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Women in Management, IFC and Government of Australia recognise inspiring women from Sri Lanka and Maldives
The ‘Top50’ Professional and Career Women Awards 2021 – hosted by Women in Management (WIM), in collaboration with Women in Work, a partnership between IFC and the government of Australia – recently honoured inspiring professional and career women in Sri Lanka and Maldives making a mark in their respective fields. The 11th edition of the […]
‘s INSEE Cement and IUCN partner to support biodiversity conservation
Siam City Cement Group (SCCC Group) and the International Union for Conservation of Nature (IUCN) extended their partnership for another three years by formalizing a new Memorandum of Understanding (MoU) recently to support the implementation of the INSEE Sustainability Ambition 2030 targeting Net Positive Impact (NPI) on biodiversity at sites where SCCC Group operates. The […]
Term of Small Tea & Rubber Estate Revitalization Loan Program extended
A rural finance program has been implemented during the period 2019-2021 for revenue generation and market diversification of targeted beneficiaries under the Small Tea and Rubber Estate Revitalization Project funded by the International Monetary Fund for Agricultural Development. Due to the Covid 19 epidemic situation, the project has not been able to achieve the expected […]
Leading German importer urges agri-product exporters to practice superior packaging to capture European markets
Jan Paul Bethke, a leading German importer of Sri Lankan fruits and tea, urged Sri Lankan agri-product exporters to practice effective and superior packaging if they are to be successful in terms of capturing markets in Europe. “If you package your product well, include a QR code (incorporating extensive details such as the farmer who […]
Sri Lanka pays USD 500mn sovereign bond matured today: CB Governor
The Governor of Sri Lanka’s Central Bank Ajith Nivard Cabraal states that Sri Lanka has paid the USD 500 million sovereign bond that matured today (18). Meanwhile, Fitch Ratings has downgraded Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CC’, from ‘CCC’.
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Fitch Ratings has downgraded Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CC’, from ‘CCC’. Fitch typically does not assign Outlooks or apply modifiers for sovereigns with a rating of ‘CCC’ or below. Related: S&P downgrades Sri Lanka; Central Bank disputes
We hope to transform ICT & BPM businesses into USD 3bn export sector soon, President assures Parliament
Transforming future Sri Lanka into a technologically driven country, the government hopes to transform ICT / BPM businesses into a USD 3 billion export sector soon, addressing the Parliament, President Gotabaya Rajapaksa said. Ceremonially opening the 2nd Session of the 9th Parliament on Tuesday he said that the Government is using state-of-the-art technology in the […]
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 […]