Sri Lanka will obtain USD 75 million (approx. Rs. 11,400 million) from International Development Association (IDA) of the World Bank to implement the Financial Sector Modernization Project. The development objective of the proposed project is “to contribute to increasing financial market efficiency and use of financial services among micro, small and medium enterprises and individuals”….
Foreign Minister Tilak Marapana during his recent visit to Luxembourg attended a business luncheon hosted by the European Investment Bank (EIB) at its headquarters in Luxembourg. The Foreign Minister, accompanied by Ambassador of Sri Lanka in Brussels Rodney Perera met with Andrew McDowell, Vice President of the EIB and senior officials of the bank. The…
Reuters – Sri Lankan shares rose for a fifth straight session on Wednesday and closed at their highest in nearly eight weeks as foreign investors bought shares in top lender Commercial Bank of Ceylon Plc. Foreign investors bought a net 1.9 billion rupees ($12.4 million) worth of shares, mainly Commercial bank, marking the biggest single-session…
Reuters – Sri Lanka has blocked a proposal by Chinese firms bidding to build the island’s biggest oil refinery to sell fuel locally, fearing a threat to domestic firms that dominate the small but growing market. The veto is the latest in a tussle over Chinese investments in Hambantota, a southern town near an important…
Fitch Ratings Lanka has affirmed the National Long-Term Ratings on five small and mid-sized Sri Lankan banks. The banks are: — Nations Trust Bank PLC (NTB) — Pan Asia Banking Corporation PLC (PABC) — Union Bank of Colombo PLC (UB) — SANASA Development Bank PLC (SDB) — Amana Bank PLC (Amana) A full list of…
Reuters – Sri Lankan shares rose for the fourth straight session on Tuesday and closed at their highest level in more than seven weeks, with banks leading the gains. Turnover hit a two-week high due to buying across the board, while foreign investors continued to purchase Sri Lankan equities. The Colombo stock index ended 0.36…
Having inked the Sustainable Development Framework with Sri Lanka in August, United Nations Sri Lanka has unveiled its way forward on the country’s sustainable industry goals for the first time on 2 October in Colombo. “SDGs are the global goals for our own survival” voiced UN Resident Coordinator and UNDP Resident Representative Ms Una McCauley…
Sri Lanka Telecom PLC and Indocean Developers (Pvt) Limited recently entered into an agreement that will redefine the experience of luxury living. Through this agreement SLT’s high speed broadband services up to the speed of 100Mbps and high definition television content through its IPTV platform will be provided over Optical Fibre to all residents of…
High Commissioner of Sri Lanka to the United Kingdom Her Excellency Ms. Amari Wijewardene says this is the best time to promote Lankan products in the UK market, as Sri Lanka has been rewarded with the ‘’EU GS Plus’’ facility. She says under the ’ÉU GSP Plus’’ trade facility, Sri Lankan businesses can export products…
Following the momentous acquisition of Singer (Sri Lanka), by Hayleys PLC, last month, Hayleys PLC, Chairman and Chief Executive, Mr. Mohan Pandithage was appointed Chairman of Singer (Sri Lanka), and business tycoon and Co-Chairman, Hayleys PLC, Mr. Dhammika Perera was appointed Co-Chairman of Singer (Sri Lanka), at a Board Meeting held at the Singer (Sri…
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