Central Bank of Sri Lanka (CBSL) Governor Dr. Nandalal Weerasinghe has received the second highest Grade “A” in the influential magazine Global Finance’s Report Card 2024.
The US Embassy yesterday announced an additional commitment of $ 24.5 million (Rs. 7.2 billion) from the American people to further our long-standing investment in the people of Sri Lanka and our partnership.
The Cabinet of Ministers on Monday approved the nomination of Colombo Marina Development Ltd., as a primary venture with strategic development status under the provisions of the Colombo Port City Economic Commission Act No. 11 of 2021. This designation will allow the company to receive specific incentives and encouragements pertinent to the project.
The Financial Intelligence Unit (FIU) of Sri Lanka entered into a Memorandum of Understanding (MoU) with the Registrar General of the Registrar General’s Department on 6 August at the Central Bank of Sri Lanka (CBSL) to receive information on Trusts, property registrations, and any suspicious activities relating to Trusts and property registrations in relation to Money Laundering (ML), Terrorist Financing (TF) and related crimes.
The Colombo Dockyard (CDPLC) last week ceremonially laid the foundation to build a full-fledged engineering workshop at the Hambantota International Port (HIP).
In a move to further strengthen Sri Lanka’s burgeoning tourism ties with Poland, the Sri Lanka Tourism Promotion Bureau (SLTPB) welcomed popular Polish celebrity couple Cezary Pazura and Edyta Pazura to the island nation.
A top level delegation led by OneWorld Duty Free CEO/Founder Keira Zhang met with the Board of Investment Chairman Dinesh Weerakkody and officials of the BOI and Port City Colombo last week to discuss investment opportunities in Sri Lanka and the duty free operation at Port City Colombo.
The Asian Development Bank (ADB) and the Government of Sri Lanka on Monday signed a loan agreement for $ 100 million for subprogram 1 of a policy-based loan (PBL) to support and facilitate reforms aimed at enhancing the financial sustainability of the power sector in Sri Lanka.
Sri Lanka’s tourism industry has seen significant growth in 2024, with earnings reaching nearly $ 2 billion in the first seven months of the year, boosted by an influx of over 1.25 million visitors year-to-date.
Visa India and South Asia Vice President and Product Head Ramakrishnan Gopalan predicts Sri Lanka will drive growth in digital payments, cards and contactless instruments
Points to significant penetration of debit cards in Sri Lanka with expected growth in credit card usage
Highlights Sri Lanka’s rapid adoption of new payment trends showing readiness for digital payment adoption
Visa Country Manager for Sri Lanka and Maldives Avanthi Colombage says over 35% increase in Visa debit card spending in 2023
Says increased debit card usage in Sri Lanka mirrors trends in developing countries, favouring card payments over cash
Opines economic recovery boosts opportunities for affluent consumption, tourism, and low inflation
Cites growing popularity of ‘buy now, pay later’ schemes, literacy in using multiple payment instruments
Asserts significant industry investment requirement to support the Govt.’s digital economy efforts