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’24
Sri Lankan racing sensation Eshan Pieris is on the brink of a remarkable 2024 racing season. With a string of victories and a legacy that precedes him, Eshan gears up for the upcoming GT World Challenge Asia 2024, marking a significant chapter in his illustrious career. As a key member of the Absolute Racing family, […]
CEAT Kelani launches 3 new radial tyre variants
Sri Lanka’s leading pneumatic tyre manufacturer CEAT-Kelani has introduced three new variants of high-performance radial tyres into the market, widening choice for a significant segment of vehicle owners. Joining CEAT’s ‘Orion Brawo’ range, the new radials are in the sizes 155/65 R14, 165/70 R14 and 165 R13, with the first two sizes designated for popular […]
SL debt repayment period to be extended from 2028 to 2042, with a lowered interest rate of around 2-pct
Sri Lanka is in the final stages of negotiations with its creditors, spearheaded by Japan, to suspend debt repayments until 2028. The repayment period will be extended from 2028 to 2042, with a lowered interest rate of approximately 2%. Despite Sri Lanka’s appeal for further debt reduction, Nikkei Asia reports that no additional cuts are […]
Interview: Three questions to Frank Dandy about moving production to Sri Lanka
BLOG SWEDEN SRI LANKA BUSINESS (https://blogg.sslbc.se) Since 2017, Daniel Hörnqvist has been the CEO of the Swedish fashion brand Frank Dandy. When he took over, he brought with him extensive experience from e-commerce and the outdoor market. This included responsibility for the launch of the e-commerce brand Bikester in the Nordic region in 2013. In […]
ComBank breaks new ground in Sri Lanka enabling Alipay QR payments for merchants
The Commercial Bank of Ceylon has opened up a world of new opportunities for Sri Lankan businesses, by becoming the first bank in Sri Lanka to enable Alipay QR Code payments under unified Lanka QR. Alipay e-wallet holders, currently numbering over 1 billion, can now scan the Commercial Bank LankaPay unified QR code issued to […]
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Fitch Ratings has assigned Hatton National Bank PLC’s (HNB, A(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to LKR12 billion an expected National Long-Term Rating of ‘BBB+(EXP)(lka)’. The proposed debentures, which will have maturities of five, seven and 10 years, will be listed on the Colombo Stock Exchange. The bank plans to […]
SOE Losses Costing LKR 141,809 per Sri Lankan Household
The soft pedaling by the government to carry out crucial reforms of State Owned Enterprises is forcing taxpayer’s wallets to take the brunt of the hit, says Colombo based think tank, Advocata Institute. Dhananath Fernando, the Chief Executive Officer of the Advocata Institute said, taking into account the upcoming election cycle, the Advocata Institute, urged […]
ADB partnership strategy 2024-28 for SL to foster sustainable recovery, build resilience, and revive growth
The Asian Development Bank (ADB) has launched a new country partnership strategy (CPS) for Sri Lanka covering the period 2024–2028. The strategy will focus on restoring the country’s macroeconomic stability, reviving growth, and establishing the foundation for sustainable recovery and resilience. “This new partnership strategy will build on ADB’s ongoing assistance to support the country’s efforts to […]
Indian Political Parties Clash Over Katchatheevu Creating A Political Hot Potato for Elections
Indian prime minister Narendra Modi has accused the Congress party of “callously giving away” the island of Katchatheevu to Sri Lanka. The tiny island was claimed by both countries from 1921 to the 1970s. In 1974, a Congress government under prime minister Indira Gandhi gave up its claim and ceded the island to Sri Lanka. […]
Visa sees 35%+ surge in debit card spends; trend expected to continue in upcoming Avurudu season
Visa (NYSE: V), the global leader in digital payments, today announced that Visa debit card spends saw a significant increase of over 35% in the past year, indicating healthy growth of digital payments in Sri Lanka. This increase is buoyed by a 30%+ increase in face-to-face spends and over 40% increase in ecommerce spends. As […]