Category: Economy and Markets
Merchandize exports reached USD 13Bn in 2022
Merchandise exports have increased by 4.6% to US$ 13,070.6 Million in 2022 compared to the corresponding period of 2021, Sri Lanka Customs data showed. Earnings from the merchandise exports, however, decreased by 9.7% y-o-y to US$ 1,044 Mn in December 2022, as per the data released by Sri Lanka Customs. This was mainly due to […]
CA Sri Lanka to create history in the Middle East with inaugural conference for Accountants
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) which stakes claim for organising the biggest annual business summit in Sri Lanka, is set to create history in the Middle East as it plans to host its very first conference in the region targeting Accounting Professionals including Chartered Accountants. The power packed […]
Hatch partners with HDFC Bank to provide exclusive credit facility for community of startups
In a one of a kind collaboration; Hatch, the award winning co-working space, start-up incubator and accelerator is partnering with HDFC Bank as their official banker, to give its community of startups access to an exclusive loan facility, the benefits of which will support these startups in strategically growing their business in the face of […]
Central Bank maintains tight monetary policy stance to rein in inflationary pressures
The Monetary Board of the Central Bank has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 14.50 percent and 15.50 percent, respectively. The Board, having noted the recent and expected developments and projections on the domestic and global […]
Tianjin Port Group and Huawei announce deepening cooperation to build digital twin of port
Tianjin Port Group and Huawei announced this week that the two companies will deepen cooperation to build a digital twin of the port, making it more automated and intelligent. Yang Jiemin, Vice President of Tianjin Port Group, explained that this plan consists of three parts: Construction of new automated terminals, upgrading of traditional terminals, and […]
EDB Launches Export Performance Indicators 2021
Sri Lanka Export Development Board presents its flagship statistical publication “Export Performance Indicators 2021”. The latest edition provides statistical information related to Sri Lanka’s external trade and its contribution to major economic indicators such as trade balance, GDP and individual sectoral involvement for the year 2021 and five preceding years. This volume is the 35th […]
CFA Society SL and CSE train financial literacy ambassadors from state universities
The Colombo Stock Exchange (CSE) and the CFA Society Sri Lanka wish to appoint “Financial Literacy Ambassadors” from state universities in Sri Lanka and to conduct a training session on financial literacy for them on 26th January 2023, from 9.00 am to 12.00 noon at the CSE Auditorium in Colombo. This is in line with […]
”’; Maintains negative watch
Fitch Ratings has downgraded Co-operative Insurance Company PLC’s (CICPL) National Insurer Financial Strength (IFS) Rating to ‘BBB(lka)’ from ‘A-(lka)’ and maintained the Rating Watch Negative (RWN) following the recent sovereign downgrade and recalibration of the agency’s Sri Lankan national rating scale. The recalibration is to reflect changes in the relative creditworthiness among Sri Lankan issuers […]
MAS announces joint venture with Tata Group’s Trent Ltd in India
MAS Amity Pte. Ltd., a subsidiary of MAS Holdings, signed a joint ventureagreement with Tata Group’s Trent Ltd, setting up an entity in India for the joint development of business into intimate wear and other apparel related products. Over time, MAS and Trent would pool their domain expertise to undertake design, development and manufacturing of […]
We expect that all bilateral creditors are dealt with equally: S Jaishankar
External Affairs Minister of India Dr. S. Jaishankar says that they extended financing assurances to the IMF to clear the way for Sri Lanka to move forward with the expectation that this will not only strengthen Sri Lanka’s position but ensure that all bilateral creditors are dealt with equally. Speaking to journalists in Colombo on […]
Sri Lanka – United Kingdom Chamber of Commerce holds first AGM
The Sri Lanka – UK Chamber of Commerce held its first Annual General Meeting at the Sri Lanka High Commission in London on 12 January 2023 under the patronage High Commissioner of Sri Lanka to the United Kingdom Saroja Sirisena. The Sri Lanka – UK Chamber of Commerce was launched on 26 October 2021 in […]
‘ ratings; Maintains RWN
Fitch Ratings has downgraded the National long-term ratings of five Sri Lankan finance and leasing companies (FLCs) after the recent sovereign downgrade and recalibration of the agency’s Sri Lankan National Rating scale. The FLCs’ ratings remain on Rating Watch Negative (RWN). The downgrades follow similar action on 10 Sri Lankan banks. (For details, see “Fitch […]