The new Cabinet of Ministers were sworn in before President Gotabaya Rajapaksa at the Presidential Secretariat, today (22). Following are the Ministers and their portfolios: 1. Hon. Prime Minister Mahinda Rajapaksa – Minister of Finance, Economic Affairs, Policy Development, Buddha Sasana, Cultural, Water Supply & Urban Development, Housing Facilities 2. Hon. Nimal Siripala de Silva…
As the newly elected President of Sri Lanka is making the best effort to put the Sri Lankan economy back on a strong recovery path, while addressing many challenges, Prima Ceylon (Private) Ltd will assist the president’s endeavors by withdrawing the recent price increase, pending discussions with the new government. Accordingly, bakery owners and retail…
Reuters – Sri Lankan shares ended largely unchanged on Thursday, hovering near a more than one-year high hit earlier this week, while the rupee ended weaker as investors awaited policies from the newly elected government. ** Mahinda Rajapaksa took oath as prime minister earlier in the day, cementing his powerful family’s political comeback, after former…
Sri Lanka’s central bank has warned the public to be vigilant of financial frauds and scams being operated through social media, and Internet-based applications. Issuing a statement the CBSL noted that most of these scams are conducted through easy loan schemes that attract the public. Hence, The CBSL strongly advises the public to be vigilant…
Headline inflation as measured by the year-on-year change in the National Consumer Price Index (NCPI, 2013=100)1 increased to 5.6 per cent in October 2019 from 5.0 per cent in September 2019. The monthly increases of prices of items in the Food category contributed to this increase. Accordingly, Food inflation (Y-o-Y) increased to 7.3 per cent in October 2019 from 4.9 per cent in September…
The Central Bank of Sri Lanka strongly objects to the statement released by Fitch Ratings on 21 November 2019 titled “Sri Lanka Election Result Increases Policy Uncertainty”, as it depicts the complete opposite of the realised positive market response to the outcome of the Presidential elections, followed by the assumption of duties by His Excellency…
Sri Lanka’s presidential election significantly increases policy uncertainty and could prompt loosening that exacerbates fiscal weaknesses and a rollback of reforms, Fitch Ratings says. However, whether these risks materialise remains to be seen as a clear policy direction may only start to emerge after parliamentary elections. Gotabaya Rajapaksa of the Sri Lanka Podujana Peramuna (SLPP)…
The Disrupt Asia Conference and Technology Innovation Festival is Sri Lanka’s one-of-a-kind conference organized by the Information Communication Technology Agency of Sri Lanka. The event, held for the 4th consecutive year, is aimed at showcasing and promoting Tech startups and Small and Medium Sized Entrepreneurs (SMEs). Disrupt Asia 2019, held at Nelum Pokuna Mahinda Rajapaksa…
Amãna Bank has showcased resilience by recording a 9 month Profit After Tax of Rs 431.0 million in 2019, in line with Rs 430.0 million that was achieved during a relatively favorable economic environment in the corresponding period of 2018. Profit Before Tax for the 9 months ending 30 September 2019 stood at Rs 598.6…
Sri Lanka Chamber of the Pharmaceutical Industry (SLCPI) in a congratulatory note to newly elected President Gotabaya Rajapaksa, said it was looking forwards to working closely with the new administration in achieving the healthcare goals of Sri Lanka. “We confirm our readiness to work together with your newly formed Government in charting the course in…
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