Category: Industry
ADB partnership strategy 2024-28 for SL to foster sustainable recovery, build resilience, and revive growth
The Asian Development Bank (ADB) has launched a new country partnership strategy (CPS) for Sri Lanka covering the period 2024–2028. The strategy will focus on restoring the country’s macroeconomic stability, reviving growth, and establishing the foundation for sustainable recovery and resilience. “This new partnership strategy will build on ADB’s ongoing assistance to support the country’s efforts to […]
Visa sees 35%+ surge in debit card spends; trend expected to continue in upcoming Avurudu season
Visa (NYSE: V), the global leader in digital payments, today announced that Visa debit card spends saw a significant increase of over 35% in the past year, indicating healthy growth of digital payments in Sri Lanka. This increase is buoyed by a 30%+ increase in face-to-face spends and over 40% increase in ecommerce spends. As […]
CBSL strengthens Business Revival Units in Banks to Support Revival of Businesses
The Central Bank of Sri Lanka issued broad guidelines to licensed banks on 28 March 2024, to further strengthen the functions of already established Post COVID-19 Revival Units and reformulate such units as Business Revival Units (BRUs). The enhanced scope of proposed BRUs will facilitate sustainable revival of viable businesses affected by the extraordinary macroeconomic […]
”’ magazine takes flight in the Middle East to help build economic bridges
Embarking on a journey of connectivity, the Kuwait Chapter of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) ventured into uncharted territories by marking a significant milestone in the landscape of communication with the launch of “The Hub” magazine. The magazine was officially launched at the Crowne Plaza Hotel in Kuwait, with […]
ComBank partners with IFC to develop Supply Chain Financing strategy
The Commercial Bank of Ceylon has announced a collaboration with the International Finance Corporation (IFC) to build a Supply Chain Financing (SCF) strategy that will enable the Bank to lend more to Small and Medium Enterprises (SMEs) and establish itself as a leading SCF bank in Sri Lanka. IFC has identified Commercial Bank as a […]
Thai PM’s Office on fact finding mission at Hambantota International Port
A delegation from the Thai Prime Minister’s office visited the Hambantota International Port (HIP) to explore opportunities and understand how the port operates under the public private partnership between the government of Sri Lanka and CM Port. The 8 member delegation included Ms Wannaporn Niyomthong, Deputy Director from Directorate 8 of Thailand; Surapat Phosaen, Minister […]
Sri Lankan Microfinance Bank LOLC opens new branch in Islamabad
The LOLC Microfinance Bank inaugurated its latest branch in the Blue Area of Islamabad. The High Commissioner of Sri Lanka to Pakistan Admiral Ravindra C. Wijegunaratne graced the opening ceremony as the Chief Guest on 22 March 2024. Addressing the gathering, the High Commissioner emphasized the significance of promoting financial inclusion and acknowledged the pivotal […]
Dhaka Chamber discusses economic cooperation with Sri Lanka HC
High Commissioner of Sri Lanka to Bangladesh Dharmapala Weerakkody accompanied by Counsellor / Commerce of the High Commission Srimali Jayarathne held a productive meeting with the newly appointed President of the Dhaka Chamber of Commerce and Industry (DCCI) Ashraf Ahmed on 24 March 2024 at the DCCI office in Dhaka. During the meeting, DCCI President […]
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ADB approves USD100 Mn Loan to support SMEs in Sri Lanka
The Asian Development Bank (ADB) has approved a $100 million loan to provide small and medium-sized enterprises (SMEs) in Sri Lanka more access to finance and build their resilience to external shocks, such as the economic crisis and climate change. “SMEs play a critical role in Sri Lanka’s economy, contributing 52% to the country’s gross […]
Union Bank unveils bold new logo in sync with new transformational phase
Union Bank, now partnered by the strength of the global conglomerate CG Corp Global, recently unveiled a new logo that embodies the Bank’s new strategic vision and transformation. Leveraging on the brand’s rich history of over 29 years as a trusted financial services brand in Sri Lanka, the new logo has been designed as an […]
Brantel appointed Partner and Reseller of global networking giant Cisco
Brantel Lanka (Pvt) Ltd., has announced the Company’s appointment as a Partner and Authorised Reseller in Sri Lanka for Cisco Networks, the global leader in networking hardware, software and services. The Company said its primary role as a Cisco Partner would be to help build the online presence, and automate the business processes, of small […]