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Fitch Ratings has downgraded Sri Lanka’s Long-Term Local-Currency (LTLFC) Issuer Default Rating (IDR) to ‘RD’ (Restricted Default) from ‘C’. The ratings on its local-currency bonds tendered in the domestic debt exchange have been downgraded to ‘D’ from ‘C’ while its other four local-currency bonds not tendered in the domestic debt exchange have been affirmed at […]
EPF accepts Debt Exchange offer after considering two options under DDO programme
The Monetary Board of the CBSL as the custodian of the EPF, having considered the two options available has decided to opt for the Debt Exchange offer with a long-term view in the best interest of the members of the Fund. Accordingly, the EPF has tendered Rs.2,667,512,169,237 face value of Treasury Bonds for Debt Exchange, […]
Civil Society Governance Diagnostic Report presents 34 governance benchmark recommendations
The Civil Society Governance Diagnostic Report on the Anti-Corruption Landscape of Sri Lanka introduces a comprehensive set of governance reform recommendations designed to address the root causes to the current crisis in the nation. This report, the result of an in-depth study, identifies and prioritises key aspects in governance that require systematic attention from both […]
SEC approves new Listing Board and Rules for SOEs
Capital market regulator, the Securities and Exchange Commission of Sri Lanka (SEC), has approved the creation of a separate Listing Board and Listing Rules at the Colombo bourse to facilitate the entry of State-Owned Enterprises (SOEs) to the Capital Market. This is in response to the Government’s policy to expedite reforms in SOEs, improve their […]
Opinion: From education to employment, Understanding the gender gap in the workforce
Thathsarani Siriwardana The issue of female labor force participation in Sri Lanka has remained a subject of discussion for several decades, yet tangible progress in improving it has been elusive. As the country grapples with its most severe economic crisis since gaining independence,it is important to take a hard look at our labour force to […]
Ceylon Chamber welcomes SVAT repeal deferment
The Ceylon Chamber of Commerce (CCC) expresses its appreciation to the Government and to the President in particular for the decision taken to postpone repeal of the SVAT scheme. The Bill provided to repeal the Simplified Value-Added Tax Scheme (SVAT) effective from January 1, 2024. This raised several concerns among various sectors, including exporters registered […]
Corporate Governance Awareness Session hosted by Compliance Forum of Finance Houses Ass concludes
The ‘Corporate Governance Awareness Session’ organized by the Finance Houses Association of Sri Lanka (FHA), the apex body of all registered Finance Ccompanies, was held at the Siyapatha Tower on the 11 th August 2023. Held in collaboration with the Central Bank of Sri Lanka (CBSL), the main objective of this event was to enhance […]
State Minister of Technology calls for comprehensive investigation into cyber attacks
State Minister of Technology, Kanaka Herath, has taken a decisive step today by officially requesting an investigation into a cyber attack that transpired on the 26th of August 2023. The Information and Communication Technology Agency (ICTA) and the Sri Lanka Computer Emergency Readiness Team (SLCERT) have been entrusted with the task of uncovering the details […]
Unveiling Trade Potential: An Ex-Ante Analysis of the Sri Lanka – Thailand FTA
Sri Lanka and Thailand are engaged in expedited negotiations for a free trade agreement (FTA), aiming to conclude the negotiations by early 2024. Both countries share a strong interest in expanding their trade ties, with Sri Lanka seeking preferential access to Thailand’s market and Thailand keen to tap Sri Lanka as a gateway to South […]
Ceylon Chamber of Commerce Advocates for Healthcare Reform and Patient Safety in Sri Lanka
The Ceylon Chamber of Commerce has taken a proactive stance in addressing critical issues within Sri Lanka’s healthcare sector, recognising the importance of patient safety, access to quality healthcare, and fostering industry growth. The Ceylon Chamber initiated a meeting with the Minister of Health Keheliya Rambukwella, and outlined a comprehensive plan of action to revitalize […]