We welcome the authorities’ commitment to fiscal discipline and institutional reforms to anchor debt sustainability, while providing space to support the ongoing recovery and social goals. The new Central Bank Act will be a landmark reform in the roadmap towards flexible inflation targeting, strengthening the Central Bank of Sri Lanka’s mandate, governance, accountability, and transparency,…
Over the past eleven months, the Central Bank of Sri Lanka has taken a number of monetary and regulatory policy measures to induce a reduction in market lending rates. These measures include the reduction of the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 100 basis…
World famous CNN correspondent Richard Quest instructed Sri Lanka not to waste a crisis. With regard to the Easter Sunday tragedy Quest’s message was, “Never waste a crisis,” which is a modified version of the famous saying ‘Never waste a good crisis’ from former UK Prime Minister Sir Winston Churchill. Quest made this remark while…
Cargills Bank Ltd. announced the appointment of Mr. Ranjit Page as the Chairman of the Bank with effect from 19thSeptember 2019. Mr. Louis Page, the founder Chairman of the Bank, retires on reaching 70 years of age in line with CBSL regulations. The incoming Chairman, Mr. Ranjit Page played a pivotal role in the Cargills,…
SriLankan Engineering, the aircraft Maintenance-Repair-Organisation (MRO) of SriLankan Airlines, welcomed a new airline customer – Air Seychelles – for which it carried out an ‘A-check’ on an Airbus A320 aircraft in its specialized A320/A321 hangar at the National Carrier’s main hub at Bandaranaike International Airport. SriLankan Engineering has positioned itself as an emerging MRO in…
John Keells Holdings PLC Chairman Krishan Balendra is confident that Sri Lanka will meet a target to host a total of 5 million foreign tourists by 2025. Speaking during the panel discussion, at the Cinnamon Future of Tourism Summit 2019 in Colombo yesterday (23) Balendra noted that Sri Lanka had managed to recover from the…
The Government has decided to declare a grace period for the motor vehicles imported during the period of January 2015 to November 2017 and pending the Customs clearance at the Hambantota Port subject to fulfilling following criteria. Said motor vehicles imported by an importer / individual based on the Letter(s) of Credit established on his…
Eighteen months to the formation of HIPG, the public private partnership between CMPort and the Sri Lanka Ports Authority (SLPA), to manage the Hambantota International Port (HIP), the company has made phenomenal progress. They have successfully turned it around, bringing the port into the limelight and strategically positioning it within the international ports & shipping…
Cinnamon Hotels & Resorts host the highly anticipated third edition of the Future of Tourism Summit (FOT 2019) on Monday (23),at the Cinnamon Grand Colombo under the patronage of Prime Minister Ranil Wickremesinghe. The lime light of the event was the conversation between famed CNN international correspondent Richard Quest and Prime Minister Ranil Wickremesinghe. At the…
Headline inflation as measured by the year-on-year change in the National Consumer Price Index (NCPI, 2013=100) increased to 3.4 per cent in August 2019 from 2.2 per cent in July 2019. The low base that prevailed in the corresponding month of the previous year and the monthly increases of prices of items in both Food…
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