The Cabinet of Ministers has approved the proposal presented by Minister of Trade to import 6,000 metric tons of Basmati rice annually under the provision of the Pakistan-Sri Lanka Free Trade Agreement (FTA) and to allow only the Sri Lanka State Trading Corporation (STC) and Cooperative Wholesale Establishment (CWE) to import rice under this agreement. Earlier, the…
Sri Lanka Tourism in collaboration with Sri Lanka High Commission in the UK participated at a Virtual Media networking session on 29th September 2020. The Virtual Media meet was organized by the ANTOR (Association of National Tourist Offices and Representatives) which is a voluntary nonpolitical organization established in the UK in 1952. ANTOR’s members comprise…
Policymakers’ unprecedented response to the global health crisis has contained risks to the financial system, but a prolonged recession or policy missteps could ignite growing vulnerabilities worldwide, the International Monetary Fund warned on Tuesday. The world’s largest multilateral lender said that some banking systems could experience capital shortfalls should the economic downturn in those regions…
Sri Lanka stocks closed lower on Tuesday (13), ending a four-day rally. Colombo’s main, All Share Price Index (ASPI) fell 38.08 points or 0.65% to end at 5,802.97 and the S&P SL20 Index of more liquid stocks fell 30.90 points or 1.32% to end at 2,303.81. Meanwhile, the market turnover shot up to Rs.5 billion….
Piramal Glass Ceylon PLC announced its results for the half year ended 30th September 2020 with a revenue of LKR 3,560 Mn and a Profit After Tax (PAT) of LKR 316 Mn, as against the revenue of LKR 3,527 Mn and PAT of LKR 95 Mn during the corresponding period in the previous year. The…
The Cabinet of Ministers has approved a proposal to completely restructure the Department of Supervision of Non-Bank Financial Institutions of the Central Bank of Sri Lanka and to formulate a new institutional structure to regulate Finance Companies, the state information office said. President Gotabaya Rajapaksha appointed a presidential commission on 09.01.2020 to investigate, inspect and…
Tournament to be played from Nov 21 to Dec 13; Players draft on Oct 19 Colombo: Pallekele International Cricket Stadium in Kandy and Mahinda Rajapaksa International Cricket Stadium in Hambantota will host all 23 matches to be played in the Lanka Premier League (LPL) 2020. The League is scheduled to be held from November 21…
The Cabinet of Ministers has granted their consent for the resolution forwarded by Prime Minister Mahinda Rajapaksa as the Minister of Finance for the incorporation of a company solely owned by the Secretary to the Treasury with all the expressways being taken under the particular Company. Accordingly, the proposed company is eligible of collecting funds required by itself…
Exports a billion dollars for the 3rd time in 2020 Sri Lanka’s merchandize exports have surpassed the $ 1 billion mark in September after July during this year, the Export Development Board (EDB) said. Export Development Board (EDB) Chairman Prabhash Subhasinghe mentioned; “I am extremely pleased to see $1 Billion of exports in September. I salute…
‘On average, emerging govts will lose revenue worth 2.1% points of GDP in 2020’ Emerging market Sovereigns, including Sri Lanka, that were struggling to increase tax intake before the COVID-19 pandemic will face additional hurdles, Moody’s Investors Service said in a report issued on Monday. The remarks were made as part of an assessment of how emerging…
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