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Parliament Approves Offshore Banking Regulations At Port City Colombo
Port City Colombo announced that the two gazetted regulations, Offshore Banking and Offshore Banking — Prudent Management and Confidence, were officially passed by the Parliament of Sri Lanka on 4th September 2024. This milestone represents Port City Colombo’s ambitious aim to position itself as a formidable regional financial centre, which would attract an increased inflow […]
TISL urges CIABOC to reconsider the unwarranted redacting of asset declarations, to the public
The asset declarations of over 100 persons who are obligated to submit their asset and liabilities declarations, including top officials and the President, are now publicly accessible on the Asset Declarations webpage of the Commission to Investigate Allegations of Bribery or Corruption (CIABOC). This is an interim measure to make asset declarations public under the […]
Federal Reserve Easing Cycle Will Be Mild and Slow by Historical Standards: Fitch Ratings
The US Federal Reserve monetary policy-easing cycle that is about to begin will be mild and slow compared with previous Fed rate-cutting episodes, Fitch Ratings says in its latest Global Economic Outlook report. Services inflation in the US is still too high to be consistent with inflation returning to target on a sustained basis. Fitch […]
Opinion: Potential Impact of a Clean, Development-Focused Government on Sri Lanka’s Stock Market
By Uddeepa Peiris As Sri Lanka navigates through a complex political and economic environment, the need for a shift in governance has become more apparent. After years of economic challenges, corruption scandals, and political instability, the prospect of a political party coming to power with a commitment to zero corruption and high development potential is […]
Union Bank Launches 24 Hours Rapid Vehicle Leasing
Union Bank recently relaunched its leasing facilities with competitively low monthly rentals and 24 hours approval providing customers the flexibility for vehicle financing requirements, by offering customised leasing solutions. The monthly leasing rental offered by Union Bank currently is one of the best in the market, and is as low as just Rs 1, 689 […]
CSE and DFCC Bank Forge Strategic Partnership through New MOU
The Colombo Stock Exchange (CSE) and DFCC Bank PLC (DFCC) signed a Memorandum of Understanding (MoU) recently with the aim of enhancing the facilitation of Inward Investment Accounts (IIAs) for non-resident foreign individuals (FIs) in Sri Lanka. This collaboration will enable FIs to request IIAs when opening Central Depository Systems (CDS) accounts via the CSE […]
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Fitch Ratings has revised the Outlook on Sri Lanka-based UB Finance PLC (UBF) to Negative from Stable and affirmed its National Long-Term Rating at ‘BB(lka)’.
The Knox Journals: Passwordless Future of Security
Being productive has never been easier, thanks to our devices. From smartphones to smart homes, our lifestyles are now incredibly connected. But as this connectivity grows, so do concerns around device and data safety.Samsung has made it a priority to give you peace of mind when using connected device ecosystems as Knox Vault, passkeys and […]
JAAF calls for urgent action on business visa issue
The Joint Apparel Association Forum (JAAF) called on the Sri Lankan government to urgently resolve ongoing challenges related to the issuance of short term business visas, which have been halted since August 2. JAAF noted that all official foreign business visitors, including buyers, machinery suppliers, and technical service providers, have faced significant hurdles entering Sri […]
MV EVER ARM makes first call at SLPA controlled Colombo East Container Terminal
The container vessel MV EVER ARM made its first call at the Colombo East Container Terminal (CECT) on September 5, 2024. The vessel is part of Evergreen’s fleet, operating on the China-Europe-Mediterranean (CEM) route, sailing under the Taiwanese flag. This call marks a significant milestone for the Sri Lanka Ports Authority (SLPA), which operates the […]