Introduction A super-holding company for managing State-Owned Enterprises (SOEs) has been identified as a globally successful model for SOE management. This model allows the government to adopt a more arms-length approach to SOEs’ operational decision-making, relieving it of the direct responsibility of overseeing all the SOEs dispersed across various industries, and redirect its budget and…
Ambassador Chung’s Remarks to the 183rd Annual General Meeting of the Ceylon Chamber of Commerce June 30, 2022 Chairman Govindasamy, CEO de Silva, honorable members of the board, and friends at the Ceylon Chamber of Commerce – thank you for the invitation to speak with you this evening. I understand this is the first time…
The Board of Investment (BOI) today (01) launched the five-year residence visa program dedicated to investors, stakeholders and BOI enterprises. Issuing long-term visas for investors has been the practice as per the international standards. On par with matching the international benchmark in respect of ease of doing business, the BOI has decided to launch this…
The Ceylon Chamber of Commerce re-elected its leadership for the forthcoming year at its 183rd Annual General Meeting on 30 June, 2022. The United States Ambassador to Sri Lanka Her Excellency Julie Chung attended as the Chief Guest. Highlighting the Chamber’s concerted efforts toward national economic policy reform, Mr. Vish, Govindasamy, re-elected as Chairman of…
The second round of the Gallup Style “Mood of the Nation” poll was conducted in June by Verité Research. It assessed the approval, satisfaction, and confidence of the nation in relation to the government, the country, and the economy. The poll was conducted as a part of the syndicated survey instrument by Verité Research. This…
The Ceylon Chamber of Commerce held its 183rd Annual General Meeting at the Cinnamon Grand Hotel on 30 June, 2022. The Chief Guest at the AGM was Her Excellency Julie Chung, the U.S. Ambassador to Sri Lanka and the Maldives. Mr. Vish Govindasamy was re-elected as Chairman of the Chamber for the year 2022/23. In…
Sri Lanka is suddenly fighting a new war with the index rolling back to wartime When 99 percent of business leaders fear for the investment climate and the national coffers are as empty as a starving person’s belly, and when the very bare necessities of life are not available and people are looking deprivation in…
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100) increased to 54.6% in June 2022 from 39.1% in May 2022. This increase in Y-o-Y inflation was driven by the monthly increases of both Food and Non-Food categories. Accordingly, Food inflation (Y-o-Y) increased to 80.1% in June 2022…
The Central Bank of Sri Lanka is pleased to announce that His Excellency President Gotabaya Rajapaksa has re-appointed Dr P. Nandalal Weerasinghe as the Governor of the Central Bank of Sri Lanka for a further term of six years, with effect from 4th July 2022.
The IMF team had constructive and productive discussions with the authorities on economic policies and reforms to be supported by an IMF Extended Fund Facility (EFF) arrangement. Significant progress was made, and discussions will continue virtually towards reaching a staff-level agreement on the EFF arrangement in the near term. The objectives of the new IMF-supported…
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