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Shop with FriMi at Keells outlets island-wide
FriMi, the innovative payment platform recently added KeellsSuper to its growing list of partner merchants. FriM iusers can now enjoy a revolutionary shopping experience at KeellsSuper island-wide and enjoy exclusive FriMi offers when they shop. Elaborating on the ease of using FriMi for everyday transactions FriMi Digital Bank(Nazeem Mohamed – Head of FriMi Digital Bank) stated;“Our […]
Sri Lanka targets USD2.5Bn in FDI in 2018, USD 5Bn by 2020:Fin Min
Apr 10, 2018 (LBO) – Sri Lanka’s government is looking at attracting up to US 2.5 billion dollars in Foreign Direct Investments (FDI) in 2018, and to double it to US 5 billion by 2020, a statement said. In 2017 the the highest FDI inflows came from China, followed by Hong Kong, India and Singapore, the […]
Sri Lanka to despatch its largest ever trade delegation to London
This year Sri Lanka will despatch its largest ever business and trade delegation targeting the Commonwealth. Sri Lanka is also scheduled to unveil its new country branding & slogan for its ICT sector in London next week. “Sri Lanka is one of the Strategic Partner Countries of 2018 CBF. Therefore the Department of Commerce under […]
For the first time in Sri Lanka, eZ Cash launches ‘Top-up’ via bank accounts
Sri Lanka’s first and largest Mobile Money and Payment Service, eZ Cash, announced the launch of a new feature that enables customers to top-up their eZ Cash wallets via bank accounts on its cutting edge eZ Cash app. The Bank top up feature supplements the recently introduced QR Scan and pay option which enables smart […]
Sri Lanka’s debt burden is higher than Ethiopia, Uganda & Ghana
Apr 09, 2018 (LBO) – Sri Lanka’s government revenue as a share of GDP is lower than many peers, while the government debt-to-GDP ratio is much higher, Moody’s Investors Service said in a statement.Debt-to-GDP ratio in Ethiopia, Uganda and Ghana among other countries is lower than Sri Lanka even though revenue-to-GDP ratio in these countries […]
Sri Lanka trade deficit expands over USD1bn in January; imports USD2bn
Apr 09, 2018 (LBO) – Sri Lanka’s trade deficit has expanded in January surpassing 1 billion US dollars for the second consecutive month due to significant level of imports offsetting the increase in export earnings. While earnings from merchandise exports increased, expenditure on imports also increased significantly outweighing the performance in export earnings during the […]
Advantis handles logistics for Sri Lanka’s 1st 10MW Biomass power plant
Continuing to support the nation’s power and energy sector, Advantis Projects announced that it had been appointed as the logistics solutions provider for COSCO Shipping Project Logistics Co., LTD who secured the total transportation of the country’s first 10MW biomass power plant project, being commissioned in Kalawaaragama, Moneragala by Green Watts (Pvt) Ltd. Advantis Projects […]
Visa celebrates 30 years of digital payments in Sri Lanka
Visa, the global leader in digital payments technology, today completed 30 years of operations in Sri Lanka since commencing operations in 1988. Continuing its pioneering efforts to build awareness for digital payments in Sri Lanka, Visa celebrated the milestone by announcing initiatives to promote digital access, and digital and financial literacy across rural communities through […]
Joint committee of both parties to study cabinet reshuffle: President
Apr 06, 2018 (LBO) – Sri Lanka’s President Maithripala Sirisena on Friday said the proposed cabinet reshuffle will be studied by a joint committee of the two parties in the government before it got implemented.Addressing media heads at the President’s House in Colombo, he said reshuffle would be discussed at the Central SLFP Committee meeting […]
Fitch revises Rating Watch on Melsta Regal Finance to Evolving from Negative
Fitch Ratings has revised the Rating Watch on Melsta Regal Finance Ltd’s (MRF) National Long-Term Rating of ‘A+(lka)’ to Evolving from Negative. The rating action follows the announcement dated 2 April 2018 that a consortium led by Fairfax Financial Holdings Limited of Canada (Fairfax) will acquire 100% of the equity in Sri Lanka-based MRF from […]
Johann Peries confident of his 2nd attempt to scale Mount Everest
Months of physical and mental preparation have culminated in the departure of a brave son of Sri Lanka, Johann Peries, on his second attempt to scale Mount Everest.Setting off for the two-month expedition, Johann hopes to be successful on this attempt to scale Mount Everest and make his country proud. Johann Peries and Jayanthi Kuru-Utumpala […]
Need more progress on HR conventions relevant to GSP+: European delegation
Apr 05, 2018 (LBO) – A delegation of the European Parliament Committee on International Trade (INTA) who visited Sri Lanka highlighted that the country need to make further progress in implementing the international human rights conventions relevant to GSP+ and further improve labour conditions. The delegation, chaired by Jan Zahradil, and composed of six INTA members including […]