All Blogs
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 […]
Newly appointed CBSL Governor Nivard Cabraal to announce a policy package soon
Central Bank will need to take the required steps that will reflect its own commitment towards economic stability, and will therefore soon announce a policy package in the form of a short-term Road Map, that could then be followed by all stakeholders, said newly appointed Governor Nivard Cabraal. Releasing an initial statement upon taking office […]
Weak Operating Environment Continues to Pressure Sri Lankan Banks’ Ratings: Fitch
Heightened risks from the challenging operating environment stemming from the Sri Lanka sovereign’s (CCC) weak credit profile and the ongoing Covid-19 pandemic continue to pressure the ratings of large Sri Lankan banks, says Fitch Ratings in a new report. Large banks’ financial performance since the pandemic’s onset has been better than we expected, supported by […]
Standard Chartered wins ‘Most Responsive Bank against COVID-19’ Award from ADB
Standard Chartered affirmed its position as one of the largest trade finance counter parties of the Asian Development Bank (ADB), winning the ‘Most Responsive Bank against COVID-19’ Award at the Trade and Supply Chain Finance Program Awards 2021. The Bank won the award for its partnership with ADB to finance the import of 15.4 million […]
VIDEO: El Salvador makes bitcoin legal tender amid protests
On 7 September 2021, El Salvador became the first country to embrace bitcoin as legal tender. Consumer demand made its brand-new cyber wallet system crash on its first day of use as the currency’s value seesawed against the US dollar. While thousands of Salvadorans are already using the cryptocurrency for everyday transactions, hundreds have taken […]