The latest LMD-Nielsen Business Confidence index (BCI) poll state that the economy will improve in the next 12 months, where as in May only 6% of respondents were as optimistic. “Many of the economic problems witnessed are because local companies don’t produce enough and due to high taxes,” States a survey respondent. While another remarks,…
The Colombo Municipal Council is partnering with The Embassy of the Kingdom of the Netherlands in Sri Lanka to pilot Colombo’s first ever car-free day. ‘CarFreeCMB’ will take place on Sunday, 14 July from 6 am to 12 noon. Join in on foot, bicycle, skateboard – anything goes, as long as it’s not motored, say…
Global trade activities are projected to slowdown to 2.6% in 2019 from 4.1% recorded in 2018 due to the decline in industrial production, particularly in capital goods including electronic components and the overall slowdown in economic activities, a finance ministry report said. The tariff hike by the US and reactive actions taken by China and…
The Monetary Board of the Central Bank of Sri Lanka, acting in terms of the Regulations made under the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance, has decided to extend the suspension of Perpetual Treasuries Limited (PTL) from carrying on the business and activities of a Primary Dealer for a period…
Ranil Rajapakse, Senior Vice President and Chief Operating Officer at IFS R&D International was elected as the Chairman of the Sri Lanka Association of Software and Services Companies (SLASSCOM) on 28thJune at the Annual General Meeting held at the Galle Face Hotel, Colombo. Addressing the gathering, Ranil stated that having a strong country brand and…
Colombo’s newest international education college ‘UTS Insearch Sri Lanka’ was officially launched in Colombo yesterday (5) under the patronage of Prime Minister Ranil Wickremesinghe. Attending the launch event were: Australia’s High Commissioner to Sri Lanka, His Excellency David Holly; Deputy Vice-Chancellor and Vice-President (International) for the University of Technology Sydney (UTS), Iain Watt; Managing…
The tourism arrivals in June has almost doubled to 63,072 from 37,802 in May, though 57% lower compared to the previous year, and year to date performance remains negative. According to the latest data released by the Sri Lanka tourism development authority arrivals in June was down by 57% from the corresponding month of last…
Atlas Axillia Co., a Sri Lankan owned and operated company and one of the most loved local brands, will commemorate its 60th anniversary with a number of initiatives focused on enriching the lives of children in the country, including the launch of a scholarship programme and a new range of innovative stationary products. Further, the…
(Reuters) – Sri Lankan shares ended firmer on Thursday, touching their highest intraday gain in more than eight months, a day after the government launched a $2.2 billion Japanese-funded project, boosting investor sentiment; while the rupee ended steady. ** The benchmark stock index jumped 1.8% to its highest percentage gain since Nov. 1, 2018. The…
The Cabinet this week gave approval for the Government to revise the Fiscal Management (Responsibility) Act No. 3 of 2003 to increase responsibility in not meeting deficit targets. The Government Fiscal activities of Sri Lanka are handled under a Fiscal Management Responsibility Framework introduced by the Fiscal Management (Responsibility) Act, No.3 of 2003 enacted for…
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