The unique index skyrockets to a 42 month high following the presidential poll With a general election on the horizon, Sri Lanka stands at a pivotal point once again, as the country’s future rests in the hands of those who will be elected to govern. Meanwhile, the business community has had its say on the…
WindForce PLC has officially commissioned a 366 kWp rooftop solar PV project on Cocoon Island, Maldives, in partnership with Cocoon Investment Pvt Ltd. This Engineering, Procurement, and Commissioning (EPC) project, launched on October 20, 2024, aims to significantly lower the resort’s carbon footprint through solar energy utilization. Located in the picturesque Lhaviyani Atoll, the project…
The Ceylon Chamber of Commerce, in collaboration with the Sri Lanka–Greater Mekong Business Council (SLGMBC), recently concluded a highly successful business promotion mission to Thailand from 16th to 19th October 2024. The mission was organised to coincide with the LogiMAT Southeast Asia and LogiFOOD Southeast Asia 2024 Exhibition at BITEC Bangna, providing Sri Lankan delegates…
(Reuters) – Sri Lanka met this week with its bondholders in Washington to discuss a debt exchange as the South Asian country aims to emerge from default as soon as possible, central bank Governor Nandalal Weerasinghe said on Friday. He said the talks, which happened on the sidelines of the IMF/World Bank meetings in Washington,…
The Chairman of Commercial Bank of Ceylon PLC Mr Sharhan Muhseen and the Bank’s Managing Director/CEO Mr Sanath Manatunge recently held discussions with the Governors of the Central Banks of Bangladesh and the Maldives on the sidelines of the annual meetings of the International Monetary Fund (IMF) and the World Bank Group in Washington DC….
The Colombo Stock Exchange (CSE) has been placed as the second best performing equity index in Asia as of 25th October 2024, with the All Share Price Index (ASPI) boasting an impressive year-to-date return of 29.65% in USD (Source: Bloomberg.com). This outstanding performance underscores the resilience of Sri Lanka’s capital market and its growing appeal…
In a recent development, McDonald’s Corporation and International Restaurant Systems (Private) Limited have officially terminated their franchise relationship in Sri Lanka. The two companies have reached a mutually agreeable legal settlement, marking the end of their collaboration in the region. In a joint statement, both McDonald’s Corporation and International Restaurant Systems expressed their gratitude to…
In a recent press briefing, officials from the International Monetary Fund (IMF) provided updates on Sri Lanka’s economic situation, particularly in the context of the country’s ongoing debt restructuring and the implications of a new government. Director of the Asia and Pacific Department, Krishna Srinivasan, and Deputy Director Thomas Helbling addressed critical questions regarding fiscal…
National Development Bank PLC (NDB) has received a Second-Party Opinion (SPO) from Sustainable Fitch for its Sustainable Bond Framework (SBF), marking a significant step in NDB’s commitment to sustainable finance. The SPO, which provides an independent assessment of NDB’s framework, has rated the alignment of the bank’s sustainability bond framework as “Good” based on internationally…
The Food and Agriculture Organization of the United Nations (FAO), with funding from the government of Norway, has taken a significant step toward enhancing resilience and sustainability in Sri Lanka’s fisheries sector by handing over a multi-day fishing boat equipped with advanced cooling technology and a fuel-saving bulbous bow. This initiative promotes the adoption of…
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