Great importance was given to the African continent in the Presidential announcement on the 75th anniversary of independence where President Ranil Wickremesinghe met with the envoys from the African region. The meeting was organised by the Ministry of Foreign Affairs on 3rd February 2023 at the Presidential Secretariat. To coincide with the momentous occasion Mr….
nvestors are betting that Sri Lanka will win final approval for about $2.9 billion bailout from the International Monetary Fund on Monday, a key step for the bankrupt nation to revive its economy from the worst crisis in decades. The South Asian nation’s dollar bonds have returned 20% this year, the top performers in the…
Reuters – International Monetary Fund Managing Director Kristalina Georgieva will travel to China from March 24 to March 30, IMF sources told Reuters on Friday. Georgieva will deliver a keynote speech at the China Development Forum (CDF) in Beijing on March 26, and speak at the Boao Forum for Asia Annual Conference on March 30…
With regard to the captioned matter, we would like to clarify that we have not received any direct or indirect requests or instructions from any state institution to close their accounts with us. We wish to strongly emphasize that People’s Bank has always been a trusted partner for state organizations in providing reliable banking services,…
First 100 customized e-cycles handed over to delivery partners Yet another Uber initiative to promote sustainability on its platform Customized, delivery-friendly e-cycles: Range of 100+ km and top speed of 30 km/hr Uber Eats, Sri Lanka’s most loved food and grocery delivery platform, today brought on board 100 electric cycles on its platform. The e-cycles…
Direct exposures to Silicon Valley Bank (SVB) and Signature Bank among Fitch Ratings’ portfolio of rated banks in APAC appear limited, says Fitch. Weaknesses that contributed to the failure of the two banks are among the factors already considered in our rating assessments for APAC banks, but these are often offset by structural factors, such…
Reuters – Sri Lanka will introduce new central bank legislation with the intent of improving independence, accountability and price stability in the country, central bank governor Nandalal Weerasinghe said on Thursday. Sri Lanka is waiting for a $2.9 billion bailout program from the International Monetary Fund (IMF) to be finalised on March 20 and establishing…
The gradual recovery in economic activities which was observed in the year of 2021 when compared to the year 2020, along with the reducing of the COVID-19 pandemic, reversed the direction of performance of many economic activities and resulted in contraction of the whole economy. This is mainly caused by the deepening of the economic…
State Minister of Finance Shehan Semasinghe The on-going information survey and verification process for the verification of 1.1 million welfare benefit applications has been completed, according to State Minister of Finance Shehan Semasinghe. The highest verification rate of the 1.1 million welfare benefit applications is in the Kalutara District at 46%, followed by the Badulla…
The Sri Lanka Export Development Board (EDB) recently conducted an awareness seminar on “Facilitation of agricultural exporters under the Temporary Import for Export Processing (TIEP) Scheme”with the participation of 85 export companies from the agricultural sector. The main objective of conducting this awareness seminar by the EDB was to create awareness regarding the TIEP scheme…
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