The media has reported that the government intends to implement a system of quotas for imports and the rationing of food and fuel. This is the latest in the long list of interventions over the last two years to address the growing balance of payments problems. Similar to previous measures this too only addresses the…
The Colombo Stock Exchange (CSE) has adopted the United Nations Women’s Empowerment Principles (WEPs) as part of its commitment to promoting gender equality and women’s empowerment in the workplace, marketplace and community. The WEPs are a set of Principles offering guidance to businesses on how to promote gender equality and women’s empowerment. Established by UN…
Entrepreneurship is required to be one of the top priorities in any nation, and it needs to be encouraged in order to strengthen the autonomous assets of a country. The world is currently confronting massive challenges with the pandemic’s existence and as a developing country, the Sri Lankan government is compelled to support entrepreneurs in…
COLOMBO, Dec 29 (Reuters) – Sri Lanka has raised its official foreign exchange reserves to around $3.1 billion, helped by a currency swap agreement with China, sources said on Wednesday, as the South Asian country seeks to shore up its battered finances and credit ratings. The country’s central bank governor, Ajith Nivard Cabraal, said in…
Wang Yi’s two-day visit, expected between January 7 and 9, will take place against the backdrop of a spat between the two countries over a contaminated consignment of organic fertiliser that has resulted in unexpected tensions between both countries. The Indian Express – China’s Foreign Minister Wang Yi will visit Sri Lanka next week in the…
The Central Bank of Sri Lanka wishes to inform the general public that (as announced on 22 December 2021) expected foreign currency inflows are forthcoming and with the receipt of recent inflows, the official reserves position has now reached around US dollars 3.1 billion, and is expected to remain at such level by end of…
The shares of Myland Developments Limited (CODE: MDL-N-0000) commenced trading on the Colombo Stock Exchange (CSE) Tuesday (28). The shares have been listed on the Diri Savi Board of the CSE under the “Real Estate Development” sector. The occasion was marked with a special Bell Ringing Ceremony. Representing Myland Developments Limited, Chairman/Independent/Non-Executive Director Mr.W.D. Premachandra, Managing Director/Executive Director Mr. Nalin Perera, Executive Director Ms. Iresha Dissanayake, Independent/Non-Executive Director Mr. Ajith Alahakoon joined the event. Financial Advisors &…
by Xinhua writer Tang Lu Xinhua – On the golden artificial beach in Colombo’s Port City, the Sri Lankan Sanjeewa Alwis was earnestly “building” a sandcastle model similar to the financial center building that will be built in Port City. Noticing Alwis’ “masterpiece” on the beach, three Sri Lankan kids playing by the sea…
The Central Bank Governor has ordered all licensed banks in the country to sell 25% of converted US dollars to the CBSL on a weekly basis. It came as an amendment to the Operating Instructions on “Incentive Scheme on Inward Worker Remittances”, “Repatriation of Export Proceeds into Sri Lanka”, “Additional Incentive Scheme on Inward Workers’…
The new Securities and Exchange Commission of Sri Lanka (SEC) Act which came into force from 19th September 2021 contains provisions which enable the setting up of a Central Counterparty (CCP). Further, the need for setting up a CCP in order to enhance the efficiency of post trade risk management had been spoken of for…
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