Nation facing severe shortage of dollars to pay for food, fuel Departing Governor Cabraal submitted his resignation Monday Bloomberg – P. Nandalal Weerasinghe, a career central banker, was appointed to head Sri Lanka’s monetary authority as the government seeks to pull the South Asian nation out of an economic tailspin, avoid a bond default and…
The Norwegian Embassy in Colombo, along with the Western Norway University of Applied Sciences (HVL) and the University of Jaffna, organized a seminar titled “Towards a clean and sustainable energy era: Opportunities to meet the energy demand in Sri Lanka” this afternoon at the Galle Face Hotel. The purpose of the seminar was to bring…
Nations Trust Bank PLC announced the appointment of Hemantha Gunetilleke to the position of Director/ Chief Executive Officer, with effect from April 4, 2022. Hemantha, who was Deputy Chief Executive Officer since April 2020, succeeds Priyantha Talwatte at the helm of the Bank. Hemantha Gunetilleke is a career banker with extensive international banking experience and…
(Reuters Breakingviews) – Sri Lanka’s collapse is front of mind for many. read more Protesters fed up with crippling shortages of essential food and fuel items are on the streets, prompting multiple members of Prime Minister Mahinda Rajapaksa’s cabinet to offer to resign late on Sunday. Social unrest will probably accelerate a restructuring of some $44 billion…
The Sri Lanka Institute of Biotechnology (SLIBTEC) will collaborate with the U. S. Government’s development arm, the U. S. Agency for International Development (USAID), to promote innovation in the biotechnology sector by establishing Sri Lanka’s first Biotechnology Innovation Park. The SLIBTEC Biotechnology Innovation Park will be a 13.2-acre facility in Pitipana, Homogama that will house…
The President of the Asian Infrastructure Investment Bank (AIIB) Jin Liqun, encouraged Sri Lanka to consult the IMF on the current economic challenges confronting Sri Lanka during his meeting with the Ambassador of Sri Lanka to China, Dr.Palitha Kohona. He also explained that the AIIB was ready to support Renewable Energy projects which would help Sri Lanka…
The Ceylon Chamber of Commerce through its Energy Sector Committee has been studying the on-going energy crisis in the country. The shortage of foreign currency in the banking system has revealed deep vulnerabilities in the planning and fiscal management of the energy sector. The Chamber is of the view that this has underlined Sri Lanka’s…
We represent the product, services, and startup companies of the ICT ecosystem in Sri Lanka. This community is a free and an independent group of industry leaders who deeply value our civil liberties. Sri Lanka’s digital economy represents approximately 4.37% of GDP and this is positioned to grow exponentially in the coming years. We represent…
Regular trading at the Colombo Stock Exchange (CSE) was halted for 30 minutes at 10. 32 a.m. today (04), as the S&P SL20 index dropped over 5% from the previous close. At the time of the trading halt, the S&P SL20 index fell by 167.60 points (5.92%) to 2,663.33, while the All Share Price Index…
The Condominium Developers Association of Sri Lanka (CDASL) handed over recommendations for Amendments to the New Planning & Development Regulations – Extraordinary Gazette No. 2235/54 to the Chairman of the Condominium Management Authority (CMA), Mr. Sarana Karunarathna. Noting that the proposed amendments include key elements that adversely affect the industry, the CDASL proposed alternative amendments….
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