Rupee down by over 16% against US Dollar from December 2014 Levels Central Bank of Sri Lanka (CBSL) had purchased over US $ 284 million on a net basis up to March 6, 2018, from the domestic foreign exchange market to control the rupee depreciation, amidst a 2% depreciation against the dollar during the year…
Despite Sri Lanka being positioned in a key Strategic Location in the Indian Ocean being a market that has wider access to over 4.5 billion people in Asia including China, India, Bangladesh, Indonesia, Pakistan, the largest multinational insurance firms view the country as a potential market for both general and life insurance, key analysts from…
SriLankan Airlines has achieved a record un-audited annual passenger revenue of Rs. 126.9 billion (US Dollars 830.7 million) for its just ended financial year of 2017/18 – the highest ever in the Company’s 38-year history. The revenue comes on the back of recent expansion of the airline to include services to several new destinations such…
Ambassador of Sri Lanka to Ethiopia and Permanent Representative to the African Union, Sumith Dassanayake recently met with Dr. (Ms.) Yumiko Yokozeki, Director of the United Nations Educational, Scientific and Cultural Organization (UNESCO) for Africa at the UNESCO office in Addis Ababa. The discussion centered on enhancing cultural and tourism cooperation between Sri Lanka and…
Speaking of the recent measures taken against money laundering and terrorism financing, the State Minister of Finance Eran Wickramaratne categorically denied the claims, that the government mulls amending companies act to send the details of persons having 25 % of the shares in Public Limited Companies to CID to inquire on money laundering acts. It…
China Communication Construction Company (CCCC) will invest $800 million to build an underground road network to Sri Lanka’s Port City, a $1.4 billion project built on reclaimed land, a government minister said. The plan, for which an agreement has already been signed, is expected to reduce traffic congestion on the existing route once the Port…
On April 11th 2018, the Central Bank of Sri Lanka (“CBSL”), on behalf of the Democratic Socialist Republic of Sri Lanka (“Sri Lanka”), marked its return to the US dollar bond markets with a successful issuance of new US dollars 1.25 billion 5-year and US dollars 1.25 billion 10-year Senior Unsecured Fixed Rate Notes (the “Notes”) with maturity…
Reuters – Sri Lankan shares on Thursday rose to a near four-week closing high led by financials amid lean trading ahead of the Sinhala-Tamil New Year this week, brokers said. Markets will be closed for a public holiday on Friday on account of the New Year. The Colombo stock index ended 0.51 percent higher at…
Sri Lanka Tourism Promotion Bureau has successfully concluded a two-day promotional mission to Saudi Arabia as part of its on-going efforts to develop new markets and increase the number of visitors and spend from the region to Sri Lanka. Headed by Anjantha Ratnayake, assistant director, Sri Lanka Tourism Promotion Bureau, a delegation of 20 partners…
The Cabinet has approved the proposal to instruct the Legal Draftsman to draft legislations for amendment of the Construction Industry Development Act No. 33 of 2014 “After the inquiries and a good debate made among all the respective parties, draft amendment bills have been prepared for the amendments of Construction Industry Development Act,” co-cabinet spokesman…
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