Author: lbostgadmin
British resident in Sri Lanka awarded British Empire Medal for services to animal welfare
Samantha Green, Chief Executive Officer of Dogstar Foundation has been awarded a British Empire Medal for her services to animal welfare. Samantha began her work in Sri Lanka in 2005, after noticing many local dogs had parasites. She moved to Sri Lanka in 2013 with her husband Mark to develop Dogstar Foundation and set up […]
Softlogic Finance issues clarification regarding punitive action by CBSL
The Central Bank of Sri Lanka recently issued a statement on penalties imposed against several financial institutions, including Softlogic Finance PLC for non-compliance with regulatory requirements during the second half of 2020. Softlogic Finance wishes to clarify that the fine imposed by the Financial Intelligence Unit (FIU) of the Central Bank was due to a […]
CBSL permits Swarnamahal Financial Services to resume business for a limited purpose
Jan 12, 2021 (LBO) – The Central Bank has made an order permitting Swarnamahal Financial Services PLC to resume business notionally for a limited purpose and limited time subject to several strict conditions, in the public interest and in the interests of the depositors of the Company. The business will be resumed for a limited […]
Central Bank to initiate legal process to wind up ETI Finance
Jan 12, 2021 (LBO) – The Monetary Board of the Central Bank has decided to cause Director, Supervision of Non-Bank Financial Institutions to make an application to a competent court for the winding up of ETI Finance (ETIF) in terms of Section 31(5)(b) of the FBA. The decision has been taken after considering the non-availability […]
Policy rates to hold steady, amidst sweeping measures to insulate economy: FCR
Jan 12, 2021 (LBO) – First Capital Research believes that there is a 60% probability to hold rates due to the considerable improvement in high-frequency indicators and with fiscal and monetary measures implemented so far. However, there is a 20% probability each for 25 bps and 50 bps rate cut to support economic growth. “As […]
Sri Lanka – Bangladesh agree to promote maritime cooperation
The newly appointed High Commissioner of the People’s Republic of Bangladesh to Sri Lanka Tareq Md. Ariful Islam representing presented his credentials to President Gotabaya Rajapaksa at the President’s House Monday. During the ensuing discussion, explaining the current economic situation in Sri Lanka and the steps taken by the Government to contain the COVID – […]
EU, UNDP call on youth leaders to join ‘United Creatives’ for digital peacebuilding
The United Nations Development Programme (UNDP) and the EU are calling on youth leaders, influencers, and creators to promote peace through digital action by joining a new regional programme in Sri Lanka and the Maldives. ‘United Creatives’ is implemented by the social change agency Love Frankie and will support youth from across the two countries […]
IFC’s $25Mn investment in NTB to help businesses continue operations amid COVID-19
In an effort to provide improved access to critical working capital for Sri Lankan businesses impacted by the COVID-19 pandemic and to help preserve jobs, IFC, a member of the World Bank Group, is providing a $25 million loan to Nations Trust Bank (NTB). The financing package, which will be used by NTB to help […]
FIU imposes penalties to finance companies for violation of customer due diligence rules
Jan 11, 2021 (LBO) – Financial Intelligence Unit (FIU) as the regulator for Anti-Money Laundering and Countering the Financing of Terrorism in the country, has imposed penalties amounting to Rs. 2.3 million in total for the period from 01.06.2020 to 31.12.2020 to enforce compliance on financial institutions. The Monetary Board of the Central Bank has […]
Thailand to focus on investment opportunities in plantation and agri in SL
Ambassador of Thailand in Sri Lanka Chulamanee Chartsuwan paid a Farewell Call on Foreign Minister Dinesh Gunawardena on 08 January 2021. During the meeting, the Foreign Minister noted that Thailand has potential to invest in Sri Lanka especially in the plantation and agricultural sector. Both sides endorsed the importance of finalizing the Free Trade Agreement to spearhead the bilateral economic and trade relations. In regard to trade relations, the Minister […]
“We changed political culture of forgetting village after winning power” President
No political witch hunt; only strict adherence to law: will not entertain lumpen politics – President says in Lathugala · Policy decision to allow cultivation without hindrance · Officials must visit villages · Every village to see sustainable development President Gotabaya Rajapaksa said the political culture of forgetting the village after winning power has been […]
Sri Lanka’s boat manufacturing capabilities highlighted in Jordan
The Embassy of Sri Lanka in Jordan with the active facilitation of the Sri Lanka Export Development Board held a virtual Meeting on 6 January 2021, to showcase Sri Lanka’s highly specialized boat manufacturing capabilities to a Jordanian Boat importing company in Aqaba port city which currently sources and imports boats for the Jordan, Iraq […]