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Gravely concerned about looming economic crisis in Sri Lanka: Bar Association
The Bar Association of Sri Lanka (BASL) calls upon the government to seek the assistance of acknowledged independent and non-partisan experts both domestically and internationally and also of multilateral institutions that have a proven record of providing resources financially as well as in the form of technical expertise that will enable sustainable solutions to the […]
Opinion: Why marketers need to be empathetic now than ever
By Thanzyl Thajudeen As leading marketers, we have lately been focusing much of our efforts towards data, digital and the metaverse. We have more channels, content, and technology we need today to reach our potential customers, but this has unfortunately led us to cultivate a mindset of treating them as mere numbers and transactions rather […]
Sri Lanka’s Sovereign Foreign Debt: To Restructure or Not?
By Dr. Dushni Weerakoon: Sovereign debt restructuring can be pre-emptive or post-default. A default is inherently costly as it can result in a sustained loss of access to capital markets. That leaves pre-emptive restructuring when a country deems itself unable to service outstanding debt. The complex creditor landscape of today though makes governments reluctant to […]
S&P downgrades Sri Lanka; Central Bank disputes
Sri Lanka’s Central Bank says that S&P’s assessment to downgrade the rating has clearly failed to recognise the recent progress made by the Government and the CBSL in securing foreign exchange inflows to meet the government’s forthcoming debt obligations. Standard and Poor’s has downgraded Sri Lanka to ‘CCC’ from ‘CCC+’ with the outlook negative.
Hela Apparel Holdings IPO oversubscribed on opening day
The initial public offering (IPO) of shares of Hela Apparel Holdings Limited (Hela Clothing), one of the largest IPOs ever in Sri Lanka, received an overwhelmingly positive response, being oversubscribed within hours of the offer opening on the 12th of January 2022. Having successfully raised LKR 4 billion in equity capital for Hela Clothing, the […]
Second phase constructions of Eastern Container Terminal at Colombo Port commenced
The construction work of the second phase of Eastern Container Terminal at the Colombo Port commenced this morning (12) under the patronage of the President and Prime Minister.Construction works of the terminal, which will be conducted in three phases, are scheduled to be completed in 2024.The Terminal which is spread over an area of 75 […]
Opinion: Repay foreign debt or finance essential imports
By Chair of our Academic Programme and former Economic Adviser at the World Bank, Dr. Sarath Rajapatirana, and our Senior Research Fellow, and former Director of CBSL, Dr. Roshan Perera The available foreign reserves of the country can be used to either repay foreign creditors or to finance imports of essential goods and services required […]
Fitch Ratings Now Forecasts Two Fed Rate Hikes This Year, Four in 2023
Fitch Ratings expects the Fed to raise rates twice in 2022 and four times in 2023, taking the Fed funds rate (upper bound) to 1.75% by end-2023 from 0.25% currently. Fitch’s updated US interest rate forecasts reflect the major pivot by the Fed at its policy meeting on 14-15 December 2021, prompted by evidence that […]
SIR PONNAMBALAM ARUNACHALAM (1853-1924)
On the 98th Death Anniversary which falls on January 9, 2022 Compiled by Sega Nagendra and Suresh Murugaser, great grandchildren of Sir P. Arunachalam FAMILY Ponnambalam Arunachalam was the youngest Son of Gate Mudaliyar A. Ponnambalam. He was born on September 14, 1853, to a highly respected and a well-educated professional family originally from Manipay, […]
How Samsung foldables are defining the future of smartphone innovation
When Samsung Electronics revealed its first prototype of a flexible display back in 2011, few people realized they were witnessing a glimpse into the mobile industry’s future. Now, a decade later, Samsung has shipped 4 times more foldable devices in 2021 than in 2020, exceeding the three-fold market growth that analysts expected. Consumer enthusiasm for […]
Hela Apparel Holdings prepares for upcoming IPO on 12th Jan
The initial public offering of Hela Apparel Holdings Limited (the holding company of the Hela Clothing Group) is set to open on the 12th of January 2022. The IPO has gathered significant interest from institutions, high net-worth individuals and retail investors. Hela Apparel Holdings Limited is offering 267,108,998 ordinary voting shares to the public at […]
SriLankan Airlines reports a net Profit in December 2021
SriLankan Airlines reports a Company Profit of USD 9.25 million and a Group Profit of USD 10.66 million for December 2021, which is the first profitable month for the Airline since the onset of the Pandemic in early 2020. The revenues are up by almost 200% compared with the same period last year and has […]