With Australian companies increasingly eager to explore investment opportunities in Sri Lanka, trade and investment promotion and facilitation activities can play a vital role in fast-tracking foreign direct investment, High Commissioner for Australia in Sri Lanka His Excellency Paul Stephens stated at a recent meeting at the Ceylon Chamber of Commerce. Stating that Australian companies…
Overseas buyer interest in Sri Lankan properties increased by 40% in 2022, compared with the year before, according to the Real Estate Market Outlook Report 2023, published by Sri Lanka’s leading real estate portal, LankaPropertyWeb. The report said that traffic from overseas countries such as the United Kingdom, Australia, the United States, Canada, and Middle-Eastern…
During the year under review, DFCC Bank remained committed to providing high-quality, customer-centric banking services across the country, despite facing unprecedented challenges and a volatile economic environment. As a result of this dedication, the Bank’s performance remained strong and resilient, though relatively modest compared to previous years. This can be attributed to three contributory factors…
Reuters – Meta Platforms (META.O) on Sunday announced that it is testing a monthly subscription service, called Meta Verified, which will let users verify their accounts using a government ID and get a blue badge, as it looks to help content creators grow and build communities. The subscription bundle for Instagram and Facebook, to be launched later…
Sri Lanka Satisfaction has declined. Verité Research releases the results of the “Mood of the Nation” poll for February 2023 Another round of the Gallup Style “Mood of the Nation” poll was conducted in early February 2023 by Verité Research. It assessed the approval, satisfaction, and confidence of the nation in relation to the government,…
President Trump in 2017 offered an alternative to China’s Belt and Road (BRI) & invited others to create the QUAD. By 2018 the Indo Pacific region was the topic on the tables in the US. Then France was shown the door but the submarines. In 2020 COVID – 19 affected all. While Trump called it…
Backed by its solid capital base and prudent risk fundamentals, Sampath Bank continued to prove its ability to navigate itself prudently during this unprecedented economic crisis. The combined impact of the recurring foreign exchange shortages coupled with the steep LKR depreciation resulted in a shortage of essential food, medication, fuel and gas. This, together with…
Sri Lanka Telecom Group (SLT Group), the National ICT Solutions Provider, posted impressive overall growth with annual revenue surpassing Rs 100 Bn once again, recording Rs 108 Bn for the financial year 2022. This resulted in the Group recording a revenue increase of 5.2% for the financial year 2022, strengthened by a healthy bottom line…
Reuters – U.S.-based investment firm BlackRock said on Friday it would join a new sovereign debt roundtable set up to accelerate progress on stalled relief efforts for distressed countries, with Britain’s Standard Chartered also joining, according to sources. The Global Sovereign Debt Roundtable, chaired by the International Monetary Fund, the World Bank and India – this…
(Reuters) – The International Monetary Fund (IMF) is considering approving a loan for Sri Lanka, even without China’s assurance of debt-restructuring support, Bloomberg News reported on Friday. Under a rarely used policy, the global lender may consider approving the island nation’s loan, as the only prerequisite hindering the go-ahead is China’s formal assurance, Bloomberg reported,…
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