Sri Lanka will set up a new state enterprise to manage the commercial activities of the lotus tower build for the telecom regulator. The cabinet has approved a proposal presented by Minister of Finance to empower the general treasury to establish a government owned company to administrate the commercializing activities which are to be commenced…
(Reuters) – Sri Lanka’s rupee fell to its lowest close in more than seven months on Wednesday, due to continued foreign fund outflows from government securities after a surprise rate cut last month. ** Foreign investors sold net 12.3 billion rupees worth of government securities in the week ended Aug. 28, the second-worst weekly outflow…
Respected corporate and telco veteran, Dr. Hans Wijayasuriya will be delivering the keynote address at the 165th AGM of the Planters’ Association of Ceylon which is set to take place on the 20th of September 2019 at the Kings Court of the Cinnamon Lakeside, Colombo at 7pm. Serving as the Chairperson of the Ceylon Chamber…
Sri Lanka’s Treasury Bill yields showed a upward trend at the weekly primary auction today with the one year yield increasing by eleven basis points to 8.33%. The average weighted yield at the last auction was 8.22%. The auction was oversubscribed with bids amounting to Rs. 32,108 million being received. The Central Bank of Sri Lanka…
The apparel industry, which is Sri Lanka’s primary export earner, is set to gain impetus from the US market, due to the ongoing trade war happening between the two economic giants. “For the moment trade war has actually created some opportunities. Our apparel exporters have picked up some orders from the US and we have…
Disrupt Asia 2019, organized by the ICT Agency of Sri Lanka since 2016 and hailed as Sri Lanka’s premier Startup Conference and Innovation Festival returns once again as an unrivalled platform for start-ups to exhibit their innovations on a global scale. This year’s theme ‘Augmented Living’ focuses on amplifying the successes of innovation and technology…
Research Intelligence Unit (RIU) – Variety of taxes are applicable at each step of the way in the value chain of the condominium market from inputs to the final product. Construction material is one of the heavily taxed commodities in the market today. Some examples are steel bars and rods (taxed at 89.66%), ceramic tiles…
In terms of the provisions of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), the Financial Intelligence Unit (FIU) of Sri Lanka entered into Memoranda of Understanding (MOUs) with Condominium Management Authority (CMA) and National Gem and Jewellery Authority (NGJA) on 28 August 2019 at the Central Bank of Sri Lanka with the…
According to the latest monthly LMD-Nielsen Business Confidence index (BCI) survey, almost one in four business people –that is twice as many as in July consulted by Nielsen, for LMD’s publisher Media Services, anticipates that the economy will improve over the next 12 months. Meanwhile 28% of respondents expect economic to stay the same. “We…
(Reuters) – Sri Lanka’s rupee closed weaker on Tuesday, hovering near a seven-month closing low hit last week, as continued foreign fund outflows from government securities after a surprise rate cut last month weighed on the currency. ** Foreign investors sold net 12.3 billion rupees worth of government securities in the week ended Aug. 28,…
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