United States Provides $75 million to NDB Bank to Strengthen Sri Lankan Small and Medium Businesses
The United States is providing a welcome boost to Small and Medium Enterprises (SME) in Sri Lanka struggling with the impact of the pandemic. The U.S. International Development Finance Corporation…
DFCC Bank’s incorporation of Google Workspace proves to be fruitful
In May of last year, DFCC Bank became the first in the country’s banking industry to join hands with Finetech Sri Lanka and implement Google Workspace (formerly known as G…
Delhi-Colombo-Beijing triangle undergoes another shift
By Professor Harsh V Pant Chinese Defence Minister Gen. Wei Fenghe was in Sri Lanka last week seeking to shore up support for Chinese projects at a time when new…
Bangladesh Offers $500M Lifeline to Sri Lanka ahead of $1B Dollar Bond Maturity
In a first for Bangladesh, the country has extended a lifeline of sorts to the beleaguered Sri Lankan economy, offering to top up the island nation’s depleting foreign reserves by…
Sri Lanka to Secure $200m currency swap facility from Bangladesh to maintain FX Reserve
The Bangladesh Bank board on Sunday approved in principle a draft $200-million currency swap deal with Sri Lanka, which is struggling to maintain a moderate foreign exchange reserve. The currency…
CBSL to Launch a New Mechanism to Monitor Foreign Exchange Operations through Banking Sector in 2022
The Central bank of Sri Lanka (CBSL) is in the process of operationalizing an International Transactions Reporting System (ITRS) that will monitor both cross-border and foreign currency transactions in the…
Sri Lanka’s Banking Sector’s MSME Lending Portfolio Among Weakest in Asia-Pacific
Despite much hype, Sri Lanka’s banking sector’s to Micro, Small and Medium-sized Enterprises (MSMEs) lending portofolio is one of the poorest in the Asia-Pacific region in terms of loan disbursements…
DFCC Bank partners with Visa for Micro Merchant transactions
DFCC Bank, with the aim of being the most customer-centric and digitally-enabled bank in the years to come, recently partnered with Visa to facilitate digitally driven, cost-effective transactions at Micro…
Shares back in RED after a rollercoaster ride
The Colombo Bourse today continued to play on a rollercoaster movement throughout the session reverting ASPI back to negative posture “The index spiked in the first few minutes and then…