Professional leaving Sri Lanka for foreign employment do not benefit the economy of the country, said Central bank Governor Dr. Indrajith Coomaraswamy during a media conference today (09 May). According to the categories leaving for foreign employment, migration of professionals has grown by 5.1 per cent, while those leaving for foreign employment under the categories…
Inquiries are continuing into the alleged Rs. 9.5 billion loss caused through investments by the Employees’ Provident Fund (EPF) in the government’s securities secondary bonds market, said Central Bank Governor Dr. Indrajit Coomaraswamy while responding to questions by reporters at a media conference at the Central Bank of Sri Lanka premises today (09 May). As…
Chief Information Officer of the world’s largest logistics specialist, DHL Supply Chain on Monday urged Sri Lankan corporates to increasingly invest on protecting systems, in the backdrop of growing cyber-attacks on organisations as more and more businesses become vulnerable to such attacks. Mr. Steve Walker, Chief Information Officer, Asia Pacific; Global Warehouse Management COE…
As expected, the Colombo Consumer Price Index (CCPI, 2013=100) based headline inflation, decelerated on a year-on-year basis to 6.9 per cent in April 2017 from 7.3 per cent in March 2017, and CCPI based core inflation also decelerated to 6.8 per cent in April 2017 from 7.3 per cent recorded in the previous month. It…
Reuters – Sri Lankan shares extended gains into a third session on Monday, posting their highest close in nearly one year, with blue chips leading the rise ahead of the central bank’s monetary policy rate announcement. Volume was moderate as many investors were on the sidelines ahead of holidays. The financial markets will be closed…
His Excellency the President Maithripala Sirisena ceremoniously inaugurated Tokyo Cement’s 2nd Biomass Power Plant in Trincomalee on the 5th of May, as part of a series of events held in commemoration of late Deshamanya A.Y.S. Gnanam, Founder Chairman of the company. The plant opening was among a series of events held in commemoration of the…
Sri Lanka’s total debt burden has increased by Rs. 186.6 billion due to the depreciation of the Sri Lankan Rupee as against the main foreign currencies, reveals a report by the Central bank of Sri Lanka. Meanwhile, the Government borrowings which stood at 77.6 per cent of the GNP by end 2015, has recorded a…
Sri Lanka’s foreign reserves stood at 5,045.52 million US dollars by 30 April 2017, reveals a latest report released by the Central Bank of Sri Lanka (CBSL). This is a slight drop when compared against the foreign reserves amounting to 5,117.26 million US dollars in hand by 31 March 2017. The main reason for this…
Foreign inflows originating from Australia have recorded a marked improvement during the month of April, recording a surge since the recently conducted Invest Sri Lanka Investor Forums in Australia. The daily average inflows originating from Australia since the forum has marked an improved to Rs. 23.22 Million, rising from an average of Rs. 0.87 Million…
Reuters – U.S. private equity firm TPG, one of three bidders short-listed to buy a 49 percent stake in state-owned SriLankan Airlines, has pulled out of talks about the potential acquisition, the chairman of the national carrier said. Sri Lanka has been looking to sell the minority stake in the airline along with management control,…
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