U.S. Ambassador Julie Chung witnessed the signing of Memorandum of Understanding (MOU) between DFCC Bank and the U.S. government’s Agency for International Development (USAID) Private Sector Development project to expand financial services to micro, small and medium enterprises (MSMEs) in Sri Lanka. “The U.S. Government shares DFCC’s belief that lending to MSMEs will increase GDP…
IFC has appointed Lisa Kaestner as the new Country Manager for Sri Lanka and Maldives. Based in Colombo, Kaestner will focus on diversifying and growing IFC’s portfolio while helping strengthen private sector in both countries and promoting inclusive growth. The appointment was announced by IFC’s Vice President for Asia and the Pacific, Alfonso Garcia Mora,…
The Condominium Developers Association of Sri Lanka (CDASL) has made several timely amendments and resolutions to issues faced by the condominium developers over time in order to facilitate and expedite businesses processes for the rapid development of the sector. CDASL being the premier association in Sri Lanka representing the condominium developers has over 35 members…
Central Bank requests the public to provide information on unauthorized foreign currency dealings. Permission to buy, sell and exchange foreign currency in Sri Lanka is granted ONLY to authorized dealers (i.e. licensed banks) and money changers appointed by the Central Bank of Sri Lanka (CBSL). Therefore, foreign currency, shall be purchased, sold or exchanged only…
Deputy Chairman Prof. A. K. W. Jayawardane succeeds retiring Chairman Justice K. Sripavan; senior banker Mr Sharhan Muhseen appointed Deputy Chairman Commercial Bank of Ceylon PLC has announced the appointment of top academic Prof. A. K. W. Jayawardane as Chairman, and accomplished international investment banker Mr Sharhan Muhseen as Deputy Chairman effective Tuesday, 1st March…
Russia key buyer of Sri Lanka tea exports; top tourism source Inflation is Asia’s fastest; 2030 dollar bond drops to record Bloomberg – With Covid shutting off tourism from much of the West, Russia and Ukraine had become an increasingly important source of foreign currency for Sri Lanka. The conflict threatens to turn off that…
By Asanka Wijesinghe The Russian invasion of Ukraine deepens the existing global economic woes – persistent supply chain bottlenecks and associated rising inflation – clouding the prospects of a smooth global economic recovery from the pandemic. The West, led by the US and the EU, swiftly imposed strict economic sanctions, targetting Russian banks, oligarchs, political…
We’re expanding Facebook Protect, our security program for groups of people that are more likely to be targeted by malicious hackers, such as human rights defenders, journalists, and government officials. No action is required unless you’re prompted to enroll. We’re also making it easier for these groups of people to set up two-factor authentication. As…
Many of Sri Lanka’s Regional Plantation Companies (RPCs) are breaking away from legacy practices of the sector by redefining themselves through innovation. In this week’s, ‘RPC Innovation Series,’ we explore the question: ‘can Pure Ceylon Tea help drive the fight against climate change?’ Having developed innovative, home-grown solutions and leveraged and adapted global best practices…
International Mudaliar and Pillaimar Association (IMPA) is a non-profit, non-political organization based in Southern India which consists of more than 25000 members worldwide. IMPA constitutes of reputed business owners with a South Indian origin and is highly involved in development of economy, education, health and agriculture in rural communities in Southern India. Deputy High Commissioner…
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