India and Sri Lanka share ties dating back thousands of years spanning history, culture, trade and commerce. In recent years, the two neighbours have accelerated mutual economic cooperation in a manner that has opened unprecedented opportunities for Sri Lankan businesses to access an $3.7 trillion Indian economy. A key turning point in the economic cooperation…
Out of the total domestic spends on debit cards, the share of in-store spending is 7 times that of ecommerce. Last holiday season saw over 20% growth in Visa debit transactions vis-à-vis 2022 Visa (NYSE: V), the global leader in digital payments, today announced that Visa debit card spends saw a significant increase of over…
For the fiscal year 2022/23 (April to March), tax concessions resulted in a total of LKR 978 billion in foregone revenue, the government reported yesterday (31 March). The foregone revenue amounts to 56% of the total tax revenue collected by the government in 2022. This was highlighted by PublicFinance.lk, Sri Lanka’s premier economic insights platform,…
Chinese President Xi Jinping met PM Dinesh Gunawardena in Beijing last week & remembered the historic affinity & especially the spirit of the 1952 Rubber Rice pact signed before establishing diplomatic relations in 1957. He wished the ancient friendship to move forward with consolidated mutual trust, expanded practical cooperation, & advanced high quality Belt &…
In the landscape of modern mobility, a quiet revolution is underway, reshaping how we navigate our lives and interact with our environment. New Energy Vehicles (NEVs), a category encompassing electric vehicles (EVs), plug-in hybrid electric vehicles (PHEVs) and other alternative options, are emerging as the vanguard of sustainable living. These automobiles herald a future where…
By Chaya Dissanayake and Rashmi Anupama The growing demand for Electrical Vehicles will boost the demand for both synthetic and natural graphite, particularly non-Chinese graphite, with the introduction of the US’ Inflation Reduction Act (IRA). High-quality Sri Lankan vein graphite, certified as environmentally sustainable with the “green” label, will solidify its standing in the global…
Sri Lankans in coastal areas learning at temples entered ‘Scholar-hal’ (Schools) during the Portuguese rule. Class room education introduced by St. John Baptist De LaSalle of France (Patron saint of Teachers) continued with the Dutch & the British as a violence control tool but those marginalized (due to caste & class etc.) got exposed to…
Fitch Ratings – The majority of APAC banking jurisdictions are set to take the latest global iteration of Basel capital standards in their stride, says Fitch Ratings. Banking groups in most APAC markets have been able to absorb the moderate increases in capital requirements required under the final Basel III standards, due to prevailing conservative…
Latest Mood of the Nation Survey Shows Increase in Negative Outlook The approval rating of the government fell from 9% in October 2023 to 7% in February 2024, according to the latest round of the Gallup style ‘Mood of the Nation’ poll of Verité Research. The survey showed that only 9% rated the current economic…
Mario Gooneratne, CEO of LinearSix, Naleen Edirisinghe, CEO of Pan Asia Bank and Gerald Wanigaratne, Chief Information Officer of Pan Asia Bank 1. How would you define Digital Banking? Mario: Digital banking is a transformative financial approach that leverages technology to provide seamless, accessible, and efficient banking services by automating all or most processing functions…
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