Economic
Former Central Bank (CB) Governor Ajith Nivard Cabraal claims that CB has returned to fixing the rupee/dollar exchange rate through the introduction of the so-called ‘guidance’ rate which he views as similar to the fixed rate adopted by the CB under his predecessor Prof.W.D. Lakshman.
The Port City Colombo will feature prominently at the year’s Commonwealth Heads of Government Meeting taking place in Rwanda this week.
First 19 days of June attracts 18,305 tourists, pushing cumulative figure to 396,826
Lowest recorded in three-week period this year from previous measly 21,102 recorded in May
Daily average arrivals further plunged to 963
India tops tourist arrivals with 3,809 followed by UK 1,924 and Australia 1,367
Trillium Property Management, a luxury apartment owner, developer, and operator yesterday held the groundbreaking ceremony of its latest 60 upscale duplex (two stories) apartment project with exclusively designed two villas at its strategic location at No. 33, Lionel Edirisinghe Mawatha, Colombo-5.
SINGAPORE (Reuters): Global port congestion is set to continue until at least early 2023 and keep spot freight rates elevated, logistics executives said, urging charterers to switch to long-term contracts to manage shipping costs.
Hamilton Reserve Bank in January was optimistic about Sri Lanka and tweeted this sentiment along with a picture of then CBSL Governor Nivard Cabraal. The tweet read: “#HamiltonReserveBank expands into #SriLanka, fully supports Central Bank of Sri Lanka @CBSL Governor Ajith Nivard Cabraal @an_cabraal #GOSL #ISB, signing up 5 new multicurrency correspondent banks for HRB clients. Appreciates the efforts of HRB executive Ghassan Nasr (left)”
The country’s headline inflation, as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index (NCPI) increased to 45.3% in May 2022 from 33.8% in April 2022.
Korean SPA Packaging Ltd. (KSPA) has recently signed an agreement with the Board of Investment (BOI) with respect to the resumption of the operation at the defunct Embilipitiya Paper Mill, which had discontinued its production since 2012.
LONDON (Reuters): More than 30 asset managers holding Sri Lanka’s international bonds announced on Tuesday the formal launch of a creditor group to start debt restructuring talks with the island nation, according to a statement from legal adviser White & Case LLC.
ලංකා බැංකුව ඉතිහාසයේ වාර්තාගත රුපියල් බිලියන 43 ක බදු පෙර ලාභයක් උපයා තිබෙනවා. ණය ක්රම පුළුල් කිරීම හා දීප ව්යාප්ත සියලු ස්ථරයන් ආවරණය කෙරෙන ගණුදෙනුකරුවන්ට සමීප සේවාවක් සැපයීමෙන් අදාළ ඉලක්ක සපුරා ගෙන ඇති බවයි අනාවරණ වී ඇත්තේ. ඒ, ලංකා බැංකුවේ 2021 වාර්ෂික වාර්තාව ජනාධිපති ගෝඨාභය රාජපක්ෂ මහතා වෙත පිළිගැන්වූ අවස්ථාවේදීයි.
A discussion on how the Prevention of Money Laundering Act could be amended was held under the patronage of Justice, Constitutional Reforms and Prison Affairs Dr. Wijeyadasa Rajapakshe yesterday.
In its June edition, business magazine LMD says there’s “no hope of respite from floating rupees, fiscal storms and wolves at the door”, noting that “the May LMD-NielsenIQ Business Confidence Index (BCI) survey provides some valuable insights”.
The tourism industry has welcomed the Government’s decision to lift the mandatory COVID-19 insurance to boost the sector, as the world is opening up post-pandemic.
REUTERS: Sri Lankan shares retreated 3% yesterday to record their biggest weekly decline since late April, dragged down by industrials and financials, amid a worsening economic crisis in the country.
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