~ First Sri Lankan Lady Elected as CIMA Global Vice President – 2020/21 Sri Lankan management accounting professional – Melanie Janine Kanaka, was elected as the first Sri Lankan woman Global Vice President of The Chartered Institute of Management Accountants (CIMA) by over a resounding 88% of its global members voting at the 101st Annual…
Opportunity is now open to commence productions in many sectors with the limiting of imports of several non-essential items, President Gotabaya Rajapaksa said. As pledged in “Saubhagyaye Dekma” policy statement the way has been paved for a people-centric production economy. The current challenge before the industrialists is to win the domestic and global market, President…
Headline inflation as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100)1 decreased further to 5.2% in May 2020 from 5.9% in April 2020. This was mainly driven by the statistical effect of the high base prevailed in May 2019. Meanwhile, Food inflation (Y-o-Y) declined to 11.1% in May 2020…
Workers’ remittances declined by 32.3% in April 2020, year on year, amounting to US dollars 375 million, latest External Sector Performance report of the Central Bank of Sri Lanka outlines. On a cumulative basis, workers’ remittances recorded a decline of 9.0% to US dollars 1,975 million during the first four months of 2020, in comparison to…
According to the latest external trade data released by the Central Bank, country’s trade deficit widened in April 2020 as exports fell more than the decline in imports. Sri Lanka’s external sector performance in April 2020 was severely affected by the COVID-19 pandemic related economic interruptions. The imposition of a partial lockdown had a significant impact on…
Ranjith Kodituwakku has been appointed as Chief Executive Officer/ General Manager of People’s Bank with effect from June 19, 2020. He had previously served as the Deputy General Manager (Commercial Banking and Digitalization). The appointment as CEO/GM follows the retirement of M.A. Boniface Silva – Acting CEO/GM. Ranjith Kodituwakku has over 37 years of banking…
First Capital Research believes that the Central Bank of Sri Lanka is yet again in a vulnerable position and the possibility of a policy rate cut is on the cards in order to push banks to consider the lending opportunities. The research firm allocates a policy rate cut expectation of 100bps bringing the SDFR and…
New Delhi: Reliance Industries Chairman Mukesh Ambani’s net worth has surged to new highs. Aside from being the richest Indian and Asian, Mukesh Ambani is now also part of the exclusive club of the world’s top 10 richest people. As per Bloomberg Billionaire’s Index, Ambani’s net worth has jumped to $64.5 billion making him the ninth…
A digital export promotion program was implemented last week by the Sri Lanka Export Development Board (EDB) to address the negative impact on exports caused by the outbreak of COVID 19.The scheduled physical export promotion programs of EDB are on hold due to the global pandemic, and instead new promotional activities are being accelerated. Hence…
The main index of the Colombo Stock Exchange, the All Share Price Index (ASPI) today (22) crossed the 5,000 point mark for the first time in 3 months – since March 13th, 2020. Meanwhile, The daily turnover crossed Rs. 1 billion mark as at 2pm today.
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