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Government Grapples to Settle Billions in Construction Contractors Dues amid Economic Pressures

Behind the News

Sri Lanka’s remittance inflow at US $587.7 million in October 2024

Sri Lanka has recorded an 11.7% increase in workers’ remittances from January to October 2024 compared to the same period in 2023, according to latest figures released by the Central Bank of Sri Lanka (CBSL).

Top banker Kavinda de Zoysa appointed new Chairman of Bank of Ceylon

The Bank of Ceylon (BOC) has announced the appointment of Kavinda de Zoysa as its new Chairman. With over 30 years of experience in the banking industry, including 25 years in management, de Zoysa brings extensive leadership expertise and a strategic vision to the role.

ADB optimistic about reforms but warns of limited room to manoeuvre

Expects new government to focus on a more equitable burden-sharing strategy protecting needy Observes positive signs of continuity in reform programmes and policies Its 2024-2028 Country Partnership Strategy aims achieving sustainable recovery

Swarnamahal Financial Services PLC – Repayment of 50% of the Remaining Deposits

CNL Reporter
November 4, 2024
Banking and Financial
Swarnamahal
0 Comments

Consequent to the Order issued by the Monetary Board of the Central Bank of Sri Lanka to resume business of Swarnamahal Financial Services PLC (SFSP) for a limited time on a conditional basis,

Sri Lanka DFCC looks for investor after Acuity divestment deal fails

CNL Reporter
November 3, 2024
Banking and Financial
Sri Lanka DFCC
0 Comments

Sri Lanka’s DFCC Bank Plc is looking for an investor to sell its 50 percent in Acuity Partners after its deal for the sale did not go through as announced earlier.

People’s Bank’s Rs. 10 billion debenture snapped up

People’s Bank announced yesterday that it has successfully concluded the issuance of its BASEL III Compliant Tier 2, Unlisted, Rated, Unsecured, Subordinated Redeemable Debentures with non-viability write-down, as required by the Central Bank of Sri Lanka (CBSL), raising over Rs. 10 billion last month.

271 gemstones in Dept. of Geology remain unassessed since 1964

CNL Reporter
October 31, 2024
Banking and Financial
gemstones
0 Comments

The Department’s Geology division is in possession of 271 gemstones which have been securely deposited at the Metropolitan Branch of the Bank of Ceylon since September 18, 1964, remains unassessed, the National Audit report in 2023 revealed.

Sri Lanka Seylan bank Net up 4.6-pct in September 2024 quarter

Profits at Sri Lanka’s Seylan Bank Plc group grew 4.61 percent to 2.06 billion rupees in the September, 2024 quarter, interim accounts showed.

Sri Lanka eyes default exit by December; IMF review completion after budget: CB Governor

CNL Reporter
October 31, 2024
Banking and Financial
IMF, Sri Lanka
0 Comments

Sri Lanka aims to conclude its debt restructuring process by year-end, with expectations for a prompt exit from the default rating category soon after,

Government Grapples to Settle Billions in Construction Contractors Dues amid Economic Pressures

Sri Lanka’s remittance inflow at US $587.7 million in October 2024

Top banker Kavinda de Zoysa appointed new Chairman of Bank of Ceylon

ADB optimistic about reforms but warns of limited room to manoeuvre

Swarnamahal Financial Services PLC – Repayment of 50% of the Remaining Deposits

Sri Lanka DFCC looks for investor after Acuity divestment deal fails

People’s Bank’s Rs. 10 billion debenture snapped up

271 gemstones in Dept. of Geology remain unassessed since 1964

Sri Lanka Seylan bank Net up 4.6-pct in September 2024 quarter

Sri Lanka eyes default exit by December; IMF review completion after budget: CB Governor

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