The Central Bank of Sri Lanka (CBSL) has decided to maintain its policy interest rates which determine the interest rates of commercial banks, unchanged at 6.00 per cent to 7.50 per cent during June as well. Meanwhile, the CBSL’s Monetary Board has decided to further maintain the bank’s statutory reserve ratio at 6.00 percent. Though…
The Ceylon Chamber of Commerce recently, facilitated a meeting between Sri Lanka’s designated envoys to Vietnam and Philippines, respectively Mrs. Hasanthi Dissanayake and Mrs. Aruni Ranaraja and some local companies, who are doing business with the respective countries to discuss matters relating to trade and commercial ties between Sri Lankan and those two countries. During…
* All 11 Finalists move forward to explore opportunities with an International Panel of Investors The Venture Engine entrepreneurship development program drew to a close at The OZO, Colombo on 23 June, marking a successful four-year run. The 11 finalists behind the top ranked projects made their final presentations to a panel of internationally renowned…
The Steuart by Citrus, the latest addition to Colombo City’s tourism offering was declared open yesterday (26 June) by Tourism & Sports Minister Naveen Dissanayake amongahosts of distinguished guests. Located at the very heart of Colombo, The Steuart will operate as a boutique business hotel offering the convenience of its prime location coupled with true…
Former President of India Dr. Abdul Kalam delivering the inaugural speech at the International Energy Symposium organized by the Ministry of Power and Energy in Colombo (26) emphasized the need of member countries in the SAARC region coming together to achieve ‘energy independence’ by 2030. “All countries in the region have similar culture and environment….
Sri Lankan central bank Governor Arjuna Mahendran is seeking concessional overseas loans to refinance costlier debt and reduce reliance on global bond markets. “We are looking at tens of billions of dollars” from lenders including the U.S., Japan and the European Union, Mahendran said in a telephone interview from Colombo. Concessional credit will “eventually refinance…
Sri Lanka’s official foreign reserves which stood at USD 6.8 billion last May has grown to USD 7.6 billion by June, says the Central Bank of Sri Lanka (CBSL). This amount is adequate for 4.6 months of imports. The recent currency swap with India has facilitated the growth of Sri Lanka’s foreign reserves. Recently, Sri…
Colombo equities ended weekly operations with negative returns ahead of the mid-year monetary policy review. During the opening hours, main index increased to 7,035 mark but failed to maintain the momentum and touched 10 week low. All share index declined by 15.13 index points (-0.22%) to close at 7,016.20 while 20-scrip S&P SL index shed…
Japanese car giants Toyota, Nissan and Mitsubishi have expanded a recall of cars to replace airbags made by Takata. The recalls had initially been issued in North America, but have now been extended to the rest of the world. The carmakers said they were calling back a total of 3.2 million cars globally, affecting nearly…
The Steuart by Citrus, the latest addition to Colombo City’s tourism offering will be declared open today (26 June) President Maithripala Sirisena. Located at the very heart of Colombo, The Steuart will operate as a boutique business hotel offering the convenience of its prime location coupled with true Sri Lankan hospitality and traditional Scottish charm….
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