Stocks surge in signal of strengthening investor confidence Adani Group companies witnessed a significant surge in their stock prices, rising up to 7 percent in early trading on January 16, 2025, following the announcement that Hindenburg Research, the controversial US-based short-selling firm, would cease operations. The news is a notable turning point for the conglomerate,…
The Central Bank of Sri Lanka and the People’s Bank of China, in December 2024, successfully renewed the Bilateral Currency Swap Agreement signed in 2021, for a period of another three (03) years, under the terms and conditions stipulated in the original agreement. The CNY 10 billion (approximately USD 1.4 billion) currency swap facility reflects…
The Sri Lanka Economic Summit organised by The Ceylon Chamber of Commerce will host a session focused on “Maximising Tourism Potential,”, exploring strategies to position Sri Lanka as a leading global destination, on 29 January at the Shangri La Hotel, Colombo. Discussions will focus on how Sri Lanka can achieve the goal of USD 8.5…
The Colombo Stock Exchange (CSE) and the National Commodity and Derivatives Exchange (NCDEX) of India, recently signed a Memorandum of Understanding (MoU) to collaborate and explore the development of derivatives and commodity products in Sri Lanka. This partnership will enhance the product offering and trading instruments at CSE. The collaboration will involve knowledge-sharing initiatives, technological…
The Planters’ Association of Ceylon (PA) has commended the Government of Sri Lanka for its decision to postpone the abolition of the Simplified Value Added Tax (SVAT) system to April 1, 2025. This decision, initially planned for January 1, 2024, followed strong opposition from a broad coalition of exporters and business chambers. While the postponement…
The Commercial Bank of Ceylon has been ranked the best for service excellence among Sri Lanka’s banks in the 2024 edition of the annual Customer Excellence Survey of LMD, the country’s pioneering business magazine. This is the second consecutive year that Commercial Bank topped the banking sector for service excellence in the LMD survey. Conducted…
SLASSCOM (Sri Lanka Association for Software Services Companies) is thrilled to announce the continuation of its partnership with the Royal Norwegian Embassy. This collaboration builds on a history of impactful programs that have transformed Sri Lanka’s knowledge and innovation sector, focusing on skill development, AI awareness, startups and the empowerment of women tech entrepreneurs. The…
Small and Medium-sized Enterprises (SMEs) sector has been identified as the most crucial sector of strategic importance to re-orient the country’s economy considering the sectorial contribution to the economy which is more than 50% to the country’s Gross Domestic Production. Nevertheless, the recent upheavals experienced by the country during last few years, following the 2019…
Reuters – China will continue to play a “positive role” in the International Monetary Fund and maintain friendly communication with other creditors, in assisting Sri Lanka to achieve financial relief and debt sustainability, China’s Xinhua news agency reported on Thursday. The two countries will strive to conclude a comprehensive China-Sri Lanka free trade agreement as…
The Digital Payments Promotion Campaign 2025 under the theme of “Shaping the Future through Digital Transactions” was launched by Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka (CBSL) on 9th January 2025, at the Magam Ruhunupura Administrative Complex in Hambantota. The campaign was organized by CBSL with the support of Mr. Bimal…
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