Colombo’s first ever open street concept day saw residents reclaiming their streets from Green Path to Independence Avenue on foot, bicycle, skateboard and rollerblades. Jointly organized by Colombo Municipal Council (CMC) and The Embassy of the Kingdom of the Netherlands, CarFreeCMB was initiated to offer people a chance to experience everyday Colombo through a different…
China Petroleum and Chemical Corp, known as Sinopec Corp, said on Monday it has set up a fuel oil company in Sri Lanka as it looks to supply fuel to ships along a major maritime route, the Reuters news agency reported. The new unit, called Fuel Oil Sri Lanka Co Ltd, has been registered in…
Commercial banks increased the annualized interest rate on credit cards up to 32%. This subject was raised by Ada Derana during the monetary policy review press conference of CBSL which was held yesterday (11). Responding to the question, the Governor of the Central Bank Dr. Indrajit Coomaraswamy expressed the following; “You have to separate unsecured products like…
The Sri Lanka – Greater Mekong Business Council (SLGMBC) of the Ceylon Chamber of Commerce, organized a successful Business Promotion Mission to Myanmar, recently. The delegates met with the Ambassador of Sri Lanka in Myanmar and attended the Yangon Investment Forum organized by the Yangon Regional Government. The Council together with PricewaterhouseCoopers (PWC) Myanmar organized…
The Central Bank yesterday stated that Sri Lanka’s growth forecast for 2019 has been downgraded to 3% from 4% earlier in the year. “As you know, growth was projected to be 4% at the beginning of the year, and after the Easter bombings we have revised it down to about 3%. I’ve seen some projections…
Sri Lanka has been ranked as the ‘World’s Best Island ‘at the influential Travel + Leisure magazine’s World’s Best Awards scheme, determined according to a readers’ survey. The publication ranked destinations and companies spanning more than 90 categories, including everything from the best city in the world to best domestic airline to best regional resort…
The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 11 July 2019, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 7.50 per cent and 8.50 per cent, respectively. The Board arrived at this decision following…
(Reuters) – Sri Lankan shares rose for the third straight session on Thursday to a 12-week closing high, as investors bought diversified and telecom stocks ahead of a key policy rates announcement later in the day. ** Sri Lanka’s central bank is expected to leave its key interest rates unchanged on Thursday, a Reuters poll…
Chairman of Sri Lanka Tourism Promotion Bureau Kishu Gomes says that Sri Lanka is experiencing new record of tourist arrivals. “The average tourist arrival in May was 1200 but by June we managed to take the numbers up to 2200. If you look at the rate of recovery it is about 66% month on month…
The Ministry of Finance announced that fuel prices had been reduced with effect from midnight yesterday. Accordingly, the price of a litre of Petrol (Octane 92) has been reduced by Rs.2 and the revised price will be Rs.136.The price of a litre of Petrol (Octane 95) has been reduced by Rs.5 and will be sold…
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