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Commercial Credit and Finance secures 1st place in K Seeds Investments’ ranking report
K Seeds Investments (Pvt) Ltd identified Commercial Credit and Finance PLC as the best performing finance company under the 1st category among the 28 listed finance companies in Sri Lanka through a ranking carried out based on their financial performance for the fourth quarter of 2023/24. The report segregates the finance companies based on the […]
ComBank biggest lender to Sri Lanka’s SMEs for 4th consecutive year
The Commercial Bank of Ceylon was the biggest lender to Sri Lanka’s small and medium enterprises (SME) sector by a huge margin in 2023, accounting for nearly a third of the value of the loans disbursed by a total of 17 state and private sector lending institutions, the Ministry of Finance has confirmed. According to […]
‘s IMF agreement
Dr. Harsha de Silva has expressed significant concerns regarding the proposed imputed rent tax under Sri Lanka’s agreement with the International Monetary Fund (IMF), a statement said. He emphasized that this tax, categorized as an income tax rather than a property tax, could disproportionately impact a wide range of income earners. In a detailed analysis, […]
New World Bank Chief for Sri Lanka, Maldives and Nepal
David Sislen is the World Bank’s new Country Director for Maldives, Nepal, and Sri Lanka, effective July 1, 2024. Sislen succeeds Faris Hadad-Zervos, who will be taking on a new World Bank assignment. He isa dual national of the US and Italy, joined the Bank in 2001 as an Economist in the Urban Cluster Unit […]
Indian External Affairs minister Dr. Jaishankar to arrive tomorrow in Sri Lanka
The Minister of External Affairs of India, Dr. Subrahmanyam Jaishankar will be undertaking an official visit to Sri Lanka on 20 June 2024. During this visit, the External Affairs Minister of India is scheduled to pay courtesy calls on President Ranil Wickremesinghe and Prime Minister Dinesh Gunawardena. The visiting Indian External Affairs Minister and his […]
CFA Society Sri Lanka celebrates capital market excellence
The annual CFA Society Sri Lanka Capital Market Awards recognizing and rewarding excellence in the local capital markets was held on Tuesday, 18 June 2024, at the Oak Room, Cinnamon Grand, Colombo. This year’s CFA Society Sri Lanka Capital Market Awards – a flagship event in the CFA Society Sri Lanka calendar – was held […]
Ceylon Chamber and Global Alliance partner for sustainable development and climate action
The Ceylon Chamber of Commerce and the Global Alliance for a Sustainable Planet (GASP) signed a Memorandum of Understanding (MOU) to tackle urgent climate change issues and promote sustainable development globally. This partnership comes as the recent Intergovernmental Panel on Climate Change (IPCC) report highlights a significant risk of global temperatures rising 1.5°C above pre-industrial […]
Ceylon Chamber commends board-level agreement on second IMF review, Calls for sustained economic reforms
The Ceylon Chamber of Commerce congratulates the Government of Sri Lanka for securing a board-level agreement on the second review of Sri Lanka’s Extended Fund Facility (EFF) with the International Monetary Fund (IMF).This agreement provides Sri Lanka with immediate access to approximately SDR 254 million (about USD 336 million) in financing. This significant development further […]
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Fitch Ratings – Colombo – 14 Jun 2024: Fitch Ratings has assigned National Development Bank PLC’s (NDB, A-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III- compliant subordinated debentures of up to LKR10 billion an expected National Long-Term Rating of ‘BBB(EXP)(lka)’. KEY RATING DRIVERS The proposed debentures will mature in five years and will be listed on […]
Global growth stabilizing; but 80-pct population to see slower pre-COVID decade growth: WB
The global economy is expected to stabilize for the first time in three years in 2024—but at a level that is weak by recent historical standards, according to the World Bank’s latest Global Economic Prospects report. Global growth is projected to hold steady at 2.6% in 2024 before edging up to an average of 2.7% in 2025-26. […]