The State banking system and their affiliated bodies have to operate formally and effectively to overcome the challenges encountered by the Sri Lankan economy amidst COVID-19 pandemic. However, it is apparent that the State banks have operated away from the fundamental objectives formulated at the initiation of those State banks and have operated violating provisions…
On 22nd July 2020, Colombo Dockyard PLC (CDPLC) auspiciously launched it’s Yard Number NC 0244, a 60 m Buoy Tender Vessel being built for General Company for Ports of Iraq (GCPI) as per an Agreement signed with Toyota Tsusho Corporation (TTC) of Japan funded under Japanese ODA Loans by Japan International Cooperation Agency (JICA). The ceremonial…
Foreign Secretary Ravinatha Aryasinha said that the investment environment in Sri Lanka for Indian investors is conducive not only because of its stable leadership but also due to the strong bilateral relationship between Sri Lanka and India. This was consolidated on following the early visits of the President, Prime Minister and the Foreign Minister to…
On five occasions, since 2015, the directors of the Hewagama Korale East Multipurpose Co-operative Society Ltd had invested Rs.507.59 million in Treasury Bills through a certain institution, which had been introduced as a primary dealer company registered with the Central Bank of Sri Lanka (CBSL). However, it has been revealed that this company is not a…
An economic stimulus package is an attempt by the government to boost economic growth and lead the economy out of a recession or economic slowdown. The two main ways for stimulating the economy are expansionary monetary policy and expansionary fiscal policy. However, at this critical juncture, mere responses from monetary policy tools alone may not…
The discussion will place special attention on the economic recovery of small & medium level hospitals. The Association of Private Hospitals and Nursing Homes (APHNH), the Charted Institute of Management Accountants (CIMA) and the Ceylon Chamber of Commerce (CCC) will be hosting a seminar on ‘Post-COVID Economic Recovery of the Private Health Sector’, this Saturday…
The Tile & Sanitaryware Importers Association (TSIA), Sri Lanka’s main body established to address the grievances of tile and sanitaryware importers, has raised serious concerns about the Government’s import ban on their products and clarified how such a move is detrimental to the Government’s efforts to reduce foreign exchange outflow. The TSIA consists of over…
Sri Lanka’s listed largest public-quoted mini hydropower company, Vallibel Power Erathna PLC, announced yesterday (22) that it has entered into a Power Purchase Agreement with the Ceylon Electricity Board (CEB) on 07 July 2020, for the sale of electricity from their 9.9MW Erathna Hydropower plant. The signed Agreement is valid till 20 July 2024 and…
The 19th SLIM Brand Excellence Awards, the only awards ceremony that recognizes brands for their performance, will be held in November this year, under the theme ‘Survive the Odds’. This year’s awards are a clarion call for brands and brand custodians to come forward and present their stories of progress and resilience in times of…
Sri Lanka Treasury Bill yields fell to a record low at Wednesday’s (22) auction. Accordingly, the three-month yield was down to 4.60% from 4.65%, the six-month yield was down to 4.69% from 4.75% and the 12-month yield was down to 4.86% from 4.91%. The debt office of the Central bank decided to accept Rs. 6,401…
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