Category:
”’/RWN
Fitch Ratings has downgraded Bank of Ceylon’s (BOC) Long- and Short-Term Foreign Currency (FC) Issuer Default Ratings (IDRs) to ‘RD’ (Restricted Default) from ‘CC’ and ‘C’, respectively. Fitch has also downgraded the Viability Rating (VR) to ‘f’ from ‘cc’, and removed the ratings from Rating Watch Negative (RWN). The rating actions are in accordance with […]
WSO2 Founder CEO Sanjiva Weerawarana receives 2022 IEEE TCSVC Research Innovation Award
WSO2, a leader in digital transformation technology, today announced that Dr. Sanjiva Weerawarana, WSO2 founder and CEO, is a recipient of the 2022 IEEE TCSVC Research Innovation Award. Each year, the IEEE Computer Society Technical Community on Services Computing (TCSVC) awards outstanding individuals and team efforts. The IEEE TCSVC Research Innovation Award recognizes individuals or […]
VIDEO: UK inflation hits 40-year high as food prices rise
Inflation is the bad news that keeps on coming. Today’s figures show that it has crept up again to just over 9 percent, the worst in four decades. But behind that headline number others even more alarming ones lurk – like a 32 percent increase in the price of petrol and double digits for staple […]
Indian Foreign Secretary and delegation visit Sri Lanka
The Foreign Secretary of India Vinay Kwatra arrived in Sri Lanka this morning on a one day visit related to the bilateral assistance provided to Sri Lanka by India in the current economic situation. The Foreign Secretary is accompanied by Secretary of the Department of Economic Affairs of the Ministry of Finance of India, Ajay […]
CA Sri Lanka launches Non-Financial Reporting Guideline to promote reporting practices among companies
In its standing as the sole authority to promulgate accounting and auditing standards in the country, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) on Wednesday launched the Non-Financial Reporting Guideline to strengthen and ensure fair and balanced corporate reporting among companies, while also promoting non-financial reporting practices amidst growing demands from […]
Pan Asia Bank ties up with Ria, world’s 3rd largest money transfer platform
As The Truly Sri Lankan Bank, Pan Asia Bank continues to add value to customer experience. In its latest customer-centric initiative, Pan Asia Bank is partnering with Ria Money Transfer, the US based third-largest remittance platform in the world, to offer its customers a wider choice of low-cost money transfer channels. With a worldwide network […]
Trillium Property Management ground breaks on USD 10Mn duplex apartment project
Trillium Property Management, a luxury apartment owner, developer, and operator, recently held the groundbreaking ceremony of its latest 60 upscale duplex (two stories) apartment project with exclusively designed 2 villas at at No:33, Lionel Edirisinghe Mawatha, Colombo 05. Chairman of Trillium Property Management Janaka Ratnayake graced the event, amidst a gathering of distinguished guests, including […]
Final report of Presidential Comm of inquiry on SL Customs, handed over to President
The final report of the Presidential Commission of Inquiry into Sri Lanka Customs was handed over to President Gotabaya Rajapaksa by Chairman of the Commission Supreme Court Judge Shiran Gunaratne at the President’s House, in Colombo Wednesday. A six-member Presidential Commission of Inquiry was appointed by an Extraordinary Gazette Notification on February 24, 2021 to […]
Finance Minister of India assures her fullest support to economic recovery process in Sri Lanka
Finance and Corporate Affairs Minister of India Nirmala Sitharaman assured the High Commissioner of Sri Lanka to India, Milinda Moragoda of her fullest support and cooperation in the process of economic recovery in Sri Lanka. The Finance Minister of India gave this assurance when High Commissioner Moragoda called on her on 21 June at the […]
Dhammika Perera enters Parliament
Sri Lankan businessman Dhammika Perera was sworn in as a Member of Parliament before the Speaker today representing the Sri Lanka Podujana Peramuna (SLPP) as a national list MP. “I handed over my asset declaration and tax clearance certificate to the Speaker today,” speaking to journalists Perera said. “I think the President will give me […]
Central Bank deploys new system to monitor foreign currency transactions
Recognising the need to implement a comprehensive cross-border transactions and domestic foreign currency transactions monitoring system as a key national priority, the Central Bank has implemented a new data collecting system known as the International Transactions Reporting System (ITRS) with the participation of Licensed Commercial Banks (LCBs) and Licensed Specialised Banks (LSBs). The ITRS is […]
NCPI based headline inflation increased to 45.3-pct in May
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index has increased to 45.3% in May 2022 from 33.8% in April 2022. This increase in Y-o-Y inflation was driven by the monthly increases of both Food and Non-Food categories. Accordingly, Food inflation (Y-o-Y) increased to 58.0% in May 2022 from […]