Economic
The Committee appointed to probe into finance and leasing company irregularities and illegal activities has identified that the activities of this sector mainly revolve around ten main areas.
These areas included problems related to the recovery of possession of equipment, abuse of the terms and conditions in the finance lease agreements entered into Communications Department between the lessor and the lessee, as well as certain loopholes in the provisions of the Finance Leasing Act, No. 56 of 2000.
The Colombo stock market saw welcome rebound though less convincing but turnover remained healthy at over Rs. 1 billion amidst net foreign selling.
බැංකු හෝ වෙනත් මුල්ය ආයතනවල තැන්පතු සම්බන්ධයෙන් පූර්ණ වගකීමක් ශී්ර ලංකා මහ බැංකුවට නොමැති බව එහි සහකාර අධිපති ජනක කරුණාරත්න පවසනවා.
One of the leading media giants in the world, the BBC recently extended its valuable support to Sri Lanka Tourism during the challenging time of COVID-19 by entering into a no-cost partnership with the Sri Lanka Tourism Promotion Bureau (SLTPB) through a comprehensive advertising campaign.
Fiscal operations of the Government in the first four months of this year have showed a mixed performance even before the impact of COVID-19, though the Treasury attributes this to the decline in revenue mobilisation stemming from the outbreak in mid-March 2020 and the reduction of Government expenditure.
Zero tourists for three consecutive months, owing to the COVID-19 shutdown, has forced first half cumulative tourist arrival numbers to reflect a drastic 50% plunge to 507,311. Sri Lanka Tourism Development Authority (SLTDA) data depicted the dismal “0” for tourist arrivals in the months of April, May and June.
The Colombo stock market remained positive for the second consecutive day amidst improved turnover.
The 59th anniversary of People’s Bank was celebrated on 1 July, and to mark this occasion a special ceremony was organised at Marandagahamula Branch where 59 ‘Aswenna’ as well as 59 ‘Saubagya’ COVID-19 loans were granted to customers of the branch.
The Export Development Board (EDB) opines the recent downgrading of Sri Lanka to a lower-middle income country by the World Bank could be a blessing in disguise to secure preferential access to key
The recently approved amendments to the listing rules of the Colombo Stock Exchange (CSE) by the Securities and Exchange Commission of Sri Lanka (SEC) will enable shareholders to receive dividends declared by listed companies much faster.
The Colombo stock market began the month of July with bearish sentiment though turnover was above Rs. 1 billion mark whilst foreigner selling continued.
මූල්ය සහ ලීසිං සමාගම්වල සිදු වූ අක්රමිකතා සම්බන්ධයෙන් සොයා බැලීම සඳහා පත්කළ ති්රපුද්ගල කමිටුවේ වාර්තාව අද (07) මහබැංකු අධිපති මහාචාර්ය ඩබ්ලිව්. ඞී. ලක්ෂ්මන් වෙත භාරදීමට නියමිතව තිබෙනවා.
The Central Bank yesterday said it has approved more than Rs. 53 billion worth of working capital loans to more than 20,000 businesses at a concessional rate of 4% per annum as part of its efforts to help COVID-19 affected companies under a Rs. 150 billion support scheme.
The Export Development Board (EDB) has stepped up its support for organic exports, initiating a funding scheme for growers and processors.
Largest private sector player in the industry, Commercial Bank’s support by way of moratorium for COVID-19-hit customers has topped the Rs. 300 billion mark, in addition to extending short and medium financial assistance to SMEs and exporters.
The Central Bank yesterday clarified banks receiving foreign funds for Special Deposit Accounts have to follow anti-money laundering and anti-terrorism regulations and would be maintained in line with existing laws and regulations.
The largest private sector bank, Commercial Bank is going for a $ 50 million (over Rs. 9 billion) private placement with the World Bank’s IFC to boost capital in support of business expansion.
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