No Political Favoritism in Granting New Investment Opportunities- President President Anura Kumara Dissanayake stated that with the political stability that has prevailed in the country today, an environment suitable for investment has been created. He further emphasized that there will be no political influence in granting new investment opportunities, such as those based on political…
Contrary to the popular belief that the country is way behind in its digital transformation, Sri Lanka’s economic heartbeat now pulses digitally with LankaPay as its lifeblood. Transcending its original role as a mere payment system, LankaPay has emerged as the country’s digital backbone, laying the foundation for rapid economic growth. In 2023, LankaPay’s digital…
The United Kingdom (UK)-Sri Lanka Trade Mission, co-organized by the International Trade Centre (ITC) and the Sri Lanka Export Development Board (EDB), successfully concluded its Jaffna program on 4th December 2024. This initiative highlighted the export potential of women-led businesses in Sri Lanka, particularly in the Northern region. The programme, part of the UK Government-funded…
Reuters – Bitcoin catapulted above $100,000 for the first time on Thursday, a milestone hailed even by sceptics as a coming-of-age for cryptocurrencies as investors bet on a friendly U.S. administration to cement cryptos’ place in financial markets. The total value of the cryptocurrency market has almost doubled over the year so far to hit…
Fitch Ratings: Fitch Ratings has upgraded Bank of Ceylon’s (BOC) Long-Term Foreign Currency Issuer Default Rating (IDR) to ‘CCC-‘ from ‘CC’. At the same time, the Rating Watch Negative (RWN) on the Viability Rating (VR) has been removed and the VR upgraded to ‘ccc-‘ from ‘cc’. Fitch has also affirmed the Short-Term IDR at ‘C’…
The Central Bank of Sri Lanka (CBSL) has issued Circular No. 03 of 2024, outlining comprehensive guidelines for the establishment and operation of Mobile Banking Units (MBUs) by Licensed Commercial Banks (LCBs). The move aims to standardize mobile banking practices and enhance accessibility to banking services across the country. Under these new guidelines, MBUs are…
The Local Assembly Industry, under the Standard Operating Procedure (SOP) of the Ministry of Industries, comprises more than 17 assemblies producing motorcars, SUVs, motorcycles, electric three-wheelers, light trucks, and heavy trucks. These assemblies are supported by local component manufacturers who produce a range of parts such as batteries, tyres, bumpers, exhaust systems, seats, plastic parts,…
In an exciting initiative to bolster Sri Lanka’s tourism industry, the Sri Lanka Tourism Promotion Bureau (SLTPB) is set to host four prominent Australian-based social media influencers this December. The campaign aims to capture the allure of Sri Lanka through the eyes of these digital content creators, whose combined reach spans millions of followers across…
The World Bank has expressed its commitment to supporting the Government of Sri Lanka’s “Clean Sri Lanka” programme, as announced by World Bank Executive Director Parameswaran Iyer during a meeting with President Anura Kumara Dissanayake at the Presidential Secretariat today (04). Congratulating the President on forming the new government, Mr. Iyer affirmed that all ongoing…
The All Share Price Index (ASPI) of the Colombo Stock Exchange has reached all-time high today (04), surpassing the previous record set on 19 January 2022. Accordingly, the index has increased by 171.69 points within the day to close at 13,511.73 points . Meanwhile, today’s turnover was reported as Rs. 5.21 billion.
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