According to the latest external trade data released by the Central Bank, country’s trade deficit had contracted in August 2019 as the decline in imports continued while the dip in exports in the previous month has largely recovered. Import expenditure recorded a decline of 16.6% (year-on-year) and export earnings declined fractionally by 0.4% (year-on-year) in…
(Reuters) – ** Sri Lankan stocks rose for the seventh straight session on Monday to hit a near six-week high as beverage and banking shares rallied. However, the rupee ended weaker. ** The benchmark stock index ended 0.61% firmer at 5,870.09, its highest close since Sept. 3. So far this year, the index has dropped…
Alliance Air, a subsidiary of Air India, is getting ready to launch direct flights from the northern Sri Lankan city to Chennai and Tiruchi. The new service is set to be launched this week, with a test flight from Chennai to Jaffna scheduled on Thursday, October 17. It will likely run three flights a week…
Sri Lanka’s banking sector should start preparing for the anticipated transformation of the current banking industry landscape as the new Banking Act is set to come into effect with the regulator gaining power to impose fines on errant banks. “We are in the process of reviewing the current banking act and there are number of amendments…
Sri Lanka’s gross official reserves fell US $886 million to US $7,637.6 million in September 2019 from US $8,523.7 in August, latest Central Bank data showed. By the end of September, foreign currency reserves were 6,637.3 million dollars while the reserve position in the IMF was 65.2 million dollars. Reserves in Gold were 926.7 million…
The Carbon Tax has been imposed under the Finance Act, No.35 of 2018. The tax liability depends on the age from the first registration, engine capacity and the fuel type of the vehicle but having considered the requests from the Public, the observations of the experts and the difficulty of implementation at the Divisional Secretariat…
The proposal made by the Minister of Finance, based on the Cabinet decision dated 2019‑09‑03, to secure the necessary funds for settling the Government debts in the near future, within the borrowing limits approved by the Active Liability Management Act, to raise US$500 million (Japanese Yen 60 billion) with a 10 year maturity of SAMURAI…
SriLankan Airlines, the National Carrier of Sri Lanka and a member of the oneworld alliance, reaffirming its stature as a leading airline in the Indian sub-continent, won the prestigious ‘Asia’s Leading Airline to the Indian Ocean’ title for the third consecutive year at World Travel Awards Asia & Oceania Gala Ceremony , held yesterday (…
The proposal made by the Minister of Megapolis & Western Development to vest a plot of land in extent of 1 acre, 1 rood and 19.40 perches located bordering the High level Road, Kottawa to Richard Pieris Distributors Ltd., at No. 310, Highlevel Road, Navinna, Maharagama on a 99 year lease basis, to implement a…
SriLankan Airlines regrets to inform that Flight UL460 from Colombo (CMB) to Narita (NRT) on 12th October is further delayed until 0215 hours on 13th October (Sri Lanka local time) due to Typhoon Hagibis. The estimated time of arrival in Narita is 1435 hours on 13th October (Japan local time). SriLankan Airlines is closely monitoring the situation and passengers are advised to contact SriLankan…
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