Reuters – The Sri Lankan rupee ended weaker on Wednesday as banks and importers bought the U.S. dollar while stocks edged lower to end near a five-year closing low. The Central Bank on Wednesday said it has secured a 1 billion dollar eight-years loan from China Development Bank. The rupee ended at 171.00/15 per dollar,…
The Government of Sri Lanka invited to submit proposals from international and domestic banks and investment houses for a Foreign Currency Term Financing Facility (FCTFF) denominated in United State Dollar (USD) or Japanese Yen (JPY) or Euro or of their combination up to a limit of USD 1,000 million in March 2018. Accordingly, four proposals…
Western Union, a leader in cross-border, cross-currency money movement and Sampath Bank, one of Sri Lanka’s leading private commercial banks, have joined forces to provide customers, nation-wide access to international money transfers in minutes[1] from more than 200 countries and territories. Sampath Bank’s 229 branches across the island now offer Western Union® Money Transfer, providing…
A pioneering Entrepreneurship Education (EE) series by UNESCO that successfully concluded in Colombo on 12 October has elevated Sri Lanka as the new Chair of prestigious UNESCO-APEID EE series, making it the first South Asian country to clinch this Chair. More importantly, a landmark international declaration –seen also as a historic first for Sri Lanka’s…
Australia’s skilled migration program is designed to fill the skill gaps to meet the country’s economic needs. However,shortages in some skills continue to persist. SBS – Australia has one of the biggest immigration programs in the world with 190,000 places kept every year for permanent migrants. A large part of the program- nearly 70…
Reuters – The Sri Lankan rupee ended 0.2 percent weaker on Tuesday as banks and importers bought the dollar while stocks ended a five-session losing streak, pulling away from previous session’s near five-year closing low. The rupee ended at 170.90/171.10 per dollar, compared with its previous close of 170.60/75. The rupee had fallen to an…
Considering the challenges that Sri Lanka is currently faced with due to global uncertainty, the President instructs the Ministry of Finance to study the current imports and submit a report on goods of which the imports can be temporarily restricted. President made these remarks at the 20th session of the National Economic Council, which was…
Importing them has become commercially unviable Notes with concern that biggest setback is for patients The Sri Lanka Chamber of Pharmaceutical Industry (SLCPI) in a statement to media said that despite persistent appeals, the Government has failed to address the issue of a fair and proper pricing mechanism for pharmaceutical products in light of the…
A private sector think-tank says that only 8% of the government’s budget promises are progressing in line with their targets and that the pace of progress is slow, at the end of the first six months of 2018. “Further, progress on 33% of proposals are categorised as either broken, neglected or undisclosed.” “This means that…
Whilst Sri Lankan Billionaire Dhammika Perera controlled Hayleys PLC bought the remaining stake of Singer Sri Lanka taking full control of the local Singer franchise, perhaps for the first time ever in Singer’s history that local company bought the company’s global brand, block trade in Singer Sri Lanka amounting to 35,562,883 shares traded at Rs….
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