Trade Minister Bandula Gunawardena made his inaugural visit to the Sri Lanka Export Development Board (EDB) recently since assuming office and met the key officials of the institution. During his maiden discussion with the EDB’s top management, the Minister proposed the establishment of a coordination mechanism between the EDB and the new state ministries appointed…
Leading integrated global logistics solutions provider, Expolanka Freight (EFL) announced the successful completion of two shipments of general and perishable goods out of Mattala Rajapakse International Airport (MRIA) utilising converted incoming passenger repatriation flights last week. Given the company’s role as the first to move cargo out of MRIA in 2013 and first to start…
Going forward, the Central Bank of Sri Lanka (CBSL) will announce a housing credit program for low and middle-income groups, Central Bank Governor Prof. W. D. Lakshman stated. “While encouraging banks to mobilize deposits at reasonable interest rates to depositors the Central Bank would be looking at priority areas in the economy as indicated in the overall…
Pearl Energy (Pvt) Ltd., signed an agreement with the Board of Investment of Sri Lanka to launch ‘Hambantota LNG Hub’ – A floating storage LNG trading facility at the Port of Hambantota, bringing LNG to the doorstep of Sri Lanka, with a primary aim of trading LNG in the region utilizing the strategic location of…
Delivering the Policy Statement of the new government at the ceremonial sitting of the Parliament today (20), President Gotabaya Rajapaksa stated that Sri Lanka will halt the cultivation of oil palm in the country. “Currently, the income from tea, coconut and rubber industries is not at a satisfactory level. We will commence operations to develop…
With the appointment of the new cabinet of ministers bringing about, a re-start to Sri Lanka’s economic activities, the Colombo Stock Brokers Association (CSBA) extends its wholehearted congratulations and best wishes to the new government, Hon. Prime Minister Mahinda Rajapaksa, and newly-appointed State Minister Hon. Ajith Nivard Cabraal for Finance, Capital Markets, and State Enterprise…
Sri Lanka’s technological transformation is at the forefront of His Excellency President Gotabaya Rajapaksa’s vision for the country. To strengthen the execution of this digital roadmap, three strategic new appointments have been made to the board of the Information Communication Technology Agency of Sri Lanka (ICTA). The new appointments are leading Sri Lankan tech personalities…
Piramal Glass Ceylon PLC announced its results for the 1st Quarter of FY 2020-21 with Rs. 1,330 Million of revenue and a loss of Rs. 44 Million, as against the revenue of Rs 1,585 Million and profit of Rs. 21 Million during the similar period of the previous year. “We are facing the most unprecedented…
Sri Lanka is expecting a contraction of gross domestic product (GDP) in the second quarter of 2020 and a rebound in the fourth quarter of the year, Chandranath Amarasekara, Director of Economic Research at the Central Bank stated. “In the first quarter of the year, we didn’t expect a contraction at all. The economic activities…
The Central Bank of Sri Lanka (CBSL) has revised the regulated interest rates for Credit Cards, Pre-arranged Temporary Overdrafts, Pawning Facilities and Penal interest rate over the regular interest rate. Considering bank lending rates of certain financial products which continue to remain high, the Board decided to revise downward the caps on interest rates on…
Video Story
