First Capital Research believes that the Central Bank of Sri Lanka (CBSL) will maintain same policy stance in this monetary policy review, but given the concerns around economic growth, the research arm stated that there is a probability although to a lesser extent that CBSL is likely to further ease its policy rates. ” The CBSL either…
Making a great initiative to start the New Year 2021, Sri Lanka Deputy High Commission in Chennai organized a business interaction session with industry professionals who have been operating in legal, film and investment sectors in South India. The objective of the session was to make the professionals aware of business and investment opportunities available…
Foreign Minister Dinesh Gunawardena has sought the assistance of Honorary Consuls based in Colombo to encourage foreign investors to invest in Sri Lanka. The Minister made this request at a meeting held on 11 January 2021 with the Honorary Consuls based in Colombo, at the Foreign Ministry. The meeting was held in compliance with the Covid-19 health guidelines. Minister Gunawardena further reiterated the importance of…
The Monetary Board of the Central Bank of Sri Lanka (Monetary Board) has decided to cause Director, Supervision of Non-Bank Financial Institutions to make an application to a competent court for the winding up of ETI Finance Limited (ETIF), in terms of Section 31(5)(b) of the Finance Business Act, No. 42 of 2011 (FBA). Due…
The Monetary Board of the Central Bank of Sri Lanka has made an order permitting Swarnamahal Financial Services PLC (SFSP) to resume business notionally for a limited purpose and limited time under the supervision of the Panel of Management appointed by the Monetary Board (Panel of Management), subject to several strict conditions. The permission has…
In an effort to provide improved access to critical working capital for Sri Lankan businesses impacted by the COVID-19 pandemic and to help preserve jobs, IFC, a member of the World Bank Group, is providing a $25 million loan to Nations Trust Bank (NTB). The financing package, which will be used by NTB to help…
The Cabinet approved the proposal submitted by the Minister of Plantation for entering into a Memorandum of Understanding (MoU) between Sri Lanka Tea Board and Fujian Star China International Trade Company Limited for marketing Pure Ceylon Tea both online and offline utilizing the probabilities in Chinese tea market. Fujian Star China International Trade Company Ltd…
The Cabinet of Ministers has approved the proposal submitted by the Minister of Plantation to import coconut kernel for the local coconut kernel-related industries under the same conditions applicable at the previous instance if the bi – monthly coconut production is continuously below the margin of 400 million coconuts within 04 months, the state information office said. Cabinet…
As a part of LOLC Group’s global strategy to attract investors to the large finance companies it has created, LOLC Holdings PLC, one of the leading listed companies in Sri Lanka is creating a platform to enable potential investors to acquire a minority stake in the finance companies it owns. In a stock exchange filing today…
Extends moratoriums on 81,387 loans with a total capital outstanding of Rs 443 billion during first and second waves Launches omni-channel Digital Banking platform and WhatsApp Banking facility Completes series of community initiatives to celebrate 100-year history The Commercial Bank of Ceylon provided new concessionary lending of nearly Rs 30 billion in 2020, its centenary…
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