Central banks are ready to cooperate to support financial stability in the wake of Britain’s vote to leave the European Union, the Bank for International Settlements said on Saturday. Central bankers gathered at the organization’s global economy meeting in Switzerland discussed the implications of the referendum. “Governors endorsed the contingency measures put in place by…
According to provisional estimates of the Department of Census and Statistics (DCS), the Sri Lankan economy grew by 5.5 per cent, in real terms, in the first quarter of 2016 compared to the growth of 2.5 per cent recorded in the last quarter of 2015. Economic growth was mainly supported by the expansion of Industry…
The majority of the people voting in favour of Britain leaving the European Union may impact on Sri Lanka as well, said chief economist of the Ceylon Chamber of Commerce Anushka Wijesinha in response to a query by Ada Derana. He further added that 10 per cent of Sri Lanka’s exports are to Britain and…
Impact from the financial markets channel ▪ The effect of Britain’s EU referendum results on international financial markets would be a key channel of impact for Sri Lanka, as the external commercial borrowing environment becomes more volatile. ▪ The immediate volatility and uncertainty in currency and equity markets across Britain, Europe and Asia are at…
The Governor of the Central Bank of Sri Lanka Mr Arjuna Mahendran informed the Monetary Board at its meeting held on Friday, 24th June, 2016 that he would not be seeking re-appointment as Governor of the Central Bank of Sri Lanka when his term finishes on Thursday, 30th June, 2016 until the Parliamentary Committee on…
Carnage came to world markets on Friday as major television networks said Britain had voted to leave the European Union, sending sterling on a record plunge and pummelling share markets around the globe. Such a body blow to global confidence could well prevent the Federal Reserve from raising interest rates as planned this year, and…
Britain has voted to leave the European Union, results from Thursday’s landmark referendum showed, an outcome that sets the country on an uncertain path and deals the largest setback to European efforts to forge greater unity since World War Two. World financial markets dived as nearly complete results showed a 51.7/48.3 percent split for leaving….
~ Suggests remunerating workers during 12 days of the month based on the existing method and on the rest of the working days based on output The Regional Plantation Companies (RPCs) have put forward a modified proposal on the wages of estate/plantation sector workers, which via a hybrid solution attempts to bridge the gap between…
Sri Lanka’s surging retail supermarket industry’s newest rising star is from an unlikely source-the cooperatives movement of the country. “Out of all the top six supermarket brands, our coop-city cooperative shop is the third ranking supermarket for household purchases among Sri Lankan households” said Minister of Industry & Commerce Rishad Bathiudeen on 23 June. Minister…
A vote for the U.K. to leave the EU would take stocks, bonds and currencies on a wild ride The ramifications of the U.K.’s referendum Thursday on European Union membership will spill through Britain’s politics, Europe’s brittle economy and the world’s restive financial markets. A frenzy of recent polls has ping-ponged a tiny lead between…
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