The Colombo Stock Exchange (CSE) and DFCC Bank PLC (DFCC) signed a Memorandum of Understanding (MoU) recently with the aim of enhancing the facilitation of Inward Investment Accounts (IIAs) for non-resident foreign individuals (FIs) in Sri Lanka. This collaboration will enable FIs to request IIAs when opening Central Depository Systems (CDS) accounts via the CSE…
SriLankan Airlines and flydubai, the Dubai-based carrier, have announced today an interline agreement commencing from 09 September 2024, introducing more travel opportunities between Sri Lanka, the UAE and beyond on select routes on the carriers’ networks. This interline agreement will enable passengers travelling with SriLankan Airlines to seamlessly connect via Dubai’s aviation hub to more…
The service, which was reduced to three days a week due to lower-than-expected bookings, will now be operated on Saturdays too starting 21st September 2024. The passenger ferry service between Nagapattinam in Tamil Nadu and Kankesanthurai in Sri Lanka will add an extra weekly sailing. The service, which was reduced to three days a week due to…
Reinforces the transparency, stability and predictability of AGEL’s Capital Management Plan Adani Green Energy Ltd (AGEL) redeems its USD 750 million 4.375% Holdco Notes due 8 September 2024 (“Holdco Notes”) through a fully funded redemption reserve account maintained since January 2024. The Holdco Notes were for funding AGEL’s accelerated growth in the past 3 years….
There has been an exponential increase in the number of vessels arriving at Hambantota International Port (HIP) for repairs and layups this year, marking a significant boost in its operational growth. From January to August 2024, the port hosted 23 vessels for these services, a remarkable 53% increase compared to the 15 vessels during the…
Solidifying its position as a leader in sustainable finance, DFCC Bank has emerged as the first institution in Sri Lanka to issue a Senior, Rated, Unsecured, Redeemable Green Bond. This landmark move underscores its commitment to fostering environmental stewardship and promoting renewable energy. Subject to receiving approval, this historic bond issue will soon be made…
The Joint Apparel Association Forum (JAAF) called on the Sri Lankan government to urgently resolve ongoing challenges related to the issuance of short term business visas, which have been halted since August 2. JAAF noted that all official foreign business visitors, including buyers, machinery suppliers, and technical service providers, have faced significant hurdles entering Sri…
Taking into consideration the macro-economic developments, in particular the developments in domestic foreign exchange market conditions, Central Bank of Sri Lanka issued the “Repatriation of Export Proceeds into Sri Lanka Rules No. 01 of 2024” (Rules), which was published in the Gazette Extraordinary No. 2391/02 dated 01.07.2024, in terms of the Central Bank of Sri…
The Central Bank of Sri Lanka (CBSL) in collaboration with the Asian Development Bank Institute (ADBI) and the Asia-Pacific Applied Economics Association (APAEA), co-hosted the CBSL-ADBI-APAEA Macroeconomics Conference for the fifth consecutive year on 06 September 2024. This year’s conference theme was ‘Inflation and Exchange Rate Dynamics in Asia and the Pacific. Inaugurating the Conference,…
LOLC Advanced Technologies (LOLC AT), Australia, a subsidiary of LOLC Advanced Technologies (LOLC AT), Sri Lanka, has announced a strategic partnership with Khalifa University of Science and Technology in Abu Dhabi. This development builds on the Memorandum of Understanding signed in August 2023, which marked the official launch of the partnership between Khalifa University’s Research…
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