Category: Other
Webinar on CFA Institute Scholarships to progress in financial careers
CFA Institute scholarships are part of an ongoing commitment to promoting the highest standards of ethics, education, and professional excellence, thereby helping to make the CFA® charter more attainable and providing more candidates an opportunity to advance their careers in investment research. CFA Institute offers a variety of scholarships, allowing more people to participate in […]
Sharp, Long-lasting Slowdown to Hit Developing Countries Hard: World Bank
Global growth is slowing sharply in the face of elevated inflation, higher interest rates, reduced investment, and disruptions caused by Russia’s invasion of Ukraine, according to the World Bank’s latest Global Economic Prospects report. Given fragile economic conditions, any new adverse development—such as higher-than-expected inflation, abrupt rises in interest rates to contain it, a resurgence […]
French collaboration for capacity building in the Sri Lankan Rubber industry
The Ministry of Plantation Industries of Sri Lanka entered into a Memorandum of Understanding with a French expert in the rubber industry, KSAPA, for capacity building of Rubber Smallholders in Sri Lanka. A Memorandum of Understanding (MOU) between the Ministry of Plantation Industries of Sri Lanka and KSAPA was finalised with KSAPA Managing Director, Raphael […]
New UNDP Resident Representative takes office
Azusa Kubota presented her credentials on 9 January 2023 to the Ali Sabry, Minister of Foreign Affairs, officially taking office as the new Resident Representative for the United Nations Development Programme (UNDP) in Sri Lanka. Prior to her appointment in Sri Lanka, Ms. Kubota served as the Resident Representative at UNDP in Bhutan for 4 […]
Canada provides humanitarian assistance to vulnerable communities in Sri Lanka
In response to the humanitarian appeals launched by the United Nations (UN) and the International Federation of Red Cross and Red Crescent Societies (IFRC), Canada is providing $3 million (approx. LKR817 million) to help address the needs of the most vulnerable communities in Sri Lanka. This contribution will be delivered through the UN and the […]
Fitch 2023 Outlook: Most Sovereign Sector Outlooks Deteriorating, Global Rating Prospects More Balanced
Fitch Ratings’ ‘deteriorating’ 2023 sector outlook for global sovereigns reflects weaker global economic growth, rising funding costs and pressures from high inflation. The overall balance of sovereign rating outlooks is near to its long-term average, but further monetary policy tightening and elevated geopolitical tensions represent key challenges this year. Five of eight sovereign regions have […]
All paddy farmers to receive free TSP fertilizer in 2023 through USAID & FAO
The Food and Agriculture Organization of the United Nations (FAO), with funding through the United States Agency for International Development (USAID), will distribute 36,000 metric tonnes of Triple Super Phosphate (TSP) fertilizer to all paddy farmers in Sri Lanka through the Ministry of Agriculture. The amount of TSP provided per farmer will be determined based […]
Tribute: Dinesh Schaffter (1971-2022)
December 20, 2022 (LBO) – There is a sadness that has permeated Sri Lanka’s business community and my circles of friends in the last few days, as we try and take stock of the untimely and horrific demise of Dinesh Schaffter. There is something missing in my soul these last few days as I remember […]
Cabinet nod to new Central Bank of Sri Lanka bill
Sri Lanka’s Cabinet of Ministers has approved the new Central Bank of Sri Lanka bill which will be presented in Parliament next year. The original bill gazetted in November 2019 has been improved by incorporating new amendments in order to be able to perform the work of the Central Bank more efficiently and effectively to […]
Uber turns Seven in Sri Lanka, Covers over 555 million km in Trips
Uber completed seven years of operations in Sri Lanka and shared some interesting numbers as it touched a new milestone. In its seven years of operations, Uber has completed over 555 million kilometers in Uber trips around the island nation. That’s enough kilometers to travel to the moon from Earth and back 725 times! With […]
Romesh de Silva PC Opines on Ranil Wickremesinghe After 50 Years at the Bar (full speech)
December 8, 2022 (LBO) – Sri Lanka’s leading Silk Romesh de Silva PC delivered a speech felicitating President Ranil Wickremesinghe at an event in recognition of the President’s 50 years at the bar. The full speech is reproduced below: Today we are felicitating our president and deservedly so. The stated purpose is his completion of […]
World Growth Forecasts Cut Again as Inflation Fight Intensifies
World GDP forecasts for 2023 have been revised down again as central banks intensify their fight against inflation and the outlook for China’s property market deteriorates, says Fitch Ratings in its latest Global Economic Outlook (GEO) report published today. Fitch now expects world GDP to grow by 1.4% in 2023, revised down from 1.7% in […]