Aitken Spence held its first flagship Disaster Risk Reduction (DRR) programme recently to bring awareness to the importance of looking at increasing resilience building mechanisms, practical process creation for disaster response and always looking at reducing hazards be it natural or man-made. The exacerbation of the climate emergency has led to the increasing importance of…
Alliance Finance Company PLC (AFC), the pioneer and leader in sustainable finance, proudly announces the issuance of Sri Lanka’s first Green Bond by a Non-Banking Financial Institution (NBFI). This groundbreaking initiative reinforces AFC’s commitment to advancing Sri Lanka’s green economy and accelerating the transition towards a low-carbon, climate-resilient future. As an institution deeply rooted in…
President Anura Kumara Dissanayake highlighted that due to the mismanagement of public finances by previous administrations, the country had fallen into bankruptcy and is currently operating under a probationary period of the International Monetary Fund (IMF) program. Given this situation, he emphasized that the Budget 2025 has taken the initial steps towards building a strong…
Introduces first-ever smart transformer technology to the nation’s rooftop solar installations Hayleys Solar, the renewable energy arm of Hayleys Fentons Limited, has successfully completed the design, supply, installation, and commissioning of a groundbreaking 6.9 MW rooftop solar photovoltaic (PV) system for Access Logistics Private Limited in Negombo – the largest single solar roof installation ever…
A discussion led by Dr. Hans Wijayasuriya, Senior Advisor to the President on Digital Economy Affairs, was held at Sri Lanka CERT to reinforce cybersecurity measures in alignment with the government’s digital economy policy. The meeting emphasized the importance of proactive steps to enhance national cybersecurity resilience. The discussion was attended by Sri Lanka CERT…
Fitch Ratings-Hong Kong/London-18 February 2025: The US administration’s inclusion of a broad range of factors in its assessment of whether trade relations with foreign trading partners are fair and reciprocal will increase uncertainty over the scale of tariffs that could be introduced, and which markets could be affected, says Fitch Ratings. Sovereigns that have significant…
The Executive Board of the International Monetary Fund (IMF) is scheduled to meet on February 28, 2025 to discuss and approve third review of Sri Lanka’s Extended Fund Facility (EFF) programme. The IMF staff and the Sri Lankan authorities reached a staff-level agreement on the Third Review of Sri Lanka’s EFF program on November 23,…
The Ceylon Chamber of Commerce welcomes bold proposals in the budget that align with its recommendations, Sri Lanka Economic Summit discussions, and Vision 2030 goals. The 2025 Budget focuses on stability, governance, public relief, tackling corruption, and driving inclusive growth. The Budget emphasises infrastructure expansion through Public-Private Partnerships (PPPs) and digital economy initiatives, providing a…
Reuters – Sri Lanka’s budgeted expenditure for 2025 will likely lead to a wider fiscal deficit and slower-than-expected fiscal consolidation, Moody’s Ratings said on Tuesday, a day after the island nation unveiled its budget. Sri Lanka aims to transform its crisis-hit economy to prepare to resume debt repayments from 2028, President Anura Kumara Dissanayake said on…
Sri Lanka’s banks have welcomed the maiden budget of the new government, describing it as “positive” and one that seeks to maintain policy consistency, especially on the fiscal path. In a statement, the Sri Lanka Banks’ Association (SLBA), which represents all licensed banks in Sri Lanka, commended the budget proposals presented to Parliament by President…
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