Author: lbostgadmin
USAID signs new five-year agreement with Sri Lanka
Building on the USAID Administrator Samantha Powers’s recent visit, US Ambassador to Sri Lanka Julie Chung announced today that the United States, through USAID, will provide an additional estimated $65 million (more than 23 billion Sri Lankan rupees) in assistance to Sri Lanka over a five-year period. The assistance falls under the Development Objectives Assistance […]
PIMA to hold forum on SL’s turnaround strategies and role of international community
The Alumni Association of the Postgraduate Institute of Management (PIMA), Sri Lanka’s largest and most prestigious MBA alumni network, will hold its first ever PIMA Strategic Forum on September 20 at the Shangri-La, Colombo. Titled “Sri Lanka’s turnaround strategies and the role of the international community” the event will see some of the finest minds […]
”’, on Rating Watch Negative
Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (COMB, AA-(lka)/Rating Watch Negative) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to LKR10 billion an expected National Long-Term Rating of ‘A(EXP)(lka)’, on Rating Watch Negative (RWN). The debentures, which have maturities of five, seven and 10 years, will be listed on the Colombo […]
UNDP & WHO Sri Lanka hand over essential medicines to address immediate health sector crisis
Addressing the immediate needs of the ongoing socio-economic crisis, the United Nations Development Programme (UNDP) in Sri Lanka has come forward to procure and deliver vital and essential medicines and medical supplies for the country, together with the World Health Organization (WHO) in Sri Lanka with the financial support of the United Nations’ Central Emergency […]
Fitch Ratings Slashes Global GDP Forecasts on Supply Shocks, Faster Rate Rises
The European gas crisis, high inflation and a sharp acceleration in the pace of global monetary policy tightening are taking a heavy toll on economic prospects. Fitch Ratings’ September 2022 Global Economic Outlook (GEO) includes deep and wide cuts to global GDP forecasts. Fitch now expects world GDP to grow by 2.4% in 2022 – […]
JICA partners with UNDP in Sri Lanka to procure 200 Metric Tonnes of Maize Seeds
To address the immediate needs of the ongoing socio-economic crisis in Sri Lanka, Japan International Cooperation Agency (JICA) in the partnership with the United Nations Development Programme (UNDP) in Sri Lanka will procure a significant portion of maize seed requirements in Sri Lanka, targeting the Maha cultivation season. Maize is a staple input in the […]
“There is opportunity in crisis” – JAAF Secretary General
Apparel industry proves resilient in the face of adversityTotal apparel exports in July 2022 ($ 522.14 million) – 22.4% increase YoY As Sri Lanka struggles with the ongoing economic crisis, the country’s trade balance recorded a surplus last July. While this surplus reflects the continued decline in import expenditure, it is also reflective of the […]
Businesses spending higher percentage of technology budgets on cybersecurity, Sophos research reveals
Sophos, a global leader in next-generation cybersecurity, today released additional findings from its survey report, The Future of Cybersecurity in Asia Pacific and Japan, in collaboration with Tech Research Asia (TRA), revealing businesses are increasingly prioritising budget for cybersecurity. In 2022, 11 per cent of technology budgets are dedicated to cybersecurity, an increase from 8.6% […]
Opinion: What Sri Lanka Can Learn From Thatcher’s Legacy
by M. Rizwan Muzzammil Introduction The following article, describing the economic situation of post-war United Kingdom (UK), extracts information from “The Power of Capitalism” by Rainer Zitelmann. The reader is encouraged to refer to this book for more details and references. After the War In 1945 the Labour Party won the general elections, and prime […]
Korean Envoy encourages more investment & trade between Korea and Sri Lanka
On 7th September 2022, an Interactive Session on business opportunities and experience sharing between Sri Lanka and Korea was organised by the Sri Lanka-Korea Business Council at the Ceylon Chamber of Commerce. This special event was held with the participation of the Korean Ambassador Santhush Woonjin JEONG as Chief Guest, Priyantha Mendis President of the […]
USD 203Mn from ADB & JFPR for Food Security & Livelihood Recovery Emergency Assistance Project
The Government of Sri Lanka is planning to borrow USD 200 million from the Asian Development Bank (ADB) to finance the implementation of Food Security and Livelihood Recovery Emergency Assistance Project which is expected to ensure access to food and protect livelihoods of the poor and vulnerable, especially women and children. The loan of USD […]
Dialog & SLC Launch Wishing Portal to Cheer on Our Lions to Bring Home the Cup
Official sponsor of the National Cricket Team, Dialog Axiata PLC and Sri Lanka Cricket have joined hands to launch a wishing campaign to cheer for Our Lions at the grand final of the Asia Cup T20 tourney, played on the 11th of September 2022, at the Dubai International Cricket Stadium, United Arab Emirates. The wishing […]