The Sri Lankan government is setting the stage for Colombo Port City to become a global hub for IT and Business Process Outsourcing (BPO) firms, supporting its vision to develop a USD 15 billion digital economy by 2030. Modeled after Dubai and Singapore, the Port City’s regulatory framework now includes competitive tax breaks, provisions for
As of 25th October 2024, the Colombo Stock Exchange (CSE) has emerged as the second best performing equity index in Asia, with the All Share Price Index (ASPI) reporting a remarkable year-to-date return of 29.65% in USD, according to Bloomberg. This performance highlights the resilience of Sri Lanka’s capital market and its increasing appeal to
A delegation from Japan’s Mirai Consulting Group recently visited Sri Lanka to explore potential investment opportunities in various sectors of the country’s economy. Led by Mirai’s Chief Operating Officer Okada Atsushi and international business consultant Shaakir Hussain Sathar, the team met with Export Development Board (EDB) Chairman Kingsley Bernard. The primary goal of their visit
On Monday, September 9, 2024, Sri Lankan dollar bonds experienced a sharp sell-off, which may attract bargain hunters as investors reassess their positions ahead of the upcoming presidential elections, market experts suggest. According to Bloomberg, the decline in Sri Lankan dollar bonds intensified as investors reduced their exposure due to rising political uncertainties ahead of
Sri Lanka’s National Development Bank Plc (NDB) has announced plans to raise up to 10 billion rupees through a debenture issue. The bank will offer Basel III-compliant, Tier 2 listed, rated, unsecured, subordinated, redeemable debentures with a non-viability conversion at 100 rupees each. Initially, 50 million of these 5-year debentures will be issued, with the
Prime Group has unveiled its most ambitious project to date, the “YOLO” apartment city in Kiribathgoda, marking a new era in luxurious urban living. This groundbreaking development, with an investment of Rs. 15 billion, spans 13 acres and introduces a host of innovative features and amenities. The YOLO project will offer 476 high-end residences, designed
The Qatar Sri Lanka Business Council was officially launched in Doha, marking a significant milestone in the strengthening of economic ties between Qatar and Sri Lanka. The event, held in the presence of Sri Lankan Ambassador to Qatar Mohamed Mafaz Mohideen, Qatar Sri Lanka Business Council President John Prasad, and other dignitaries, underscored the council’s
A 12-member delegation from Oneroad Group DMCC Dubai, a prominent global investment consortium, concluded a fruitful visit to Sri Lanka from July 7-14, 2024. Led by Chenling Zhang, Group CEO of Oneroad Group, the delegation focused on sectors vital to Sri Lanka’s economic advancement, including tourism, minerals, transportation, and the Colombo Port City project. The
Japanese investors have shown a keen interest in introducing Japan’s latest technology into training programs for Sri Lanka’s maritime and aviation sectors. They also inquired about current investment and entrepreneurship opportunities in these sectors, expressing confidence that the skills and potential of Sri Lankan youth in modern technology could be greatly enhanced through successful implementation.
In response to the challenge of low savings rates and limited investment opportunities, Sri Lanka is unveiling a series of initiatives aimed at enhancing financial literacy, encouraging savings, and introducing accessible investment products. These measures are designed to empower citizens to secure their financial futures and contribute to the nation’s economic growth. Many Sri Lankans