Sri Lanka’s economy should grow between 6.0-6.5 percent this year given strong credit growth after key policy rates have been held at record lows since April, Central Bank Governor Arjuna Mahendran said on Tuesday. On an annual basis, economic growth accelerated to 6.7 percent in the second quarter from 4.4 in January-March. “Judging by the…
Parliament approved the proposal to increase the government’s local borrowings by a further Rs. 400 billion through the issue of Treasury Bills. With the approval of this proposal by Finance Minister Ravi Karunanayake, the limit of borrowings through the issue of Treasury Bills would increase from the current Rs. 850 billion to Rs. 1,250 billion….
Colombo bourse regained lost grounds on Tuesday where investor sentiments turned positive as Central Bank decided to keep the policy rates unchanged. All share index bagged 23.91 index points (+0.34%) to end at 7,041.26 while 20-script S&P SL index gained 15.56 index points or 0.41% to close at 3,796.86. Index performance was driven by price…
It has been revealed to adaderanabiz.lk that the Global Positioning System (GPS), a radio navigation system that allows land, sea, and airborne users to determine their exact location, velocity and time 24 hours a day, in all weather conditions, installed by the National Transport Commission (NTC) in 2,000 buses at a cost of over Rs….
An initiative by SLASSCOM Innovation and Entrepreneurship Forum, the Startup Sri Lanka Survey www.slasscom.lk/startupsrilanka main objective is to gain insights in to understanding the current state and most pressing needs of the Sri Lankan Startup community. The survey is targeted at four separate groups and captures unique perspectives from each: Current startups, those actively looking…
The Central Bank of Sri Lanka (CBSL) has decided to keep its policy interest rates which decide the interest rates of commercial banks, unchanged at 6.00 per cent and 7.50 per cent in October as well. Meanwhile the CBSL Monetary Board has decided continue the bank’s Statutory Reserve Ratio at 6.00 per cent.
David Cameron has appointed Alibaba founder Jack Ma to advise him on business. The announcement came the day before a four-day state visit to Britain by Chinese President Xi Jinping and as Britain seeks to boost its business ties with the world’s second-largest economy. Mr Cameron’s spokeswoman told reporters that Mr Ma, currently executive chairman…
Colombo stock market started weekly operations on mixed note on Monday despite the high institutional investor activity ahead of the 10th monetary policy review of the year. Benchmark index closed the session with flat returns at 7,017.35, down by 3.39 index points or 0.05%. S&P SL20 index gained 9.56 index points (+0.25%) to close at…
Renuka Foods PLC has subscribed to 125,000 ordinary shares amounting to Rs. 125 million at Rs. 1000 per share in its subsidiary company Renuka Agri Organics Limited. Meanwhile, its subsidiary Renuka Organics (Pvt) Limited has also subscribed to 250,000 ordinary shares to a consideration of Rs. 250 million ay Rs. 1,000 per share. Renuka Foods…
Robert Bosch Lanka (Private) Ltd. a wholly owned subsidiary of the Bosch Group Bosch offers products in the businesses of Automotive Aftermarket, Security Systems, Power Tools and Thermotechnology in Sri Lanka. Bosch, a leading global supplier of technology and services, inaugurated its first office in Colombo, Sri Lanka on October 19, 2015 in the presence…
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