Business Today Sri Lanka - August 2023

In this issue

Last month’s news of two systemically important financial institutions, Deutsche Bank and Credit Suisse, 19th-century titans in banking, being fined by the US Federal Reserve Board and the UK Prudential Regulatory Authority has become a wake-up call to urge a review of corporate governance and risk management strategies.

President Ranil Wickremesinghe, on his maiden official visit to India after assuming Presidency, conveyed a resolute commitment to strengthen the bilateral ties between India and Sri Lanka.

Lesetja Kganyago, Governor of the Reserve Bank of South Africa, addressing the tenth annual Michel Camdessus Central Banking Lecture 2023 organized by the International Monetary Fund, spoke at length on how emerging markets could leverage the benefits of capital flows for sustainable growth by listing out a set of best
practices to optimize results.

Gautam Adani, Chairman, Adani Group called on Bangladesh Prime Minister Sheikh Hasina in Dhaka following the full load commencement of power supply to Bangladesh from the Group’s Ultra Super-Critical Thermal Power Plant in Godda, India.

That the merger of HDFC Bank with its parent company, Housing Development Finance Corporation Limited, is setting records and catapulting India’s financial institutions into the global top hundred leagues is a cause for celebration for an economy of the size of India, the Poseidon sailing into the vast ocean of economic prosperity.

Two Global Banking Giants Face the Regulators' Wrath

Last month’s news of two systemically important financial institutions, Deutsche Bank and Credit Suisse, 19th-century titans in banking, being fined by the US Federal Reserve Board and the UK Prudential Regulatory Authority has become a wake-up call to urge a review of corporate governance and risk management strategies

6 mins

Strengthening Historic Indo-Lanka Joint Vision for the Next 25 Years

President Ranil Wickremesinghe, on his maiden official visit to India after assuming Presidency, conveyed a resolute commitment to strengthen the bilateral ties between India and Sri Lanka

6 mins

Prime Minister Narendra Modi on Sri Lankan President's visit to India

I warmly welcome President Wickremesinghe and his delegation to India

2 mins

In order for a country to develop economically, it must be open to the world: President Ranil Wickremesinghe

President Ranil Wickremesinghe stated that he is interested in exposing Sri Lanka to the world for economic development promptly as possible and to implement related legal reforms

3 mins

DFCC Bank Launches a Financial Solution to Make Your Ambitions a Reality

DFCC Bank understands the importance of investing early and has designed the DFCC Investment Planner to empower its customers to effortlessly build a healthy investment fund

1 min

The Role of Capital Flows to Sustainable Growth in Emerging Markets 2023 Michel Camdessus Central Banking Lecture

In an integrated world where financial globalization has seen an accelerated movement in capital across borders, many are pressing the pause button to reassess the strategy of relying excessively on external capital flows as a growth driver in times of global volatility. Lesetja Kganyago, Governor of the Reserve Bank of South Africa, addressing the tenth annual Michel Camdessus Central Banking Lecture 2023 organized by the International Monetary Fund, spoke at length on how emerging markets could leverage the benefits of capital flows for sustainable growth by listing out a set of best practices to optimize results. He underscored the importance of the quality of institutions in making the right policy choices and the quality of human capital empowered to run them, with the capacity to direct capital inflows into productive activities

10+ mins

HNB and Home Lands Holding Provide Affordable Financing for Real Estate and Property Investment

HNB signed on as the official banking partner for Home Land Holdings to offer prospective homeowners affordable payment solutions to invest in their own property

1 min

Adani Group Commissions India's First Transnational Power Project

Gautam Adani, Chairman, Adani Group called on Bangladesh Prime Minister Sheikh Hasina in Dhaka following the full load commencement of power supply to Bangladesh from the Group’s Ultra Super-Critical Thermal Power Plant in Godda, India

2 mins

HDFC Bank: The Behemoth of a Surging Nation

That the merger of HDFC Bank with its parent company, Housing Development Finance Corporation Limited, is setting records and catapulting India’s financial institutions into the global top hundred leagues is a cause for celebration for an economy of the size of India, the Poseidon sailing into the vast ocean of economic prosperity.

8 mins

Alternative Data Market Growing 2.5x Faster than Artificial Intelligence Industry; Revenues to Quadruple and Hit $19B by 2027

While investors and hedge fund managers usually rely on data from SEC filings and quarterly earnings to make informed investment decisions, recent years have witnessed a surging demand for alternative data as a powerful tool to grow investments and generate alpha

2 mins

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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.