Author: lbostgadmin
Supreme Court Justice Murdu Fernando takes oath as Sri Lanka’s 48th Chief Justice
Supreme Court Justice Murdu Nirupa Bidushinie Fernando was officially sworn in as the Chief Justice of Sri Lanka before President Anura Kumara Dissanayake today (02) at the Presidential Secretariat. She assumes office as the 48th Chief Justice of Sri Lanka, succeeding Chief Justice Jayantha Jayasuriya, who recently retired. Her appointment received approval from the […]
Fairfirst Insurance and Bank of Ceylon Join Forces for an Exciting Bancassurance Partnership
Fairfirst Insurance is excited to announce a strategic partnership with the Bank of Ceylon (BOC), a leading financial institution in Sri Lanka. This collaboration brings a wide range of customised insurance packages designed exclusively for BOC’s extensive customer base, strengthening Fairfirst’s commitment to delivering innovative and client-centric insurance solutions. Through this strategic alliance, BOC will […]
Hambantota Port Rejuvenates Container Operations with USD 41 Mn Crane Upgrade
The Hambantota International Port Group (HIPG) announced a significant investment of US dollars 41 million in state-of-the-art crane technology, set to be fully operational by January 2025. This enhancement includes the installation of four Quay Cranes (QC) and thirteen rubber-tyred gantry Cranes (RTGs) at the Hambantota International Port (HIP), expanding the port’s capabilities to a […]
EnerG Sustainables to host training on solar integration and AI-driven energy management
EnerG Sustainables, the renewable energy and energy management consultation across the GCC and beyond, is announcing an intensive two-day training program on ‘Innovative Energy Strategies for Commercial & Industrial Businesses: Integrating Solar and AI-Driven Energy Management Solutions.’ This exclusive event will take place at the iconic Galle Face Hotel in Colombo on December 10th-11th, 2024. […]
Delmege Insurance Brokers secures number one position in the business
Delmege Insurance Brokers Ltd, a trailblazer in the insurance brokerage sector, has proudly achieved the coveted position of being the highest ranked company in the Overall Insurance Brokering Business according to the Global and local Insurance Outlook 2023 published by the Insurance Regulatory Commission of Sri Lanka. This remarkable milestone underscores the company’s commitment to […]
Port City Colombo Offers A Variety Of Lifestyle, Leisure, And Entertainment Experiences
Port City Colombo, a visionary multi-service Special Economic Zone and master-planned city, invites the local community to partake in an assortment of engaging excursions that range from luxury shopping to serene strolls by the waterfront. With a series of experiences that provide something for everyone, Port City Colombo further encourages local guests to spend more […]
Ambeon Holdings makes a strategic investment in Seylan Bank for LKR 1.4 Bn
Ambeon Holdings PLC, a diversified conglomerate reputed for its market dominance across sectors such as financial services, real estate, technology, and strategic investments, made a significant strategic move in the financial services sector by acquiring a 7.63% stake in Seylan Bank PLC, further increasing its investments in the banking industry. This investment comes on the […]
GSP+: Can It Drive Inclusive Growth In Sri Lanka?
By Rashmi Anupama, Chaya Dissanayake, and Dr Asanka Wijesinghe In a mid-October 2024 meeting with the European Union (EU) Ambassador, Sri Lanka reaffirmed its commitment to strengthening trade relations with the EU, particularly highlighting the role of the GSP+ programme in boosting Sri Lankan exports. This discussion underscores the significance of the GSP+, which offers […]
Opinion: A Missed Opportunity – Why Harsha De Silva Could Have Been the Ideal Opposition Leader
By Chethana Ranathunga and Yasu-e Karunaratne Edussuriya A coalition that previously held only three seats has achieved a sweeping victory in Sri Lanka’s recent parliamentary elections. The Janata Vimukthi Peramuna (JVP) led National People’s Power (NPP) coalition now controls over two-thirds of the legislature, a historic outcome unprecedented in Sri Lankan parliamentary history. This political […]
Central Bank of Sri Lanka further eases its monetary policy stance
The Monetary Policy Board of the Central Bank of Sri Lanka has decided to further ease the monetary policy stance and set the newly introduced Overnight Policy Rate (OPR) at 8.00 per cent. With this change, the effective reduction in the policy interest rate would be around 50 basis points from the current level of […]
CBSL implements Single Policy Interest Rate Mechanism by Introducing Overnight Policy Rate
The Monetary Policy Board of the Central Bank of Sri Lanka has decided to implement a single policy interest rate mechanism transitioning from its dual policy interest rate mechanism, with effect from 27 November 2024. Accordingly, the Central Bank introduces the Overnight Policy Rate (OPR), as its primary monetary policy tool to signal and operationalise […]
Local Consortium of SL Commits to Supporting Govt’s International Sovereign Bond Restructuring
The Local Consortium of Sri Lanka (the “LCSL”), comprised of domestic commercial banks and financial institutions, commits its full support for the Exchange Offer and Consent Solicitation launched today by the Government of Sri Lanka (the “Government”) to restructure the US$12.55bn in outstanding International Sovereign Bonds (“ISBs”) including terms tailored for local holders (the “Local […]