High regional disparity in economic development has been a common characteristic in the Sri Lankan economy for a long period of time. The long drawn internal conflict further aggravated the situation and the businesses in the North and East have been operating in isolation for nearly three decades. Though the regional disparities have slightly reduced…
The Guardian Acuity Money Market fund which is more than four years old has returned 48.44% to its investors. This is an annualized return of 11.37%. The fund invests in government securities, fixed deposits and commercial papers and provides for easy withdrawals with no penalties for withdrawals. The Money Market Gilt fund which was launched…
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, increased to 5.3 percent in May 2016 from 4.3 per cent in April 2016, on year-on-year basis. Both Food and all Nonfood categories except for the Housing, Water, Electricity, Gas, and…
When it came out, the Nissan Leaf‘s battery pack was deemed ample, its 24-kWh battery providing some 70 to 80 miles of range. But now, in a segment soon to be lousy with 200-mile EVs from Chevrolet and Tesla, those numbers just aren’t enough to be competitive. Thankfully, there’s a new Leaf on the way,…
Reuters – Sri Lankan shares fell on Tuesday for a second straight session, a day after Moody’s revised down its outlook on the country’s sovereign rating and as continued foreign outflows and rising interest rates weighed on investor sentiment. Investors were also concerned over a government proposal to reintroduce capital gains tax, brokers said. Moody’s…
The Chartered Institute of Management Accountants (CIMA) and the American Institute of CPAs (AICPA), are joining forces to create a new association that would represent the breadth of the accounting profession. The new Association aims to become the most influential professional accounting body in the world, and will represent 600,000 current and next-generation professionals. It…
The Exporters Association of Sri Lanka (EASL), an affiliated trade organization of the Ceylon Chamber of Commerce welcomes the lifting of the EU ban imposed on the export of Sri Lanka fisheries products to the EU market. The latest move by the EU, which was also endorsed by The Seafood Exporters Association of Sri Lanka,…
The Monetary Policy Review of June 2016 will be announced on Friday, 24 June 2016 at 6.00 p.m.
The Sri Lanka Shippers Council, an affiliated trade body of the Ceylon Chamber of Commerce welcomes the International Chamber of Commerce Global Guide on transport and the Incoterms 2010 Rules. The Chairman of the Council Mr. Sean Van Dort says this latest guide by the ICC will help strengthen the Gazette Extraordinary 1847/53 issued by…
Moody’s Investors Service has affirmed the government of Sri Lanka’s foreign currency issuer and senior unsecured sovereign ratings at B1 and changed the outlook to negative from stable. Two key drivers underpin the change in outlook to negative from stable: 1) Our expectation of a further weakening in some of Sri Lanka’s fiscal metrics in…
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