By virtue of the powers vested under Section 19 (1) read together with section 19 (2) of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), financial penalties are imposed on Institutions for non-compliance with the provisions of the FTRA. The penalty may be prescribed by taking into consideration the nature and gravity of…
Bloomberg – As Sri Lanka stabilizes after an unprecedented default in 2022, global investors will return if the country is perceived to be on the right track, according to Sweden’s Tundra Fonder AB. Since a restructuring of Sri Lanka’s dollar bonds in December, the country’s economic expansion has beaten forecasts and its credit ratings have been upgraded, though…
Bloomberg – Sri Lanka’s new government will be restricted in how much it can spend for at least the next two years, the prime minister said, as it looks to balance campaign pledges to unwind tax increases and other austerity measures against limits set by its $3 billion bailout program. Despite an unprecedented mandate that…
Reuters – Siemens Energy, opens new tab will sell 90% of its wind turbine business in India and Sri Lanka to an investor group led by the climate investment arm of buyout group TPG, opens new tab, in the latest move aimed at fixing its struggling renewables division. Siemens Gamesa, Siemens Energy’s loss-making wind turbine…
Softlogic Life, one of Sri Lanka’s leading life insurers, today announces it has agreed to acquire 100% of the shares of Allianz Life Insurance Lanka Limited , subject to the approval of the Insurance Regulatory Commission of Sri Lanka. The acquisition aligns with Softlogic Life’s mission to deliver world class life insurance products to consumers…
As agreed with the Sri Lanka Banks’ Association (Guarantee) Ltd. (SLBA), to provide relief measures to affected SMEs by licensed commercial banks and licensed specialised banks, Circular No. 04 of 2024 dated 19.12.2024, and its addendum, Circular No. 01 of 2025 dated 01.01.2025 were issued by the Central Bank of Sri Lanka to ensure the…
SriLankan Airlines partners once again with the Gustav Mahler Society of Colombo (GMSC) to amplify the performing arts in Sri Lanka by supporting their ‘Spring Concert,’ scheduled for 29 March 2025, at the Lionel Wendt Theatre. This special musical event will feature renowned Sri Lankan classical guitarist, Jude Peiris, and Japanese guest artists Hiroshi Kogure…
Emirates’ latest aircraft, the Airbus A350, has made its debut in Sri Lanka, introducing an exciting new dimension in air travel to and from the popular destination of Colombo. The roll out of Emirates’ A350 aircraft to Sri Lanka featuring the airline’s latest interiors, industry-first technologies and innovations, reinforces the airline’s commitment to a market…
LankaPay – Sri Lanka’s National Payment Network, announced their partnership with Ant International, a leading global digital payment, digitisation and financial technology provider, to launch Alipay+ acceptance in Sri Lanka at a press conference held on 25th March 2025 at the Shangri-la Hotel, Colombo. Accordingly, over 400,000 LANKAQR merchants across Sri Lanka will be able…
The High Commission of Sri Lanka in Kuala Lumpur conducted a series of investment promotion activities in Malaysia in collaboration with Colombo Port City in February and March 2025. These initiatives aimed to strengthen economic ties, attract Malaysian investors, and showcase Sri Lanka’s investment potential. The Acting High Commissioner of Sri Lanka in Kuala Lumpur, M.I….
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