Category: Economy and Markets
Norfund to invest up to 9.99-pct in National Development Bank
NDB and the Norwegian Development Finance Institution, Norfund, have reached an agreement for Norfund to invest up to 9.99% in National Development Bank PLC (NDB). Under this agreement, Norfund will participate in the Rights Issue for LKR8Bn that NDB has already announced by way of subscribing to unsubscribed rights and also by way of a […]
Twin awards for SriLankan Airlines in Singapore
The Changi Airport Group in Singapore recognised SriLankan Cargo with a “Cargo Service Excellence Award” at a ceremony during the ‘Let’s Talk Cargo 2021’ conference held recently in Singapore. SriLankan Airlines has been nominated by the Cargo industry partners in Singapore and shortlisted by a panel of judges as one of the three recipients of […]
Sterlingcars.lk – Sri Lanka’s newest online marketplace to buy and sell automobiles
SterlingCars.lk was launched by Sterling Automobiles Lanka Pvt Ltd – one of Sri Lanka’s prominent automobile service providers. SterlingCars.lk is a web platform which aims to provide a marketplace for buying and selling automobiles. The website offers a comprehensive range of vehicles, covering a plethora of makes and models. The design of SterlingCars.lk aims to […]
Trillium launches new Rs.1.2Bn apartment complex in Colombo
Total investment of Rs. 1.2 billion for the project by Trillium. Affordable luxury living in Colombo City Limits – Havelock Town, Colombo 05. A Condominium that allows pets for the first time in history in a pet care facility. Exclusive rooftop pool with all modern amenities. Trillium Havelock Residences – an Ideal investment opportunity. Real […]
Hirdaramani takes new steps in transparency and accountability for renewable energy use
The Hirdaramani Group has yet again taken bold strides towards energy accountability by being the first in Sri Lanka to receive International Renewable Energy Certificates (I-RECs) for its energy usage. With this robust tracking standard, the group hopes to add new layers of accountability and credibility to its operations, living up to the commitments outlined […]
Central Bank & IFC launch Sri Lanka’s first National Financial Inclusion Strategy
Sri Lanka’s first National Financial Inclusion Strategy (NFIS), launched today, aims to make financial services more accessible, efficient, and affordable for all households and businesses in the country. The NFIS is a joint effort led by the Central Bank of Sri Lanka—with technical and financial assistance from IFC, a member of the World Bank Group—under […]
Recent volatility on yields of government securities is unwarranted: CBSL
Certain market interest rates, such as yields on government securities, have shown unwarranted volatility recently, which is not in line with monetary policy expectations, the Monetary Board of the Central Bank said announcing its commitment to continue the current accommodative monetary policy stance. The Central Bank reiterates that the high level of excess liquidity in […]
Transformation of distribution model: How insurance industry needs to prepare for ‘Next Normal’
By Chula Hettiarachchi Across different industries and geographies, COVID-19 has changed the ways people engage with one another. Numerous health regulations—from social distancing to self-quarantine—have been conscientiously imposed by authorities across nations to overcome numerous pandemic-related challenges, even to the extent of shifting a large proportion of physical transactions to digital and remote platforms. This […]
Capitol TwinPeaks forges ahead, amidst industry challenges
Capitol TwinPeaks, the 50-storey twin-tower mixed residential development under the Sanken Group, continues construction for delivery in 2021, amidst several hardships faced by Sri Lanka’s real estate and property industry. With the announcement by Ceylon Chamber of Commerce (CCC) – Import Section, Chairman, Delano Dias that the import restrictions on nonessential items that were expected […]
Laws still restrict women’s economic opportunities despite progress: Study
Countries are inching toward greater gender equality, but women around the world continue to face laws and regulations that restrict their economic opportunity, with the COVID-19 pandemic creating new challenges to their health, safety, and economic security, a new World Bank report says. Reforms to remove obstacles to women’s economic inclusion have been slow in […]
Veemansa Initiatives’ discussion on ‘external debt situation in Sri Lanka
Delivering the keynote address on the topic, External Debt Situation in Sri Lanka: Our Route to Resolution, the Governor of the Central Bank, Deshamanya Professor W D Lakshman said that despite the COVID-19 pandemic and its impact Sri Lanka will maintain its unblemished records of debt service. The Governor made these comments at the […]
70-pct probability to hold policy rates: First Capital Research
First Capital Research believes that there is a 70 percent probability to hold policy rates due to the considerable improvement in high-frequency indicators and with fiscal and monetary measures implemented so far. As per their view, the Central Bank either can choose to hold policy rates steady or cut by 25 bps or 50 bps […]