Sri Lanka money lending and the micro finance businesses will be coming under strict regulatory control to protect customers and victims affected by unauthorized practices. Credit Regulatory Authority Act will be enacted in parliament to provide for the regulation of the moneylending business and the microfinance business and to provide for matters connected therewith or…
FRANKFURT/SYDNEY/HONG KONG/NEW YORK (Reuters) – Deutsche Bank laid off staff from Sydney to New York on Monday as it began to slash 18,000 jobs in a 7.4 billion euro ($8.3 billion) “reinvention” that will lead to yet another annual loss, a plan that knocked its already battered shares. Germany’s largest lender said on Sunday it…
The revenue generated from Nation Building Tax (NBT) has significantly increased by 2.9% to Rs. 25.4 billion in the first four months of 2019, compared to Rs. 24.7 billion in the same period of 2018, a finance ministry report said. The revenue collected from NBT on domestic activities increased by 2.5% to Rs. 19 billion…
According to the latest LMD-Nielsen Business Confidence index (BCI) survey, 58% of respondents state that inflation is the number one corporate concern in this country. Inflation nudged up to 5% in May from 4.5% in the prior month with the Department of Census and Statistics attributing this to a 1.2% and 0.4% increase in the…
(Reuters) – Sri Lankan shares inched lower on Monday, retreating after six straight sessions of gains to a near 11-week closing high, as investors sold diversified stocks such as John Keells Holdings Plc. ** The bourse hit its highest close since April 18 on Friday, buoyed by the government’s decision to launch a $2.2 billion…
The P 625 vessel taken over from the People’s Republic of China on 05th June 2019, to increase the operational capabilities of the Sri Lanka Navy, arrived at the port of Colombo this morning (08th July 2019). The ship arrived at the Colombo harbour was warmly welcomed in compliance with time-honoured naval traditions. Ambassador of the People’s…
The National Movement for Consumer Rights Protection (NMCRP) yesterday revealed that petrol 92 octane sold in the market is not up to standard. The Chairman of the National Movement for Consumer Rights Protection, Ranjith Vithanage stated that, following a complain received at the consumer affairs authority, a 92 octane sample was checked at the CPC…
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…
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