What is Stock Borrowing and Lending (SBL)? Stock Borrowing & Lending (SBL) is a mechanism that is introduced by the Colombo Stock Exchange (CSE) through the Central Depository System (CDS) to facilitate the lending and borrowing of shares among investors. SBL involves connecting lenders of shares with borrowers for a pre-determined period and interest rate….
Calls for industry-led solutions to achieve market penetration and growth in the Digital Economy. The ‘INFOTEL Information Technology Exhibition,’ organized by the Federation of Information Technology Industry Sri Lanka (FITIS), kicked off at the Bandaranaike International Conference Hall (BMICH) today (03). This event, aptly themed ‘Fuelling the Digital Economy,’ aligns with President Ranil Wickremesinghe’s visionary…
Union Bank was able to continue a steadfast performance in the 9 months ended 30 September 2023 recording a notable improvement in the core banking performance with an overall income of LKR 17,314 Mn, a 36% increase over the comparative period. Net Interest Income (NII) was a key driver for the increase in the Bank’s…
In a significant event held in Colombo, the exchange of bilateral documents took centre stage, marking the initiation of projects supported by a generous USD 15 million grant from the Government of India. This grant is specifically allocated to bolster the longstanding Buddhist connections between India and Sri Lanka, underscoring the deep historical and cultural…
Both aviation and non-aviation companies are showing interest Indian companies have shown interest in acquiring a stake in SriLankan Airlines, an official overseeing the divestment of the government-owned carrier told businessline on Wednesday. On Tuesday, the Sri Lankan government issued a request for qualification for privatisation of its national carrier. Sri Lankan government holds over 99 per…
Allocates 600 Acres Overlooking Kothmale Reservoir for International Climate Change University. In a significant development, Sri Lanka is making notable strides towards combating climate change and transitioning into a green economy. Speaking at an international forum, President, Ranil Wickremesinghe, outlined the country’s ambitious plans for environmental sustainability and economic growth. The President made these remarks…
Reuters – FTX founder Sam Bankman-Fried was found guilty on Thursday of stealing from customers of his now-bankrupt cryptocurrency exchange in one of the biggest financial frauds on record, a verdict that cemented the 31-year-old former billionaire’s fall from grace. A 12-member jury in Manhattan federal court convicted Bankman-Fried on all seven counts he faced after a monthlong…
The Ceylon Chamber of Commerce raises concerns regarding the proposed increase of the Value Added Tax (VAT) to 18%. While recognising the government’s commitment to revenue enhancement in alignment with International Monetary Fund obligations, it’s imperative to evaluate the broader economic ramifications of such a decision. The current economic landscape, characterized by escalating income taxes,…
The International Education Forum, held as part of the INFOTEL 2023 ICT Exhibition, organised by the Education and Training Chapter of the Federation of Information Technology Industry Sri Lanka (FITIS), will kick start on Friday 3rd November at the Bandaranaike Memorial International Conference Hall (BMICH) in Colombo. To align with the initiative of His Excellency…
Two economists from Bloomberg, Messrs. Abhishek Gupta and Ankur Shukla shared their views on the economic outlook of Sri Lanka at a corporate event organised and hosted by the Commercial Bank of Ceylon recently as an activity of the Bank’s Trade Club. Many distinguished invitees attended the event at Kings Court, Cinnamon Lakeside. The two…
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