After months of preparation, The Mall at Colombo City Centre opens to the public today amidst an ambience of colourful celebrations. Conveniently situated by the historic Beira Lake at the heart of the city, the ultramodern lifestyle destination is billed as Sri Lanka’s first international mall, and is set to transform not only the lifestyles…
Rising temperatures and changing rainfall patterns pose a threat to Sri Lanka and could reduce GDP and living standards, a new World Bank report says. The report South Asia’s Hotspots: The Impact of Temperature and Precipitation Changes on Living Standards flags that almost half of South Asia’s population now lives in vulnerable areas called hotspots that could…
Sri Lanka’s Rupee has fallen by over 2201% against US Dollar in a 41 year history since the economy was opened to the globe in 1977, the analysts notes. Accordingly as at January 1st 1977 US Dollar exchange rate in terms of Sri Lankan Rupees stood at Rs. 7.27 levels whilst as at 19th September 2018 nearly…
The Monetary Board of the Central Bank of Sri Lanka imposed a 100 per cent margin deposit requirement against Letters of Credit opened with the commercial banks for the import of motor vehicles,which are generally used for non-commercial purposes,with immediate effect. Accordingly, Letters of Credit for the importation of these vehicle categories could be done…
Reuters – Sri Lankan shares ended marginally higher on Wednesday, edging up from their 30-month closing low hit in the previous session, as investors picked up battered shares, while sentiment was weighed down by weak rupee and continued foreign selling. The Colombo stock index ended 0.06 percent firmer at 5,974.75, edging up from its lowest…
Reuters – The Sri Lankan rupee fell 0.6 percent on Wednesday to hit an all-time low of 166.95 against the dollar, weighed down by importer demand for scarce U.S. currency, market sources said. The rupee, which has weakened more than 2.8 percent this month, and given up 8.3 percent this year, hit a fresh low…
An Open Day programme aimed at providing easy access to Central Bank services for school children and people of the Rajarata and Wayamba regions, and creating awareness about Central Bank activities is to be held on 21st and 22nd September 2018 at the Central Bank of Sri Lanka Anuradhapura Regional Office premises and the Public Grounds (Salgado) Anuradhapura….
The Department of Census and Statistics (DCS) Sri Lanka, has released the estimated Gross Domestic Product (GDP) at current prices and at constant (2010) prices in Production approach and other macroeconomic indicators for the second quarter of 2018 (April, May, June). Issuing a communique, on releasing National Accounts estimates for the second quarter of 2018, DCS states that…
The Enterprise Sri Lanka projects which was launched by the Ministry of Finance and Mass media to inspire, assist and create a minimum of 100,000 new entrepreneurs has received Rs 8 billion ( USD 50 Million) from the Asian Development Bank for the rooftop solar power generation project The loan agreement in this regard was…
Commercial Bank of Ceylon has entered into a collaborative alliance with Asia Securities Holdings (Private) Limited, to provide investment banking services to customers of both companies. A Memorandum of Understanding (MOU) between the two institutions paves the way for a wide range of investment banking services to be provided to corporate customers.These include equity and…
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