Category:
‘s credit profile reflects ongoing liquidity &’s
Aug 30, 2019 (LBO) – Moody’s Investors Service says in a new report that the credit profile of Sri Lanka (B2 stable) reflects ongoing government liquidity and external vulnerability risks. Key credit challenges include large borrowing requirements, with a high reliance on external funding, and low foreign exchange reserves coverage of forthcoming economy-wide external debt […]
‘s
Aug 30, 2019 (LBO) – Moody’s Investors Service says in a new report that its negative outlook for Sri Lanka’s banking system is driven by weak operating conditions and deteriorating asset quality, as a slow recovery in the tourism and related sectors are resulting in subdued economic growth. “Tourist arrivals declined sharply following the Easter […]
Sri Lanka prepares to pioneer USD50Mn fully-fledged Ocean University
Aug 30, 2019 (LBO) – Sri Lanka’s state-run job skilling apparatus, the Technical, Vocational Education Training (TVET) sector, is now poised to receive the largest project funding in its history. Once agreements are finalized, a 50 million US dollars worth facility is set to spawn a fully-fledged Ocean University in Sri Lanka. Also nine new […]
Disaster risk resilience: key to protecting vulnerable communities
By Armida Salsiah Alisjahbana The past five years have been the hottest on record in Asia and the Pacific. Unprecedented heatwaves have swept across our region, cascading into slow onset disasters such as drought. Yet heat is only part of the picture. Tropical cyclones have struck new, unprepared parts of our region and devastatingly frequent […]
William Penn announces its launch in Sri Lanka
Penndome Sri Lanka, announces its brand launch in Sri Lanka of the William Penn brand. The brand offers a wide portfolio of products in premium writing instruments & stationery including men’s accessories and corporate gifts. The company boasts of exclusive tie-ups of over 50 world renowned brands such as Sheaffer, Hugo Boss, Moleskine, Caran d’Ache, […]
JKH trades above book value despite dull trading at the CSE
August 28, 2019 (LBO) – Stocks in Sri Lanka are continuing a streak of relatively dull trading with average daily turnover for the last 8 trading days hovering around Rs500mn (US$3mn) at the Colombo Stock Exchange (CSE). Foreign investor participation has been low, with negligible net foreign buying or selling. Foreigners have generally been net […]
Opinion: The Capital Market Cure
By the Prince of Kandy: The Monetary Board in conjunction with the Central Bank is busy creating a policy to create systems whereby there is a better transmission of monetary policy. The situation has become quite dire as the Central Bank seems to have lost control over interest rates. This is most evident in the […]
Sri Lanka Prime Minister to visit Maldives
Aug 27, 2019 (LBO) – Sri Lanka’s Premier Ranil Wickremesinghe will undertake an official visit to the Maldives on 2nd September 2019, on an invitation extended by Ibrahim Mohamed Solih, President of the Republic of Maldives. During the visit, the two leaders will engage in discussions relating to all aspects of the bilateral relationship to […]
Simmering ethno-religious tensions in Sri Lanka must not be ignored, says UN rights expert
Aug 26, 2019 (LBO) – Simmering ethno-religious tensions in Sri Lanka require urgent action by the authorities to strengthen respect for freedom of religion or belief in Sri Lanka, says UN Special Rapporteur on freedom of religion or belief Ahmed Shaheed. “There is a serious deficit of trust among ethno-religious communities in Sri Lanka following […]
Allianz Lanka appoints Nihal Handunge as Deputy CEO for Life Insurance arm
The board of directors of Allianz Lanka recently announced the appointment of Nihal Handunge as the Deputy CEO for Allianz Life Insurance Lanka Limited. With this new appointment, Handunge will take the responsibility of overseeing the growth strategy of the business along with the overall management responsibility of Allianz Lanka’s Life operations in Sri Lanka. […]
Sri Lanka eco summit to discuss SOE reform implementation weaknesses
Aug 26, 2019 (LBO) – Sri Lanka’s State-Owned Enterprises (SOEs) has been the topic of debate for many years now. Discussions around it have covered improving profitability, service and governance while examining the root causes for the continued losses incurred by SOEs. Some of the solutions for reforms are well known, but its implementation has […]
‘s most powerful AI processor
Aug 26, 2019 (LBO) – Huawei officially launched the world’s most powerful AI processor, the Ascend 910 as well as an all-scenario AI computing framework, MindSpore. “We have been making steady progress since we announced our AI strategy in October last year,” said Eric Xu, Huawei’s Rotating chairman. “Everything is moving forward according to plan, […]