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SEC appoints two top professionals to drive its HR and Organisation Transformation agenda
The capital market regulator, Securities and Exchange Commission of Sri Lanka (SEC) has appointed two experienced and talented professionals to head its HR function and drive the institution’s organisation transformation agenda. The two positions are Director and Assistant Director of HR & Organisation Transformation. The new Organisation Transformation function augments the existing Human Resources department […]
AICPA & CIMA recognise 20 Top Employers in Sri Lanka
AICPA & CIMA, together as the Association of International Certified Professional Accountants, revealed the names of the most attractive companies for accounting and finance professionals in Sri Lanka in their 2024 Top Employers list. AICPA & CIMA’s Top Employers list was created to recognise companies, which proactively support the development of the accounting and finance profession in […]
Backbay Solar and Orbital Energy commissions 2-megawatt capacity solar plants in East
Backbay Solar (private) Limited commissioned 2-megawatt ground-mounted solar power plants in Kommathurai Batticaloa on Sunday 10th March 2024, which are a part of the 1X90 SBS II solar tender under the Ceylon Electricity Board. Backbay Solar is managed by Sino Lanka Power Gen, a leader in commercial rooftop solar installations with approximately 50MW of projects […]
Banks alarmed by suspension of parate process at behest of a few individual defaulters – SLBA
The unilateral decision by the government to suspend debt recovery via parate laws is a knee-jerk response to intense lobbying by a few individual defaulters that do not represent the wider business community, and will have a far-reaching negative impact on the banking sector, which functions as the heart and lifeblood of the economy, the […]
New Secured Transactions Registry to Help Expand Financing for Small Businesses in Sri Lanka
Small and medium enterprises (SMEs) in Sri Lanka are set to benefit from the newly established Secured Transactions Registry (STR), which aims to facilitate the use of moveable assets as collateral for loans while ensuring financial stability and fostering economic growth in the country. With technical assistance from the International Finance Corporation (IFC), the new […]
SEC Calls for a More Active Unit Trust Industry
The Securities and Exchange Commission of Sri Lanka (SEC) as part of its continuous engagement process with stakeholders in the capital market landscape, held a meeting with the CEOs of the Unit Trust industry last week. The main purpose of the meeting was to address the current state of the Unit Trust industry and urge […]
President Calls Opposition Leaders for a Crucial Meeting on IMF Proposals
President Ranil Wickremesinghe has convened a pivotal meeting with leaders of accepted political parties to discuss the proposals put forth by the International Monetary Fund (IMF) with its high-level delegation. In a proactive move, Leader of the Opposition Sajith Premadasa, leader of the National People’s Power (NPP) Anura Kumara Dissanayake, and Tamil National Alliance (TNA) […]
Red Sea Disruptions Benefit Shipping Companies’ Near-Term Profitability: Fitch Ratings
Global shipping companies’ short-term profitability will benefit from increased freight rates, which exceed the costs of re-routing following persistent attacks on commercial vessels in the Red Sea, Fitch Ratings says. We do not expect structural shifts in the shipping sector as a result of these disruptions. Nearly half of all cargo ships and tankers have […]
CA Sri Lanka forum unites experts to explore solutions and debate challenges on SOE restructuring
Stepping up in its standing as the National Body of Accountants and as a leading professional body, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) took the initiative to bring together experts to focus on the highly debated restructuring process of State-Owned Enterprises (SOEs). The enlightening forum, held on 04 th March […]
”; Outlook remains negative
lbo.lk,lbo Fitch Ratings has affirmed Abans Finance PLC’s National Long-Term Rating at ‘BBB+(lka)’. The Outlook remains Negative. KEY RATING DRIVERS Shareholder Support Underpins Rating: Abans Finance’s rating is driven by our expectation that its major shareholder, Abans PLC (AA-(lka)/Stable), would provide extraordinary support to Abans Finance, if required. Our expectation stems from Abans’ position as […]