Business leader Susantha Ratnayake has resigned as the Chairman of the Board of Investment of Sri Lanka (BOI) with effect from yesterday (30). Ratnayake has resigned from the board due to personal reasons whilst he had volunteered to serve for a year only. Ratnayake was appointed as BOI Chairman in mid-December 2019. He had served as the Chairman and CEO…
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100)1 increased marginally to 4.1% in November 2020 from 4.0% in October 2020. This was driven by monthly increase of prices of items in both Food and Non-food categories. Meanwhile, Food inflation (Y-o-Y) increased marginally to 10.3% in November…
The Central Bank of Sri Lanka yesterday( 30) announced that it had withdrawn the appointment granted to NatWealth Securities (NWSL) to function as a Primary Dealer with effect from November 30 2020, on the company’s request. “Having considered a request made by NatWealth Securities Limited (NWSL), the Monetary Board of Central Bank of Sri Lanka had decided to withdraw…
The much awaited, Sri Lanka Economic Summit will be inaugurated today (01) with the patronage of Chief Guest H.E Gotabaya Rajapaksa, President of the Democratic Socialist Republic of Sri Lanka. The Summit is themed “Roadmap for Take-off: Driving a People Centric Economic Revival”. Honourable Mahinda Rajapaksa, Prime Minister of the Democratic Socialist Republic of Sri…
The second report of the Committee on Public Finance (COPF) on the Budget Proposal is scheduled to be presented in Parliament tomorrow (02). This report by the Committee on Public Finance will clarify whether this year’s budget is in line with government policy. The Public Finance Committee met in Parliament yesterday (30) under the chairmanship…
Amidst unprecedented disruption brought by the COVID-19 impact, Vallibel Finance has been able to record steady performance weathering many challenges. Vallibel Finance continued to set the bar soaring with profits before tax (PBT) reaching a high of Rs. 890 Million for the first six months ending September 2020. Total assets crossed Rs. 52 billion growing…
COVID-19 has disrupted the expectation for global and local growth and development. As economies adapt to the pandemic, there is a high degree of uncertainty about the future trajectory of global growth, trade and investment. The first session of the summit on Pos- COVID-19 Economic Recovery, will aim to answer some of the burning questions…
The Central Bank of Sri Lanka ( CBSL) issued amendments to the circular No.11 of 2020 on debt moratorium for COVID- 19 effected businesses and individuals. Accordingly, the CBSL announced that the deadline for the submission of request by eligible borrower to avail the concession has been extended until 10 December 2020. The Central Bank said, Non-Bank Financial Institutions ( NBFIs) are required to finalise…
Two vessels owned by global French transportation and shipping group CMA CGM made their maiden call at HIP last week. The vessels which were scheduled to call at the Colombo port, diverted to HIP for the transshipment of 450 units, and 722 TEUs. The Singaporean flag bearing MV ‘Glacier Bay’ carrying containerised cargo from the Jebel…
Sri Lanka’s Ambassador to Indonesia and ASEAN, Yasoja Gunasekera met with the Indonesian Deputy Minister for Production and Marketing Victoria Simanungkalit at the Sri Lanka Embassy in Jakarta on 12 November 2020. The meeting hailed the cordial bilateral relations that exist between the two countries and underscored the importance of cooperation in the small and…
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