The Commercial Bank of Ceylon has signed a milestone agreement with the Seoul-headquartered Global Green Growth Institute (GGGI), a leading international inter-governmental technical advisor on sustainable finance initiatives. The Memorandum of Understanding (MoU) ratified by the two entities sets the stage for a sustainable finance collaboration programme, and enhances Commercial Bank’s readiness to mobilise green…
People’s Leasing & Finance PLC (PLC) has successfully concluded the financial year 2022/23 with an impressive profit after tax (PAT) of Rs. 3.02 billion. Throughout the year, PLC’s performance exhibited resilience and strength, contributing to this outstanding achievement. Despite challenges in the operating context during the first two quarters, the company’s performance notably improved from…
Sampath Bank, among Sri Lanka’s leading financial institutions, has been honoured with the esteemed “Best Bank in Sri Lanka” award by Euromoney for the year 2023. This recognition acknowledges the bank’s remarkable achievements, reaffirming its commitment to excellence in the banking industry. The accolade was presented to Sampath Bank’s Managing Director, Ayodhya Iddawela Perera during…
By The Coca-Cola Company, Managing Director – Sri Lanka & the Maldives, Pankaj Sinha Coca-Cola, with its 62-year presence in Sri Lanka, has remained committed to supporting this beautiful country through its challenges. As someone who has made Sri Lanka his home since 2019, and seen the country grapple with natural disasters, acts of terrorism, and…
Reuters – A helping hand from China saw Argentina avert a default with the International Monetary Fund for the second time in 30 days, as the cash-strapped country tapped almost $3 billion of a Beijing currency swap line to pay the multilateral lender. Accessing yuan to make the payment not only offered a lifeline to…
Dijital Team, a global leader in providing smarter offshoring solutions for IT teams, officially launched operations in Sri Lanka recently. Driven by an aim to empowering team members to reach their full potential and make a positive impact on lives, the company’s commencement was marked by the signing of a Memorandum of Understanding (MOU) with…
The Central Bank of Sri Lanka (CBSL) wishes to clarify certain misrepresentations of facts currently circulating in the public domain on Indian Rupee (INR). CBSL from time to time, authorises selected foreign currencies as designated foreign currencies with a view to facilitating international trade and cross-border banking transactions. Commencing May 1979, CBSL has occasionally recognised…
In an uncertain economic landscape, companies have accepted environmentally sustainable business models as an effective way of utilizing resources and reducing waste at the time of consumption. Breaking away from the linear “take-make-dispose” concept has been challenging due to high costs and a lack of information and technology required to transform production. The traditional linear…
The 1st of August, 2023, marks the 44th anniversary of the Sri Lanka Export Development Board (EDB). The EDB was established in 1979 with the objective of establishing a strong government-level institutional framework to develop and promote Sri Lanka’s exports in order to integrate with the global economy consequent to the adoption of liberal economic…
The first six months of the year marked improvements to Sri Lanka’s macro-economic landscape with inflation continuing to decrease and the IMF bailout followed by the Domestic Debt Optimization (DDO) announcement. During the 1H2023, the Bank recorded significant improvement in the core banking performance and posted an overall income of LKR 11,729Mn, which is an…
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