Sri Lanka’s State-Owned Enterprises (SOEs) has been the topic of debate for many years now. Discussions around it have covered improving profitability, service and governance while examining the root causes for the continued losses incurred by SOEs. Some of the solutions for reforms are well known, but its implementation has been weak – leading to…
Central bank of Sri Lanka intervened in the foreign exchange market in the last few days, Governor of CBSL Dr. Indrajit Coomaraswamy said whilst addressing the media in Colombo today (23). “Last three days or so we think the pressure that has been in the forex market is not align with the underline fundamentals. We…
Sri Lanka plans to welcome over 175,000 tourists this month, expecting a major boost from the mega Bohra Global Convention which is scheduled to be held from September 1 to 10 in Colombo. “The conference will bring as many as 25,000 tourists to Sri Lanka, from over 40 countries,” Tourism Development Minister John Amaratunga said…
As you would be aware, Laxman Muthiyah is the famous bug-hunter who uncovered not only a data deletion flaw but also a data disclosure bug on Facebook. The first bug meant he could have zapped all your photos without knowing your password. The second meant that he could have tricked you into installing an innocent-looking…
The Monetary Board of Sri Lanka’s Central Bank will impose appropriate caps on market lending rates of individual institutions or financial institutions, if the intended reduction in market lending rates is not realized within specific timelines. Sri Lanka’s Central Bank with the expectation of reducing all market lending rates in line with the reduction already…
The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 22 August 2019, decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 50 basis points to 7.00 per cent and 8.00 per cent, respectively. The Board arrived at…
(Reuters) – The Sri Lankan rupee fell for the fourth straight session on Thursday, weighed down by foreign outflows from government securities and tracking other emerging currencies. Stocks closed steady. ** The rupee ended 0.36% weaker at 179.40/60 per dollar, compared with Wednesday’s close of 178.75/179.00, extending the loss in the last four sessions to…
Sri Lanka’s Public Private Partnership Agency is currently having discussions with china development bank to pay off two third of SriLankan airlines debt under a re–financing system and to take the burden off the national carrier. This was revealed by the PPP agency chairman Thilan Wijesinghe during the parliamentary committee on public enterprises which took place yesterday….
A delegation from the two day Colombo International Logistics Conference (CILC) held during the first week of August, visited the Hambantota International Port (HIP) recently. The high-ranking delegation representing several nationalities from across the globe, included Dr. Vincent Valentine, Transport Economist from UNCTAD UK, Dr. Andreia Theil, Head of Corporate Strategy, Port of Hamburg, Lutz…
Sri Lanka’s First Capital Research believes that the raising of US $500 million via Samurai bonds is likely to support to maintain reserves around the US $8 billion mark throughout the rest of 2019. As per Governor of CBSL, the government will soon issue Request for Proposals to raise US $500 million via Samurai bonds, which may boost reserves…
