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CBSL downgrades Sri Lanka’s growth to 3%

The Central Bank yesterday stated that Sri Lanka’s growth forecast for 2019 has been downgraded to 3% from 4% earlier in the year. “As you know, growth was projected to be 4% at the beginning of the year, and after the Easter bombings we have revised it down to about 3%. I’ve seen some projections…

(0)Comments | July 12, 2019 12:51 pm

Sri Lanka ranked World’s Best Island by Travel + Leisure

Sri Lanka has been ranked as the ‘World’s Best Island ‘at the influential Travel + Leisure magazine’s World’s Best Awards scheme, determined according to a readers’ survey. The publication ranked destinations and companies spanning more than 90 categories, including everything from the best city in the world to best domestic airline to best regional resort…

(0)Comments | July 12, 2019 11:26 am

Policy interest rates of the Central Bank of Sri Lanka to remain unchanged

The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 11 July 2019, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 7.50 per cent and 8.50 per cent, respectively. The Board arrived at this decision following…

(0)Comments | July 12, 2019 10:15 am

Sri Lanka shares rise to 12-week closing high; rupee firmer

(Reuters) – Sri Lankan shares rose for the third straight session on Thursday to a 12-week closing high, as investors bought diversified and telecom stocks ahead of a key policy rates announcement later in the day. ** Sri Lanka’s central bank is expected to leave its key interest rates unchanged on Thursday, a Reuters poll…

(0)Comments | July 12, 2019 9:39 am

Sri Lanka tourist arrivals picking up; recovery is over 40% from June to July – Kishu

Chairman of Sri Lanka Tourism Promotion Bureau Kishu Gomes says that Sri Lanka is experiencing new record of tourist arrivals. “The average tourist arrival in May was 1200 but by June we managed to take the numbers up to 2200.  If you look at the rate of recovery it is about 66% month on month…

(0)Comments | July 11, 2019 3:45 pm

Relief for common man! Government reduces fuel prices

The Ministry of Finance announced that fuel prices had been reduced with effect from midnight yesterday. Accordingly, the price of a litre of Petrol (Octane 92) has been reduced by Rs.2 and the revised price will be Rs.136.The price of a litre of Petrol (Octane 95) has been reduced by Rs.5 and will be sold…

(0)Comments | July 11, 2019 3:43 pm

Malaysia – Sri Lanka bilateral trade records US $192.7mn in 4 months

Malaysia – Sri Lanka Business Council of the Ceylon Chamber of Commerce (SLMBC) held its 25th year AGM and Anniversary celebrations in Colombo recently. The Chief Guest to the event was the High Commissioner of Malaysia His Excellency Tan Yang Thai. The President of the Malaysia Sri Lanka Business Chamber Dato Kulasegaran, Past Presidents, Members…

(0)Comments | July 11, 2019 11:21 am

Best Corporate Citizen Sustainability Awards : Performance evaluation for Corporates – Ceylon Chamber

The Ceylon Chamber of Commerce will be launching the “Best Corporate Citizen Sustainability Award 2019” and “Best Sustainability Projects Awards 2019” (BCCS Award 2019) on 25 July, at the Chamber auditorium. The launch will include a briefing by an expert panel of evaluators, in which prospective applicants will be informed of the criteria and process…

(0)Comments | July 11, 2019 11:17 am

Foreigners pulled out over Rs. 3.9Bn from Government Securities in a week

The latest data from the Central Bank of Sri Lanka points out that Foreigners had gradually exited from Sri Lanka’s Government Securities (Treasury Bills and Treasury Bonds) and pulled out over Rs.3.9 billion in a week, during the period from 26 June to 3 July 2019. The value of Government Securities held by foreigners had fallen…

(0)Comments | July 11, 2019 10:51 am

Cabinet approval to amend Fisheries and Aquatic Resources Act to Deter and Eliminate Illegal and Unregulated Fishing

The number of complaints made by the foreign countries with regard to illegal fishing activities in their Exclusive Economic Zones by the registered Sri Lankan fishing boats are on the increase. At the same time, the trend in abusing fishing boats for drug trafficking, human trafficking as well as illegal transportation of goods outside the…

(0)Comments | July 11, 2019 10:44 am

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