The Central Bank of Sri Lanka requested licensed banks and Non-Bank Financial Institutions (NBFIs) to reduce interest rates on deposits with effect from 29 April 2019. This measure was taken to accelerate monetary policy transmission through the financial sector, enabling licensed banks to reduce their interest rates on lending products in general, and to SMEs…
The Board of Investment (BOI) of Sri Lanka and edotco Sri Lanka, an integrated telecommunications infrastructure services company today entered into an agreement to invest in the latest Smart City solutions and energy efficient systems towards further developing the country’s connectivity landscape. Under this agreement, the BOI grants edotco Sri Lanka the approval to deploy…
~ Emphasis made on Labour Migration as one of the key issues that needs further research and review The Community Development Services (CDS) together with Helvetas Swiss Intercooperation in Sri Lanka and OMG Public Relations of the Omnicom Media Group Sri Lanka and supported by the Embassy of Switzerland in Sri Lanka, conducted a sensitization…
Softlogic Holdings PLC is looking forward to expand its corporate interests beyond Sri Lankan shores and are likely to commence operations of their successful sectors in Asian and African markets. “Our vision has expanded beyond our shores and we are likely to commence operations of our successful Sectors in Asian and African markets to replicate…
The Sri Lankan rupee appreciated by 4.1% against the US dollar during the year up to 17 July 2019, latest External Sector Performance report of the Central Bank of Sri Lanka outlines. Reflecting cross-currency movements, the rupee also appreciated against other major currencies except for the Canadian dollar during this period. According to Central Bank…
Earnings from tourism recorded a decline in May 2019 in comparison to the corresponding period of 2018 owing to the drop in the number of tourist arrivals during the month, latest External Sector Performance report of the Central Bank of Sri Lanka outlines. Tourist arrivals in May 2019 was 37,802, registering a year-on-year decline of…
(CNN) — It’s no secret that the British are very serious about their tea. Now a London hotel has taken this dedication to new heights by offering what’s been dubbed the UK’s most expensive cuppa. The Rubens at The Palace is now serving a rare tea blend for £500 ($620) per pot, which works out to around $200…
The Central bank of Sri Lanka yesterday revealed that country’s trade deficit had narrowed significantly in May 2019 in comparison to the corresponding month of the previous year due to the combined effect of an increase in exports and a reduction in imports. The deficit in the trade account narrowed to US dollars 823 million…
The Japanese Grant Aid for Human Resources Development Scholarship (JDS) Programme was introduced in Sri Lanka in 2010 by the Government of Japan in order to provide opportunities to the executive level public sector officials to undergo Master Degree Programmes in prominent universities in Japan. Accordingly, the First Framework (2010-2013) and the Second Framework…
Reuters – Sri Lankan shares rose for the sixth straight session on Wednesday to hit a more than three-month closing high, as diversified and banking stocks gained, while the rupee ended steady. ** The benchmark stock index gained 1.04% to 5,645.65, its highest close since April 4. Markets were closed on Tuesday for a holiday….
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