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HSBC and Nationwide Building Society to Prohibit Credit Card Purchases of Cryptocurrencies in the UK

HSBC and Nationwide Building Society to Prohibit Credit Card Purchases of Cryptocurrencies in the UK - TRADERCHAMP  3 total views,  3 views today HSBC Holdings and Nationwide Building Society, two UK-based banks, have banned retail customers from using credit…

Litecoin experiences 11% drop in selloff

Litecoin experiences 11% drop in selloff - TRADERCHAMP  1 total views,  1 views today On Friday, Litecoin experienced its largest one-day percentage loss since November 9, 2022, falling by 11.42%…

Bank of Ceylon records 25.3% increase in profits in December 2022, Sri Lanka’s largest lender

Bank of Ceylon records 25.3% increase in profits in December 2022, Sri Lanka's largest lender - TRADERCHAMP  7 total views,  7 views today The largest lender in Sri Lanka, the state-run Bank of Ceylon (BoC), reported a net profit…

Tesla engineers promise to reduce EV production costs by 50%, but no announcement yet on affordable car debut from Musk

Tesla engineers promise to reduce EV production costs by 50%, but no announcement yet on affordable car debut from Musk - TRADERCHAMP  4 total views,  4 views today Tesla engineers informed investors on Wednesday that the company will reduce assembly costs by 50% in…

“US Initial Jobless Claims Continue to Decrease, Reaching 190k Last Week”

"US Initial Jobless Claims Continue to Decrease, Reaching 190k Last Week" - TRADERCHAMP  1 total views,  1 views today Last week, the US labor market continued to outperform expectations as the number of initial jobless…

Sri Lanka’s Stock Market Gains Amid Expectations of Securing IMF Loan

Sri Lanka's Stock Market Gains Amid Expectations of Securing IMF Loan - TRADERCHAMP  7 total views,  7 views today Brokers reported positive sentiment in Sri Lanka’s stock market on Wednesday, as investors anticipate a final…

Sri Lanka’s Rupee Strengthens, Closing at Rs353.46/353.50 Against US Dollar

Sri Lanka's Rupee Strengthens, Closing at Rs353.46/353.50 Against US Dollar - TRADERCHAMP  7 total views,  7 views today Dealers reported that the Sri Lankan rupee closed at 353.46/353.50 to the US dollar in the…

Sri Lanka’s economy at risk of coming to a halt due to anti-tax strikes

Sri Lanka's economy at risk of coming to a halt due to anti-tax strikes - TRADERCHAMP  9 total views,  9 views today Trade unions representing medical, banking, and other sectors in Sri Lanka have gone on strike, demanding…

World Bank initiates development of new lending framework for Sri Lanka

World Bank initiates development of new lending framework for Sri Lanka - TRADERCHAMP  26 total views,  26 views today The World Bank has announced that it is working on a new Country Partnership framework for…

Sri Lankan stocks decline as investors anticipate Monetary Policy review

Sri Lankan stocks decline as investors anticipate Monetary Policy review - TRADERCHAMP  17 total views,  17 views today According to brokers, Sri Lanka’s stocks fell for the second consecutive session on Tuesday due to…

In January 2023, Sri Lanka’s Colombo inflation index, which has been recently rebased, declined to 50.6 percent.

In January 2023, Sri Lanka's Colombo inflation index, which has been recently rebased, declined to 50.6 percent. - TRADERCHAMP  3 total views,  3 views today source: tradingeconomics.com According to data from the state statistics office, Sri Lanka’s inflation in the capital…

The International Finance Corporation (IFC) has announced a $400 million swap facility for three banks in Sri Lanka. Commercial Bank of Ceylon, Sampath Bank, and Nations Trust Bank will receive the funding to support the import of essential goods like food, medicine, and fertilizers. The IFC’s cross-currency swap facility will provide much-needed forex liquidity, encouraging longer-term funding flows in the market and supporting the private sector. The facility is expected to boost investor confidence, attract fresh capital inflows, and support the Sri Lankan economy. The banks will also be able to finance exports of goods and services for their clients while making USD-denominated debt repayments. The IFC is working on further plans to support its client banks with long-term funding and advisory services in the future. This facility is a much-needed boost for Sri Lanka, which faced severe forex shortages in 2022 due to money printing and negative net open positions among its banks.

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