Joint Chambers welcome the appointment of two experienced professionals to the posts of Governor, Central Bank and Secretary, Ministry of Finance and wish both of them all success. We also extend our fullest cooperation to the new appointees in navigating the Sri Lankan economy out of its current predicament. At the same time, the Joint…
Reuters – Sri Lanka must urgently seek funds from multilateral lenders and aim to restructure a debt payment due in July, its outgoing finance minister said on Thursday, pleading for political stability amid the country’s worst economic crisis in decades. The opposition and some partners of the ruling coalition rejected calls this week for a…
Amana Bank crossed the LKR 100 Bn milestone in Customer Deposits as of Q1 2022 thereby becoming one of the fastest Licensed Commercial Banks to reach this mark within a very short period. The Bank’s accelerated growth in deposits is owing to the wide and growing acceptance of its people friendly banking model across all…
Established in 1999, the Chamber of Young Lankan Entrepreneurs (COYLE), the nation’s premier business chamber which aims to encourage collaboration between business entities, including supporting and developing local entrepreneurs, while providing assistance to its members in commercial business matters, has voiced its concern regarding the inability of many businesses to sustain their regular functions due…
Sri Lanka High Commissioner to Bangladesh said that profound historical and cultural relations have lasted between Sri Lanka and Bangladesh and it is time to deepen the economic cooperation between the two countries. High Commissioner Professor Sudharshan Seneviratne highlighted the idea at a meeting held with the President of the Federation of Bangladesh Chamber of…
Urges all parties to put differences aside and work together to resolve crisis In a recent statement, the apparel industry has urged all stakeholders to put aside differences and work together to resolve the current crisis, which has imposed severe hardships on people and hampered the economy. If the current macroeconomic crisis continues for longer…
The Sri Lankan tea exporters who are grappling with a number of internal and external issues such as low tea crop, high COP, fuel issue , sanctions on Russia, high freight rates etc are concerned of the possible loss of market share for Ceylon Tea if the corrective measures are not taken immediately. Since November…
Rupee sheds a third of its value against the dollar as deepening crisis raises threat of default Financial Times – Sri Lanka’s rupee has plunged to a record low to become the world’s worst-performing currency, as President Gotabaya Rajapaksa struggles to contain a worsening economic and political crisis. The Sri Lankan rupee was hovering near…
The Colombo Tea Traders’ Association established in 1894 is the apex private sector body comprising of all Stakeholders namely Growers, Manufacturers, Brokers and Buyers/Exporters. The Industry supports the livelihood of over 2 million people and is pivotal in sustaining the key areas in the rural economy. Sri Lanka exports over 90% of its annual production…
The Board of Investment today announced that it has received 33 investment proposals worth US$ 1,412 million in the first quarter of this year. This value includes investments of 22 new projects into diverse sectors in Energy projects including fuel and Renewable sources (Solar & Wind), heavy industry, logistic & IT infrastructure sectors as well…
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