The Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) are pleased to announce the introduction of a Delivery vs Payment (DVP) system for stock market transactions. The Go Live is scheduled for 26th July 2021 subject to a final round of testing and industry wide mock runs. The objective…
Closely following the recent developments from its security perspective, says MEA on the China-backed project The Hindu – With Sri Lanka moving ahead with the China-backed Colombo Port City project, India on Thursday, June 17, 2021 said it expects that the island nation will remain mindful of their “excellent bilateral cooperation”, including for mutual security in…
By Tharindu Udayanga The COVID-19 pandemic exerted significant downward pressure on global trade as well as the global economy at large. Unprecedented declines in merchandise trade, foreign direct investment (FDI) flows, tourism and cross-border migration have all been hallmarks of the economic fallout. As a result, growth expectations for countries worldwide dimmed. Nonetheless, thanks in…
NDB Bank becomes the first player in the banking industry to tie up with the Credit Information Bureau (CRIB) in order to create a hassle free and convenient method in which the Bank’s customers can register and request for their individual credit reports (iReport) and individual credit score reports (CRIB Score) from wherever they are…
Sri Lanka’s external sector exhibited a mixed performance in April 2021. The deficit in the trade account widened for the second consecutive month in April 2021 compared to a year earlier while earnings from the tourism sector remained subdued. Notably, both exports and imports were significantly higher in April 2021, compared to April 2020, although…
The Korean Ambassador to Sri Lanka Woonjin Jeong assured the Foreign Minister that the facilities required for the Sri Lankan youth who are eligible for employment in Korea to travel to Korea will be provided shortly. He was speaking at a discussion on the delays faced by young people who are eligible for jobs in…
The National Food Systems Dialogue was organized by the Ministry of Agriculture to identify challenges in building sustainable food systems in Sri Lanka, ranging from production, processing, distribution, consumption and disposal of food products. Minister of Agriculture, Mahindananda Aluthgamage in his message to the participants of the National Food System Dialogue stated that despite Sri…
Sampath Bank PLC announced that it had recently concluded the structuring and investment of an unquoted, secured, non-convertible, deep-discounted bond issuance for LVL Energy Fund PLC. The Rs.750 million instrument was tailor-made by Sampath Bank’s Corporate Finance Unit to suit the unique characteristics and financing needs of LVL Energy Fund PLC. Sampath Bank was the…
Energy Security to the Nation The Ceylon Petroleum Corporation (CPC) signed a Memorandum of Understanding with the Hambantota International Port Group (HIPG), last week to develop Hambantota Port as a strategic energy center in Sri Lanka. The signing ceremony was held at the Ministry of Energy, with top officials of CPC and HIPG participating. A…
The COVID-19 crisis can be an opportunity for Sri Lanka to push forward policies that will enable the country to build back better with stronger measures to attract much-needed Foreign Direct Investment (FDI). Faris Hadad-Zervos, World Bank Country Director for Sri Lanka, Nepal and Maldives speaking during a panel discussion at the virtual Sri Lanka Investment…
Video Story
