Economic

The Colombo Stock Market is gaining more traction as it achieved a new record turnover of Rs. 9.14 billion on top of Rs. 7 billion on Wednesday.

State-imposed temporary import restrictions, to save on foreign exchange, are to be extended for another six months commencing from January 2, informed official sources said. The earlier 6-month period ends on January 2.

The Central Bank (CB) has outlined a slew of regulatory measures for banks including a review of the Banking Act, implementing recovery plans to better manage risk and take forward market-driven consolidation for finance companies in its Road Map 2021 launched yesterday.

Pasan Wanigasekara assumed duties yesterday as Director General of the Board of Investment of Sri Lanka.

The Government yesterday expressed confidence in attracting 1.5 million tourists this year with the opening of the airports in two weeks’ time with due compliance with COVID-19 health and safety guidelines.

The Central Bank has already commenced discussions with international payment service providers, such as PayPal, to enable payment receipt facilities for Sri Lankan residents, Governor of the bank W D Lakshman divulged.

Sri Lankan Airlines yesterday called on the Airline Pilots' Guild (ALPG) to put the ‘country first’, whilst vehemently condemning their untimely and selfish actions.

The Cabinet has approved measures to seek Parliament approval to liberalise a gem mining licence scheme, enabling activity even on leased lands.

Over 500 Ukrainians have so far arrived in Sri Lanka for short holidays with health safety guidelines in place, tourism industry sources told the Daily FT.

The Government on Tuesday ruled out concessions at Bandaranaike International Airport (BIA), despite airlines calling for the same to boost post-COVID traffic and tourism.

Sri Lanka Tourism Chairperson Kimarli Fernando yesterday cleared the air on misconceptions with regards to the pilot project, and called on the industry to work in coordination to implement the guidelines outlined by health authorities.

State Minister of Money, Capital Markets and Public Enterprises Reform Nivard Cabraal has said that according to the Central Bank’s Payment Settlement Department PayHerePayments, DirectPay, WEBXPAY, Xoom, skrill, Payoneer, Earthport and Genie are suitable alternatives to the world famous PayPal.

Twinery, Innovations of the apparel giant, placed among top 28 winners of Annual Clarivate Award

Given the economic recovery Sri Lanka has before it in 2021, the Central Bank yesterday pledged to continue its accommodative monetary policy stance, establish a single digit interest rate and push private sector credit to expand 14% despite an estimated 3.9% growth contraction last year.

The Central Bank had printed a record Rs. 650 billion in 2020 to help manage with the country’s monetary and fiscal challenges.

The benchmark All Share Price Index (ASPI) crossed 7000 points level yesterday for the first time since 24 November 2015 closing the trading day on 7,036.76 points, the Colombo Stock Exchange (CSE) said in a statement.

Parliament is set to approve several regulations under the Strategic Development Projects Act on Thursday to grant a wide range of concessions for the Colombo International Financial Centre Mixed Development Project at the Colombo Port City.

Sri Lanka Telecom (SLT) and SLT Mobitel on Friday (1) created a historic unification of products and services by unveiling their unified brand identity at an event that took place at the SLT Headquarters.