The International Monetary Fund (IMF), downgraded sri Lanka’s economic growth in 2019 to 2.7%, down by 0.8% from an earlier projection in April. However, The IMF expects the Sri Lankan economy to rebound in 2020, hence forecasting a 3.5% growth, but that projection was subjected to a downgrade of 0.5% from its World Economic Outlook…
In a first effort of its nature, the United Nations Industrial Development Organization (UNIDO) Colombo is collaboratively unveiling a Forum on Bamboo for Energy and Industrial Sustainability on 25 October. The forum, organised by UNIDO in collaboration with the Institution of Engineers of Sri Lanka (IESL), takes place on Friday October 25 at the Institution…
Reuters – ** Sri Lankan shares closed at their highest level in seven weeks on Tuesday, led by a rally in banks and manufacturing stocks, while the rupee ended firmer. ** The benchmark stock index rose 0.28% to 5,880.40, the highest close since Sept. 3, 2019. This is the fourth straight session of positive close…
The Colombo Stock Exchange (CSE) in association with the Securities and Exchange Commission of Sri Lanka (SEC) recently engaged the business and investor community in Polonnaruwa to educate participants on stock market investments and listing on the stock exchange through the Empower Board. The Investor Forum marked the 18th event of the regional investor forum…
Issuing a notice the Central bank of Sri Lanka warned the public on several unauthorized and unregulated online forex trading scams operated by some companies where people have lost money. The CBSL noted that there are advertisements circulated in the print and electronic media, social media, internet and unsolicited e-mails by some companies to encourage…
The Board of Investment of Sri Lanka signed an Agreement with Omega Line Limited to reconstruct the factory building complex at the existing premises at Sandalankawa as an expansion of the existing project, representing an additional Investment of US$ 24 million. The Agreement was signed by Mr. Mangala Yapa, Chairman of the BOI and Mr….
The imposition of taxes inclusive of the Special Commodity Levy (SCL) the Ports and Airports Development Levy (PAL) and the Commodity Exports Support Scheme Levy (CESS Levy) which comes under para‑tariffs imposed in order to increase the Government annual revenue, to protect the local products from the competitiveness of importation, results in the increase in…
Headline inflation as measured by the year-on-year change in the National Consumer Price Index (NCPI) increased to 5% in September 2019 from 3.4%in August 2019, the Central Bank of Sri Lanka said. The monthly increases of prices of items in both Food and Non-food categories contributed to this increase as reflected in year-on-year Food and…
The Financial Action Task Force (FATF), the global policy setter on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), has delisted Sri Lanka from FATF’s Compliance Document which is more commonly identified as “the Grey List”. The decision was taken at the FATF Plenary held during 13-18 October 2019 in Paris. In October 2016, the FATF announced that…
Hayleys PLC in a stock exchange filling announced the appointment of Ms. Kawshi Amarasinghe as the alternate Director (Non-executive) to Dhammika Perera with effect from 17th October 2019. Kawshi Amarasinghe currently serves as Manager of International Business Development and CSR at Vallibel One PLC. She is responsible in leading the Research and Strategic Business Development…
