The overall rate of inflation as measured by Colombo Consumer Price Index (CCPI) on year-on-year basis has increased to 6.4% in January 2024 from 4.0% in December 2023, according to the latest data from the Census & Statistics Department (DCS). The CCPI for all items for the month of January 2024 was 200.7 and it records an…
Fitch Ratings – A new directive that Sri Lankan non-life insurers remit 100% of motor insurance strike, riot, civil commotion and terrorism (SRCCT) premiums to state-owned National Insurance Trust Fund Board (NITF, BBB(lka)/Stable) should benefit NITF while the underwriting profitability of non-life insurers is likely to worsen, says Fitch Ratings. However, the effect on non-life…
Two companies from China and India have been pre-qualified for the Request for Proposal (RFP) stage of the divestiture of the majority stake in the state-owned Sri Lanka Telecom PLC (SLT), according to the Sri Lanka’s Finance Ministry. The Government of Sri Lanka (GOSL) acting through the Ministry of Finance, Economic Stabilization and National Policies,…
The Pekoe Trail Profiled Among “Top 20 Travel Destinations for 2024,” According to National Geographic’s Global Editorial Teams National Geographic announced their picks for BEST OF THE WORLD 2024, the brand’s annual guide of the most exciting, meaningful, and one-of-a-kind travel experiences for 2024. The Pekoe Trail, Sri Lanka was selected in the “Top 20…
Attorney-at-Law Rajeev Amarasuriya, Former Secretary of the Bar Association and Accountant, was appointed to the Governing Board of the Central Bank by President Ranil Wickremesinghe upon having received the approval of the Constitutional Council. Rajeev Amarasuriya is the Immediate Past Secretary of the Bar Association of Sri Lanka and has an extensive Appellate Court practice…
Selyn, a women-led handloom business, offers flexible employment and valuable income opportunities to about 1,000 women artisans and persons from marginalized groups in rural Sri Lanka. Selyn develops and exports high-value craft products in global markets. The bigger revenue margins of quality products translate into better incomes for women artisans. Thanks to its pioneering use…
Heritance Hotels and Resorts, the premier flagship brand of Aitken Spence Hotels, unveiled the Trails of Bawa Tour during the Galle Literary Festival held recently. This captivating journey was unveiled at the session titled ‘Preserving and re-narrating modern Sri Lankan cultural histories’, featuring the insights of Channa Daswatte, Sunela Jayewardene, and Johann Peiris, proudly sponsored…
NDB Bank, a stalwart in the financial industry, is delighted to announce the appointment of Mr. Kelum Edirisinghe as the Director/Chief Executive Officer, effective from February 1, 2024. Bringing with him an illustrious career spanning 30 years, Mr. Edirisinghe joins NDB after a distinguished tenure with HSBC Sri Lanka and Maldives. His wealth of experience…
The barometer of corporate sentiment comes under pressure amid multiple sensitivities The Annual Policy Statement 2024 claims that the nation has confronted its most challenging economic and societal difficulties in the post-independence era in recent years. It states that policy measures have played a pivotal role in restoring stability – albeit at a socioeconomic cost….
Sri Lanka took a significant step towards its Digital Public Infrastructure (DPI) initiative with a recent workshop hosted by the Presidential Secretariat in partnership with the World Bank. The event brought together key stakeholders from organizations like MOSIP, NPCI, the Gates Foundation, and the government to share knowledge, best practices, and innovative approaches for setting…
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