In a recent agreement, the United States through the United States Agency for International Development’s CATALYZE Private Sector Development (PSD) Activity has extended support to Union Bank, enhancing the bank’s efforts to foster its women-focused financial services. This impactful collaboration will promote financial inclusion by addressing the specific needs of female customers in the banking…
The Ceylon Motor Traders’ Association (CMTA) made a statement claiming that the newly imposed VAT on used vehicles, has supported the creation of a black market in the industry, while increasing the market prices of used vehicles which is hurting the common man of the country. The recent implementation of VAT has stirred concerns in…
The Monetary Policy Board of the Central Bank of Sri Lanka, at its meeting held on 22 January 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 9.00 per cent and 10.00 per cent, respectively. The Board arrived…
Reuters – Sri Lanka’s consumer price inflation rate rose to 4.2% year-on-year in December from 2.8% in November, the statistics department said on Monday. The National Consumer Price Index (NCPI) (LKNCPI=ECI) captures broader retail price inflation and is released with a lag of 21 days every month. Food prices rose 1.6% in December after falling 2.2% in…
IFC, a member of the World Bank Group, has appointed Imad N. Fakhoury as Regional Director for South Asia. Based in New Delhi, Fakhoury will spearhead IFC’s strategy and operations, while reinforcing relationships with the private sector, governments, and regional partners to boost impactful development outcomes in the region. “Fueling economic growth and job creation…
Sri Lanka’s State Minister of Technology, Kanaka Herath, and the newly appointed Indian High Commissioner to Sri Lanka, Santosh Jha, met on Friday at India House in Colombo to discuss strengthening bilateral ties and collaboration in the technology sector, particularly around Sri Lanka’s Unique Digital ID project. The meeting, held at High Commissioner Jha’s invitation,…
The company is reported to have invested close to ₹3,000 crore in the Sri Lankan luxury property, which is being set up under a subsidiary WelcomHotels Lanka ITC’s Hotel Group, one of India’s leading luxury hotel chains, is gearing up to launch its first international luxury hotel, which is coming up in Sri Lanka, within…
Contemporary International Debt Settlement Model deemed inappropriate in the present context. Developing Nations Unduly Affected by Current System – Revealed President Wickremesinghe at the 3rd South Summit of G77 + China. President Ranil Wickremesinghe addressing the 3rd South Summit Sunday (21) in Kampala, Uganda, highlighted the numerous challenges the world faces, such as conflicts, pandemic…
Mr. Shamindra J. M. Marcelline has notified of his intention to resign from the position of Chief Executive Officer/General Manager of People’s Leasing & Finance with effect from 01st April 2024 in order to pursue his future career plans. The notice of resignation has been accepted by both the Nomination and Governance Committee and by…
MOU on visa exemption for holders of diplomatic, official and service passports is set to be signed between the two nations. The PM of Ethiopia extends congratulations to Sri Lanka for its swift economic recovery. Bilateral discussions were held Friday (19) between President Ranil Wickremesinghe and Vice President of the Republic of Benin Ms. Mariam…
Video Story
