CCPI based Inflation decreased to 5.2% in April 2020
Economy News: Headline inflation as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100)1 declined to 5.2 percent in April 2020 from 5.4 percent in ...
Tag: Finance
Fitch Ratings downgrades Sri Lanka Insurance’s IFS to ‘B’; outlook negative
Fitch Ratings has downgraded Sri Lanka-based Sri Lanka Insurance Corporation Limited's (SLIC) Insurer Financial Strength (IFS) Rating to 'B' from 'B+'. The Outlook is Negative. SLIC's National IFS Rating was ...
Sri Lanka stands 61st from 66 countries in economic rankings due to COVID 19 crisis – The Economist
Economy News: According to a ranking released by the Economist this week, Sri Lanka's economy is among the worst affected by the present COVID 19 crisis. Sri Lanka stands at ...
Rupee appreciates to Rs 195.82 again
Financial News: The Sri Lankan rupee has appreciated to 195.82 against the US Dollar when compared with the previous selling rate of Rs. 200.46. The buying rate of a rupee ...
Central Bank extends deadline for submitting requests for debt moratoriums
Financial News: Sri Lanka’s Central Bank has extended the deadline (30.04.2020) for submitting requests for debt moratoriums and 4 percent per annum refinancing facility for two months working capital, until ...
Fitch affirms Hemas Holdings at ‘AA-‘; Outlook Stable
Financial News: Fitch Ratings has affirmed Sri Lanka-based consumer and healthcare company Hemas Holdings PLC's National Long-Term Rating at ‘AA-(lka)’ with a Stable Outlook. The affirmation reflects the limited vulnerability ...
SEC introduces 3-Tiered Circuit Breaker attached to S&P SL20
Economy News: The Securities and Exchange Commission of Sri Lanka has implemented a Three Tiered Circuit Breaker framework to be added to the S&P SL20 Index with a view to ...
Fitch downgrades SriLankan Airlines’ government guaranteed bonds to ‘B-‘
Financial News: Fitch Ratings has downgraded the rating on SriLankan Airlines Limited’s (SLA) USD175 million government-guaranteed 7% unsecured bonds due 25 June 2024 to ‘B-‘, from ‘B’. KEY RATING DRIVERS ...
Export earnings have decreased by nearly 42% in March 2020
Economy News: According to monthly exports statistics, merchandize export earnings have decreased by nearly 42% to US $ 646 Mn from US $ 1112 recorded in March 2019. Apparel sector ...
Fitch downgrades SriLankan Airlines’ government guaranteed bonds to ‘B-‘
Business News: Fitch Ratings has downgraded the rating on SriLankan Airlines Limited’s (SLA) USD175 million government-guaranteed 7% unsecured bonds due 25 June 2024 to ‘B-‘, from ‘B’. KEY RATING DRIVERS ...
Global coronavirus outbreak exacerbates Sri Lanka’s liquidity & external risks: Moody’s
Economy News: Sri Lanka (B2 review for downgrade) is facing simultaneous domestic and external shocks amid the global coronavirus outbreak, Moody’s Investors Service said in an issuer in-depth analysis. According ...
Central Bank reduce Sri Lanka’s growth forecast to 1.5-pct in 2020
Economy News: Central Bank expects Sri Lanka's real GDP growth to decelerate to around 1.5 percent in 2020 before the economy recovers to meet its anticipated potential in the medium ...
Central Bank of Sri Lanka Releases its Annual Report for the Year 2019
Financial News: In terms of Section 35 of the Monetary Law Act No. 58 of 1949, the seventieth Annual Report of the Monetary Board of the Central Bank of Sri ...
CBSL Impose a Maximum Interest Rates on Pawning Advances of Licensed Banks
Financial News: The Central Bank of Sri Lanka observes that the current interest rates charged by licensed banks on pawning advances range from 12% - 17.5% per annum. Considering the ...
ADB, AIM Launch Global Hackathon for Digital Ideas to Respond to COVID-19 Crisis
Economy News: The Asian Development Bank (ADB) and the Asian Institute of Management (AIM) today launched the #DigitalAgainstCOVID-19 virtual challenge to crowdsource digital solutions and ideas to help countries in ...
Government of Sri Lanka disagree with downgrading the ratings
Ill-Founded and Ill-Timed Rating Action by Fitch Ratings amidst the Worst Global Public Health Crisis for Decades Financial News: The Government of Sri Lanka finds the decision of the Fitch ...
Fitch downgrades Sri Lanka to ‘B-’; Outlook Negative
Economy News: Fitch Ratings today downgraded Sri Lanka’s sovereign rating predicting the economic shock from COVID-19 will further erode rising public and external debt sustainability. Full statement KEY RATING DRIVERS ...
WTO and IMF heads call for lifting trade restrictions on medical supplies and food
Financial News: As our members grapple with their response to the global health and economic crisis, we call for more attention to the role of open trade policies in defeating ...
Most Commodity Prices to Drop in 2020 As Coronavirus Depresses Demand and Disrupts Supply
Economy News: The global economic shock of the COVID-19 pandemic has driven most commodity prices down and is expected to result in substantially lower prices over 2020, the World Bank ...
Colombo Stock Exchange (CSE) to recommence trading on April 27
Financial News: The Colombo Stock Exchange (CSE) states that they will recommence trading on April 27, Monday. This subsequent to the statement that the Government has announced that the curfew ...
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