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Land registration goes digital

The first phase of digital land registration process has been initiated at the Colombo Land Registry and will be rolled out across 45 land registries island wide by the end of this year. The e-Land Registry software for this purpose was officially launched at the Land Registration Office in Colombo yesterday (04). This new software…

(0)Comments | January 5, 2021 5:28 pm

CSE market cap crosses Rs.3 trillion mark

The market capitalization of the Colombo Stock Exchange (CSE) crossed the Rs.3 trillion mark yesterday (04). Accordingly, the market capitalization at the end of yesterday’s trading session was Rs. 3,013,426,581,096. Ceylon Tobacco Company (CTC) is the largest listed company in Colombo Stock Exchange in terms of market capitalization of Rs.211 billion. John Keells Holdings is in…

(0)Comments | January 5, 2021 1:48 pm

Restriction on outward remittances on capital transactions extended till July 01, 2021

In order to preserve the foreign currency reserve position of the country and considering the possible negative impact to the Sri Lankan economy due to the Covid-19 pandemic situation, the Minister of Finance with approval of the Parliament has issued an Order published in the Gazette Notification No 2206/25 dated 18 December, 2020, extending the…

(0)Comments | January 5, 2021 12:46 pm

Cabinet nod to implement ‘e-thaksalawa’ as the official online learning portal in schools

The Cabinet of Ministers has approved the proposal tabled by Minister of Education to implement ‘e – thaksalawa’ programme as the official online learning portal in the schools and other education institutions functioning under the Ministry of Education. The Ministry of Education has already taken measures to implement the ‘e – thaksalawa’ programme as an online programme with…

(0)Comments | January 5, 2021 11:48 am

CB to establish ‘permanent’ single digit interest rate

The Central Bank of Sri Lanka (CBSL) intends to establish a ‘permanent single digit interest rate structure’ in the economy whilst remaining focused on maintaining market interest rates at single-digit levels going forward, CBSL Governor Prof. W.D. Lakshman said yesterday (04). Delivering the ‘Road Map 2021: Monetary and Financial Sector Policies for 2021 and Beyond,’ Governor Lakshman stated…

(0)Comments | January 5, 2021 9:57 am

State Minister Cabraal meets Chinese Ambassador

State Minister of Money, Capital Markets and Public Enterprises Reform Ajith Nivard Cabraal yesterday (04) met with Chinese Ambassador to Sri Lanka Qi Zhenhong. In a Twitter message, the State Minister stated that matters related to investments, trade and tourism were discussed during the meeting. Had a very productive meeting with Chinese Ambassador to Sri…

(0)Comments | January 5, 2021 9:11 am

COPE to summon five govt. institutions in January

The Committee on Public Enterprises (COPE) is scheduled to summon five government institutions in January, its chairman Prof. Charitha Herath stated. Accordingly, the Mahapola Higher Education Scholarship fund, the Ceylon Petroleum Corporation, and the Coconut Development Authority are to be summoned before the COPE. Prof. Charitha Herath further stated that arrangements have been made to…

(0)Comments | January 5, 2021 9:00 am

Stock market begins first trading session of 2021 with positive note. ASPI up by 120 points

The main index of the Colombo Stock Exchange, the All Share Price Index (ASPI) has got off to a strong start in its first trading session of 2021. The ASPI surged 120.76 points (or 0. 1.78%) to close at 6,894.98 and S&P SL20 Index of more liquid stocks gained 54.38 points (or 2.06%) to close…

(0)Comments | January 4, 2021 3:49 pm

National Development Banking Corporation to be established by merging three state banks

The Central Bank of Sri Lanka (CBSL) will work closely with the Government in facilitating the establishment of the proposed National Development Banking Corporation (NDBC) by merging the State Mortgage and Investment Bank (SMIB), the Housing Development Finance Corporation (HDFC), and Pradeshiya Sanwardhana Bank (PSB), enabling a new era of development banking in Sri Lanka, Central Bank…

(0)Comments | January 4, 2021 2:14 pm

SL economy to contract 3.9% in 2020: CB Chief 

Sri Lanka’s economy will contract around 3.9% in 2020, Central Bank Governor Deshamanya Professor W D Lakshman said. “With observed developments in the fourth quarter, we expect the economy to record an annual contraction of around 3.9%,” Governor Lakshman said whilst delivering “the Road Map: Monetary and Financial Sector Policies for 2021 and Beyond.” Speaking further the…

(0)Comments | January 4, 2021 1:24 pm