Reuters – Sri Lanka’s cabinet cleared a revised agreement for its Chinese-built southern port of Hambantota on Tuesday, the government said, after terms of the first pact sparked widespread public anger in the island nation. The port, close to the world’s busiest shipping lanes, has been mired in controversy ever since state-run China Merchants Port…
IFC, a member of the World Bank Group, is partnering with Sri Lanka’s Commercial Bank of Ceylon (CBC) to help the bank increase investments in local companies focusing on renewable energy and energy-efficiency projects. IFC will help Commercial Bank develop a green-finance business—an emerging field in which banks provide credit to support a broad…
President Maithripala Sirisena has decided to extend the term of the Presidential Commission of Inquiry to investigate and Inquire into the Issuance of Treasury Bonds. The President has further enlarged the time by three months to submit the report of the issuance of Treasury Bonds from July 27 to October 27, 2017. The relevant gazette…
The two-day Sri Lanka Economic Summit 2017 will be inaugurated this morning with the participation of Mr. Sanjeev Sanyal, The Principal Economic Adviser to the government of India, Dr. Indrajit Coomaraswamy, Governor of the Central Bank of Sri Lanka, Honorable Eran Wickramaratne, The State Minister of Finance, Dr. Harsha De Silva, Deputy Minister of Economic…
Reuters – Sri Lankan shares fell for the sixth straight session on Monday to post a near six-week closing low, but brokers said the slide is slowing down. The Colombo stock index fell just 0.08 percent to 6,664.12, but it marked the lowest close since June 13, and its ninth fall in 10 sessions. “The…
Today, the growth of Sri Lanka’s construction industry has become a hot topic. The housing construction sector in particular has seen rapid growth due to the rise in housing demand as well as government incentives for new housing projects. As office space continues to plummet, skyscrapers and high-rises have begun to mushroom. With the country…
The Central Bank of Sri Lanka (CBSL) wishes to inform the general public that a preliminary investigation was conducted by CBSL and as per the information available at present, it appears that this incident had occurred inadvertently relating to certain banking information of 4,630 customers. It is also observed that this incident is attributable to internal lapses in managing…
Minister of Ports and Shipping Mahinda Samrasinghe who visited the Trincomalee harbor recently said that it has been planned to implement a three-year development plan for the development of the Trincomalee harbor. He added that this plan aims to identify land of about 10, 000 hectares belonging to the harbor and to gazette them, utilize…
Reuters – The Sri Lankan rupee traded slightly firmer on Monday as dollar sales by exporters and banks outpaced demand for the greenback from importers, dealers said. The spot rupee was trading at 153.50/55 per dollar, as of 0611, from Friday’s close of 153.65/70. “There are some (dollar) conversions. Some exporters and banks are also…
26 agencies connected to the Port City project met for the 4th review meeting and site visit last week. The Department of Coast Conservation and Coastal Resource Management was the leading agency coordinating the review process while following agencies were amongst the complete monitoring panel, Ministry of Megapolis and Western Development, Ministry of Fisheries and…
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