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Sri Lanka Launches First Social Impact Funds

Two Memoranda of Understanding were signed in New York, launching Sri Lanka’s first social impact funds aimed at supporting social entrepreneurs access innovative financing, to help achieve the 2030 Agenda for Sustainable Development. The signings were witnessed by Hon. Tilak Marapana, Minister of Foreign Affairs, Government of Sri Lanka, and Mr. Achim Steiner, UNDP Administrator,…

(0)Comments | October 2, 2018 10:36 am

EPF utilized to pay Rs.17 Mn PAYE Tax for CBSL Officers attached to Fund, Not yet recovered – Report

Sri Lanka’s Auditor General’s remarks on the lately released 2016 Annual Report of country’s largest private sector workers’ Pension Fund Employees Provident Fund (EPF) that is managed by the Central Bank of Sri Lanka, points out that EPF had paid over Rs. 17.5 million as PAYE (‘Pay As You Earn’) for the year under review,…

(0)Comments | October 2, 2018 9:25 am

CBSL maintains Sri Lanka policy interest rates at current levels

The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 01 October 2018, decided to maintain policy interest rates at their current levels. Accordingly, the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank will remain at 7.25 per cent and 8.50 per cent, respectively. Statement…

(0)Comments | October 2, 2018 7:40 am

Central Bank Governor’s sister Dr. Radhika Coomaraswamy appointed to JKH Board

Just in a little over 2 years after Sri Lanka’s oldest Central Bank Governor so far appointed – Dr. Indrajit Coomarswamy resigned from Sri Lanka’s foremost conglomerate John Keells Holding’s PLC (JKH) as independent non- executive director on John Keells board, his sister Dr. Radhika Coomaraswamy had been appointed to JKH board as an independent…

(0)Comments | October 1, 2018 4:23 pm

ADB and HNB ink US$ 20 Mn agreement to strengthen Sri Lankan Microfinance institutions

Sri Lanka’s most customer friendly bank, HNB PLC, announced the signing of a new partnership agreement with the Asian Development Bank (ADB) in order to expand lending and provide guarantees of up to US$ 20 million to support development of Sri Lanka’s burgeoning microfinance sector. Arranged under the ADB’s Microfinance Risk Participation and Guarantee Program,…

(0)Comments | October 1, 2018 4:19 pm

NEDA pioneers UNESCO-APEID entrepreneur event milestone in South Asia

Asia Pacific’s leading entrepreneur education series, the flagship UNESCO-APEID meet is to be held for the first time in South Asia-and the milestone event is moved for the region by Sri Lanka’s apex entrepreneur and SME business development agency, NEDA. “Entrepreneur development is a major pillar of economic reform vision of the Unity Government. Hosting…

(0)Comments | October 1, 2018 3:25 pm

Gold slips as dollar firms on Fed rate hike outlook

Reuters – Gold prices dipped on Monday, with the dollar holding steady after marking a near three-week high in the previous session in the wake of the US Federal Reserve’s plans last week for multiple interest rate hikes by 2020.  Fundamentals  Spot gold was down 0.2 per cent at $1,189.22 at 0111 GMT. The metal…

(0)Comments | October 1, 2018 12:00 pm

Auditor General highlights about ‘Delayed Hotel Project’ in Delayed EPF Annual Report for 2016

Recently released almost two years delayed annual report of Sri Lanka’s Central Bank managed South Asia’s largest private sector workers’ pension fund – Employees’ Provident Fund’s (EPF’s) 2016 annual report highlight’s that although EPF had invested around Rs. 5 billion in a hotel expecting the listing of shares of the investment on Colombo Stock Exchange…

(0)Comments | October 1, 2018 11:43 am

US dollar’s share of global foreign reserves hits lowest since 2013

The US dollar’s share of global central bank reserves fell to the lowest level since 2013 while holdings of the Chinese yuan rose for a fourth consecutive quarter, International Monetary Fund (IMF) data showed Friday. The US currency accounted for 62.3 per cent of global allocated foreign-exchange reserves in the second quarter, down from 62.5…

(0)Comments | October 1, 2018 11:07 am

IMF says Sri Lanka missed to meet Foreign Reserves target and Tax revenue Target

Sri Lanka has missed to meet Foreign Reserves target and Tax Revenue target set for June 2018 under an ongoing reforms programme and discussions are to continue on the next phase, latest International Monetary Fund – the global lender’s review mission said after a visit to the country.  A staff team from the International Monetary…

(0)Comments | September 28, 2018 1:06 pm