Recent Cabinet decisions outlined that it has been planned to implement a project to improve the passenger terminal capacity of the Bandaranaike International Airport, enabling to provide facilities for 15 million passengers per annum. Accordingly a proposal has been made to construct an interim terminal building for providing facilities to the passengers, until the completion…
Despite playing a huge role in the country’s economy, Sri Lankan entrepreneurs and SMEs are struggling to advance their business capacities due to lack of skills and relevant business education. An international, multi-stakeholder meeting on entrepreneur education to be held next week in Sri Lanka is expected to address this core challenge. “Only 16% of…
Finance minister urges all states to match cuts by central government NEW DELHI — India cut the retail prices of petrol and diesel by 2.50 rupees per liter ($0.03) on Thursday, to partly offset rising global crude prices and a weakening currency. The price reduction was implemented with immediate effect. The government would absorb the…
Reuters – The Sri Lankan rupee fell to an all-time low of 170.00 per dollar on Thursday, weighed down by greenback demand from importers and foreign banks to pay out investors selling government securities, market sources said. The currency hit a record low for a second straight session on Thursday, dipping below the previous low…
(Bloomberg) — Standard Chartered Plc. is predicting more pain for the Sri Lankan rupee, which has been setting a string of record lows amid surging oil prices and a rout in emerging-market assets. The island nation’s rupee has dropped more than 10 percent against the dollar this year, approaching the record-breaking declines suffered by neighbor…
The Ceylon Motor Traders Association (CMTA), established in 1920 is one of the most senior automotive trade associations in the region, and represents the worlds’ leading automotive manufacturers, through their local agents, in Sri Lanka. The association acknowledges the Governments’ concern in response to the sudden depreciation of the Sri Lankan rupee. Whilst understanding that…
Negative global reports fuel discontent among members of the business community There’s hardly a shortage of bad news when it comes to Sri Lanka these days with the most recent bombshell coming from certain global economic entities, which have pointed to vulnerabilities in the country’s external debt servicing outlook and exchange rate volatility. Responding to…
Sri Lanka’s financial market regulator Central Bank (CBSL) plans to raise over US $ 2.5 billion through at least 1 billion in a U.S. Dollar International Sovereign Bond (ISB) issue, another US $ 250 million each from Panda (Yuan) Bonds and Samurai (Yen) Bonds with another over US $ 1 billion loan from China Development…
Incorporated in 2014, M Power Capital Limited (MPC) initially focussed on mergers and acquisitions, other corporate finance advisory mandates and middle market related private equity transactions. With the addition of a specialist debt team in 2018, MPC has now mobilised over LKR 1.5 Billion for issuers of debt securities, other corporate debt instruments as well…
Sri Lanka’s one of the leading financial sector giants that diversified into conglomeration in a faster pace during last decade – Lanka Orix Leasing Company PLC in a filing to Colombo Stock Exchange (CSE) said that the company had been officially retiled as LOLC Holdings PLC. Accordingly the filling said that having obtained approval from…
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