In the event of the inward-looking Trump administration enacting regulations to restrict foreign IT professionals entering the United States, VirtusaPolaris, a US-based technology company, says more work will move out of the US to countries like India and Sri Lanka.
Credit extended to Sri Lanka’s private sector by the country’s financial system throughout 2016 reached an all-time high of Rs.755.5 billion, surpassing the previous highest of Rs.692 billion in 2015, Central Bank data showed.
The government could provide support to the insurance industry to help increase the level of life insurance penetration in Sri Lanka, AIA Group officials said yesterday during a media briefing held to announce their latest product. “It should be made, in my opinion, compulsory, some level of insurance,” AIA Group Regional CEO Bill Lislie said.
Standard Chartered yesterday gave thumbs up for Sri Lanka’s economic outlook as the global investor interest in the country is “going through the roof” due to a combination of push and pull factors stemming from the island nation’s reform-oriented government to more adventurous investors, who seek higher yields.
Stax, a global strategy consulting firm that advises leading private equity (PE) funds worldwide, noted that investment and merger and acquisition (M&A) activity in Sri Lanka has increased over the past two years.
The government’s current reform agenda is both ad-hoc and unlikely to be completed, according to a panel of economists who said this could exacerbate the current low growth climate, adding to the woes of a volatile coalition administration.
The registration of three-wheelers has nosedived to a quarter of the previous levels since the new loan-to-value (LTV) ratios for automobile financing came into effect this month, according to an industry expert.
A team of economists from the Standard Chartered Bank yesterday ‘strongly recommended’ Sri Lanka continuing with the International Monetary Fund (IMF) programme and strengthening the country’s foreign reserve base to face turbulent times forecasted globally.
In terms of the provisions of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), the Financial Intelligence Unit (FIU) of Sri Lanka entered into a memorandum of understanding (MoU) with the Registration of Persons Department yesterday,
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