The Monetary Board of the Central Bank of Sri Lanka has established an Advisory Committee to examine possible revival options for failed finance companies. The Committee comprises four (04) eminent experts from the business sector and is chaired by Mr. Dharma Dheerasinghe, Chairman of CBC Finance Ltd., former Chairman of Commercial Bank of Ceylon PLC and former Deputy…
Sustaining Sri Lanka’s prominence as one of the most popular tourist destinations in the post-COVID-19 era, an inaugural virtual MICE Expo will be launched from 1st to 3rd December 2021. This exciting 3-day event will consist of a Virtual Expo and interactive webinars to showcase what Sri Lanka can offer for MICE and Business events…
Sri Lanka’s merchandize exports in September 2021 recorded US$ 995.8 Mn as per the data released by the Sri Lanka Customs. EDB Chairman & CE, Suresh D. de Mel said, “Observing the export figures of September, it is remarkable to see that our exporters performed this well amidst travel restrictions and lockdowns due to the…
Seylan Bank PLC announced a Profit After Tax (PAT) of Rs. 3.2 Billion in the nine months ending September 30, 2021 reflecting a 45% increase over the corresponding period last year. The Bank’s Net Interest Income grew by 14.76% to LKR 17,068 Mn during the period under review, announcing a robust growth as the industry…
The Report of the Blockchain Technology based Shared KYC POC was presented to the Governor of the Central Bank of Sri Lanka (CBSL) Mr. Ajith Nivard Cabraal by the Chairman of the National Payment Council (NPC), Mrs. Yvette Fernando, Deputy Governor of CBSL on 25 October 2021 amidst attendance of CBSL management and officers, and…
The Government of Sri Lanka (GOSL) wishes to express strong displeasure on the recent assessment by Moody’s Investors Service (Moody’s) that led to the rating action, after being placed under review for downgrade three months ago in a similar fashion. Once again, Moody’s irrational rating action with regard to Sri Lanka comes a few days…
Singapore, October 28, 2021 — Moody’s Investors Service (“Moody’s”) has today downgraded the Government of Sri Lanka’s long-term foreign currency issuer and senior unsecured debt ratings to Caa2 from Caa1 under review for downgrade. The outlook is stable. This concludes the review for downgrade initiated on 19 July 2021. The decision to downgrade the ratings…
Global study finds 78% of people feel “stuck” professionally and personally (77%) 90% of people say their meaning of success has changed since the pandemic started 89% of people want technology to help define their future 78% of people felt their companies were more concerned with their mental health now than before the pandemic People…
Jason Avanceña has been appointed Managing Director of Nestlé Lanka PLC effective 1 October 2021 and will lead Nestlé’s operations in Sri Lanka and the Maldives. He takes over from former Managing Director, Fabrice Cavallin, who moved to Switzerland as part of the regional management team for Asia, Oceania and Africa (AOA), overlooking the Nestlé…
Sri Lanka Convention Bureau (SLCB) together with the Sri Lanka Association of Professional Conference Exhibition & Event Organizers (SLAPCEO), held a virtual training programme on the 18 October 2021 under the theme “MICE UP, Redefining Sri Lanka’s MICE Tourism” with the participation of regional hoteliers in Sri Lanka. As per its mandate, SLCB has been organizing…
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