Economic
Says conversion rule does not apply to service export proceeds on or after Aug. 12
Says the decision taken to encourage service exporters to repatriate their export proceeds
However, mandatory requirement to receive services exports proceeds within 180 days remains unchanged
Sri Lanka has received little over Rs.1.5bn as services exports in first half; US$ 406mn converted to rupees
The Colombo stock market yesterday saw a hive of activity boosting the turnover to over a six-month high whilst the benchmark index reached a psychologically important new level.
සේවා අපනයන ලැබීම් හා ඉපැයීම් රුපියල් බවට පරිවර්තනය කිරීමේ අනිවාර්ය අවශ්යතාව ඉවත් කර තිබෙනවා. ශ්රී ලංකා මහ බැංකුව මෙම අනිවාර්යය අවශ්යතාව පනවනු ලැබුවේ සේවා අපනයනකරුවන්ගේ අපනයන ඉපැයීම් රට තුළට ගෙන ඒම සඳහා ඔවුන් ව දිරිමත් කිරීමේ අරමුණින්.
Sampath Bank navigates economic crisis with confidence backed by strong capital, liquidity positions
Sampath Bank said yesterday it continued to maintain a solid capital base and stable liquidity profile in the first half of 2022 notwithstanding multiple economic challenges.
Ahead of the much-awaited tourism roadshows in India, the Government has ramped-up the visa processes to boost arrivals thereby enable a faster recovery of the triple-hit leisure industry.
While there is an ever-so-slight uptick in economic perceptions, despite the state of the State, the big picture is that Sri Lanka’s economic prospects continue to be viewed with anxiousness by the business community, says leading business magazine LMD, in its August edition.
Signs-up 75 projects with investment commitment of $ 1.29 b YTD
1Q FDI realisation at $ 228 m
BOI Director-General Renuka Weerakone confident of achieving investment proposals to reach $ 2 b target for 2022
Woos investments despite multiple economic, political crises
Opines higher number of expansion projects reflect confidence among existing investors in SL
Says multiple investors keen on renewable energy projects
BOI focuses on vigorous investment facilitation, solving process bottlenecks, strengthening digital transformation to streamline services
Sets up Stakeholder Engagement Committee replacing Monetary Policy Consultative Committee and the Financial System Stability Consultative Committee
The Central Bank of Sri Lanka (CBSL), with a view to broadening its engagement with key stakeholders of the economy, established the Stakeholder Engagement Committee (SEC) by replacing the Monetary Policy Consultative Committee (MPCC) and the Financial System Stability Consultative Committee (FSSCC) of the CBSL that were in operation previously.
Main shipping lines raise concerns of law and order and move to alternative routes
As a result, transshipment volumes decline by 4.5% YoY to 483,070 TEUs
Transshipment volumes up by just 1% YoY to 2.89mn TEUs in first half
Both export and import container handling down considerably
Transshipment container volumes at the Port of Colombo in June took a blow from the political crisis and social unrest that prevailed in the country, which raised law and order concerns among main shipping lines.
In June, the container transshipment volumes declined by 4.5 percent Year-on-Year (YoY) to 483,070 TEUs, as the main shipping lines moved to alternative routes avoiding Port of Colombo, as they were disturbed by political crisis and social unrest prevailed in the country.
Dr. Roshan Perera says stable macroeconomic policies more effective to attract FDIs
Opines SL lost a lot of revenue in implementation which could have been put into social welfare
Insists on conducting a cost-benefit analysis to evaluate transparency of investments and tax exemptions
Points to resource misallocation, implementation, administration complexities encouraged corruption
Claims system created opportunities for rent-seeking, misuse of discretionary powers vested to multiple agencies
Suggests tax exemption policies must be taken as a strategic decision, not at the discretion of a bureaucrat
Monday, 15 August 2022 02:06 - - 249
Total Operating income doubles to Rs. 63.3 b
Impairment for 1H exceeds Rs. 40 b
Net Stage III loan ratio improves to 2.46%
Tier I capital ratio at 11.39% and total capital ratio at 14.54%
Liquid Coverage ratio at 210% well above statutory minimum of 90%
The Cabinet of Ministers at its meeting on Monday agreed on awarding the insurance coverage for all four categories of SriLankan Airlines from Sri Lanka Insurance Corporation.
Despite a fair track record of privatisations or restructuring of State-Owned Enterprises (SOEs) via the Colombo stock market in the past, new President Ranil Wickremesinghe on Friday ruffled many feathers by questioning the CSE’s neutrality and beneficiaries.
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