Sri Lanka will implement the free visa-on-arrival scheme for six months starting from today in order to boost tourism, which witnessed a slump following the Easter Sunday bombings. The launch of the initiative was announced by Tourism Minister John Amaratunga, at a forum held in Colombo yesterday (31) “The Government expects a substantial increase in…
Business Sentiment – Index Gains Prove Short-Lived The Central Bank of Sri Lanka (CBSL) recently announced that the country’s gross official reserves reached US$ 8.9 billion at the end of June. This followed the receipt of two billion dollars through the issuance of International Sovereign Bonds (ISBs), which provided import cover of a little over…
Electronic payment (e-payment) methods, such as real-time interbank fund transfers from customer current and savings accounts as well as card payment facilities, have provided a great convenience to customers. Sri Lanka’s payment systems and infrastructure meet international security standards to ensure the safety of customer funds. In order to continuously enjoy these facilities customers must…
(Reuters) – Sri Lankan shares fell for a second straight session on Wednesday, dragged down by banking and telecommunication shares, while the rupee ended weaker due to importer dollar demand. ** The country’s benchmark stock index closed 0.28% down at 5,935.34, but ended the month 10.5% higher. ** The index is down about 1.93% so…
While Sri Lanka suffered a setback in tourist arrivals after the Easter Sunday attacks tourist arrivals are seen picking up month-on-month. The numbers are reversing on a positive note with arrivals up by 80% in July from June, says Sri Lanka Tourism Promotion Bureau Chairman, Kishu Gomes. “In May our numbers went down to 37,000…
The President of the CFA Institute Paul Smith who is presently visiting Sri Lanka hope to promote fair and transparent capital market and investor protection. “We are in many ways a research driven organization. We believe passionately in our ability to influence and help develop the capital market where ever we happen to be in…
Teejay Lanka PLC has made a strong start to 2019-20, reporting excellent top and bottom line growth at Group and Company level through efficient capacity utilisation, an improved product mix and effective curbing of non-strategic costs. Sri Lanka’s only multinational textile manufacturer reported Group net profit of Rs 453.7 million and net profit of…
PickMe, Sri Lanka’s homegrown technology driven mobility solutions network, announced today (31) that it has acquired Yamu, the popular website/app for informative details on wining and dining among other things across Sri Lanka. The acquisition will enable YAMU to gain access to more data and work as a medium to connect diners with restaurants both virtually…
As a component of its Peace Building initiative, The Ceylon Chamber of Commerce has been engaged in carrying out several programmes to promote ethnic unity. Proceeding on the acceptance that Sri Lanka can progress only if it can overcome divisive attitudes, shed suspicions and cultivate respect for each other within its a diverse religious and…
The Ministry of Finance has received reports that several organized groups of fraudsters have exploited the letter head of the Ministry to send letters to loan applicants and institutions who have applied for loans under the Government’s Enterprise Sri Lanka saying that their loans have been approved. According to this scam, these organized fraudster groups…
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