H.E. Eric Lavertu, Ambassador of France and Mr. Jean Alexandre EGEA, Economic Counsellor of the French Embassy in Sri Lanka met with Eng. Raja Edirisuriya, Chairman, BOI and Mrs. Renuka Weerakone, Director General, BOI on 22nd February 2022 at the BOI. Ms. Nilupul De Silva, Director (Investment Promotion), BOI also participated in the discussion. The…
Net interest income up 30.56% to Rs 66.416 billion Bank’s CASA ratio strengthens further to 47.83%, an industry benchmark Bank’s Cost to Income Ratio (excluding VAT on Financial Services) improves to 31.61% from 33.95% at end 2020 and 38.51% at end 2019 Total taxes increased to Rs 14.512 billion Impairment charges increased by 17.37% to…
Regional fuel prices are at a significant higher rate than Sri Lanka As Sri Lanka pitches into darkness and its people form lines at fuel stations due to the ongoing energy crisis, its largest import bill, petrol and diesel, had cost an alarming USD 3.7Bn between January to December 2021 which is 18% of the…
The Delegation of the European Union (EU) issues the following statement in agreement with the Embassies of France, Germany, Italy, Netherlands and Romania. The European Union condemns in the strongest possible terms the unprovoked invasion of Ukraine by armed forces of the Russian Federation. Russia’s recent actions with regard to Ukraine have been a blatant…
Mintpay wins Venture Engine in 2022, with Tutopiya and Hyperglade awarded 1st Runner-up and 2nd Runner-up, respectively Impact Award went to Quick Help, while Tutopiya Founder Nuha Ghouse receives first ever Trailblazer Award Rs. 7 million in prize money and grants awarded for tenth anniversary Potential investors from 11 foreign funds joined Finale via zoom…
Country’s stock index had one of the worst days in history Lukoil’s Alekperov saw biggest decline, followed by Mordashov Bloomberg – Russia’s wealthiest individuals were already feeling the squeeze from escalating tensions between the nation and Ukraine. It got much worse for their net worth after Russian President Vladimir Putin’s decision to invade Ukraine. In…
Reuters – Sri Lanka’s central bank on Thursday said the country had not sought any “restructuring” assistance for its debt, amid a worsening economic crisis which has seen essential imports stalled due to a lack of foreign exchange. Central Bank Governor Ajith Cabraal wrote on Twitter that talks with financiers and bankers had only covered…
Over 80 prospective Japanese companies participated in an online webinar organized by the Embassy of Sri Lanka in Japan. The Ambassador of Sri Lanka to Japan Sanjiv Gunasekara highlighted the investment synergies between Japan and Sri Lanka. He emphasized investing in the IT sector, renewable energy and agricultural technology. The Ambassador also mentioned the high…
The Ceylon Chamber of Commerce (CCC) recently launched the 7th edition of its flagship annual Outlook Report for 2022 at the Economic Outlook 2022 webinar. Titled ‘Road to Recovery: Overcoming Challenges’, the report covers key fundamentals of the global and local economic outlook, policy outlook, and private sector perspectives for the year 2022. This year’s…
Net Interest Income soars with impressive 20.98% growth Seylan Bank recorded a Profit After Tax (PAT) of LKR 4.6 Bn for the year ended 31 December 2021 as Net Interest Income (NII) soared with an impressive growth of 20.98% for the period under review compared to 4.64% growth reported in 2020. Despite the extremely challenging…
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