People’s Bank once again made its mark by securing its place amongst the ‘Top 1000 Banks in the World – a ranking carried by the prestigious Banker Magazine United Kingdom – a publication by the Financial Times. More importantly, the Bank was ranked amongst the Top 200 in terms of Returns on Capital – a…
According to the latest Bloomberg Billionaires Index, Ambani’s net worth now stands at $72.4 billion (Rs 5.44 lakh crore) after a rise of $2.17 billion. Reliance Industries Limited Chairman Mukesh Ambani has become the sixth richest man in the world after surpassing Alphabet Co-founder Larry Page, according to data on the Bloomberg Billionaires Index (BBI)….
IFC, a member of the World Bank Group, will support Commercial Bank of Ceylon (ComBank), Sri Lanka’s largest commercial bank, to develop more specially-designed products and services for women, as part of a move to help boost access to finance for women, especially those who own small and medium sized businesses (SMEs). The advisory assistance…
Making a significant progress from its preceding ranking, in the 2020 United Nations E-Government Development Index (EGDI), Sri Lanka has advanced its position to the 85th from 94th in 2018. While this wasn’t the highest position Sri Lanka has achieved over the twenty years of survey period, it can be seen a substantial advancement as…
A net outflow of foreign investment amounting to $ 3 million was recorded from the rupee denominated Government securities market in May, resulting in a cumulative net outflow of $ 454 million during the first five months of 2020. The total outstanding exposure of foreign investment in the Government securities market remains significantly low at…
No tourist arrivals recorded in May; cumulative earnings for first five months estimated at $ 956 m Workers’ remittances declined by 23.2% in May, year-on-year, to $ 432 million, the Central Bank said yesterday (13). On a cumulative basis, workers’ remittances recorded a decline of 11.9% to $ 2,407 million during the first five months of…
According to the latest external trade data released by the Central Bank, country’s trade deficit narrowed in May 2020 as imports fell more than the decline in exports. The external sector showed signs of stabilisation, with the removal of most lockdown measures in the second week of May 2020. The impact of restrictions on non-essential…
The Colombo Stock market ended on a negative note today (13), as fears of a second coronavirus wave sent stocks plummeting. In equities, Colombo’s All Share Price Index (ASPI) fell 112.86 points or 2.26% to close at 4,879.76 and S&P SL20 index of more liquid stocks fell 3.18% or 68.09 points to close 2,072.10. Market turnover was Rs. 1.34…
The compensation payments to the depositors of The Finance Company PLC under the SLDILSS subject to a maximum amount of Rs.600,000 per depositor was commenced on 07.06.2020 through 63 branches of the People’s Bank island-wide. The funds required for making compensations to approximately 147,000 depositors whose eligibility has been confirmed by The Finance Company PLC…
Bloomberg – Caribbean nations are so strapped for cash after the pandemic hammered their tourism industries that they have begun dangling deep discounts on the passports they sell to wealthy foreigners. Many of the islands in the region have long offered “citizenship-by-investment” programs as a way of supplementing the hard currency they pull in from…
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