Recommendations made by the Advisory Committee for Revival of Failed Licensed Finance Companies The Monetary Board of the Central Bank of Sri Lanka (Monetary Board) established the Advisory Committee for Revival of Failed Finance Companies (Committee) in October 2021 to examine possible revival options for five (5) failed finance companies, i.e., Central Investments & Finance…
The foundations of Sri Lanka’s economic revival have to be built on export industries In the last 30 years, Sri Lanka has lived through a debilitating civil war, a tsunami, the Easter Sunday bomb attacks and a two-year long pandemic. As a nation, we have battled through them all, emerging bruised but not broken. We…
The Securities and Exchange Commission of Sri Lanka (SEC), the Colombo Stock Exchange (CSE) and the CFA Society Sri Lanka (CFASSL) have entered into a Memorandum of Understanding (MoU) to further strengthen Environmental, Social, and Governance (ESG) focus in the Sri Lankan capital market. The MoU will enable the institutions to jointly deliver initiatives focused…
COPA instructed the officials of the Ministry of Power and Energy to prepare a detailed road map for excavations in the country for the purpose of obtaining gas and crude oil. The afore stated instructions were given to the officials of the Ministry of Power and Energy at the Committee on Public Accounts (COPA) held…
Bloomberg – Leonardo Del Vecchio, the Italian entrepreneur who started with a tiny optics workshop in the Dolomite mountains and ended up as the undisputed world leader in eyewear, has died. He was 87. His death was reported by Italian daily Corriere della Sera on Monday. A spokesman for Del Vecchio wasn’t immediately available for…
One of the most critical implications of Sri Lanka’s current economic crisis is the hard hit on the transport sector. The foreign exchange shortage has made importing fuel a major challenge, severely affecting road transportation and further impeding the performance of an already crippled economy. This Policy Insight gives context to the ongoing transportation issues…
Sri Lanka’s Export Performance in May 2022 Earnings from the merchandise exports increased by 9.9 % y-o-y to US$ 980.2 Mn in May 2022 as per the data released by the Sri Lanka Customs. This was mainly due to the increase in earnings from export of Apparel & Textiles, Coconut based products and Electrical &…
98 Acres Resort & Spa continue to drive international tourism to Sri Lanka, with 5-star resort property catering to couples and high-end travelers 98 Acres Resort & Spa become feature property for luxury travel segment to Sri Lanka The luxury resort and spa has been named amidst high-end luxury properties in Asia, known for 5-star…
By Prof. Samitha Hettige It is not clear if Angulimala’s family owned a pastry shop or a catering service but it is known that a high level saffron involvement got him pardoned. One may also come up with “right to life” claims related to the Angulimala case but in SL at present food security is…
With the intention of attracting foreign currency in the hands of the public into the formal banking system, the Minister of Finance has issued an Order under Section 8 of the Foreign Exchange Act No. 12 of 2017 as follows: Reducing the amount of foreign currency retained in possession by a person in, or resident…
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