Reuters – Sri Lanka’s central bank governor said on Thursday he will stay on as head of the bank given an improvement in political stability in the midst of an economic crisis, and he would not step down as he had earlier said he would. Governor P. Nandalal Weerasinghe also said the Central Bank of…
Records a Profit After Tax (PAT) of LKR 1.1 Bn in the quarter ended March 31, 2022 Seylan Bank PLC recorded a Profit After Tax (PAT) of LKR 1.1 Bn in Q1 2022, maintaining its forward momentum in a period of volatile macroeconomic challenges. The Bank capitalized on its strong fundamentals with capital adequacy ratios…
The IT/BPM sector in Sri Lanka has witnessed a continuous trajectory of growth and has been a significant contributor to the country’s export revenue. Sri Lanka Association for Software Services Companies (SLASSCOM)has been the key driving force for the industry, helping to catapult the IT/BPM sector to the next level of growth and innovation through…
The Sri Lanka High Commission in South Africa, in collaboration with Sri Lanka Export Development Board (EDB) and the Mozambique Chamber of Commerce & Industry concluded a successful virtual meeting on May 10, 2022, regarding Construction, Engineering Services and Renewable Energy Project opportunities available in Mozambique for Sri Lankan companies. Mr. Alvaro Massingue, the President…
Reuters – Running out of petrol, medicines and foreign reserves, once-booming Sri Lanka is in a mess. And the measures needed to pull its economy out of the unparalleled crisis are likely to bring even more pain. The dire assessment by new Prime Minister Ranil Wickremesinghe this week of the island nation’s economic plight was…
The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 18 May 2022, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at the current levels of 13.50 per cent and 14.50 per cent, respectively. The Board is of…
Reuters – U.S. investment bank JPMorgan backed Sri Lanka’s crisis-hit government bonds on Wednesday, saying recent political changes in the country should gradually improve its strains and help its talks with the International Monetary Fund. Adding an ‘overweight’ – effectively a buy recommendation – JPMorgan analysts said: “political stability should pave the way for bonds…
A state of emergency was declared in the holiday hotspot TUI has cancelled all holidays to Sri Lanka departing up to and including 31 May 2022. This comes as the Foreign Office updated its travel advice for Sri Lanka, urging Brits not to go to the country unless it’s absolutely necessary. The change in advice comes after…
Corporates continue to view the economy in an extremely pessimistic light “With the youth spearheading the nationwide demonstration and expressing their concerns, the voice of the people has started to rise and be heard,” notes NielsenlQ’s Director – Consumer Insights Therica Miyana – deniya. She continues: ” April has been a pivotal month; a turning…
The Ceylon Chamber of Commerce officials met with the leaders of several key political parties during the last 4 days to discuss the serious economic and political challenges faced by the country. Among the leaders met were Hon. Sajith Premadasa, Leader of the Opposition and SJB, Hon. Anura Kumara Dissanayake, Leader of the JVP, Hon….
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