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Fitch affirms SriLankan Airlines’ government guaranteed bonds at ‘C’

Fitch Ratings has affirmed the rating on SriLankan Airlines Limited's (SLA) USD175 million government-guaranteed 7% unsecured bonds due 25 June 2024 …

We will support govt in reinstating previous tax regime & IMF reforms: Eran Wickramaratne

Statement on Sri Lanka Defaulting on Foreign Debt Payments by Eran Wickramaratne M.P., Former State Minister of Finance On 12 April 2022, Sri Lanka …

Transparency International presents 15 points on essential anti-corruption reforms to revive Sri Lanka

2022 has so far been a tumultuous year for Sri Lanka. With the country teetering dangerously close to defaulting, economists have noted that the …

Nine cabinet ministers sworn in before President

Nine new Cabinet Ministers of the All-Party Government were sworn in before President Gotabaya Rajapaksa at the President's House in Colombo this …

Sri Lanka rejects motion on alleged genocide adopted in Canadian Parliament

Sri Lanka notes with regret the adoption of a motion in the Canadian Parliament on the alleged genocide of Tamils in Sri Lanka and recognizing May 18 …

Sri Lanka’s current rating associated with 35-pct to 65-pct recovery rate: Moody’s

On 18 May, Sri Lanka (Ca stable) defaulted on its international bonds for the first time, after failing to make its coupon payments that were due on …

Fitch Downgrades Sri Lanka to ‘Restricted Default’

Fitch Ratings has downgraded Sri Lanka's Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to 'RD' (restricted default) from 'C'. Fitch …

CBSL issues order imposing LC deposit margin requirement for over 700 non-essential items

Sri Lanka's Central Bank has directed commercial banks with immediate effect that Letters of Credit (LCs) should not be opened for the importation of …

Central Bank warns Sri Lankans holding over 10,000 dollars as notes

Sri Lanka's Central Bank is planning to illegalize the holding of dollar notes by its citizens for longer periods, Governor Nandalal Weerasinghe …

Sri Lanka CB maintains policy rates

The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 18 May 2022, decided to maintain the Standing Deposit Facility Rate …

Cipla and SLCP mark World Asthma Day with charity cycle ride

As the WHO states asthma is a major non communicable disease characterized by recurrent attacks of breathlessness and wheezing. It often starts in …

Sri Lanka Purchasing Managers’ Index further declines in April 2022

Manufacturing PMI declined significantly in April 2022, following the seasonal pattern and indicating a contraction in manufacturing activities on a …

“Rajapaksa government does not support PM Wickremesinghe,” Eran in Parliament

SJB Parliamentarian Eran Wickramaratne said that although Prime Minister Ranil Wickremesinghe had proposed that a female be elected unopposed to the …

APTS prepares for its next phase of growth by strengthening its leadership team

Asia Pacific Technology Systems (APTS), an award-winning Information Technology Solutions provider in the region, is gearing for its next phase of …

South Asia Textiles commits to SBTi to limit global warming at 1.5°C

South Asia Textiles (SAT), a fully-owned subsidiary Hayleys Fabric PLC, also joined its parent company in committing to the Science-Based Targets …

Ceylon Chamber meets Party Leaders to discuss economic and political crises

The Ceylon Chamber of Commerce officials met with the leaders of several key political parties during the last 4 days to discuss the serious economic …

CSE consolidates gains on heavier trading volume

May 18, 2022 (LBO) - Colombo stocks consolidated gains after a recent sharp three day rally. Major indices finished down slightly on the day but are …

Colombo stocks roar, ASPI up 1000 points in 3 days on ‘Ranil Rally’

May 17, 2022 (LBO) - The stock market in Sri Lanka continued its surge for the third consecutive day, with the two major indices finishing up in the …