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Interview : A closer look at Bancassurance with Vindya Cooray
Bancassurance is a relatively novel concept in the financial services industry of Sri Lanka. It enables consumers to fulfill both financial needs and insurance needs under one roof through their preferred banking partner. In an exclusive interview with Lanka Business Online, Vindya Cooray, the Chief Bancassurance Officer of Union Assurance PLC, explained the concept and […]
‘s exports exceed USD 1Bn for third consecutive month in August
Sri Lanka’s merchandise exports in August 2021 recorded an increase of 14.4 % to US$ 1,083.56 Mn as compared to US$ 947.2 Mn recorded in August 2020 as per the data released by Sri Lanka Customs. Table 1: Merchandise Export Performance Values in US$ Mns Exports of Goods Jan-Aug 2019 Jan-Aug 2020 Jan-Aug […]
Property Prices in Sri Lanka Remain Positive & Stable in Q2 Despite COVID Waves: report
A recent study on the House Price Index developed by LankaPropertyWeb which is based on the asking prices of its listings revealed that overall residential land prices (per perch) had soared by 44.19% from Q2 2020 to Q2 2021. 4 bedroom house sales prices had increased by 15.68% from Q2 of 2020 while average 3 […]
Fertilizer shortage will deprive Sri Lanka of critical forex earnings – Planters’ Association
Due to the shortage of suitable fertilizer, Sri Lanka is unlikely to be able to achieve its export earnings target for 2021, according to the Planters’ Association of Ceylon (PA), which also reiterated calls for a sustainable solution to the worsening crisis. Earlier this year, the Export Development Board (EDB) set a target of USD […]
Lankan Angel Network & Angel Fund Appoint First Female Chairperson
The Lankan Angel Network (LAN), the country’s largest network of angel investors, has appointed Chandi Dharmaratne as its Chairperson for 2021/2022, at its most recent Board Meeting held in September. Ms. Dharmaratne is the first woman to lead the Lankan Angel Network. As she steps into this role, Ms. Dharmaratne succeeds Mano Sekaram, Founder/CEO – […]
UK removes Sri Lanka from the red list for entering England
Sri Lanka will move to the amber list for entering England from 22 September 2021, updating its foreign travel advice, the Government of the United Kingdom said. Currently, Sri Lanka is on the red list for entering England. Research conducted by the World Travel & Tourism Council (WTTC) has revealed Sri Lanka’s economy could face […]
United States Delivers USD40 Mn to Support Small Businesses & Empower Sri Lankan Women
The United States has provided $40 million in financing to SDB Bank in order to bolster Sri Lanka’s Small and Medium sized Enterprise (SME) sector and assist women entrepreneurs. The loan is part of $265 million in funding the U.S. International Development Finance Corporation (DFC) is providing to Sri Lankan banks, including SDB Bank, DFCC […]
Total motor vehicle registrations fall to a decade low in 2020: report
Total motor vehicle registrations of 2020, hit the lowest for the last decade and even lower than the registrations recorded in 2009 when the world experienced the global financial crisis, a new report highlighted. Motor Vehicle Industry Report released by the Economic Intelligence Unit of the Ceylon Chamber of Commerce covering key trends in 2019 […]
CSE implements new OTC Platform to conduct REPO Transactions on Debt Securities
The Colombo Stock Exchange (CSE) announces the introduction of a new Over the Counter (OTC) Platform to facilitate the Repurchase (REPO) Transactions on Corporate Debt Securities with effect from today (16th September 2021). The new OTC Platform is a significant step in the product expansion line-up of the CSE and is projected towards establishing a […]
”s Investors Service
Coupled with limited external financing options and pandemic-related lockdown weighing on the recovery of non-debt generating inflows, the FX reserves data points to a rising risk of debt default, Moody’s Investors Service said in a new report. According to the report, without sizeable external financing that is relatively secure and long-term, they expect foreign exchange […]