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…
Sri Lanka brings back offer of developing deep-sea port to India and Japan
Sri Lanka is once again offering a strategically located deep-sea port to India and Japan as the island seeks to balance traditional ties against China’s rising regional influence. The government…
Daily Turnover at CSE falls to the lowest point this year
The daily turnover of the Colombo Stock Exchange (CSE) fell to Rs 1.89 billion today, the lowest value seen so far during the year. The benchmark stock index ASPI ended…
COPE Orders to Sri Lanka Insurance submit a report on Maldives and Seychelles Branch Closures
Sri Lanka’s Legislative Committee on Public Enterprises (COPE) has ordered the State-Owned Sri Lanka Insurance Corporation (SLIC) to submit a report expeditious on its decision to close operations in Maldives…
Sri Lanka seeks $2.2 bn from China as reserves shrink
Sri Lanka is seeking $2.2 billion from Chinese banks, the government said Thursday, in echoes of a borrowing binge more than a decade ago that resulted in the country having…
Over 500 Sri Lankan migrant workers have died’ building Qatar’s World Cup infrastructure
557 migrant workers among the 6,500 migrant workers who have died during Qatar’s football World Cup preparations over the last decade, according to a report. It reported that On average…
Pakistan Offers $50 Million New Credit Line to Sri Lanka to Boost Defence Ties
Cash-strapped Pakistan has offered a $50 million new credit line to Sri Lanka to boost cooperation in the defence and security sectors. Pakistan Prime Minister Imran Khan announced the new…
Pakistan Pitches China-backed CPEC to Sri Lankan Investors
Pakistan’s Prime Minister Imran Khan who’s currently on his maiden official visit to Sri Lanka has invited Sri Lanka’s business community to invest in the $46 billion China-Pakistan Economic Corridor (CPEC)…
Sri Lanka CB says controlling foreign debt will ‘no doubt’ require some austerity
(Reuters) : Sri Lanka’s central bank governor said on Wednesday lowering the country’s reliance on foreign debt will require some austerity, as Colombo attempts to shore up confidence in its…
Spotify to Expand into Sri Lanka over the next few days
Swedish audio streaming and media services provider and the world’s largest music streaming platform, Spotify announced that it would expand into Sri Lanka over the next few days, as it…