Reuters – Crypto exchange Binance.US said on Thursday it is suspending U.S. dollar deposits and that its banking partners are preparing to pause fiat dollar withdrawal channels as early as June 13, just days after U.S. regulators sued Binance and its CEO Changpeng Zhao. The U.S. arm of the world’s largest crypto exchange said in a tweet…
Reuters – The International Monetary Fund on Thursday urged the U.S. Federal Reserve and other global central banks to “stay the course” on monetary policy and remain vigilant in combating inflation. IMF spokesperson Julie Kozack said inflation momentum has slowed in the United States, but remained a pressing concern. “If inflation does prove to be…
Fuels Sri Lanka’s Business Landscape and Trade Commitments In an effort to accelerate trade facilitation commitments and bolster the business landscape in Sri Lanka, a high-level review of the National Trade Facilitation Committee (NTFC) was conducted Wednesday (7). Chaired by the Secretary of the President at the Presidential Secretariat, the meeting involved the participation of…
Reuters – Sri Lanka and Thailand could sign a free trade agreement (FTA) by March, a top official of the Indian Ocean nation told Reuters on Wednesday, as it attempts to rebuild its crisis-stricken economy. The two nations restarted deal negotiations in January, months after a severe financial crisis engulfed Sri Lanka, as its foreign exchange reserves…
Land Price Index 2023 According to the 2023 Land Price Index (LPI) developed by LankaPropertyWeb (LPW), Colombo city land prices have shown a 9% increase since the previous year, while the rest of Colombo district, along with Gampaha and Kalutara districts have shown marginal increase or decrease. Overall, Western province has shown a 2% increase…
Strong local providers are a must for efficient humanitarian response; Red Cross disaster report finds. The International Federation of Red Cross and Red Crescent Societies (IFRC) launched the World Disasters Report (WDR) 2022 in Sri Lanka, in the presence of the movement’s leaders for South Asia. The Sri Lanka Red Cross Society (SLRCS) hosted the…
hSenid Business Solutions (hBS) reported its results for the period ended 31March 2023, with revenues up 32.7 percent year-over-year for FY23. Topline growth was supported by its core PeoplesHR Cloud offering, followed by Tracking Solutions. Recurring revenues accounted for 49.0 percent, driven by PeoplesHR Cloud. Region-wise, APAC and Sri Lanka contributed strongly to topline growth….
Encouraging Sri Lanka’s next generation of entrepreneurs, The Ceylon Chamber of Commerce, and the International Labour Organization Launch SPARK: Youth Entrepreneurship Competition 2023 The Ceylon Chamber of Commerce, in collaboration with the International Labour Organization (ILO) is pleased to announce the launch of SPARK – a national youth entrepreneurship competition for Sri Lanka’s next generation…
In a bid to address the foreign exchange crisis in Sri Lanka and ensure a steady supply of fuel, the Ministry of Power and Energy has taken decisive action. Accordingly, an agreement was signed today at the Presidential Secretariat, between the Government of Sri Lanka and RM Parks Inc., a prominent international company operating in…
The Asian Development Bank (ADB) has approved the eligibility of Sri Lanka to access concessional financing. The availability of concessional assistance, offered at low interest rates, broadens Sri Lanka’s options to bridge its urgent development financing needs to restore economic stability and deliver essential services, particularly to the poor and vulnerable. Eligibility for concessional resources among…
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