Business Today Sri Lanka Magazine - November 2023

In this issue

The BRI and Sri Lanka’s Future through the President’s Lens
President Ranil Wickremesinghe spoke with Chinese media expressing his optimism about the initiative’s potential and prospects for development, his development agenda for Sri Lanka amid the debt and economic crises, and the criticality of pursuing trade and a sustainable development agenda.

Jerome H Powell at the Economic Club of New York
Jerome Powell discusses on the recent economic data and the outlook for monetary policy.

India: Frontiers of Central Banking in Asia
During the World Bank Group – International Monetary Fund Annual Meetings, Reserve Bank of India Governor Shaktikanta Das, discussed on how India tackled the impact of global shocks, effectively, experience with digitalization, in particular with pioneering the Central Bank Digital Currency, and how it has helped to improve financial inclusion, innovation and efficiency.

Indian External Affairs Minister Meets President Ranil Wickremesinghe

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

President Ranil Wickremesinghe Meets Chinese President Xi Jingping

A Comprehensive International Dialogue Essential to Address Global Challenges in 2024

The Number of Bitcoin ATMs Plunge by Almost 7,000 Year-to-Date, the Biggest Drop in the Market’s History

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

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

World’s Five Youngest Moguls Control $12.3 Billion Fortune; Who are they?

The BRI and Sri Lanka's Future through the President's Lens

China’s third Belt and Road Forum for International Cooperation got underway in October 2023 after a three-year lull which saw leaders of the developed and developing world congregating in Beijing. This year’s forum was significant. It marked ten years of the initiative. The delegations held meaningful high-level discussions on the sidelines of the much-anticipated dialogue amid two significant conflicts in Europe and the Middle East, where the thrust was for sustainable development and multilateralism based on cooperation. Sri Lanka, like many in the Global South, is on board the BRI. President Ranil Wickremesinghe attended the forum in Beijing. He also met Chinese President Xi Jinping at the Great Hall of the People. On the sidelines of the BRI, the Sri Lankan President also spoke with Chinese media, in Colombo first, with the host of Leaders Talk, Li Tongtong of China Global Television Network. In a departure, the host spoke in Mandarin while the President responded in Sinhala, and in Beijing, Wickremesinghe sat with CGTN Host Tian Wei. In both instances, the Sri Lankan leader expressed his optimism about the initiative’s potential and prospects for development, his development agenda for Sri Lanka amid the debt and economic crises, and the criticality of pursuing trade and a sustainable development agenda.

10+ mins

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.

1 min

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.

1 min

Jerome H. Powell at the Economic Club of New York

Before our discussion, I will take a few minutes to discuss recent economic data and the outlook for monetary policy.

4 mins

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.

10 mins

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.

2 mins

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.

1 min

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,

9 mins

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.

1 min

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’.

1 min

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”

6 mins

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.

2 mins

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).

1 min

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.

1 min

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.

3 mins

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.

3 mins

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.

1 min

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.

1 min

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.

1 min

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'.

1 min

Read all stories from Business Today Sri Lanka

Business Today Sri Lanka Magazine Description:

The magazine of the corporate world, Business Today features an interesting line-up of interviews with eminent personalities who impact the corporate, commercial and economic sectors. The monthly magazine also includes exclusive articles syndicated from the Harvard Business Review and Financial Times. It has also featured the monthly columns by Richard Branson and Howard Schultz. International interviews featured include Sir Richard Branson, Paul Allen, Howard Schultz, Omar Bin Laden and Sir Jonathan Ive. Articles penned by President Barack Obama and Vice President Joe Biden Jr. have also been featured in the magazine.