Positioned between west and east Asia, Sri Lanka sits on a major maritime route between Europe and the Far East and its natural resources have made it a trading centre for millennia.
The Colombo Stock Exchange (CSE) is finalising plans to launch a dollar trading board, part of a broader strategy to develop Sri Lanka’s bourse into a regional capital markets centre and boost the inflow of foreign funds.
Increased access for air travellers, stronger advertising campaigns and enhanced bilateral cooperation are underpinning Sri Lanka’s push to expand its foothold in one of the world’s largest potential tourism source markets – India.
Following several years of high lending, hiked interest rates and the pursuit of Basel III compliance, credit growth in Sri Lanka could slow this year and into 2018.
The recent decision by the EU to reinstate Sri Lanka to its tariff exemption scheme, designed to assist developing countries in achieving upper-middle-income status, should serve to boost exports and generate renewed private sector investment.
Having arrived in Sri Lanka in 1505, Portuguese explorers quickly established a foothold via their trading relationship with the kingdom of Kotte. In 1521 an uprising in the kingdom saw King Vijayabahu VII’s three sons mutiny and kill their father in a bid for power, in what would become known as the “Spoiling of Vijayabahu”. Soon afterwards,...
ETIQUETTE: Business settings remain formal with small cultural nuances, but leeway is given to foreigners in this respect. While men normally shake hands with other men, and women with women, some women may not wish to shake hands with a man outside of family circles. It is best to wait and see if a...