Envoy, Sri Lanka’s international brand and the premier brand of Hameedia that is synonymous with style and quality, has officially expanded into the Middle East with the recent opening of the Envoy Dubai showroom in Festival Mall in Dubai. The launch event was graced by the presence of Chief Guest Yaqoob Al Ali – Executive…
Sri Lanka’s leading private sector bank HNB PLC was selected as a partner financial institution by the Asian Development Bank (ADB) to disburse a component of the US$ 13.5 million in funds allocated to the SME-Line of Credit (SMELoC) Emergency Response Scheme. The ADB scheme aims to support and strengthen Sri Lankan MSMEs affected by…
The third quarter of 2022 witnessed continued challenges to the Banking sector amidst mixed sentiments and subdued economic activity despite a staff level agreement with the IMF. The economy continued to depend on the banking sector for immediate respite for the import of essentials including fuel. Progress and credit growth of Banks continued to be…
Fitch Ratings – Sovereigns are being targeted with increasing frequency by cyberattacks, and authorities are devoting more resources to defending against them, with the greatest threats from cyber-capable states and criminal groups sheltered by them, Fitch Ratings says in a new report. Russia’s invasion of Ukraine in February 2022 and the US-led sanctions response have…
Several Business Chambers in a joint statement note with concern that some organizations have called for mass protests on 2nd November. While recognizing their freedom of speech and right to express views, the Chambers request all parties to call off protests of this nature that could undermine the efforts being taken to resolve the current…
Fulfilling its IPO objective and keeping its pledge to investors, JAT Holdings PLC recently unveiled and commissioned into operation an end-to-end manufacturing, warehousing and laboratory facility in Bangladesh. Strategically located, the new plant offers efficient and easy access to JAT’s two key markets in Bangladesh, Dhaka and Chittagong, together with quick and easy access to…
Last week, the Embassy of the Kingdom of the Netherlands and the International Water Management Institute (IWMI) hosted a high-level dialogue for stakeholders from the Sri Lankan and Maldivian government, private sector, banks, academia and civil society. The Joint Climate Change Dialogues are a series of events organized by the Netherlands embassy focused on preparing…
The Securities and Exchange Commission of Sri Lanka (SEC), the Colombo Stock Exchange (CSE), and the International Finance Corporation (IFC), in partnership with the Australian Government, conducted the second Investor Forum of the year in Galle at Radisson Blu Resort as part of the series of events to celebrate the sixth World Investor Week (WIW)…
President Ranil Wickremesinghe noted that the government is aiming at an agriculture modernization programme in which tea will have a prominent place. He said that the country has a very competitive tea industry that needs to be developed. Addressing the 32nd Annual General Meeting of the Sri Lanka Tea Factory Owners Association at the Water’s…
Consumer price gains peak as crippling shortages ease Central bank has paused after 950 basis point hikes this year Bloomberg – Sri Lanka’s inflation slowed in October for the first time in a year as shortages of food and fuel eased. The consumer price index in the capital Colombo cooled to 66% from a year…
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