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ICRA Lanka assigns AAA rating with stable outlook to National Savings Bank
Jun 24, 2019 (LBO) – ICRA Lanka Limited has assigned the issuer rating of [SL] AAA with stable outlook to National Savings Bank. Rationale The rating takes note of the 100% Government of Sri Lanka (GoSL) ownership, which provides a strong likelihood of sovereign support and, the 100% explicit guarantee provided by the Government of […]
200 MICE travelers from Chennai arrived Sri Lanka
Jun 24, 2019 (LBO) – SriLankan Airlines in an effort to improve tourism between India and Sri Lanka organized a MICE promotions activity by bringing in 200 travelers from Chennai last week. Accordingly, a group of travelers from Chennai arrived Sri Lanka in a fact-finding mission to promote Sri Lanka as a safe destination to […]
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Jun 24, 2019 (LBO) – Fitch Ratings has assigned Sri Lanka’s forthcoming US dollar bonds an expected rating of ‘B(EXP)’. The rating agency said the expected rating is in line with Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) of ‘B’ with a Stable Outlook. The firm added that the rating on the bonds would […]
Opinion: Understanding social media and conflict
By Samidh Chakrabarti, Director of Product Management, Civic Integrity; and Rosa Birch, Director of Strategic Response, Facebook At Facebook, a dedicated, multidisciplinary team is focused on understanding the historical, political and technological contexts of countries in conflict. Today we’re sharing an update on their work to remove hate speech, reduce misinformation and polarization, and inform […]
Opinion: Credit to Coomaraswamy – Sri Lanka is economically stable despite political/security challenges
June 24, 2019 (LBO) – Sri Lanka is set to tap the credit markets for the second time this year. A sovereign bond is to be floated at interest rates that are even more attractive than the recent US$2.5bn issuance in March. Timing is good. Interest rates in the United States have sharply dropped in […]
1990 Suwaseriya ambulance service now covers entire nation
Jun 23, 2019 (LBO) – The launch of the historic final step of expanding Sri Lanka’s pre-hospital emergency care revolution to the entire nation took place in Ampara district today under the patronage of the founder of the service, Economic Reforms Minister Harsha de Silva. Daya Gamage, Minister of Primary Industries and Social Empowerment and […]
Access Engineering (AEL) director sells Rs400mn worth of stock
June 22, 2019 (LBO) – Colombo Stock Exchange (CSE) listed Access Engineering (AEL) in a stock market disclosure reported that a non-executive director had sold a significant amount of his shares. Ranjan Gomez has sold 30,000,000 shares at a price of Rs13.2/share. Total proceeds from the sale of shares is approximately Rs400mn. As of March […]
Expolanka, HNB Assurance, Janashakthi, Melstacorp in new S&P Sri Lanka 20 Index
Jun 21, 2019 (LBO) – Colombo Stock Exchange (CSE) announces changes in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2019 mid-year index rebalance. Accordingly, Expolanka, HNB Assurance, Janashakthi Insurance, and Melstacorp have been included in the index while CTC, NTB, Richard Pieris and Tokyo Cement have been excluded. […]
University of Technology Sydney to open pathway college in Sri Lanka with USD2.1mn investment
Jun 21, 2019 (LBO) – Following the announcement this week that the University of Technology Sydney (UTS) has become the world’s 140th ranked university, in addition to being Australia’s number 1 ranked young university (under 50 years of age), it has confirmed it will open a pathway college in Sri Lanka. The pathway college, to […]
CICT voted best container terminal in Asia
Jun 21, 2019 (LBO) – The CMPort managed Colombo International Container Terminal (CICT), the only deep water terminal in the Port of Colombo, has been voted the best container terminal in Asia in the under four million TEUs category at the prestigious asian freight, logistics and supply chain (AFLAS) awards hosted and presented by asia […]
Samsung brings world’s first QLED 8K TV to Sri Lanka in partnership with Jaguar Land Rover
Samsung Sri Lanka today launched the world’s first QLED 8K TV in Sri Lanka in partnership with SML Frontier Automotive, sole agents for Jaguar Land Rover in Sri Lanka. The Samsung QLED 8K TV, a must-have for all luxury homes, comes with Real 8K Resolution, 8K AI Upscaling, Quantum Processor 8K, and Quantum HDR – […]
Moody’s cuts SL GDP forecast to 2.6-pct amid challenges of tourism, debt refinancing
Jun 20, 2019 (LBO) – Moody’s Investors Service have revised down their 2019 real GDP forecast to 2.6 percent from the previous estimate of 3.4 percent based on prospects for lower tourism arrivals and spending. Terrorist attacks of April 2019 will curb tourism, adding pressure to public and external finances, the firm said in their […]