Examining specific industries such as technology, healthcare, finance, and manufacturing, including trends, challenges, and opportunities within each sector.
Inovartic Investment Lanka Ltd., a new joint venture between Sri Lanka’s Apex Asia Holdings and UAE’s Inovartic Investment LLC, is set to advance the manufacturing of graphene and related products in Sri Lanka and Abu Dhabi. Supported by Abu Dhabi University (ADU) and in collaboration with the Sri Lanka Institute of Nanotechnology (SLINTEC), this partnership
The US Federal Reserve has cut its interest rate by 50 basis points, bringing the target overnight rate to 4.75%-5.00%. Fed Chair Jerome Powell stated that inflation and employment are now more balanced. “Inflation is much closer to our target, and we are increasingly confident that it is moving sustainably toward 2 percent,” Powell said
Ceylinco Life has announced its pioneering investment of Rs. 2 billion as the anchor investor in Sri Lanka’s first-ever Green Bond, issued by DFCC Bank. This landmark initiative, opening for subscription today, aims to raise up to Rs. 2.5 billion to fund solar photovoltaic (PV) power generation projects, including ground-mounted, floating, and rooftop solar facilities
The Cabinet has officially approved the IT Strategic Plan for the Inland Revenue Department, as announced by Cabinet Spokesman and Minister Dr. Bandula Gunawardhana during a press conference held at the Government Information Department on September 10, 2024. Dr. Gunawardhana detailed that the IT Strategic Plan, designed to digitize the Inland Revenue Department, was a
The Chamber of Young Lankan Entrepreneurs (COYLE) has launched an ambitious initiative known as the COYLE Global Platform, aimed at empowering Sri Lankan industries to establish a foothold in international markets. This groundbreaking project is a collaboration between COYLE and its former members, along with international business chambers, to elevate Sri Lankan enterprises to new
The Cabinet of Ministers has approved the establishment of a Financial Stability Fund aimed at strengthening Sri Lanka’s bank resolution framework as part of the Central Bank of Sri Lanka’s (CBSL) financial crisis management program. The initiative will begin with an initial allocation of Rs. 1 billion from the Ministry of Finance, Economic Stabilisation, and
DFCC Bank PLC in Sri Lanka is set to launch a senior, rated, 3-year green bond issue to raise Rs 2 billion, with a potential Greenshoe option to increase the amount to Rs 2.5 billion. The subscription list for the green bond issue opens on Thursday, the 12th. The bank will initially issue 20 million
First Capital (FC) anticipates that bank lending rates will remain within the 9-11% range for the rest of 2024 and rise slightly to 10-12% by mid-2025. This projection comes amidst slow economic conditions, weak demand for credit, and a lag in the reduction of new loan rates. The Average Weighted Prime Lending Rate (AWPLR) dropped
Medcube USA LLC has officially launched Version 1.0 of CLAUDMD, its cutting-edge Medical Billing Software that integrates Patient Management (PM) and Electronic Health Records (EHR). The launch event took place at MedCube’s Colombo office. CLAUDMD replaces legacy systems AeilusMD and GalenMD, which have been in operation in the USA since 1983. MedCube (Pvt) Ltd, based
In a special session held on Tuesday, Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka (CBSL), provided a comprehensive briefing to Members of Parliament on the measures taken to stabilise the country’s economy. This session, chaired by Speaker Mahinda Yapa Abeywardena, was conducted in accordance with Section 80 (2) (a) of the