DIMO together with Kalmar uplifts Sri Lanka’s port and inland container terminal operations
DIMO, a leading diversified conglomerate in Sri Lanka, and Kalmar, a global industry forerunner in port and inland container terminal automation and in …
Banking and Finance
Blockchain platform SORA announced launch XOR currency in Sri Lanka
XOR – a blockchain-based currency under SORA – a blockchain-platform that holds XOR (the currency code for the cryptocurrency SORA) announced the …
Sri Lanka President steps down officially
Sri Lanka’s Parliamentary Speaker Mahinda Yapa Abeywardena said President Gotabaya Rajapaksa has officially stepped down from his post. He made the …
Fitch maintains People’s Bank, Commercial Bank & HNB’s National Ratings on Watch Negative
Fitch Ratings has maintained People’s Bank’s National Long-Term Rating of ‘AA-(lka)’ on Rating Watch Negative. The rating agency has …
ComBank ranked among world’s Top 1000 banks for 12th consecutive year
The globally-respected UK magazine ‘The Banker’ has once again included the Commercial Bank of Ceylon in its prestigious ‘Top 1000 World Banks’ …
Actions will be taken to liquidate five failed finance companies: Central Bank
Actions will be taken to liquidate the five failed finance companies in accordance with applicable legal provisions, Sri Lanka’s Central Bank said. The …
Fitch Downgrades BOC’s Foreign Currency IDRs to Restricted Default; Maintains National Rating at ‘AA –(lka)’/RWN
Fitch Ratings has downgraded Bank of Ceylon’s (BOC) Long- and Short-Term Foreign Currency (FC) Issuer Default Ratings (IDRs) to ‘RD’ …
Pan Asia Bank ties up with Ria, world’s 3rd largest money transfer platform
As The Truly Sri Lankan Bank, Pan Asia Bank continues to add value to customer experience. In its latest customer-centric initiative, Pan Asia Bank is …
Geographical Indication (GI) status for Ceylon Cinnamon attracts Turkish market
The Embassy of Sri Lanka in Turkey initiated a programme to promote Ceylon Cinnamon aggressively in Turkey after obtaining the European Union Geographical …
UNOPS partners South Asia Co-operative Environment Program
UNOPS signed an Agreement with the South Asia Co-operative Environment Program (SACEP), an inter-governmental organisation headquartered in Sri Lanka, to …
Current exchange rate arrangement: Background, positive impact thus far, and expected outcomes
This note is intended to explain to the general public the background to the current exchange rate arrangement, and the positive impact it has already made, …
None of the loans discussed recently in public forums have been written off: People’s Bank
In view of the recent discussions in several public forums relating to the Non-Performing Assets (‘NPA’) portfolio of People’s Bank, the Bank has issued …
SL CB reassures commitment to ensuring the availability of forex banking system for essential foods
The Ministry of Finance issued Import Control Regulations on Payment Terms No.07 of 2022, dated 06 May 2022, and to be effective from 20 May 2022, by …
Fitch Downgrades Singer Finance, Places Four Sri Lankan Finance & Leasing Companies on RWN
Fitch Ratings has downgraded Singer Finance (Lanka) PLC’s (SFL) National Long-Term Rating to ‘A-(lka)’ from ‘A(lka)’ and placed …
Central Bank announces new measures to support banking sector & facilitate credit flow
Sri Lanka’s Central Bank has decided to implement new regulatory measures to support the banking sector to facilitate effective financial intermediation …
Message by UN Resident Coordinator in SL on Day of Vesak
On behalf of the Secretary-General and the United Nations Country Team in Sri Lanka, I send my warmest wishes to all celebrating the Day of Vesak. “Hatred …
Sri Lankan mutual funds’ outflows rise amid economic turmoil: Fitch
The Sri Lankan mutual fund industry experienced large outflows in March 2022 with total assets under management (AUM) shrinking by more than 8% to LKR178 …
ComBank Group navigates devaluation impact in complex Q1 performance
Total assets cross Rs 2 Tn., first private sector bank to achieve the milestone Mainly influenced by Rupee devaluation, loan book grows by Rs 133 Bn., deposits …
Commercial Bank appoints Sanath Manatunge as MD/CEO
Sellathurai Prabagar appointed new COO in smooth succession at country’s top private sector bank The Commercial Bank of Ceylon PLC has announced the …
Year on year food prices increase close to 50-pct: Advocata
Advocata’s Bath Curry Indicator (BCI) , which tracks the monthly changes in the retail price of food, recorded an increase of 14% from March 2022 to …