The Cabinet has given its approval to pay a special allowance for Government Executive Officers. The decision was taken after considering a report submitted by the Special Salaries Commission to Review Public Sector Salaries. In line with these recommendations cabinet approval has been granted on the 10th September 2019 to pay 50% of the recommended…
The Cabinet of Ministers approved the proposal presented by Minister of Ports, Shipping and Southern Development to allocate Rs.300 million for the development of Gall Face Ground under the corporate social responsibility budget in proposed 2019/2021 budget and accomplish the development tasks within 18 months.
Central Bank of Sri Lanka has decided to withdraw the Monetary Law Act issued on 26 April 2019 on imposing maximum interest rates on Sri Lanka rupee deposits of licensed banks. Considering the high real interest rate on deposits and lending products prevailing in the economy and the need to strengthen and expedite monetary law…
Highlights lessons from Malaysian development experience relevant to current challenges in SL Calls for urgent recalibration of policy to support housing and property development industry Reiterates potential for focused property policies to enhance Sri Lanka’s regional economic status The future of Sri Lanka’s economic development could very likely hinge on how domestic policies towards real…
‘Sri Lanka 2030: A Developed Nation,’ a strategic plan for sustainable development of the Sri Lankan economy, written by business tycoon Dhammika Perera, Chairman of Vallibel One PLC, was launched on Tuesday (24) at the auditorium of Sri Lanka Institute of Tourism and Hotel Management. Perera, used a public sector forum titled “Changing Role of the…
One of world’s most dynamic SME and MSME collectives has come forward to support Sri Lankan MSMEs to fulfil its long cherished dream of going global. The offer, made to Lankan SMEs for the first time in its history, also includes free marketing and tech know-how assistance for Lankan SMEs. “Our Prime Minister HE Narendra…
Russian export to Sri Lanka increased by 24% in 2018 Trade tops US $ 400 million Sri Lanka – Russia Business Council (SLRBC) of The Ceylon Chamber of Commerce held its 16th Annual General Meeting recently at the Russian Cultural Center. H. E. Yuri Borisovich Materiy, the Ambassador of the Russian Federation in Sri Lanka,…
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…
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