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CBSL expects 5-pct GDP growth in 2021; inflationary pressures to be addressed with policy intervention
The Monetary Board of the Central Bank has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 4.50 percent and 5.50 percent, respectively. According to the Central Bank, the economy is likely to have recorded a higher than expected […]
SL Retailers’ Association urges for relief measures from PM
Sri Lanka Retailers Association (SLRA), the apex body of Sri Lanka’s Organised Retail Sector (ORS) consisting of last mile retailers, met Prime Minister Mahinda Rajapaksa on June 30 to address the issues and difficulties they are faced with due to COVID pressures in the country. Representatives of SLRA also requested Prime Minister to institute relief […]
SriLankan Airlines to resume flights to Moscow
SriLankan Airlines the National Carrier of Sri Lanka and a member of the oneworld alliance resumes flights to the Russian capital, Moscow. SriLankan’s new service will operate a weekly scheduled flight between Colombo’s Bandaranaike International Airport (BIA) and Moscow’s Domodedovo Airport (DME) from 30th July 2021. Accordingly, SriLankan would commence its flights to Russia every […]
Issue of Commemorative Coins to Mark 100th Anniversary of Communist Party of China
The Central Bank of Sri Lanka (CBSL) has issued gold and silver commemorative coins of Rupees 1,000, each with same depiction, to mark 65th Anniversary of diplomatic relations between Sri Lanka and the People’s Republic of China and the 100th Anniversary of Communist Party of China. The coins have been issued at the request of […]
Opinion: A mistreated ocean’s cry for help
By Ceylon Fishery Harbour Corporation, Sri Lanka Navy and Eco Spindles In the last decade, Sri Lanka has mismanaged 1.59 million metric tons of plastic waste yearly that ultimately finds its way to the ocean. Seven out of the 12 Indian Ocean rim countries are significant plastic polluters, Sri Lanka included. The recent MV X-Press Pearl […]
‘s Central Bank inching towards taper tantrum: First Capital Research
First Capital Research believes that there is a 95% probability for policy rates to remain unchanged at the next monetary policy meeting due to the measures taken by CBSL to stimulate the economy. CBSL either can choose to hold policy rates steady or hike by 25 bps while rate cut is off the table due […]
”’ National Rating
Fitch Ratings has assigned Ceat Kelani Holdings Pvt Limited (CKH) a National Long-Term Rating of ‘AA+(lka)’. The Outlook is Stable. CKH’s rating reflects its leading market position as one of the largest manufacturers and distributors of vehicle tires in Sri Lanka, and its strong financial profile. Fitch expects CKH’s cash to continue to exceed debt […]
Shangri-La appoints JLL as exclusive leasing agent for One Galle Face Tower
In a first for the commercial real estate industry in Sri Lanka, the Shangri-La Group — one of the world’s premier developers, owners and operators of hotel and investment properties — has appointed JLL (NSYE: JLL) as its exclusive leasing agent for the One Galle Face Tower (OGFT), located in the heart of Colombo. With […]
PUCSL signs MOU with USAID’s youth employment and entrepreneurship project
The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator, signed a Memorandum of Understanding (MOU) with USAID’s youth employment and entrepreneurship project, YouLead recently providing professional qualification to 45,000 electricians. This initiative aims to channel joint efforts to support and upskill Sri Lankan youth in the electricity sector, and to encourage entrepreneurship […]
Rising interest rates; a lifeline for life insurers: First Capital Research
Life Insurers are expected to benefit from rising interest rates due to the higher investment returns as asset allocation in Life Insurance is skewed towards fixed income earning assets, First Capital Research said in a report. According to the Insurance Sector Report 2021, Govt. securities represents the main investment due to the regulatory requirement to […]
JAT Holdings announces forthcoming Initial Public Offering
JAT Holdings, Sri Lanka’s trusted industry leader in finishing and furnishing, recently announced the firm’s intention to enter an Initial Public Offering (IPO) on the 20th of July 2021. Prior to the IPO, JAT Holdings will host a virtual forum scheduled for the 08th of July 2021, extending its invitation to the public to partake […]
‘ Credit Profiles: Fitch Ratings
Sri Lankan banks’ performance in 2020 and 1Q21 exceeded Fitch Ratings’ initial expectations, thanks to stimulus and regulatory relief measures. However, we believe risks to the banks’ performance and operating environment remain, due to pressures stemming from Covid-19 and the sovereign credit profile. Sri Lankan banks’ loan growth in 2020 dipped below historical averages due […]