Economic

Mahindra & Mahindra Financial Services Ltd. (Mahindra Finance), India’s leading Non-Banking Finance Company (NBFC), has entered into a joint venture with Ideal Finance Ltd. (IFL), a fully-owned subsidiary of the leading Sri Lankan conglomerate Ideal Group.

In order to tackle oligopolies and large scale rice millers, the government has introduced ‘Shakthi’ rice to the market by forming rice millers’ co-operative societies.

In an effort to improve data-based policy making,Non-Cabinet Minister of Economic Reforms and Public Distribution Dr. Harsha de Silva yesterday said an Analytics Unit has been established to act as the “brain of the Government”,to find solutions to deal with cost-of-living issues, beyond slapping arbitrary price controls.

The Securities and Exchange Commission of Sri Lanka (SEC) recently filed action before the Fort Magistrate’s Court against four persons for market manipulation, conspiracy to commit market manipulation, and aiding and abetting with respect to the shares of Radiant Gems International PLC (RGEM), listed on the Colombo Stock Exchange during the period 2-29 September 2011.

Mahindra & Mahindra Ltd on Saturday expanded its global footprint with the inauguration of a local automotive assembly plant at Welipenna near Colombo in Sri Lanka.

The Commercial Bank Group has reported operating profit before impairment charges and taxes of Rs. 19.476 billion for the first half of 2019, a 9.45% increase over same period of 2018.

Reuters: Shares fell to their lowest close in nearly two weeks on Monday, as investors waited for more clarity after the main Opposition party named a hard-line former Defence Chief as its presidential candidate, to capitalise on public clamour for a decisive leader.

Reuters: Sri Lankan shares on Friday hit their lowest close in a week as investors remained on the side-lines and sought more clarity after the main opposition party, seeking to capitalise on public clamour for a decisive leader, named a hard-line former defence chief as presidential candidate.

ශ්‍රී ලංකාවේ ප්‍රමුඛතම මූල්‍ය සමාගම වන පීපල්ස් ලීසිං ඇන්ඩ් ෆිනෑන්ස් සමාගම, ශ්‍රී ලංකාවේ ‘වටිනාම හා ප්‍රබලතම සන්නාම’ (Most Valuable & Strongest Brands) ශ්‍රේණිගත කරන Brand Finance Sri Lanka – 2019 හි ශ්‍රී ලංකාවේ විශිෂ්ටතම බැංකු නොවන මූල්‍ය ආයතනය ලෙස අඛණ්ඩව දෙවැනි වරටත් පසුගිය දා ඇගයීමට පාත්‍ර විය. ශ්‍රී ලංකාවේ ‘වටිනාම හා ප්‍රබලතම සන්නාම’ ශ්‍රේණිගත කිරීමේ පුරෝගාමී ආයතනය වන Brand Finance Lanka විසින් වාර්ෂිකව ඉදිරිපත් කරන ‘Brand Finance 100’ ලැයිස්තුව ප්‍රකාශයට පත් කිරීමේ දී, එම ඇගයීම් ප්‍රදානය පසුගිය දා කොළඹ දී සිදු කෙරුණි.

The revenue on tax in arrears to be recovered by Sri Lanka Customs , Inland Revenue Department and Excise department have been ballooned to Rs. 323 .73 billion up to the year 2017, official data showed.

Crystal Martin at Wathupitiwala, employing close to 1,000 sewing machine operators, recently became the 10th factory in Sri Lanka providing free 24/7 doctor services to its workers and their families. They join the company’s Katunayake facility and other innovative factory operators like Ahlers AG, Hela Intimates, Royal Fernwood Porcelain and Service Shoes Lanka, who work with oDoc, Sri Lanka’s pioneer telemedicine company, to solve healthcare problems faced by employees and reduce production delays caused by illness.

Sri Lanka Insurance Corporation (SLIC) has introduced a market penetration strategy by rapidly expanding the delivery network and by launching a range of new niche insurance products, customized products for specific customer segment.

The Analytics Unit of the Ministry of Economic Reforms and Public Distribution is now fully equipped with A group of professionals recently passed out from universities for the collecting and analysing data for decision making in solving critical economic issues.

The functions of Primary Dealer Unit of Pan Asia Banking Corporation PLC (PABC) have been suspended for a period of six months with effect from 10.00 a.m. on 15th August 2019, in order to continue the bond scam investigations being conducted by the Central Bank.

Given the projections of international oil prices, Sri Lanka‟s domestic fuel prices have been adjusted according to the pricing formula at present.

The government is taking on critical issues affecting the country’s economy while providing concessions for the people.

The Government will soon issue Request for Proposals (RFPs) to raise $ 500 million via Samurai bonds, which will be used to bolster reserves and finance debt repayment, Central Bank Governor Dr. Indrajit Coomaraswamy said yesterday.

2030 වන විට ශ්‍රී ලංකාව ඇමරිකානු ඩොලර් බිලියන 3.5 ක විදේශ විනිමය හා තේ නිෂ්පාදනය කිලෝග්‍රෑම් මිලියන 350 ක් ඉලක්ක කර ගෙන ඇතැයි සඳහන් වෙයි