February 10, 2023
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4min
      February 9th2023; Colombo: EY Global Delivery Services (EY GDS) Sri Lanka — part of the global EY network of service delivery centers with a focus on innovation, technology and process improvement — joined hands with the Sri Lanka Association for Software Services Companies (SLASSCOM) as the Exclusive Platinum Sponsor of Sri Lanka’s […]

March 31, 2022
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4min
        Sri Lankan Parliament confirmed the enactment of the much-awaited Data Protection Act (DPA) on 10th March 2022, empowering Data Protection Authority to impose penalties of up to Rs.10 million per non-compliance and providing individuals with ‘data subject rights to exercise their ‘Right to Privacy’. To a large extent, the new privacy […]

March 14, 2022
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4min
        The Personal Data Privacy Act will apply to any entity processing personal data wholly or partly in Sri Lanka, and/or processing or monitoring personal data of data subjects in Sri Lanka. Appointment of Data Protection Officers will be mandatory for companies processing high volumes of personal data and good practice for […]

November 16, 2021
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5min
      The Central Bank of Sri Lanka (CBSL) directions on classification, recognition and measurement of credit facilities and other financial assets will come into effect from 01st January 2022 onwards. It’s paramount for bankers to understand the regulatory expectations in this regard. New directions were introduced with the objective of harmonizing the regulatory framework with […]

March 25, 2021
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7min
      The stark reality of business’ bottom line was undoubtedly unearthed as a result of the COVID-19 pandemic and the demand it created to hasten the response to transformational needs. Stress Testing in the Internal Capital Adequacy Assessment Processes (ICAAP) is no longer an option today. It is how financial institutions can ensure […]


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Lanka Business News is amongst the leading online Business News portals in Sri Lanka, unique for its focus on contemporary business news relevant across multiple industries operating in the country. We present not only the news, but a perspective based on observations and possible implications of a prevailing news item. LBN also provides an insight to the impact of a global economic or industrial development, thus helping stakeholders make informed and calculated decisions.




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