In a virtual address during the Leader’s Session of the Second Voice of Global South Summit, President Ranil Wickremesinghe expressed gratitude to Prime Minister Narendra Modi for the invitation, acknowledging India’s pivotal role in organizing the event. The summit was inaugurated by Prime Minister Modi and attended by distinguished leaders from various developing countries. Reflecting…
Composition of the Governing Board and the Monetary Policy Board of the Central Bank of Sri Lanka In terms of the provisions of the Central Bank of Sri Lanka (CBSL) Act, No. 16 of 2023, the Governing Board (GB) of CBSL has been established as the body responsible for overseeing the administration and management of…
Reuters – Amazon (AMZN.O) will begin selling Hyundai (005380.KS) vehicles online in the U.S. starting next year, the two companies said on Thursday. Customers will be able to shop for, equip and buy a car at Amazon.com and schedule delivery through a local Hyundai dealer, the companies said. The agreement is an expansion of a deal announced two years…
Bloomberg – Sri Lanka’s central bank chief said the government has shared the terms of a $4.2 billion China debt deal with other creditors — a key sticking point with countries like India — paving the way for more loans from the International Monetary Fund. Governor Nandalal Weerasinghe said he hopes the official creditors committee,…
Heineken International B.V. (HEINEKEN) has signed an agreement with Distilleries Company of Sri Lanka PLC (DCSL) today (17). DCSL is a Public Limited Liability Company and is listed on the Colombo Stock Exchange (CSE). Under this agreement, HEINEKEN will sell all its shares in HEINEKEN Lanka Limited to DCSL and agree to Trademark Licence Agreements…
The SLT Group released its financial results for the third quarter ending September 30, 2023, presenting moderate growth. SLT PLC reported a revenue of LKR 17,490 Mn with a growth of 3.7%, while Mobitel recorded 2.7% de-growth during Q3’23 compared to Q3’22. The Group’s consolidated revenue for the quarter increased by 3.9% to LKR 27.7…
The Hambantota International Port (HIP) was the sole representative from South Asia, at the recently held “2nd Port Development South East Asia Summit” (PDSEAS 2023) in Vietnam. The summit which brought together 30 industry leaders and over 200 senior executives from various related sectors, including government agencies, port authorities, port & terminal operators, shipping companies,…
In a resolute commitment to catalyzing Sri Lanka’s vibrant Startup Ecosystem, the Information and Communication Technology Agency (ICTA) of Sri Lanka proudly announces the renewal of its partnership with Brandix Apparel Limited for the second consecutive year. This strategic alliance aims to significantly bolster startups by providing essential funding and fostering their swift expansion. The…
Deloitte Sri Lanka, part of the international auditing, consulting, and financial advisory giant, Deloitte Global, held a special “Budget Night” panel discussion on Sri Lanka’s Government Budget 2024, on the 13th of November 2023, soon after the Budget was presented to parliament by President Ranil Wickremasinghe, as the Minister of Finance. The panel comprised Dr….
Tight liquidity and funding conditions, uncertainty about China’s macroeconomic outlook and property sector, and geopolitical event risk remain the core macro-credit risk themes heading into 2024, Fitch Ratings says in the latest version of its Risk Headquarters report. Despite recent data signalling continued disinflation in major developed economies, the continued resilience of the US consumer…
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