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Amending Limits and Terms and Conditions on Possession of Foreign Currency

With the intention of attracting foreign currency in the hands of the public into the formal banking system, the Minister of Finance has issued an Order under Section 8 of the Foreign Exchange Act No. 12 of 2017 as follows: Reducing the amount of foreign currency retained in possession by a person in, or resident…

(0)Comments | June 25, 2022 9:47 am

Dr. Sanjiva Weerawarana, WSO2 Founder and CEO, Receives 2022 IEEE TCSVC Research Innovation Award

The IEEE TCSVC Research Innovation Award recognized Dr. Weerawarana for outstanding technical innovations in the field of services computing that have had a lasting impact WSO2, a leader in digital transformation technology, today announced that Dr. Sanjiva Weerawarana, WSO2 founder and CEO, is a recipient of the 2022 IEEE TCSVC Research Innovation Award. Each year,…

(0)Comments | June 24, 2022 2:26 pm

How the economic crisis in Sri Lanka is affecting Indian businesses?

Sri Lanka’s economy is in a free fall. But some spillover of the Lanka crisis is hurting Indian businesses too, like the auto sector. We try to gauge the overall effect of the crisis on India Business Standard – Sri Lanka is in a crisis. Covid-19 has sent the economy into a tailspin, and it…

(0)Comments | June 24, 2022 2:14 pm

Luminex Limited Officially Enters the Stock Market with a Listing on the CSE

Luminex Limited Lists on the Diri Savi Board after a capital raise of Rs. 250 Million 5th Equity Listing on the Exchange in 2022 Following the completion of the IPO process, the shares of Luminex Limited (CODE: LUMX-N-0000) ceremoniously commenced trading on the Colombo Stock Exchange (CSE) on the 23rd of June 2022. The shares…

(0)Comments | June 24, 2022 12:05 pm

New Insights into Sri Lanka Cauvery and Mannar Basins from FTG and Aeromagnetic Data to be presented at SEAPEX 2022

Bell Geospace, the world leaders in gravity gradiometry, has conducted the first aerial mapping of petroleum resources in Sri Lanka in Q4 of 2021, and will be presenting these insights – together with Wintermoon Geophysics- at the prestigious SEAPEX (South East Asia Petroleum Exploration Society) Asia Pacific Conference in London on Thursday the 30th of…

(0)Comments | June 24, 2022 9:13 am

Dilshan Wirasekara appointed as the new CSE Chairman

The Colombo Stock Exchange (CSE) is pleased to announce the appointment of Mr. Dilshan Wirasekara as the Chairman of the Board of Directors of the CSE with effect from 24th June 2022. Mr. Wirasekara has served on the Board of the CSE since 21st November 2017 and succeeds Mr. Dumith Fernando, who steps down as…

(0)Comments | June 24, 2022 9:05 am

How Sri Lanka’s Financial Crisis Could Become the World’s

(Bloomberg) – The calamity gripping the island nation’s 23 million people threatens to sweep up hundreds of millions more across five other countries. As the US, UK and other wealthy nations grouse about the prospect of stagflation and risk of recession, people in some emerging nations are facing more perilous questions about how to find…

(0)Comments | June 23, 2022 4:37 pm

European Union, Germany and EDB offer technical support to organic agriculture producers and exporters in Sri Lanka

Recognizing Sri Lanka’s potential in the organic agriculture sector and its’ importance for food security, the European Union (EU), the German Federal Ministry for Economic Cooperation and Development (BMZ) and the Export Development Board (EDB) have launched the Organic Agriculture Webinar Series: one-of-a-kind, accessible and educational video episodes that explore a variety of topics including…

(0)Comments | June 23, 2022 4:21 pm

SriLankan Airlines’ Cares Airlifts Critical Medicine to Sri Lanka

Sri Lankan Cares takes on the cause of airlifting internationally donated essential medicines and medical equipment to hospitals in Sri Lanka, free of freight charges. The corporate social responsibility arm of Sri Lankan Airlines aims to provide timely relief to hospitals that are struggling to cope with the ongoing drug shortage and patients who depend…

(0)Comments | June 23, 2022 3:02 pm

Indian Orthodox Tea Exporters To Benefit From Sri Lankan Crisis, Says ICRA

Indian orthodox tea producers and exporters could potentially benefit from the current economic crisis in Sri Lanka, said rating agency ICRA. Tea production in Sri Lanka, which is the largest exporter of orthodox teas globally accounting for 50 per cent of global trade, has been impacted in recent months due to withdrawal of the use…

(0)Comments | June 23, 2022 11:35 am

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