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INSEE extends waste management services to BOI for next 16 years
Jun 25, 2019 (LBO) – After a decade of operations with the BOI, INSEE Ecocycle Lanka, the waste management subsidiary of INSEE Cement recently signed an agreement, extending its waste management services to BOI for the next 16 years. BOI Chairman Mangala Yapa, INSEE Cement Chairman Nandana Ekanayake and Director of INSEE Ecocycle Sanjeewa Chulakumara […]
Sri Lanka successfully launches USD bond with over 3 times oversubscription
Jun 25, 2019 (LBO) – Sri Lanka returned to the US dollar bond markets, successfully pricing a new issuance of 500 million dollars 5-year and 1.5 billion dollars long 10-year bonds with over three times over subscription. The Central Bank said the final orderbook stood at over 1.8 billion dollars across 165 accounts for the […]
Comm Bank commences acceptance of LankaPay-JCB cards
Jun 25, 2019 (LBO) – Sri Lanka’s Commercial Bank of Ceylon has become one of the first banks in Sri Lanka to have its point-of-sale (POS) network accept LankaPay-JCB (Japan Credit Bureau) co-branded cards issued under the national card scheme programme. This follows the integration of Commercial Bank and the LankaPay Common POS Switch System […]
Hyrax Oil lubricant blending plant declared open in Muthurajawela
Jun 24, 2019 (LBO) – Prime Minister Ranil Wickremesinghe declared open the Hyrax Oil lubricant blending plant in Muthurajawela today. The is the second of its kind which has been built outside Malaysia by Hyrax Oil with a 30 million US dollar investment. The plant is a Build, Operate and Transfer (BOT) investment and the […]
Sri Lanka launches its National Card Scheme
Jun 24, 2019 (LBO) – The Central Bank of Sri Lanka together with LankaClear (LCPL) achieved a significant milestone in the country’s payment landscape by launching the National Card Scheme (NCS). The Central Bank said in a statement that the NCS will be operated by LCPL in partnership with the international payment card operator JCB […]
”s proposed senior unsecured USD bonds
Jun 24, 2019 (LBO) – Moody’s Investors Service has today assigned a B2 rating to Sri Lanka’s proposed senior unsecured US dollar-denominated bonds. The rating is based on the preliminary offering memorandum received on 19 June 2019, Moody’s said in a statement. The bonds will rank pari passu with the Government of Sri Lanka’s current […]
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 […]