The Monetary Board, with the concurrence of the Minister of Finance, has promoted Assistant Governor C.J.P. Siriwardana to the post of Deputy Governor of the Central Bank of Sri Lanka (CBSL) with effect from 19th August 2017. Mr. Siriwardana has over 31 years of experience in the Central Bank especially in the areas of Economic…
Inflation, as measured by the change in the National Consumer Price Index (NCPI) (2013=100), which is compiled by the Department of Census and Statistics (DCS), remained unchanged from the previous month at 6.3 per cent in July 2017, on year-on-year basis. Both Food and Non-food categories contributed towards the year-on-year inflation in July 2017. The…
A joint letter of intent was signed between the Board of Investment of Sri Lanka and Rojana Industrial park Public Company Limited from Thailand, at the auditorium of the BOI today (21). The Joint Letter of Intent was signed on behalf of the BOI by Mr. Dumindra ratnayaka, Chairman and Mr. Direk Vinichbutr, President on…
The set of proposals to increase taxes on soft drinks prepared by WHO was handed over to Health Minister Rajitha Senaratna by WHO resident Representative Dr. Razia Pendse recently. The proposal was prepared by WHO on a special request made by Minister Senaratna. Diabetes is spreading among adults and children and 10percent of the population…
Takes over the reins as new president of the Sri Lanka Chamber of Pharmaceutical Industry (SLCPI) for 2017/18 at SLCPI’s 56th Annual General Meeting Newly-elected President of the Sri Lanka Chamber of Pharmaceutical Industry (SLCPI) Shyam Sathasivam, Managing Director of Sunshine Healthcare Lanka (Pvt) Ltd, urged the Government to consult and collaborate with all key…
Fitch Ratings Lanka has affirmed Bimputh Finance PLC’s National Long-Term Rating at ‘BB(lka)’. The Outlook is Stable. KEY RATING DRIVERS Bimputh’s rating reflects its small franchise compared with higher-rated peers and high-risk appetite stemming from its microfinance-dominated loan portfolio, which Fitch sees as risky due to the segment’s greater susceptibility to economic cycles. Fitch’s assessment…
Reuters – Sri Lankan shares rose on Friday on bargain-hunting following five consecutive sessions of falls and after a top official said the government would address concerns about a possible tax on trading stocks. The Colombo stock index rose 0.44 percent, or 28.16 points, to 6,436.28, but shed 0.8 percent for the week. On Thursday,…
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) recently renewed its Memorandum of Understanding with ISACA Sri Lanka Chapter in an effort to enhance ICT skills among Chartered Accountants. The agreement paves way for both CA Sri Lanka and ICT to jointly organise seminars, workshops as well as evening presentations to…
Panasian Power, announced the successful acquisition of Lower Kotmale Oya Power Two (Pvt) Ltd. With this acquisition Panasian will commence construction on two mini hydropower plants (MHP) in the Nuwara Eliya district in early 2018 with an estimated investment of Rs 400 million. Upon completion these MHPs are expected to yield a combined output of…
Reuters – Sri Lanka’s junior finance minister said on Thursday concerns about a possible tax on share trading will be addressed before a proposed revenue bill is passed in the parliament. The island nation’s main share index has shed 3.9 percent since July 27 and declined in 14 out of the past 15 sessions due…
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