Category: Economy and Markets
Ceylon Chamber of Commerce launches outlook 2023 report
The Ceylon Chamber of Commerce (CCC) recently launched the 8th edition of its flagship annual Outlook Report for 2023 at the Economic Outlook 2023 seminar. The Report was launched in the presence of Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka who delivered the keynote address. Compiled by the Economic Intelligence Unit […]
E-commerce: An islandwide phenomenon and youth-oriented futuristic industry of SL – Report
Daraz Sri Lanka and Sri Lanka Association for Software Services Companies (SLASSCOM) released the first in-depth study on the adoption and use of e-commerce in Sri Lanka during difficult economic times at a roundtable discussion held in Colombo on Monday 30th January 2023. The report titled “E-commerce: A Driver of Inclusive Growth in Sri Lanka?” […]
USAID & CCC launch comprehensive study to assess digital maturity of small & medium sized exporters
The Ceylon Chamber of Commerce (CCC) with support from the U.S. Government’s development arm, the U. S. Agency for International Development (USAID), launched a study to assess the current digital maturity level of Sri Lankan small- and medium-sized enterprise (SMEs) exporters. On January 26, CCC shared insights and recommendations to strengthen the digital ecosystem and […]
Merchandize exports reached USD 13Bn in 2022
Merchandise exports have increased by 4.6% to US$ 13,070.6 Million in 2022 compared to the corresponding period of 2021, Sri Lanka Customs data showed. Earnings from the merchandise exports, however, decreased by 9.7% y-o-y to US$ 1,044 Mn in December 2022, as per the data released by Sri Lanka Customs. This was mainly due to […]
CA Sri Lanka to create history in the Middle East with inaugural conference for Accountants
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) which stakes claim for organising the biggest annual business summit in Sri Lanka, is set to create history in the Middle East as it plans to host its very first conference in the region targeting Accounting Professionals including Chartered Accountants. The power packed […]
Hatch partners with HDFC Bank to provide exclusive credit facility for community of startups
In a one of a kind collaboration; Hatch, the award winning co-working space, start-up incubator and accelerator is partnering with HDFC Bank as their official banker, to give its community of startups access to an exclusive loan facility, the benefits of which will support these startups in strategically growing their business in the face of […]
Central Bank maintains tight monetary policy stance to rein in inflationary pressures
The Monetary Board of the Central Bank has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 14.50 percent and 15.50 percent, respectively. The Board, having noted the recent and expected developments and projections on the domestic and global […]
Tianjin Port Group and Huawei announce deepening cooperation to build digital twin of port
Tianjin Port Group and Huawei announced this week that the two companies will deepen cooperation to build a digital twin of the port, making it more automated and intelligent. Yang Jiemin, Vice President of Tianjin Port Group, explained that this plan consists of three parts: Construction of new automated terminals, upgrading of traditional terminals, and […]
EDB Launches Export Performance Indicators 2021
Sri Lanka Export Development Board presents its flagship statistical publication “Export Performance Indicators 2021”. The latest edition provides statistical information related to Sri Lanka’s external trade and its contribution to major economic indicators such as trade balance, GDP and individual sectoral involvement for the year 2021 and five preceding years. This volume is the 35th […]
CFA Society SL and CSE train financial literacy ambassadors from state universities
The Colombo Stock Exchange (CSE) and the CFA Society Sri Lanka wish to appoint “Financial Literacy Ambassadors” from state universities in Sri Lanka and to conduct a training session on financial literacy for them on 26th January 2023, from 9.00 am to 12.00 noon at the CSE Auditorium in Colombo. This is in line with […]
”’; Maintains negative watch
Fitch Ratings has downgraded Co-operative Insurance Company PLC’s (CICPL) National Insurer Financial Strength (IFS) Rating to ‘BBB(lka)’ from ‘A-(lka)’ and maintained the Rating Watch Negative (RWN) following the recent sovereign downgrade and recalibration of the agency’s Sri Lankan national rating scale. The recalibration is to reflect changes in the relative creditworthiness among Sri Lankan issuers […]
MAS announces joint venture with Tata Group’s Trent Ltd in India
MAS Amity Pte. Ltd., a subsidiary of MAS Holdings, signed a joint ventureagreement with Tata Group’s Trent Ltd, setting up an entity in India for the joint development of business into intimate wear and other apparel related products. Over time, MAS and Trent would pool their domain expertise to undertake design, development and manufacturing of […]