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”’; Outlook stable
Fitch Ratings has affirmed Sri Lanka-based telecom company Dialog Axiata PLC’s National Long-Term Rating at ‘AAA(lka) with a Stable Outlook. This reflects our view that Dialog can maintain a credit profile commensurate with a ‘AAA(lka)’ rating in the next 12-18 months, despite slower revenue growth, escalated costs and likely slight higher leverage. Dialog’s rating is […]
Powering the future: Innovations driving electric vehicle revolution
New Energy Vehicles (NEV) are no longer a futuristic vision; they’re rapidly transforming the automotive landscape. This shift wouldn’t be possible without ground-breaking innovations that have addressed key challenges and made NEVs more efficient, safer, and sustainable. Leading the charge in these advancements is BYD, a company proving that electric mobility is not just feasible […]
Opinion: Tax-payers receive bill for SriLankan’s colossal losses: Advocata
The Minister of Aviation, Nimal Siripala de Silva, recently announced that the Government would take over 210 million in dollar loans and 41.4 billion in rupee loans borrowed by Sri Lankan Airlines from state-owned Bank of Ceylon and Peoples’ Bank. Sri Lankan Airlines is bankrupt. No buyer will be prepared to take on both a […]
SJB Parliamentarian Eran Wickramaratne resigns from COPE
COPE has been established to ensure the observance of financial discipline in Public Corporations and other Semi Governmental bodies in which the Government has a financial stake. By appointing a ruling party member as its Chairman, the committee fails to meet its objectives of keeping a check on the executive arm of the government. To […]
First LNG powered vessel calls at Hambantota International Port
The first LNG battery hybrid powered RORO vessel berthed at the Hambantota International Port (HIP) for the discharge of construction machinery and equipment (high and heavy vehicles including airport buses, mobile cranes, etc.). The transshipment cargo is destined for Dammam and Maldives. The Jasmine Leader of NYK Line, which arrived at HIP in the first […]
Ceylon Chamber calls for collaborative solutions on debt recovery framework
The Ceylon Chamber of Commerce is deeply concerned about the decision by the Cabinet of Ministers to temporarily suspend the parate execution law. While we understand that certain businesses essentially in the SME sector need to be supported in the current economic climate, providing that support in the form of curtailing credit recovery measures is […]
World Growth Outlook Improves, but Inflation Is Showing Persistence: Fitch Ratings
Near-term world growth prospects have improved and Fitch Ratings has raised its 2024 global GDP growth forecast by 0.3pp to 2.4% in its latest Global Economic Outlook (GEO) published today. This reflects a sharp upward revision to the US growth forecast to 2.1%, from 1.2% in the December 2023 GEO. The revision to the US […]
Selection Process for New IMF Managing Director Begins
The Executive Board of the International Monetary Fund (IMF) has initiated the selection process for its next Managing Director. The announcement was made by the Board Coordinators, Afonso S. Bevilaqua and Abdullah F. BinZarah. The Executive Board has decided to follow an open, merit-based, and transparent process for the selection, mirroring the procedure used in […]
IMF Called Upon by Human Rights Watch to Intervene in Sri Lanka’s Proposed NGO Law
Human Rights Watch (HRW) has called on the International Monetary Fund (IMF) to urge the Sri Lankan government to abandon draft legislation that could severely limit civil society and jeopardize the IMF’s program in the country. The proposed Non-Governmental Organizations (Registration and Supervision) Act is among several recent and planned measures that would curtail fundamental […]
CA Sri Lanka Members Chandrika Muhandiramge and Ranjani Joseph clinch top regional awards
Two female fellow members of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) brought honour to the nation and the local accounting fraternity earlier this month when they clinched top regional awards, outshining many other female accountants from South Asia. Chartered Accountant Ms. Chandrika Muhandiramge was bestowed with the prestigious “Lifetime Woman […]