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Last Updated = Sat, May 28, 2022, 12:11 pm SL Time

* Dialog Axiata Ranked Sri Lanka’s Most Valuable Brand by Brand Finance for the 4th Consecutive Year

May 28 (CP) Colombo- Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, has had the distinction of being accorded the title, ‘Sri Lanka’s Most Valuable Brand’ for the fourth consecutive year by Brand Finance, the world’s leading independent brand valuation consultancy, at the 19th edition of its annual review.
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* Hela Apparel Holdings completes landmark year of growth and consolidation

May 27 (CP) Colombo- Amidst a host of global and local challenges, Hela Apparel Holdings PLC recorded a landmark year of growth in FY 2021/22, with revenue increasing by 75% to LKR 56 billion.
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* ComBank enables Senkadagala Finance to be first local finance co. to activate EMV 3DS on Visa cards

May 27 (CP) Colombo- The Commercial Bank of Ceylon has enabled Senkadagala Finance PLC to become the first finance company in Sri Lanka to activate EMV 3DS fraud prevention technology in the authentication of Visa card transactions of the latter’s customers.
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* Fitch downgrades Singer Finance, places four Sri Lankan finance and leasing companies on RWN

May 26 (CP) Colombo- Fitch Ratings has downgraded Singer Finance (Lanka) PLC’s (SFL) National Long-Term Rating to ‘A-(lka)’ from ‘A(lka)’ and placed the rating on Rating Watch Negative (RWN). Fitch Ratings has also placed the National Long-Term Ratings of three other Fitch-rated Sri Lankan finance and leasing companies (
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* Sri Lanka PM trying to fast-track IMF talks

May 26 (Bloomberg) Colombo- Sri Lanka is looking to fast-track talks with the International Monetary Fund and agree on a loan by mid-June so that it can then approach other lenders for urgently needed funds.
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* Bankrupt Sri Lanka still seeking more oil and fuel imports

May 26 (Bloomberg) Bankrupt Sri Lanka is seeking more energy imports as it tries to get an International Monetary Fund Program in place by mid-June. The South Asian nation is grappling with rampant inflation and shortages of everything from gasoline to food amid its worst economic crisis in a generation.
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* COPE recommends a PSC to inquire into those responsible for current economic crisis

May 25, Colombo: The Chairman of the parliamentary Committee on Public Enterprises (COPE) Prof. Charitha Herath today recommended that a Parliamentary Select Committee (PSC) be appointed to inquire into the causes of the current economic crisis as well as all those involved, including officials who have neglected their responsibilities that led to the crisis.
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* Prime Minister Ranil Wickremesinghe sworn in as Finance Minister

May 25 (CP) Colombo- Sri Lanka’s Prime Minister Ranil Wickremesinghe has been sworn in as the new Minister of Finance, Economic Stability and National Policies. The Prime Minister took oaths before President Gotabaya Rajapaksa at the President’s House in Colombo this morning (25), President’s Media Division said.
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* Sri Lanka’s prime minister says he will slash expenditure in new budget

May 25 (Reuters) - Sri Lanka’s new Prime Minister Ranil Wickremesinghe said on Tuesday he will present an interim budget within six weeks, slashing infrastructure projects to re-route funds into a two-year relief programme for the crisis-hit island nation.
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* Sri Lanka shares end flat as industrial losses offset consumer gains

May 27 (Reuters) - Sri Lankan shares were unchanged at close on Friday, with gains in consumer staples offset by losses in industrial stocks, as the country battles a debilitating economic crisis.
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* Fitch says losses from Sri Lanka’s riots manageable for insurers

May 27 (CP) Colombo- Fitch Ratings says Sri Lanka’s state-owned National Insurance Trust Fund Board’s (NITF, A+(lka)/Rating Watch Negative) Strike, Riot, Civil Commotion and Terrorism (SRCCT) fund will bear the brunt of losses stemming from recent riots in the country, with primary insurers experiencing little impact.
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* Alumex awarded as an Integrated Reporting Leader in Asia

May 27 (CP) Colombo- Sri Lanka’s largest aluminium extrusion manufacturer Alumex PLC was recently recognized for its strong commitment towards transparency and governance at the Asia Integrated Reporting Awards.
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* Dialog-SLESA All-Island Free Fire Esports Championship 2021 takes gaming to new heights

May 26 (CP) Colombo- To further support the growth of Esports in Sri Lanka, Dialog Axiata PLC, Sri Lanka’s premier connectivity provider and the official sponsor of the Sri Lanka National Esports team, has joined hands with the Sri Lanka Esports Association (SLESA) to power the inaugural edition of the ‘DIALOG-SLESA All-Island Free Fire Championship’ which is set to take place from 7th of June 2022.
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* IMF Staff concludes virtual mission to Sri Lanka, reaffirms commitment to support in line with IMF’s policies

May 26 (CP) Washington, DC- An International Monetary Fund (IMF) team, which conducted a virtual mission with the Sri Lankan authorities from May 9-24 on an economic program that could be supported by an IMF lending arrangement has concluded its virtual mission.
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* AkzoNobel honors students of City School of Architecture at Color Awards 2021-2022

May 26 (CP) Colombo- AkzoNobel Paints Lanka (Pvt) Ltd., in partnership with the City School of Architecture (CSA), honored the winners of the Color Awards 2021-2022 at the CSA Graduation & Awards Ceremony held recently at the BMICH. A partnership initiated four years ago by the producer of Dulux paints in Sri Lanka
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* Sri Lanka’s Central Bank implements new measures to support the Banking Sector

May 26 (CP) Colombo- The Central Bank of Sri Lanka, considering the prevailing macroeconomic conditions and its impact on the banking sector, has decided to implement new regulatory measures to support the banking sector to facilitate effective financial intermediation and the flow of credit to the economy, whilst ensuring the soundness of the banking sector.
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* U.S and John Keells promote competitiveness in Sri Lanka’s micro, small, and medium sized enterprises

May 25 (CP) Colombo- The U.S. and John Keells Holdings are partnering to strengthen small businesses in Sri Lanka through an agreement to connect Keells suppliers with private business advisory service providers, a U.S. Embassy statement said.
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* BPPL secures US$ 15 million of long-term funding from the U.S. International Development Finance Corporation

May 25 (CP) Colombo- Sri Lanka’s plastic recycling capabilities and infrastructure are set to soar with BPPL Holdings PLC, the country’s pioneer in the field, securing long-term funding of US$ 15 million from the United States International Development Finance Corporation (DFC).
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* World Bank not planning to offer new financing to Sri Lanka, repurposing from approved projects

May 25 (CP) Colombo- The World Bank on Tuesday said it is not planning to provide any new financing to Sri Lanka until an adequate economic policy framework is in place. Issuing a statement, the global lender said recent media reports have inaccurately stated that the World Bank is planning support for Sri Lanka in the form of a bridge loan or new loan commitments
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* Sri Lankan shares end lower as industrials weigh

May 25 (Reuters) - Sri Lankan shares ended slightly lower on Wednesday, dragged by industrial stocks, with the crisis-hit nation scrambling to put an economic policy framework and secure a bailout.
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