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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…

“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…

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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