COLOMBO (Reuters) – Sri Lanka’s central bank is expected to leave its key interest rates unchanged on Friday, a Reuters poll showed, but a surprise rate cut is not ruled out due to sluggish economic growth ahead of a presidential election later this year. Ten out of 12 economists surveyed expected the Central Bank of…
(Reuters) – The Sri Lankan rupee closed weaker on Wednesday for the third day running as foreign outflows from government securities weighed on the currency, in line with the trend in other emerging markets. Local shares fell. ** The rupee ended 0.4% weaker at 178.75/179.00 per dollar, compared with Tuesday’s close of 178.00/00, extending the…
Backed by the global industrial giant South Korea, Sri Lanka launched its most modern national hi-tech training facility to-date on 21 August. As it unveiled its up-to-date TVET (Technical and Vocational Education and Training) facility in a Colombo suburb, Sri Lanka also said that its skills development work has shown results so much so the country retained…
The Board of Investment of Sri Lanka recently held a Business and Investment Forum at the Gujarat Chamber of Commerce & Industry (GCCI) in Ahmedabad, targeting the Chamber’s membership . This Forum was supported by the Sri Lankan High Commission in New Delhi and the Sri Lanka Consulate General in Mumbai. Hon. Malik Samarawickrama Minister…
Workers’ remittances grew by 2.5%, year-on-year, to US dollars 537 million in June 2019, latest External Sector Performance report of the Central Bank of Sri Lanka outlines. On a cumulative basis, however, workers’ remittances recorded a decline of 9.8% reaching US dollars 3,270 million during the first half of 2019 in comparison to the corresponding…
Ceylinco Life has reported net income of Rs 14.7 billion for the first half of 2019, an increase of 10.55 per cent over the corresponding period of last year as a result of investments yielding noteworthy returns and premium income recording equitable growth. In its 16th consecutive year of market leadership, the Company’s premium…
The Sri Lankan rupee appreciated by 3.0% against the US dollar during the year up to 20 August 2019, latest External Sector Performance report of the Central Bank of Sri Lanka outlines. Reflecting the cross-currency movements, the rupee also appreciated against other major currencies except for the Japanese yen during this period. According to Central…
On 19th August 2019, President Maithripala Sirisena conferred “National Honours” on distinguished personalities for the outstanding and invaluable service rendered by them to the Motherland. Dr. Indrajit Coomaraswamy, Governor of the Central Bank of Sri Lanka along with five other distinguished personalities were conferred the title of “Deshamanya” by the President. “Deshamanya” is the second-highest…
According to the latest external trade data released by the Central Bank, country’s trade deficit had narrowed significantly in June 2019 in comparison to the corresponding month of 2018 mainly due to the reduction in imports of motor vehicles and fuel. The trade deficit narrowed to US $316 million in June from US $795 million…
With manufacturing and credit signaling signs of recovery in economy and vulnerabilities affecting the external outlook, Sri Lanka’s First Capital Research believes that the Central Bank may delay the monetary easing while allowing the impact of the previous rate cut to materialise. Accordingly First Capital Research assigned a higher probability of 70% for a neutral…
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