Author: lbostgadmin
Ceylon Chamber and Global Alliance partner for sustainable development and climate action
The Ceylon Chamber of Commerce and the Global Alliance for a Sustainable Planet (GASP) signed a Memorandum of Understanding (MOU) to tackle urgent climate change issues and promote sustainable development globally. This partnership comes as the recent Intergovernmental Panel on Climate Change (IPCC) report highlights a significant risk of global temperatures rising 1.5°C above pre-industrial […]
Ceylon Chamber commends board-level agreement on second IMF review, Calls for sustained economic reforms
The Ceylon Chamber of Commerce congratulates the Government of Sri Lanka for securing a board-level agreement on the second review of Sri Lanka’s Extended Fund Facility (EFF) with the International Monetary Fund (IMF). This agreement provides Sri Lanka with immediate access to approximately SDR 254 million (about USD 336 million) in financing. This significant […]
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Fitch Ratings – Colombo – 14 Jun 2024: Fitch Ratings has assigned National Development Bank PLC’s (NDB, A-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III- compliant subordinated debentures of up to LKR10 billion an expected National Long-Term Rating of ‘BBB(EXP)(lka)’. KEY RATING DRIVERS The proposed debentures will mature in five years and will be listed on […]
Global growth stabilizing; but 80-pct population to see slower pre-COVID decade growth: WB
The global economy is expected to stabilize for the first time in three years in 2024—but at a level that is weak by recent historical standards, according to the World Bank’s latest Global Economic Prospects report. Global growth is projected to hold steady at 2.6% in 2024 before edging up to an average of 2.7% in 2025-26. […]
‘s implementation of shortened settlement cycle for equity trades proves successful
The Colombo Stock Exchange’s (CSE) implementation of the shortened settlement cycle for equity trades has been executed seamlessly with the first settlement under the T+ 2 cycle taking place on 12 th July 2024, marking a significant milestone in Sri Lankan Capital Market operations. Investors have experienced swift payment processing, receiving their funds within two […]
WealthOS successfully raises £4Mn with institutional investors Barclays
WealthOS, a UK-based cloud-native wealth management platform founded by two Sri Lankan entrepreneurs and with product and engineering operations in Sri Lanka, recently secured £4 million in seed funding led by Barclays Bank. In addition to Barclays, WealthOS also garnered investment from Main Set, a division of the international investment firm Capricorn Capital Partners UK […]
‘s largest Advertising Festival sees global creatives in Colombo
Sri Lanka’s advertising industry experienced an unprecedented surge of inspiration as the Four A’s Advertising Festival took place on the 30th and 31st of May, welcoming over 650 participants. Hosted at the Taj Samudra, Colombo, the event featured 13 sessions & 5 workshops by global creative speakers, each bringing a wealth of expertise to the […]
PRCA Country Rep calls for ethics and standards in Sri Lanka’s advertising and marketing industry
Sri Lanka needs to put together a cohesive and comprehensive set of regulations and standards when it comes to advertising, marketing and communications and this should be done in consultation with various stakeholders in the industry, highlighted Thanzyl Thajudeen, the country representative of the Public Relations & Communications Association (PRCA), the world’s largest and influential […]
IMF completes second review; says debt sustainability path remains knife-edged
The IMF Executive Board completed the 2024 Article IV Consultation and Second Review under the 48-month Extended Fund Facility with Sri Lanka, providing the country with immediate access to SDR 254 million (about US $336 million) to support its economic policies and reforms. Performance under the program has been strong. All quantitative targets for end-December […]
Central Bank to function as regulatory authority of money or value transfer service providers
Central Bank of Sri Lanka will function as the regulatory and supervisory authority of Registered Money or Value Transfer Service (MVTS) providers. Accordingly, CBSL may carry out supervision of any Registered MVTS Provider and issue requirements on any one or more Registered MVTS Providers regarding the manner in which any aspect of their business is […]
Min Sabry attends BRICS Foreign ministerial outreach session in Russia
Foreign Minister Ali Sabry undertook an official visit to Russia at the invitation of his counterpart, Sergey Lavrov, Minister of Foreign Affairs of the Russian Federation from 10-11 June 2024 to attend the BRICS Foreign Ministers’ meeting with the developing countries held in Nizhny Novgorod, Russia. The meeting was attended by high level representatives of […]
President meets Dr. S Jaishankar in New Delhi
President Ranil Wickremesinghe, currently in New Delhi, held a meeting today (10) with Indian Senior Minister Dr. S. Jaishankar. During the meeting, Mr. Jaishankar addressed the swift resumption of development projects initiated in Sri Lanka with Indian investments, which had been halted midway. He expressed his intent to visit Sri Lanka in the near future […]