Fitch Ratings: The refinancing risks of Fitch-rated APAC emerging market (EM) non-bank financial institutions (NBFIs) in China, India, Indonesia and Sri Lanka remain modest in aggregate despite higher reliance on short-term debt than other regions and high US dollar interest rates, Fitch Ratings says in a new report. We estimate total debt maturing in 2024…
Sri Lanka’s tourism industry is experiencing a robust recovery, with total earnings reaching US$1,556.6 million in the first half of 2024, marking a 77.9% increase compared to the same period in 2023, when earnings were $875 million, according to the Central Bank of Sri Lanka. June 2024 saw an influx of 113,470 tourists, generating $151.1…
Commercial Bank Bangladesh, the Bangladesh operation of Commercial Bank of Ceylon PLC, has received a ‘AAA’ (Triple A) Long Term credit rating from Credit Rating Information and Services Ltd (CRISL) for 2024, the 14th consecutive year it has received the highest credit rating given to a financial institution in Bangladesh. Valid till June 2025, the…
In light of the recent communication regarding the removal of the exception on the export of services, we, the Sri Lanka Association of Software and Services Companies (SLASSCOM), the Federation of Information Technology Industry Sri Lanka (FITIS), the BCS Sri Lanka Section (BCS), and the Computer Society of Sri Lanka (CSSL) share our collective thoughts…
The Central Bank of Sri Lanka (CBSL) has implemented a new mandate requiring all depositors at licensed banks and finance companies to provide unique identification numbers. Initially effective from October 1, 2022, this requirement has been updated with new Operating Instructions issued in May 2024 under the Banking (Special Provisions) Act, No. 17 of 2023….
BYD celebrated the inauguration of its Thailand plant and the production of its 8 millionth new energy vehicle in Rayong, Thailand, marking two milestones in the company’s global expansion. The ceremony was attended by Ms. Pimphattra Wichaikul, Thailand’s Minister of Industry; Mr. Han Zhiqiang, Chinese Ambassador to Thailand; Mr. Narit Therdsteerasukdi, Secretary General of Thailand…
Cable Solutions Limited (CSLK), one of Sri Lanka’s leading specialised integrated cable manufacturer, stands at the forefront of innovation in the cable manufacturing industry. As CSLK prepares for its initial public offering (IPO), it presents an excellent value opportunity for investors eager to capitalise on a company with a robust growth trajectory and a commitment…
Five leading Sri Lankan maritime service providers recently showcased the nation’s maritime capabilities at Posidonia 2024, the world’s largest shipping exhibition, which was held in Athens, Greece, in June 2024. This biennial event attracts global industry leaders, and this year, Sri Lanka made a presence with its comprehensive display of maritime services, reinforcing its status…
Over 73,000 Receive Freehold Land Rights in Kurunegala District through “Urumaya” Program. Granting land rights to the people embodies real socialism. I assumed leadership during a period when no other leaders were willing to step up. The government, which successfully steered the country away from bankruptcy, is now addressing the people’s challenges. Kurunegala’s new development…
National Development Bank PLC, as the “trend setter” in the industry, proudly announces its landmark achievement as the first Sri Lankan bank to be certified to the latest ISO 27001:2022 for their Information Security Management System (ISMS). This prestigious certification underscores NDB’s commitment to uphold global standards and protect the information assets of the bank’s…
Video Story
