Dialog Axiata PLC, Sri Lanka’s premier connectivity provider in partnership with Dialog Finance PLC and Lanka Clear, announced the launch of ‘LANKAQR’ – the National Quick Response (QR) Code Standard for local currency payments introduced by the Central Bank of Sri Lanka, enabling a cashless Sri Lanka. Dialog aims to enable over 50,000 of its…
The Central Bank of Sri Lanka (CBSL) together with financial institutions with LANKAQR enabled payment apps launched “Mataleta LANKAQR”, an islandwide awareness campaign on 12 September 2020 at the Central Bank of Sri Lanka Regional Office- Matale under the theme of “Mataleta LANKAQR” (Taking LANKAQR to Matale). The chief guest of this inaugural ceremony was…
The World Bank has reallocated $56 million from ongoing projects in Sri Lanka to protect the most vulnerable in the agriculture sector, improve COVID-19 protection measures on public transport, facilitate tele-education for school children, and provide digital solutions to improve delivery of public services. This new financing complements the $128.6 million Sri Lanka COVID-19 Emergency Response…
Baring Private Equity Asia (“BPEA”), one of the largest and most established private alternative investment firms in Asia, and Virtusa Corporation a global provider of digital strategy, digital engineering, and IT services and solutions announced that the companies have entered into a definitive merger agreement under which funds affiliated with BPEA will acquire all outstanding…
The Government plans to produce 50% of the country’s requirement of pharmaceuticals locally within the next three years, the President’s Media Division stated. The objective is to provide high-quality medicine to the public and the foreign market as well, at affordable prices. All products are made in accordance with the recommendations and standards of the World…
Sri Lanka will introduce PayPal online payment solution, once some national security issues are resolved, Co-Cabinet Spokesman Udaya Gammanpila stated. Speaking at the cabinet media briefing yesterday (10), Gammanpila stated that as a Computer Engineer in profession, he strongly supports the establishment of this payment giant in Sri Lanka. But currently, there are two main…
Sri Lanka’s rubber sector needs more investments, private and public, foreign and local, and thereby common industry infrastructure facilities will improve, Samson International PLC (SIL), one of the largest rubber product manufacturers in Sri Lanka stated. “Sri Lanka’s natural rubber has a high-demand in the world market due to its unique properties. The country now…
Appoints Frontier Capital lead Nishan Sumanadeera as legal and financial consultant to restructure and to restore confidence among foreign investors Amidst ongoing negotiations between key Japanese and Malaysian investors of Sri Lanka’s one of the pioneering investment bank – Asia Capital PLC (ACAP), the company has recently stepped into appoint a legal and financial consultant…
Innovative virtual and custom testing platform allows central banks to evaluate use cases and test roll-out strategies for CBDCs by simulating a CBDC ecosystem Central banks, commercial banks, and tech and advisory firms invited to partner with Mastercard to evaluate the suitability of CBDCs in a country or region With the global economy racing to…
Fitch believes Pakistan will start to lower its public debt-to-GDP ratio in 2022 under its IMF-supported programme, but projects a sustained increase for Sri Lanka throughout 2020-2022. Economic growth will turn positive for Asia in 2H20, but the process of fiscal consolidation is set to be more protracted for the region, says Fitch Ratings. The…
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