Category: Economy and Markets
SANASA Development Bank to raise capital via a Secondary Public Offering
SANASA Development Bank has resolved to raise capital through the issuance of new Ordinary Voting Shares to the public via a Secondary Public Offering (SPO), the bank said in a stock exchange filing. The SPO under consideration constitutes of an invitation to the public, by way of a Prospectus, to subscribe up to Sixty Eight […]
CBB sets sights on enhanced SL-UK trade with British Chambers of Commerce
The Council for Business with Britain (CBB) is now a member of the British Chambers of Commerce and marked this collaboration with an open networking event. The virtual gathering titled ‘The Power of a Global Network’ gave CBB members and other businesses across Sri Lanka a platform to connect with over 50 Regional Chambers of […]
Veemansa Initiative webinar to discuss new developments at Colombo Port City
Asia’s newest landscape, the Colombo port city, is to be launched as a special economic zone under the aegis of the Colombo Port City Economic Commission. The scope, incentive structure and the institutional setup of this special economic zone which was gazetted recently will be the theme of the webinar of “Asia’s Newest Landscape” which […]
Govt has no intention to tarnish its unblemished debt service record, CBSL clarifies reports
The Government has no intention to tarnish its unblemished debt service record by delaying the settlement of maturing debt obligations, the Central Bank clarified. The clarification came after a newspaper today publishing a report of a planned delay in settlement of dues on SLDBs and foreign currency loans obtained by the Government from domestic banks. […]
Strengthening recycling identified as immediate solution to plastic waste issue
AIESEC Sri Lanka hosts webinar on plastic waste management in view of recycling day CEA emphasizes need to adopt a collaborative approach to addressing the issue Only 20% of the plastic waste in the market reach recyclers Strengthening recycling practices and systems identified as key In view of Global Recycling Day, youth organization AIESEC Sri […]
Ceylon Electricity Board to raise up to Rs. 20Bn in capital through stock market
The Colombo Stock Exchange (CSE) has approved an application by the Ceylon Electricity Board (CEB) to issue Senior Unsecured Listed Redeemable Rated Debentures at an Issue Price of Rs. 100 amounting to a potential capital raising of up to Rs. 20 Billion. The debentures will be issued for period of 5 years with a fixed […]
SLSI commends Hemas Hospitals as first hospital in SL to obtain COVID-19 Safety Certification
The National Standards Authority, Sri Lanka Standards Institute (SLSI) commends leading private healthcare provider Hemas Hospitals, as the first hospital in the country to obtain the COVID-19 Safety Certification. The SLSI established the Certification Scheme to ensure that an organisation and its stakeholders, through its activities, products, and services, are safeguarded from the risks of […]
Colombo Consumer Price inflation increased to 4.1-pct in March with low base effect
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index increased to 4.1 percent in March 2021 from 3.3 percent in February 2021. This was due to the statistical effect of the low base prevailed in March 2020, the Statistics Department said. Meanwhile, Food inflation (Y-o-Y) increased to 9.6 percent […]
‘s IPO draws Rs 25.7Bn worth applications
The WindForce Limited Initial Public Offering (IPO) of Rs.3.2 Bn, the largest IPO announced at the Colombo Stock Exchange (CSE) since 2011, has attracted applications amounting to a value of Rs 25.7 Bn, demonstrating the strong appetite for IPOs among investors in the Sri Lankan stock market. The company’s IPO for 202,615,341 shares at an […]
‘s first co-working space dedicated to mindfulness at work
Sri Lanka’s first coworking space dedicated to mindfulness at work, HomeTree Coworking, aims to re-invent pre-pandemic work culture by focusing on consciousness, community and co-creation in the new normal. Elaborating on HomeTree’s mantra for 2021, founder Semal Luthra noted that their vision was to re-invent how people work, create and connect in a post-pandemic world. […]
Fitch Ratings no longer provides ratings or analytical coverage of Ceat Kelani Holdings
The international credit rating agency, Fitch Ratings said that they no longer provide ratings or analytical coverage of Ceat Kelani Holdings. In a response to the publication of the private rating letter by Kelani Tyres PLC on 26 March 2021, the rating agency said that the previous rating was expired on 1 March 2021. Fitch […]
South Asian economies bounce back but face fragile recovery: World Bank
Prospects of an economic rebound in South Asia are firming up as growth is set to increase by 7.2 percent in 2021 and 4.4 percent in 2022, climbing from historic lows in 2020 and putting the region on a path to recovery. But growth is uneven and economic activity well below pre-COVID-19 estimates, as many […]