Sri Lanka’s proposed government debt restructuring plan should reduce funding and liquidity risk for non-bank financial institutions (NBFIs), says Fitch Ratings. The plan avoids direct impact on the local-currency government debt holdings of NBFIs and commercial banks, easing uncertainty over the entities’ capital, funding and liquidity profiles. Nonetheless, the proposal is only one aspect of…
The Financial Intelligence Unit (FIU) of the Central Bank of Sri Lanka organized an awareness program for the real estate sector on “Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Compliance Obligations and New Developments” on June 26, 2023. The keynote address was delivered by Dr. Nandalal Weerasinghe, Governor of the Central Bank of…
MAS Holdings, a global apparel & textile manufacturing and tech conglomerate, headquartered in Sri Lanka with a global footprint across 16 countries, secures a stake in HeiQ AeoniQ™ as part of its Plan for Change initiative to support the development of next-generation cellulosic filament fibers to replace polyester and nylon. HeiQ from Switzerland, leader in materials…
Sri Lanka’s leaders in progressive plantations management, Hayleys Plantations, announced the launch of the inaugural International Sustainability Summit – a forum bringing together local and global experts to share their expertise and showcase cutting-edge innovations with the potential to re-shape the plantations industry for decades to come. Bringing together leading voices from academia, government and…
Government-guaranteed interest on funds – Sri Lanka Banks’ Association The Sri Lanka Banks’ Association has emphasized that by optimizing domestic debt, the hard-earned funds of the working people in the country will be safeguarded from potential losses. During an interview on the ‘101 Katha’ program, Mr. Russel Fonseka, the Chief Executive Officer of the Bank…
Foreign Heads of Mission on Familiarization Tour of Sri Lanka’s Hill Country The Ministry of Foreign Affairs in collaboration with the Presidential Secretariat and the Sri Lanka Tourism Promotion Bureau organized the Ella Odyssey, a familiarization tour of Nuwara Eliya and Ella for foreign heads of mission in Colombo, and nine heads of mission based…
UNESCO recognized SL history chronicle “Mahavamsa” as a world heritage. It records island’s path as per the memories/ views of respective editors. Mahavansa describes in approx. half a paragraph about the services of King “Mahasen” who still is venerated by the masses as “God Mahasen”. The ‘Abayagiriya’ sthupa which is bigger than the ‘Ruvanweliseya’ is…
Reuters – Sri Lanka cut its key interest rates for the second consecutive month on Thursday as inflation tapered after last year’s devastating economic crisis and the focus returned to reviving economic growth following a bailout from the International Monetary Fund (IMF). The Central Bank of Sri Lanka (CBSL) cut its standing deposit facility rate…
The much awaited TAAI Convention 2023, hosted by the Travel Agents Association of India, in Collaboration with Sri Lanka Tourism Promotion Bureau (SLTPB) and Sri Lanka Association of Inbound Tour Operators (SLAITO) will kick off with a grand opening on 6th July at the BMICH , under the patronage of H.E President Ranil Wickramasinghe, who…
Both Sri Lankan the New Zealand Women’s Cricket teams were in for a pleasant surprise when they were treated to a sumptuous Sri Lankan themed dinner hosted by Sri Lanka Tourism, in Collaboration with the New Zealand High Commission in Sri Lanka on the 5th of July 2023, at the Cinnamon Grand Colombo. The Occasion…
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