The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 22 August 2019, decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 50 basis points to 7.00 per cent and 8.00 per cent, respectively. The Board arrived at…
(Reuters) – The Sri Lankan rupee fell for the fourth straight session on Thursday, weighed down by foreign outflows from government securities and tracking other emerging currencies. Stocks closed steady. ** The rupee ended 0.36% weaker at 179.40/60 per dollar, compared with Wednesday’s close of 178.75/179.00, extending the loss in the last four sessions to…
Sri Lanka’s Public Private Partnership Agency is currently having discussions with china development bank to pay off two third of SriLankan airlines debt under a re–financing system and to take the burden off the national carrier. This was revealed by the PPP agency chairman Thilan Wijesinghe during the parliamentary committee on public enterprises which took place yesterday….
A delegation from the two day Colombo International Logistics Conference (CILC) held during the first week of August, visited the Hambantota International Port (HIP) recently. The high-ranking delegation representing several nationalities from across the globe, included Dr. Vincent Valentine, Transport Economist from UNCTAD UK, Dr. Andreia Theil, Head of Corporate Strategy, Port of Hamburg, Lutz…
Sri Lanka’s First Capital Research believes that the raising of US $500 million via Samurai bonds is likely to support to maintain reserves around the US $8 billion mark throughout the rest of 2019. As per Governor of CBSL, the government will soon issue Request for Proposals to raise US $500 million via Samurai bonds, which may boost reserves…
In a landmark initiative aimed at breaking gender barriers across boardrooms, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently launched the ‘Board Ready Female Members Directory’ which promotes more female representation across boards in corporate Sri Lanka. The directory which features a list of female Chartered Accountants who possess extensive experience…
It has been identified that the disincentives such as inconsistencies in the related policies, inadequacy of the required technology and the infrastructure facilities, the dearth of skilled human resources, excessive energy cost and environmental challenges associated with industries and the shortcomings existing in the legal system have adversely affected the development and the sustainability of…
Foreign investments in the government securities market recorded a net outflow of US $5 million in June 2019. On a cumulative basis, net outflows in the government securities market amounted to US $96 million during the first half of the year. Foreign investments in the CSE, including primary and secondary market transactions, recorded a net…
The proposal made by the Minister of Transport & Civil Aviation to call for bids from the suppliers who have the potential to supply explosive detection systems for supply, installation and commissioning of 09 explosive detection systems at the Katunayake Bandaranaike International Airport with an external funding, following procurement guidelines, was approved by the Cabinet.
Issuing National Consumer Price Index (NCPI), for the month of July 2019, Director General of Census and Statistics said that headline inflation as measured by the Year on Year change based on NCPI has been compiled as 2.2%. The headline inflation reported for the month of June 2019 was 2.1%. Contributions to the inflation in…
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