Immediately donates lifesaving medical supplies to Castle Street Hospital Responding to a desperate plea by the medical fraternity, Hemas Hospitals immediately donated 500 Endotracheal (ET) tubes to the neo-natal unit of the Castle Street Hospital for Women. The gesture was in immediate response to a recorded voice message in circulation by Dr Saman Kumara, Consultant…
The Monetary Board of the Central Bank of Sri Lanka decided to remove caps imposed on lending interest rates applicable to credit cards, pre-arranged temporary overdrafts, and pawning facilities to facilitate the effective transmission of the policy adjustment. The Board noted that such policy and regulatory actions, upon quick transmission, would raise the cost of funds, thereby…
The Ministry of Foreign Affairs notes that attention has been focused on the revision of the U.S. Travel Advisory on Sri Lanka as at 6 April 2022. The Ministry recalls that since June 2021, with the COVID-19 pandemic, the U.S. Travel Advisory for Sri Lanka has remained at Level 3, and as such has not…
The Women Corporate Directors, Sri Lanka call on politicians of ALL parties to act urgently and cohesively to take the following IMMEDIATE ACTIONS to prevent an economic catastrophe. 1. Support the appointment and functioning of a cabinet including Finance Minister to negotiate and implement IMF programme. 2. Support the independent functionality of the Central Bank…
With the nation of Bangladesh poised to become an economic powerhouse in the South Asian region, the Ceylon Chamber of Commerce hosted a meeting with a high-level delegation representing the Bangladesh Export Processing Zones Authority (BEPZA) aimed at enhancing trade relations between Sri Lanka and Bangladesh. Welcoming the delegation from BEPZA, Chairman of the Ceylon…
Bloomberg – Sri Lanka’s unprecedented interest-rate hike has helped restore the central bank’s credibility, although it’s not enough to remove the risk of a debt default as a political crisis delays an International Monetary Fund bailout, according to Citigroup Global Markets. The Central Bank of Sri Lanka raised the key rate by 700 basis-points on…
Nation pursuing debt restructuring in parallel to IMF program Central bank raised borrowing costs by unprecedented 700bps Bloomberg – The International Monetary Fund said it will hold discussions with senior Sri Lankan policymakers in the “coming days and weeks” about a possible support program to help the island nation overcome an economic crisis that’s spiraled…
The Sri Lanka Institute of Marketing (SLIM) elected Mr. Nuwan Gamage as it’s 44th President in its 52nd year along with New Council of Management and Executive Committee for the year 2022/23. Mr. Gamage is the Head of Corporate Affairs and Communications at Arinma Holdings and a past Honorary Vice President of SLIM. He has…
Colombo International Container Terminals (CICT) excelled recently at the Global Ports Forum Awards 2021 and was awarded the title of the Most Efficient Terminal Operator for the year 2021. The award recognizes an international port or terminal operator that has achieved exceptional excellence in terminal efficiency by enhancing capacity and productivity through sustainable and consistent…
As the newly incumbent Governor of the Central Bank of Sri Lanka (CBSL), I am delighted that Mr. Sanjeeva Jayawardena, President’s Counsel and Dr. (Mrs.) Ranee Jayamaha, appointed members of the Monetary Board, have acceded to continue to serve on the Monetary Board, as they have always acted very independently, impartially, professionally and diligently, and…
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