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Banks Not Planning Widespread Parate Proceedings, Assures Sri Lanka Banks’ Association
The Sri Lanka Banks’ Association (SLBA), the collective voice of all licensed commercial banks in the country, today moved to quell alarmist claims regarding widespread parate proceedings now that the grace period for loan repayments has concluded. The SLBA firmly stated that banks have no intention of launching a flood of parate actions, emphasizing that […]
Sri Lanka Receives 2.5 mn USD from Japan to Strengthen Anti-Corruption Mechanisms
Corruption undermines sustainable development, the well-being of its citizens, their trust in institutions and tax morale. The cost of corruption is felt by all segments of society and the economy. Corruption significantly deters foreign investments, as it creates an unpredictable and risky business environment. Investors often perceive high levels of corruption as indicative of weak […]
‘s EFF, Unlocking USD350 Mn in Support
The International Monetary Fund (IMF) Executive Board has successfully completed the Fourth Review under Sri Lanka’s 48-month Extended Fund Facility (EFF) Arrangement, allowing the authorities to draw SDR 254 million (about USD 350 million). This latest disbursement brings the total IMF financial support provided to Sri Lanka so far to SDR 1.27 billion (about USD […]
TISL Launches Report on Sri Lanka’s Progress in Combating Corruption under UN Convention
Transparency International Sri Lanka (TISL), on 26 June 2025, released an independent Civil Society Report assessing Sri Lanka’s progress in fulfilling its commitments under the United Nations Convention Against Corruption (UNCAC), the first legally binding global instrument to combat corruption. Sri Lanka signed and ratified the UNCAC in 2004, committing to align national laws and […]
VIDEO: The AI Boom’s Multi-Billion Dollar Blind Spot
AI reasoning models were supposed to be the industry’s next leap, promising smarter systems able to tackle more complex problems. Now, a string of research is calling that into question. In June, a team of Apple researchers released a white paper titled “The Illusion of Thinking,” which found that once problems get complex enough, AI […]
“Dream Destination” Project Commenced Renovation of 100 Railway Stations
President Anura Kumara Disanayake stated that the primary objective of the current Government is not to pursue incremental reforms within the existing framework, but rather to transform and elevate the nation to a significantly higher level of development. The President emphasized that the current political leadership has already taken steps to break away from the […]
Union Bank Launches Trade Connect For Seamless Trade Services
Union Bank proudly unveiled Union Bank Trade Connect, a modern, fully equipped one-stop hub for all trade services. Union Bank Trade Connect was inaugurated by Dilshan Rodrigo, Director/CEO at the Bank’s Head Office and marks a new milestone in delivering seamless, efficient trade solutions to the Bank’s valued customers.
‘s historic Rs. One Billion Green Bond funds renewable expansion
Resus Energy PLC has made history with the launch of the country’s first-ever Green Bond issue by a local energy company, aiming to raise Rs. 1 billion to accelerate the nation’s transition to clean energy. The issue, scheduled to be opened on 25th June 2025, is also the country’s first Green Bond issue by a […]
Harshana Suriyapperuma Appointed New Secretary to the Ministry of Finance
President Anura Kumara Disanayake has appointed Dr. Harshana Suriyapperuma as the new Secretary to the Ministry of Finance. The letter of appointment was handed over to Dr. Harshana Suriyapperuma by the Secretary to the President Dr. Nandika Sanath Kumanayake this morning (23) at the Presidential Secretariat. Dr. Suriyapperuma has been involved in capital market regulation […]
Transparency International Sri Lanka Challenges the Companies (Amendment) Bill
Transparency International Sri Lanka (TISL) filed legal action on Thursday 19 June 2025, in the Supreme Court challenging the Bill to amend the Companies Act No. 07 of 2007. The petition has been filed in the public interest. The amendment introduces a critical anti-corruption tool – a Beneficial Ownership Information (BOI) register. TISL contends that […]