The Monetary Board decided to extend the deadline of 4% Working Capital Loan Scheme, at its meeting held on 19th August 2020. Accordingly, COVID-19 affected businesses and individuals can submit their loan applications under the Saubagya COVID-19 renaissance facility to respective licensed banks until 30th September 2020. Meanwhile, the Central Bank of Sri Lanka surpassed…
Headline inflation as measured by the yearon- year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100) decreased to 6.1 per cent in July 2020 from 6.3 per cent in June 2020. This was mainly driven by the statistical effect of the high base prevailed in July 2019. Meanwhile, Food inflation (Y-o-Y) decreased to…
The Chamber Academy of the Ceylon Chamber of Commerce in partnership with Facebook will be conducting an informative webinar on Digital Payments. The Central Bank of Sri Lanka (CBSL) announced 2020 as the Year of Digital Transactions. However, with the impact of COVID-19, this theme is even more relevant as businesses are now adopting more…
The Central Bank of Sri Lanka (CBSL) established a new department named “Financial Consumer Relations Department” (FCRD) with effect from 10.08.2020 to serve as the single point of contact to handle all external complaints and grievances directed to CBSL on entities regulated by CBSL under the provisions of Section 33 of the Monetary Law Act…
Mediterranean Shipping Company (MSC) announced the enhancement of its Indus service with a new port call at Colombo in Sri Lanka. The first vessel on the revised rotation will be Seamax Bridgeport, ETA Abu Dhabi on 23 August 2020. As a major international transshipment hub, the addition of Colombo will reinforce offering for cargo shippers…
Trade Minister Bandula Gunawardena made his inaugural visit to the Sri Lanka Export Development Board (EDB) recently since assuming office and met the key officials of the institution. During his maiden discussion with the EDB’s top management, the Minister proposed the establishment of a coordination mechanism between the EDB and the new state ministries appointed…
Leading integrated global logistics solutions provider, Expolanka Freight (EFL) announced the successful completion of two shipments of general and perishable goods out of Mattala Rajapakse International Airport (MRIA) utilising converted incoming passenger repatriation flights last week. Given the company’s role as the first to move cargo out of MRIA in 2013 and first to start…
Going forward, the Central Bank of Sri Lanka (CBSL) will announce a housing credit program for low and middle-income groups, Central Bank Governor Prof. W. D. Lakshman stated. “While encouraging banks to mobilize deposits at reasonable interest rates to depositors the Central Bank would be looking at priority areas in the economy as indicated in the overall…
Pearl Energy (Pvt) Ltd., signed an agreement with the Board of Investment of Sri Lanka to launch ‘Hambantota LNG Hub’ – A floating storage LNG trading facility at the Port of Hambantota, bringing LNG to the doorstep of Sri Lanka, with a primary aim of trading LNG in the region utilizing the strategic location of…
Delivering the Policy Statement of the new government at the ceremonial sitting of the Parliament today (20), President Gotabaya Rajapaksa stated that Sri Lanka will halt the cultivation of oil palm in the country. “Currently, the income from tea, coconut and rubber industries is not at a satisfactory level. We will commence operations to develop…
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