The Monetary Policy Board of the Central Bank of Sri Lanka, at its meeting held on 27 May 2024, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 8.50 per cent and 9.50 per cent, respectively. The Board arrived…
Ms. Punyamali Saparamadu, Senior Vice President of the CSE Commercial Division, providing a detailed overview on the strategies adopted by CSE to stimulate growth and broaden its revenue sources. Her insights also highlight the new product portfolio as well as issuer relations initiatives of the Colombo Stock Exchange. Can you talk about the role your…
Ceylon Electricity Board (CEB) has divested a 28% stake in LTL Holdings (Pvt) Ltd to West Coast Power (Pvt) Ltd for a consideration of LKR 26 billion. The transfer, finalized on February 7, 2024, is part of a settlement for prolonged outstanding payments for energy purchases from West Coast Power. Following this transaction, CEB’s shareholding…
People of various origins from all corners of the globe inhabited Sri Lanka long before ‘paper’ was invented by the Chinese. When British introduced democratic governance on a ‘paper’ Sri Lankans started editing it in 1948 calling it their constitution. Constitution helps to prevent conflicts but Sri Lankans were conflicting & ended in an economic…
In an era were Artificial Intelligence (AI) is rapidly evolving and transforming enterprise on a global scale, LankaGPT proudly announces the upcoming launch of Sigiriya AI. This groundbreaking tool was developed by a team of 30, spread across Sri Lanka, United States, and Dubai, is geared to launch in July 2024. Sigiriya AI is the…
Mr. Ruwan Wijewardene, Senior Adviser to the President on Climate Change, stated that attracting investments from renowned businessmen such as Tesla and SpaceX CEO Elon Musk would significantly boost the country’s economy. He emphasized that partnering with a project like “Starlink” could provide internet facilities to underserved areas, supporting the growth of various sectors beneficial…
The plantation industry raised its strongest possible objections to the Government’s arbitrary, reckless, unilateral decision to drastically hike minimum wages for tea and rubber sector workers by an unprecedented 70%. All producer stakeholders issued a unified warning against the devastating impact the latest increase will have on the plantation sector, leading crippling operational challenges, ultimately…
AIA Group Limited (“AIA” or the “Group”) today announces the opening of its redeveloped group headquarters at 1 Stubbs Road, Wan Chai in Hong Kong. The AIA Building is Hong Kong’s first urban campus and is wholly owned, operated and solely occupied by AIA. Edmund Tse, AIA Group Chairman, Lee Yuan Siong, AIA Group Chief Executive and President, and the Honourable Michael Wong, Acting…
Reuters – Saudi Arabia is planning a multi-billion-dollar share sale in energy giant Aramco as soon as June in what would be one of the region’s biggest stock deals, two people familiar with the matter said. The offering could raise around $10 billion, one of the people said. The preparations are ongoing and the details…
India is in talks with Sri Lanka to acquire a graphite mine block in the island nation, pushing ahead with its plan to forge global alliances to secure critical mineral supplies, said people familiar with the development. Separately, the country has received an offer from the United Arab Emirates to partner for critical minerals, they said. “Graphite is crucial for India since it…
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