MAS Holdings, a leading Sri Lankan conglomerate and is positioned as one of the world’s most recognized Design–to-Delivery Solution Providers in the realm of Apparel and Textile Manufacturing has announced opening plants in the Caracol Industrial Park (PIC) in Haiti soon. The Deputy Chairman of MAS Holdings Sharad Amalean at a reception organized by the…
Fairfax Asia to distribute General Insurance through Softlogic channels Asian Alliance General Insurance to be bought by Fairfax Asia Softlogic to focus on fast growing Life Business of Asian Alliance Softlogic Holdings PLC and Fairfax Asia announce that they have signed an agreement to enter into a ten year exclusive general insurance Distribution Agreement. The…
Sri Lanka’s first Remittance Card has been launched by the Commercial Bank of Ceylon to introduce a new dimension in convenience to the process of transferring funds from overseas to local beneficiaries. A branded Debit cum ATM Card licensed by Visa Inc. and issued locally by Commercial Bank to recipients of remittances, the new Remittance…
The Statistics Department of the Central Bank of Sri Lanka (CBSL) initiated conducting PMI survey for Manufacturing and Services sectors in the country starting from May 2015. The purpose of the survey is to provide purchasing professionals, business decision-makers and economic analysts with a timely set of data to help better understand industry conditions. This…
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…
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