandum of Understanding between the Office Ombudsman of Sri Lanka and Ombudsman Institution of Türkiye was signed in the presence […]
SLT-MOBITEL revolutionises customer experiences with launch of mAgent initiative
Echoing its leadership in revolutionising customer experiences with innovative, sustainable solutions, SLT-MOBITEL, The National ICT Solutions Provider, announced the launch of ‘mAgent’, an exclusive first-of-its-kind frontline service deployed to assist customers from across Sri Lanka through personalised service at their doorstep. With the launch of mAgent, both Fixed and Mobile users will be able to […]
Fitch downgrades National Long-Term Ratings of 10 Sri Lankan banks
Fitch Ratings has downgraded the National Long-Term Ratings of 10 Sri Lankan banks following the recent sovereign downgrade and recalibration of the agency’s Sri Lankan national rating scale. The recalibration is to reflect changes in the relative creditworthiness among Sri Lankan issuers following Fitch’s downgrade of Sri Lanka’s Long-Term Local Currency Issuer Default Rating (IDR) […]
Courtyard By Marriott Debuts In Sri Lanka With The Opening Of Courtyard By Marriott Colombo
Courtyard by Marriott, part of Marriott Bonvoy’s extraordinary portfolio of 30 brands, today announced the opening of Courtyard By Marriott Colombo, making it the first Courtyard to open in Sri Lanka. Located at the heart of the city’s central business district adjacent to the Colombo City Centre Mall, Courtyard by Marriott Colombo is set to […]
Establishment of an export-oriented petroleum refinery in Hambantota
The Cabinet of Ministers has approved a proposal presented by the Minister of Power and Energy to call for expressions of interest to select a suitable investor for the establishment of a petroleum refinery near Hambantota. It has been identified that there is a high potential for the establishment of an export-oriented petroleum refinery and […]