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EU backs U.S. call for global minimum corporate tax, but rate to be decided

(Reuters) – The European Commission backed on Tuesday a call from U.S. Treasury Secretary Janet Yellen for a global minimum corporate tax, but said its rate should be decided in…

IMF, World Bank Begin Push To Swap Debt Relief For Green Projects

(AFP): The idea of forgiving debt held by poor countries in exchange for “green” investments gained ground this week during the spring meetings of the IMF and World Bank, with…

Policy Rates to Hold Steady As Indicators Make Headway – First Capital Research

The Monetary Board of the Central Bank of Sri Lanka (CBSL) is widely expected to hold policy rates steady in the upcoming Policy Review meeting, according to First Capital Research…

Cracking the Code of Financial Inclusion in Sri Lanka

By Savani Jayasooriya The refreshing taste of thambili, otherwise known as king coconut, is a preferred beverage for many Sri Lankans. Roadside stalls laden with thambili, like one owned by…

Visa moves to allow payment settlements using cryptocurrency

(Reuters) – Visa Inc said on Monday it will allow the use of the cryptocurrency USD Coin to settle transactions on its payment network, the latest sign of growing acceptance…

Central Bank Announces Six Month concessionary Period for Lease Payment Obtained By Passenger Transport Sector

The Central Bank (CB) instructed licensed commercial banks and licensed specialized banks to grant a concession for lease facilities obtained by COVID-19 affected businesses and individuals in passenger transportation services…

Sri Lanka’s discussions for emergency financial support with IMF failed due to disagreements over policy requirements

The International Monetary Fund (IMF) couldn’t proceed with disbursing emergency financial support for Sri Lanka as the discussions failed due to disagreements over policy requirements on debt sustainability to address…

China approves $1.5 billion currency swap with Sri Lanka

(Reuters) – China has approved a 10 billion yuan ($1.54 billion) currency swap with Sri Lanka, a government spokesman in Colombo said on Wednesday. The deal will allow the island…

CB decides to hold policy rates steady

The Central Bank(CB) decided to hold its policy rates steady while reemphasizing its commitment to sustain the low-interest rate structure until the economy recovers. The Monetary Board of the CCB,…

DFCC Bank’s impairment charge nearly doubles in 2020

DFCC Bank’s impairment charge nearly doubled to Rs Rs 3.3 billion at the end of 2020 when compared to the previous, the Bank announced. TheBank’s total impairment charge increased by…