Global Debt

Imagine every living person in the world, adults, children, and even infants, every ablebodied individual to the not-so-able, having to work for three and a half years to pay off a colossal global debt of $300 trillion. The debt narrative has come to grip an increasingly unstable world, even as many countries have hit the pit with unwholesome debt in recent years. Everyone’s taking stock of the dangers and consequences of unbridled borrowing as the fear of households, businesses, and countries drowning in debt looms.

President Ranil Wickremesinghe Emphasizes Immediate Reforms in Global Financial Structure

President Ranil Wickremesinghe at the Third South Summit in Kampala, Uganda. Also present were Deputy Prime Minister of Somalia Salah Jama; South Africa's Minister of Foreign Affairs Naledi Pandor and Acting Foreign Minister of the Republic of Sudan Ambassador Ali Al-Sadiq.

Labor Market Trends

Mere numbers may not be the easiest way to gauge the health of Sri Lanka's labor market. However, recent data released by the Central Bank of Sri Lanka show changes in labor force participation, falling below 50 percent of the total employable population.

President Ranil Wickremesinghe briefs Indian CEOs on Sri Lanka's Economic Outlook

President Ranil Wickremesinghe took centre stage in a roundtable discussion organized by the Consortium of Indian Industry (CII) and World Economic Forum, unveiling a comprehensive economic vision for Sri Lanka.

President Ranil Wickremesinghe shares Sri Lanka's Positive Economic Outlook and Reforms at Business Roundtable in Switzerland

Addressing the Business Roundtable organized by BOI Sri Lanka and the Swiss-Asian Chamber of Commerce, during his official tour to Switzerland to attend the 54th Annual Meeting of the World Economic Forum, President Ranil Wickremesinghe highlighted significant strides in Sri Lanka’s economic recovery and outlined future growth prospects.

Global Disparities between Developing and Developed Nations have grown due to Technology Gaps and concerns of Weapons of Mass Destruction

President Ranil Wickremesinghe with several heads of state.

The Opportune Moment for Investing in Sri Lanka's Renewable Energy Sector

President Ranil Wickremesinghe highlighted the present as an opportune moment for investing in Sri Lanka’s renewable energy sector, expressing confidence in its potential to yield substantial benefits for both stakeholders and consumers in the coming decades. I thank the Swiss Asian Chamber of Commerce and their partners in organising this event for the invitation to speak today.

Plentiful Phones - Trends in the use of Cellular Phones

Sri Lanka is evidence of the power of a small handheld device to fulfill many human needs. Mobile phones and the internet are giving people new opportunities they never had before. No wonder Sri Lanka has more mobile phones than the country’s population, showing the widespread ownership of mobile phones nationwide. If we leave aside the young population who don’t own a mobile phone, the adults, it seems, are harnessing the benefits of multiple devices for daily navigation.

President Ranil Wickremesinghe New Investments for Rebuilding Affirms Trust in Sri Lanka's Economy

L–R: Moderator Mahin Khan, President Ranil Wickremesinghe; Vera Songwe, Founder and Chair of Liquidity & Sustainability Facility; Professor Laura Alfaro of the Harvard Business School; Professor Kenneth Rogoff of Harvard University and Wale Edun, Minister of Finance of Nigeria.

Global Business Leaders praise Prime Minister Modi's Visionary Approach at the Tenth edition of Vibrant Gujarat Global Summit (VGGS) 2024

Lakshmi Mittal

It is Time for New Dreams, New Resolutions and Continuous Accomplishments: PM Modi

His Excellency Filipe Nyusi, President of Mozambique; His Excellency Ramos-Horta, President of Timor-Leste; His Excellency Petr Fiala, Prime Minister of the Czech Republic; Governor of Gujarat Acharya Devvrat Ji; the popular Chief Minister Bhupendrabhai Patel; distinguished guests from Bharat and abroad; other dignitaries; ladies and gentlemen,

Japanese Finance Minister Commends Impressive Economic Advancements in Sri Lanka

Suzuki Shunichi, Japan’s Finance Minister arrived in Sri Lanka on a two-day official visit aimed at deepening economic relations with the Sri Lankan Government.

DFCC Bank Hosts a Power Breakfast with the Global ICC Chair

DFCC Bank hosted a Power Breakfast for their trade customers. It was conducted in collaboration with the International Chamber of Commerce, Sri Lanka, and featured Maria Fernanda Garza, who serves as the Global Chair of the International Chamber of Commerce (ICC). Garza is the first female Global Chair of the ICC and is also presently the CEO of Orestia.

HNB Partners with Marina Square Uptown Colombo

HNB announced a partnership with Harbour Village to redefine homeownership at Colombo's first and largest harbourfront mixed development project, Marina Square, Uptown Colombo.

HNB's DCC Feature Unveiled at 801st ATM at Doctor's House, Matara

HNB announced the opening of its 801st ATM at the Doctor's House Restaurant in Madiha, Matara, also taking the opportunity to roll out its DCC (Dynamic Currency Conversion) feature.

Pan Asia Bank Partners with MasterCard to Launch a Special Credit Card for Government Pensioners

Pan Asia Bank, demonstrated its commitment for the nation by launching a Credit Card for government pensioners who served the nation for many years, by keeping its brand promise as 'The Truly Sri Lankan Bank'.

People's Bank Completes the Nation's Largest Finance Sector SD-WAN installation with Hayleys Fentons ICT

People's Bank partnered with Hayleys Fentons ICT for a transformative SD-WAN project. This initiative covered 375 customer contact points across Sri Lanka, becoming the largest SD-WAN installation within the financial sector in the country.

DFCC Bank Bags Gold Award for Best Digital Marketing Campaign at ACEF Asia Leaders Awards 2023

DFCC Bank has proved its mettle internationally by clinching the gold award for Best Social Media Content on YouTube at the ACEF Asia Leaders Awards 2023. This marks the third consecutive year that DFCC Bank has received awards for digital marketing at the ACEF Asia Leaders Awards.

HNB and Standard Chartered triumph with the 'Best Trade Deal of the Year' award

Recognizing their contribution to supporting trade in Asia and the Pacific, HNB and Standard Chartered Bank were awarded top honors, receiving the coveted 'Best Trade Deal of the Year' award for Issuing Bank and Confirming Bank, respectively, at the Trade and Supply Chain Finance Program (TSCFP) Awards organized by the Asian Development Bank (ADB).

DFCC Bank Celebrated International Customer Service Week 2023

DFCC Bank marked Internat ional Customer Service Week 2023 with a series of events that resonated with this year’s theme, ‘Team Service’.

NDB Triumphs as Sri Lanka's Most Innovative Digital Banking Brand for 2023

NDB Bank was crowned the Most Innovative Digital Banking Brand Sri Lanka 2023 by the Global Brands Magazine UK.

World's five youngest moguls control $12.3 billion fortune; Who are they?

In an era where youthfulness and innovation are highly prized, a new breed of business tycoons has emerged globally. These individuals, barely into their 20s, have harnessed their entrepreneurial acumen, cutting-edge ideas, and support systems to amass a staggering fortune.

Born in the USA: You're $98,000 in debt at birth

In recent months, the United States has seen its national debt skyrocket to staggering levels, which is expected to continue. This debt predicament is a matter that transcends political affiliations and spans across generations, impacting American citizens of all ages and socioeconomic backgrounds.

Pan Asia Bank posts Steady Performance in Nine-Month Period in 2023

Pan Asia Bank reflected a steady performance amidst a multitude of adversities emerging from challenging macroeconomic conditions as the Bank reported its financial performance for the nine-month period of 2023, which showed careful portfolio management and prudency exercised in dealing with possible fallout on its asset quality under high-interest rate regime.

A Comprehensive International Dialogue Essential to Address Global Challenges in 2024

President Ranil Wickremesinghe at the Berlin Global Dialogue under the theme ‘Worldwide Economic Shocks and the Impact on the Global South”

President Ranil Wickremesinghe meets Chinese President Xi Jinping

President Xi Jinping of the People’s Republic of China stated that China is committed to assisting Sri Lanka in achieving economic stability without any political agenda. He expressed his desire to collaborate closely with President Ranil Wickremesinghe.

President Xi Jinping at the Third Belt and Road Forum for International Cooperation

Your Excellencies Heads of State and Government, Heads of International Organizations, Representatives of Various Countries, Distinguished Guests, Ladies and Gentlemen, Friends,

President Wickremesinghe embarks on observational tour of Huawei Company in China

Simon Lin, Senior Vice President of Huawei technologies and President of Huawei Asia Pacific, announced his company’s readiness to support an annual study program aimed at nurturing software and hardware engineers in Sri Lanka.

Indian External Affairs Minister meets President Ranil Wickremesinghe

India’s Minister of External Affairs, Dr. S. Jaishankar met with President Ranil Wickremesinghe at the Presidential Secretariat. Extensive discussions were held to further strengthen Indo-Sri Lankan relations, resulting in the signing of three new bilateral agreements aimed at enhancing cooperation between the two countries.

India: Frontiers of Central Banking in Asia

During the World Bank Group – International Monetary Fund Annual Meetings in October 2023 in Marrakech, Morocco, among some of the live events was “Governor Talks” that saw central bank heads sit down to speak on their country’s economies. During one such event with Reserve Bank of India Governor Shaktikanta Das, the focus was on how India tackled the impact of global shocks effectively, her experience with digitalization, in particular, with pioneering the Central Bank Digital Currency and how it has helped to improve financial inclusion, innovation, and efficiency.