Rating agency ICRA Lanka expects the Central Bank of Sri Lanka (CBSL) to maintain an accommodative monetary policy and therefore current low-interest rate climate to continue throughout 2H 2020. Moreover, the rating agency believes that a stable policy framework and recovery strategy is paramount for the overall stability of the economy. ICRA Lanka, which is…
Sri Lanka’s export earnings have increased to US $ 1,060 million in July 2020, from US $ 1,020 million in June 2020, customs provisional statistics outlined, which is a positive signal that Sri Lanka is in the path of recovery faster than anticipated. This is slightly higher than the $ 999 million achieved in July last year….
Headline inflation as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100)1 increased to 4.2% in July 2020 from 3.9% in June 2020. This was mainly driven by monthly increase of prices of items in Non-food category along with the statistical effect of the low base prevailed in July 2019….
In Sri Lanka, owing to spiraling property prices it is a challenge for average citizens to finance real estate investments. Therefore, a significant proportion of the population of Sri Lanka is unable to benefit from the value appreciation of property and infrastructure development. The issue can be resolved by introducing a mechanism where capital is…
The Colombo Port City has launched a “Cloud Open Day” for the very first time to show the construction and development of the multi-million-dollar project from multiple perspectives online which will bring tangible results for Sri Lanka’s economy, a statement from the Colombo Port City said this Friday. The “City of the Future: Cloud Open…
The Sri Lanka Institute of Marketing (SLIM) held its 50th Annual General Meeting on 26th June 2020 at Marino Beach Hotel, adhering to the health and safety guidelines given by the government. Roshan Fernando was officially elected as the new President and will spearhead the institute as its 42nd President in the 50th year. A…
The Colombo Stock Exchange (CSE) offered guidance to listed companies on hosting Annual General Meetings (AGMs) amidst the COVID-19 pandemic. The CSE has observed that several Listed Companies had adopted the guidance offered by CSE and successfully hosted virtual/hybrid AGMs. Taking into consideration the feedback received from various stakeholders in this regard, the CSE has…
Nearly 10,000 Sri Lankan migrant workers have lost their jobs due to the coronavirus (COVID-19) pandemic, Sri Lanka Bureau of Foreign employment Deputy General Manager and Spokesperson Mangala Randeniya stated. Speaking exclusively to Ada Derana first at 9, Randeniya further stated that the SLBFE is ready to provide all necessary facilities to repatriate migrant workers…
The Government of Japan has donated a large shipment of canned fish, weighing 388 MT and worth JPY 300 million (LKR 519 million), to the United Nations World Food Programme (WFP) and the Government of Sri Lanka, to meet the protein needs of school children covered by the national school meal programme. The donation was…
Sampath Bank PLC announced the appointment of Mr.Harsha Amarasekera, as a Non- Executive, Non-Independent Director with effect from 18 August 2020. Harsha Amarasekera, President’s Counsel is a leading lawyer in Sri Lanka having a wide practice in the Original Courts as well as in the Appellate Court, specializing in Commercial Law, Business Law, Securities Law, Banking Law…
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