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…
The Group of 24 (G-24), during a press conference at the Annual Meetings of the International Monetary Fund (IMF) and World Bank Group, highlighted the notable progress Sri Lanka has made in its economic recovery while advocating for more inclusive global debt resolution frameworks to further assist middle-income countries like Sri Lanka. Responding to a…
The Securities and Exchange Commission of Sri Lanka (SEC), in collaboration with the Colombo Stock Exchange (CSE), conducted an Investor Forum in Matale on 23rd October 2024 at The Grand Mountain Hotel, Matale. The forum is part of an ongoing effort to raise awareness on investor protection and emphasize the importance of educating the public…
The SLASSCOM AI Asia Summit 2024 is set to return on November 5, 2024, as the premier event for AI enthusiasts, innovators, and business leaders across Asia. Powered by Deloitte, this year’s event promises cutting-edge keynotes, insightful panel discussions, and hands-on breakout sessions that will explore AI’s transformative impact on various industries. Since 2018, the…
The aviation sector supported 27% of Dubai’s GDP in 2023, with an economic contribution of AED 137 billion (USD 37.3 billion) – which is set to rise to almost a third of Dubai’s GDP by 2030. The total aviation sector impact includes the sector’s core impact as well as the catalytic impact of aviation-facilitated tourism…
Elevating Sri Lanka’s Economic Profile: The Strategic Role of Colombo Port City SEZ The Colombo Port City Special Economic Zone (SEZ) is rapidly establishing itself as a leading regional business hub in South Asia, offering a modern legal framework and a business-enabling environment designed for investors to thrive. Positioned as a competitive alternative to established…
Sri Lanka Insurance Corporation (SLIC) is pleased to announce the appointment of Mr. Nusith Kumaratunga as the new Chairman, with effect from 18th of October 2024. Mr. Kumaratunga assumed official duties on 22nd October 2024. A seasoned professional with extensive experience in finance, management, and entrepreneurship, Mr. Kumaratunga brings a wealth of knowledge and expertise…
Contingent debt instruments used in Zambia, Ukraine, Sri Lanka Instruments will be discussed at IMF World Bank in Washington BIS research shows past instruments have been costly for issuers Reuters – The recent cascade of countries defaulting on their debt has brought back into vogue complex securities – born in the 1980s – that aim…
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