The Sri Lankan government needs to look at its policy reforms and ease of doing business in order to attract foreign investment, the US Ambassador in Colombo Alaina B. Teplitz said yesterday (15). Addressing an online round table discussion with journalists, Ambassador Teplitz further stated that the only comprehensive economic development plan Sri Lanka needs…
Manufacturing sector PMI recorded a noticeable bounce in May 2020 reaching to 49.3, which is an increase of 25.1 index points, from the all-time low of 24.2 recorded in April 2020. The gradual easing of restrictions for mobility has contributed to the resumption of economic activities in the manufacturing sector. Production sub-index reported an index…
Cementing its credentials as the ‘Truly Sri Lankan Bank’, Pan Asia Bank has become the proud recipient of an USD 7.75 million (Approximately 1.5 billion rupees) Green Bond launched by the Switzerland-based Symbiotics, the leading market access platform for impact investing. This is the first green bond issuance by Symbiotics and Pan Asia Bank with…
Interpol has informed Sri Lanka that former Central Bank (CBSL) Governor Arjuna Mahendran, who is currently wanted over the Bond Scam, has changed his name. Accordingly, Mahendran has changed his name to ‘Harjan Alexander’. The Attorney General has informed this to the Special High Court, when the Bond Scam case was taken up before Justices…
President Gotabaya Rajapaksa said that the ‘Nelum Kuluna’ (Lotus Tower) Project should be bestowed with the country after modernizing it to the highest possible standard, as a productive investment. The President has instructed the officials to immediately commence the process of apprising the local and foreign entrepreneurs regarding investment opportunities in line with the project….
Sri Lanka’s construction sector which ranks as the 5th highest in the nations GDP earnings, after Services, Manufacturing, Agriculture and Utilities reports continued interest from local and international buyers as the industry gears towards returning to construction in a COVID-19 affected world. The current pandemic has left several industries drastically affected including recruitment, retail, travel…
The suspension of the recovery of instalments and interest for the loans granted to all Public Officers as a relief measure due to the COVID-19 pandemic situation will not be applicable from the month of June 2020, the Ministry of Public Administration stated. Ministry of Public Administration, Home Affairs, Provincial Councils and Local Government Secretary…
The Urban Development Authority has planned to implement a project to construct ‘studio type’ apartments of a maximum of 350 square feet, so as to accommodate middle-income earners who travel to Colombo from far away areas for their employment. Accordingly, the cabinet approval was granted to implement these housing scheme projects within a distance of…
The State Banks should make their bounden contribution to rebuilding the economy which is in a perilous state due to the COVID-19 pandemic, stated President Gotabaya Rajapaksa. It is the responsibility of State Banks to put in place the mechanism to implement the policies of a government, he said. Taking forward the strategy of maintaining…
The Government has decided to handover the administration of the ‘Suraksha’ student insurance policy to Sri Lanka Insurance after its agreement with the Allianz Insurance expired on May 31, 2020. The Cabinet approval was granted in accordance with the recommendations of the committee which provides recommendations for this insurance program to move it to a…
