Economic
Central Bank Governor Ajith Nivard Cabraal yesterday said new strategies to address the hardships faced by the Micro, Small and Medium Enterprises (MSMEs) owing to the COVID-19 pandemic will be introduced shortly.
Altair Colombo, known for its unique and acclaimed architectural value and as a striking landmark redefining the skyline of Colombo, was ceremoniously declared open on Wednesday by Prime Minister (PM) Mahinda Rajapaksa.
Lists measures to shore up foreign reserves; lists ongoing and planned multi-billion initiatives
BudgetPromises, a platform to track delivery of Government budget proposals, revealed yesterday there was poorer visibility on many Cabinet decisions surrounding projects, with the proportion of proposals with restricted information more than doubling over the past two years.
CBSL Chief Cabraal believes new dedicated mobile app and benefits could increase annual workers remittances inflow by a further $ 2 b to $ 9 b
Sept 2021 remittances almost halved to $ 353 m from a year ago; nine months figure down by 9% to $ 4.5 b
The Central Bank Monetary Board yesterday issued new rules, as published in the Gazette Extraordinary No. 2251/42 dated 28 October, in respect of repatriation of export proceeds into Sri Lanka and conversion of such export proceeds to rupees.
Minister of Plantations Dr. Ramesh Pathirana has instructed State banks to pay more attention to the loans provided by the Asian Development Bank to small and medium scale (SME) tea estate owners.
Nearly 16,500 tourists have arrived in the country between 1 and 24 October, boosting hopes for the crisis-ridden industry.
First 9 months’ haul tops $ 11 b mark, reflecting 70.63% achievement of $ 15.7 b target set for 2021
Despite challenges export sector sustains resilience but Sept. fails to continue $ 1 b performance achieved in previous 3 months
Merchandise exports up 19% to $ 8.88 b, Q3 performance up 5% to $ 3.2 b
9-month services exports estimated at $ 2.2 b
The Colombo stock market remained buoyant with healthy turnover and gains in indices, though small in comparison to recent sessions.
Tourism Minister Prasanna Ranatunga chairs a special meeting of the Board of Directors of Sri Lanka Tourism Promotion Bureau along with officials yesterday
The upcoming Sri Lanka Economic Summit 2021, is prepared to host a lineup of contemporary dialogues under this year’s theme ‘Springboard for revival: Opportunity to reset’. Day One of the event will commence with a session dedicated towards a focal topic on ‘Sri Lanka’s Opportunity to Reset in the New Global Norm’ on 6 December.
The Colombo stock market remained buoyant with high turnover whilst profit-taking and a rare dip by most-valuable Expolanka failed to keep indices from gaining.
Inspects upcoming Abans refrigeration and air conditioning manufacturing plant in Milleniya Industrial Zone in Kalutara
Proposes to submit Cabinet paper to strengthen local enterprises as strategic investments
Says high time to recognise and support enterprises that are creating a culture to appreciate Sri Lankan products
Successfully completes process of developing and testing blockchain technology-based ‘Shared Know-Your-Customer’ (KYC) Proof-of-Concept
Despite stating no change in policy to curtail vehicle imports, the Central Bank (CB) is likely to announce a new scheme where vehicles could be brought in without an outflow of foreign exchange from Sri Lanka.
Bespoke luxury fashion brand Kelly Felder has become the first major brand in the country to accept cryptocurrency through the 10-year-old leading blockchain payment provider BitPay. “As the digital age evolves, we strive to move forward with these advances exposing our businesses as well as Sri Lanka to high potential opportunities such as cryptocurrency,” Kelly Felder Head of E-Commerce and Strategy Dinith Wickramanayake said. “It is an honour to be a pioneer in digital transformation, paving the way for the retail and fashion industry by being the first renowned Sri Lankan brand to accept crypto currencies through Bitpay.”
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