Business Sentiment -Business Confidence in a Tailspin Biz confidence has nosedived. And we may have to tighten our seatbelts and prepare for a hard landing when businesspeople take cognisance of the budget proposals presented in parliament on 13 November. For the time being, we note that Fitch Ratings has raised concerns about the proposals, asserting…
Charting a Path Forward: President Wickremesinghe Urges Action in the Face of Alarming Climate Predictions. In a compelling address at the 28th session of the Conference of Parties (CoP28) to the United Nations Framework Convention on Climate Change (UNFCCC) in Dubai, UAE Friday (01), President Ranil Wickremesinghe acknowledged the historical significance of the UN Conference…
Sampath Bank PLC, third largest private bank in Sri Lanka, announced the appointment of Mr. Prabhash Subasinghe to its Board of Directors, effective from December 1, 2023. This decision, ratified during the board meeting on November 30, 2023, was made under the recommendation of the Board Nominations and Governance Committee, following the necessary regulatory approvals,…
A group of creditors holding Sri Lanka’s international bonds said on Friday it welcomed the country’s debt restructuring agreement with official creditors, though said a lack of transparency on deals struck so far was regrettable. Sri Lanka and a group of its creditor nations, including Japan, France and India, on Wednesday reached an agreement in…
In a groundbreaking move towards modernization and convenience, Peoples Bank has proudly announced the successful implementation of a cutting-edge payment acceptance solution for the Ministry of Justice. This transformative initiative allows the public to pay fines imposed by courts seamlessly through digital payment methods such as Credit Cards and Debit Cards. The Memorandum of Understanding…
John Keells Properties, the country’s largest developer, has played a pivotal role in shaping Sri Lankan real estate, delivering notable successes such as The Emperor, The Monarch, 7th Sense, OnThree20, TRI-ZEN, including their latest VIMAN project, and Cinnamon Life, hailed as the largest private sector investment in Sri Lanka. According to Nayana Mawilmada, President, Property…
The United States Agency for International Development (USAID) , in collaboration with the Public Utilities Commission of Sri Lanka (PUCSL), launched the Electricity Dispatch Database and Dashboard, an online platform to enhance transparency in the management of Sri Lanka’s power distribution through a visualization platform. Developed and funded by USAID’s Sri Lanka Energy Program, the…
Sri Lanka’s fastest-growing digital payment brand, HelaPay, announced that it has crossed Rs. 1 Billion in total transactions through its innovative payment method. This landmark milestone underscores Helapay’s rapid ascent in the local financial technology sector, having accomplished this feat in just two years since its launch in 2021. Introduced by Helakuru, Helapay has been…
Dr. P. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, attended, by invitation, the Economic Dialogue Series held in Berlin under the theme “Inflation Kills Democracy: Fiscal Rationality as the basis of Functioning Communities” on 21 November 2023. This event was organised by the Federal Ministry of Finance, Germany. Governor Weerasinghe presented Sri…
Bloomberg – Sri Lanka’s inflation accelerated in November for a second straight month as energy tariffs were raised to keep the International Monetary Fund’s $3 billion bailout on track. The consumer price index in Colombo rose 3.4% from a year ago, the statistics department said on Thursday. That’s faster than 3.0% gain seen in a Bloomberg survey, and compared…
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