By: Charith Gamage Cryptocurrencies together with Decentralised Finance (DeFi), the finance ecosystem that extends cryptocurrencies into banking territory, can positively impact developing countries. But it is not quite so straightforward and is still a double-edged sword for developing markets like Sri Lanka. So, how should the country position itself to face the key challenges ahead?…
By Shirendra Lawrence The emergence of apparel and textiles as a significant contributor to Sri Lanka’s economy began post-Independence in 1948 when a few pioneering industrialists saw opportunities in its domestic market. Following the liberalization of the economy in the late 70’s, the industry ventured into exports, bringing in much needed foreign exchange, and before…
The upcoming Sri Lanka Economic Summit 2021, the foremost and most anticipated economic event of Sri Lanka, will host a lineup of contemporary dialogues under this year’s theme ‘Springboard for revival: Opportunity to reset’. The schedule of high profile speakers at this year’s summit will include presenters from global management consulting firm and Summit Knowledge…
The opposition alleged in Parliament that foreign reserves have dropped to $ 1.5 billion which included the gold reserves of $ 300 million. The Govt. did not refute the opposition claim that the available cash reserve was only USD 1.5 billion less than one month’s import payment, lowest in history. He told a news conference…
Business sentiment trends down in the wake of lingering concerns among corporates The trade deficit narrowed in September on the back of exports recording earnings in excess of a billion dollars for the fourth consecutive month this year. According to the Central Bank of Sri Lanka (CBSL), this alongside import expenditure remaining largely the same…
The Commercial Bank of Ceylon has been adjudged the Asian Development Bank’s (ADB’s) ‘Leading Partner Bank in Sri Lanka’ at the 2021 edition of its Trade and Supply Chain Finance Programme (TSCFP) Awards that recognise banks that support trade in Asia and the Pacific. The award was conferred upon Commercial Bank for recording the highest…
The Ceylon Chamber of Commerce pledges to join the fight to end gender-based violence by joining the global campaign “Orange the World: 16 Days of Activism against Gender-Based Violence’. In Sri Lanka, the first dedicated national survey on violence against women and girls, the Women’s Wellbeing Survey, revealed that two in five women were subjected…
The upcoming Sri Lanka Economic Summit 2021, the foremost and most anticipated economic event of Sri Lanka, will host a lineup of contemporary dialogues under this year’s theme ‘Springboard for revival: Opportunity to reset’. Day two of the event will feature a session dedicated to ‘Survival to Recovery: Reviving Tourism Inflows’ on 7th December, 2021….
Underpinning the power of remittances to drive development and in support of Central Bank of Sri Lanka’s (CBSL) efforts to optimize inward remittances to Sri Lanka, leading private sector bank HNB PLC, recognized and rewarded their top achieving customers, at a special ceremony at their premises. The event featured CBSL Governor, Ajith Nivard Cabraal as…
Sri Lanka Convention Bureau (SLCB) recently organaised its first ever virtual familiarization tour of the newest and unique MICE (Meetings, Incentive travel, Conferences, Exhibitions) venues located in the areas from Colombo up to Beruwala and Colombo upto Waikkal. Over 100 participants representing local professional conference organisers, professional exhibition organisers, professional event organisers, meeting planners, wedding…
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