The Sri Lanka Telecommunications (Amendment) Bill to amend the Telecommunications Act was considered at the Committee on Public Finance to which the said approval was granted. This was approved when the Committee on Public Finance met in Parliament on 25.06.2024 under the Chairmanship of Hon. (Dr.) Harsha de Silva, Member of Parliament. Officials representing Attorney…
In order to develop the progress of the Colombo Stock Market, the Sectoral Oversight Committee on Alleviating the Impact of the Economic Crisis paid attention towards the actions that the Securities and Exchange Commission of Sri Lanka can take. Attention was drawn to the said when the Sectoral Oversight Committee on Alleviating the Impact of…
Travellers planning their summer getaway to Dubai can enjoy a complimentary stay at the world’s tallest 5-star hotel, JW Marriott Marquis Hotel Dubai Emirates has announced an exciting new offer for holidaymakers planning to visit or stopover in Dubai this summer. Starting from 1st July 2024 to 21st July 2024, travellers who purchase an Emirates…
By Nandana Padma Kumara Introduction Digital banking refers to the provision of financial services through digital platforms, such as online and mobile applications, enabling customers to manage their accounts and conduct transactions without needing to visit a physical branch. While the concept is not new, its definition continually evolves with technological advancements, expanding the capabilities…
The Sri Lanka rupee recorded a depreciation during June 2024 despite the overall appreciation so far in 2024. The Sri Lanka rupee appreciated by 6.0 per cent against the US dollar during the year up to 28 June 2024. However, the rupee depreciated by 1.7 per cent and 1.2 per cent in May and June…
Hemas Holdings PLC announced the appointment of Ajith Fernando and Supun Weerasinghe as Independent Non-Executive Directors, effective 1st July 2024. Additionally, Ajith Fernando will serve as a member of the Hemas Board’s Nomination and Governance Committee. These strategic appointments underscore Hemas’ commitment to enhancing governance and leveraging deep industry expertise as the Group continues its…
Business Sentiment – Index Crosses Century Mark In the midst of the ruckus surrounding a pivotal presidential election, the IMF says that Sri Lanka’s macroeconomic policy reforms are beginning to bear fruit, anticipating agreements with external commercial creditors soon. This statement preceded the recently concluded second review of the International Monetary Fund’s US$ 2.9 billion…
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100) accelerated to 1.7% in June 2024 from 0.9% in May 2024. This acceleration in the headline inflation is broadly in line with the projections of the Central Bank of Sri Lanka (CBSL). Even with this acceleration, inflation remained…
Marking a milestone initiative to strengthen Sri Lanka’s dairy industry, DFCC Bank has allocated Rs. 500 million to finance smallholder dairy farmers, in line with its commitment to supporting sustainable development. This dedicated initiative by DFCC Bank is the brainchild of the bank’s MSME (Micro, Small, and Medium Enterprises) Unit and is built upon the successful experience…
The Ceylon Chamber of Commerce is pleased to announce the ‘Best Corporate Citizen Sustainability Award 2024 (BCCS Awards)’, marking its 21st year as a highlight in the corporate calendar. A briefing seminar sharing insights on the application process will be held on 26th July, at 2 pm at the Ceylon Chamber. Designed to inspire companies…
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