The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 30 May 2019, decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 50 basis points to 7.50 per cent and 8.50 per cent, respectively. The Board arrived at…
Reuters – Sri Lankan shares rose for the third straight session on Thursday on hope of a rate cut by the central bank later this week, while the rupee closed weaker on mild importer dollar demand, market sources said. ** The central bank is widely expected to cut its key interest rates at a meeting…
In a press release, Sri Lanka Tourism Development Authority stated that due to the severe hit on Tourism Industry following Easter Sunday Attacks, they have decided to remove the minimum room rate (MRR) imposed on Colombo City Hotels effective immediately. Furthermore, it stated that it’s better for the market forces to decide the room rates…
AIA Insurance Lanka today announced the appointment of Nikhil Advani as its new Chief Executive Officer. The appointment will be effective 01 July 2019 subject to approval of the Insurance Regulatory Commission of Sri Lanka. The outgoing CEO, Pankaj Banerjee will relocate to Hong Kong to take up a position in AIA Group as Chief…
SriLankan Catering Ltd. has recorded a steady financial performance for the financial year ended 31st March 2019 with a 24% year-on-year growth in operating profits from Rs. 3.8 billion to Rs. 4.7 billion, according to its unaudited financial statement. SriLankan Catering is the fully owned subsidiary of SriLankan Airlines. Its operating profit ratio, which stood…
With the end of the 30-year civil war in 2009, Colombo 2 real estate value had tripled in a mere five [05] years. This trend of continued rapid ROI for Colombo 2 resulted in secondary sales per (existing) property exchanging hands x 3 (on average) by 2018 – this is due to the continued development…
Huawei Files motion for summary judgment in its court case to accelerate process to halt illegal action against the company Preventing American companies from doing business with Huawei, the US government will directly harm more than 1,200 US companies and will affect tens of thousands of American jobs, one of world’s leading ICT and Telecom…
Reuters – Sri Lankan shares rose on Wednesday while the rupee closed steady on hope of a rate cut by the central bank later this week, market sources said. ** The central bank is widely expected to cut its key interest rates at a meeting on Friday, a Reuters poll showed, to support the economy…
The Sri Lankan Rupee had appreciated by 3.8% against the US dollar (US $) during the year up to 28 May 2019, the latest External Sector data highlights. Reflecting the cross currency movements, the Sri Lankan Rupee had appreciated against all other major currencies, accordingly.
Along with the proceeds of the two International Sovereign Bonds (ISBs), as at end March 2019, gross official reserves of Sri Lanka were estimated at US $ 7.6 billion, equivalent to 4.3 months of imports, the latest external sector data outlines. Further the total foreign assets, which consist of gross official reserves and foreign…
Video Story
