The Hambantota International Port (HIP) follows all guidelines laid down by the government with regard to service engineer embarkations that occur at the port, and the process is carried out under the supervision of the Sri Lanka Navy. The most recent overseas repair team to arrive at the Mattala Rajapaksa International Airport, were three service…
The Central Bank of Sri Lanka (CBSL) entered into agreements to begin the process of developing Blockchain Technology Based Shared Know-Your-Customer (KYC) proofs of concept (POCs) on 7 July 2020. CBSL identified the potential benefit for Sri Lanka’s financial services in 2018 and initiated an inter-industry study of Blockchain Technology, with the voluntary participation of…
The Government has not done any changes to the interest rates in senior citizens’ accounts, Minister Bandula Gunawardena stated. The Minister of Higher Education, Technology, Innovations, and Information & Mass Media mentioned this offering an explanation into a newspaper article published yesterday (06) under the caption ‘Senior Citizens Deposit Interest is falling to 8%’. Gunawardena…
The government has to adopt sustainable measures to protect local manufacturers, a top industry official said. “We welcome the Government’s policy impetus towards strengthening local industries and are keen to widen our local manufacturing footprint through diversifying into related products. We urge the government to adopt sustainable measures to protect local manufacturers such as Singer…
“Sri Lanka has all the necessary attributes to become a leading global wellness player, says panel of experts” An esteemed panel of local and international experts from the wellness tourism industry have agreed that Sri Lanka has all the necessary attributes to become a leading global wellness player. The comments were made during the first…
Despite being considerably affected by the recent COVID -19 outbreak, Sri Lanka Tourism is currently taking several measures to revive the Tourism sector by collaborating with key international organizations, and platforms, through destination promotional marketing among new markets via social and digital media. It is very well known that the Travel and Tourism industry worldwide…
MillionSpaces brings together leading corporates MAS, Hemas, JKH, Virtusa and PwC, in a forward-thinking webinar on adapting to a post-COVID work environment. It’s hard to draw positives from a global crisis such as COVID-19, one that has taken hundreds of thousands of lives and impacted millions more globally, but the reality of crises such as…
Alternative reference rates are gradually replacing Libor in new contracts but it is still being used, so associated risks persist Some existing contracts will likely prove incapable of transition, particularly in structured finance The London Interbank Offered Rate (Libor) will likely be discontinued at the end of 2021, but other market standards and issues remain…
The latest data from the Central Bank of Sri Lanka points out that Foreigners had gradually exited from Sri Lanka’s Government Securities (Treasury Bills and Treasury Bonds) and pulled out over Rs. 5,133 million in a week, during the period from 24 June 2020 to 01 July 2020. The value of Government Securities held by…
Bank of Ceylon (BOC) the largest bank and the market leader in the financial services sector in Sri Lanka launched a private placement of Basel III Compliant, Unlisted, Unsecured, Subordinated, Perpetual, Additional Tier I Capital Bond issue with Non-Viability Write Down features. The amount to be raised was Rs. 3 billion with an option to…
Video Story
