Economic

Toyota Lanka (Pvt) Ltd has invigorated the surging SUV market in Sri Lanka by launching a new-generation RAV4 range that delivers advances in styling, performance, handling, economy, comfort and value for money.

Sri Lanka’s trade performance during the first eight months of 2019 recorded an improvement over the previous year, supported by a notable contraction in the growth of imports and a modest growth of exports, Central Bank ,announced yesterday (Friday 11).

Inroads made by fintech will push stakeholders to redraw the roadmap for the banking industry, which would require focus on increasing the agility of banks, improving financial inclusion and accelerate development, an official said.

Sri Lanka’s trade deficit contracted in August 2019 as the decline in imports continued while the dip in exports in the previous month has largely recovered, Central Bank announced on Monday 14.

Sri Lanka Government is mulling to revise the proposed ‘carbon tax’ originally based on a complex criteria including the age of the vehicle, engine capacity, which had no direct connection to the actual use or burning of fuel, official sources confirmed.

SriLankan Engineering, the aircraft Maintenance Repair Overhaulunit (MRO) of SriLankan Airlines, marked another milestone with the commencement of certification of the first B787 aircraft operated by Singapore Airlines to Malé, Maldives. The Airline in the past has provided certifications to various Airbus aircraft of Singapore Airlines in Maldives and this is the first time the National Carrier certified a Boeing 787.

Five out of six forensic audits into alleged Treasury bond scams and transaction of Rs. 2.2 trillion Employees’ Provident Fund (EPF) are nearing completion and those audit reports will be ready by next month, Central Bank (CB) Governor Dr. Indrajit Coomaraswamy said.

ඉන්ධන මිල සූත්‍රයට අනුව මෙවර සිපෙට්කෝ ඉන්ධන මිලෙහි කිසිදු සංශෝධනයක් සිදු වී නොමැත.

Central Bank Governor Dr. Indrajit Coomaraswamy yesterday defended the monetary authority’s decision to impose caps on interest lending rates, insisting that it was an effort aimed at giving a strong tailwind to the economy to grow post-March once the election cycle was over.

Governance and transparency are to be strengthened in 422 State Owned Enterprises (SOEs) as most of these institutions are running at a loss despite this sector’s contribution to GDP being 33 per cent last year.

Bank of Ceylon has written off Rs. 1,169 million capital of loans obtained by s 12,014 customers of the Bank in 2017/2018 period , latest data showed.

The Central Bank of Sri Lanka has taken a number of measures over the past eleven months to ease monetary policy and monetary conditions in view of decelerating growth of credit and monetary aggregates and subdued economic growth, amidst well anchored inflation expectations.

Sri Lanka’s fastest-growing life insurer Softlogic Life has made it to the Forbes ‘Asia’s Best Under A Billion 2019’ list, a business ranking which spotlights Asia’s 200 top-performing listed companies with less than US$1 billion in revenue with consistent top- and bottom-line growth.

Details of a financial fraud of withdrawing cash from National Savings Bank fixed deposits belonging to Postgraduate Institute of Science (PGIS) Peredeniya University have been revealed.

ශ්‍රී ලංකාවේ වඩාත්ම සාර්ථක සහ විශ්වාසදායී දේපල සංවර්ධන ආයතනය වන ප්‍රයිම් සමුහය කොළඹ සහ ඒ අවට සුවපහසු නාගරික ජීවිතයට කැමති සිය පාරිභෝගිකයන් වෙනුවෙන් වර්ෂ 2014 සිට සුපිරි නිවාස සංකීර්ණ 32 ක් නිම කර දී ඇති බව නිවේදනය කරයි.

The Central Bank yesterday decided to keep policy rates unchanged so the previous reduction in rates could filter through to markets and also safeguard against higher inflation during festivity months as well as any fiscal slippage that could be seen as Sri Lanka heads for Presidential Elections next month.

මහ බැංකුකරණය පිළිබඳ වෙනස් ලෙස සිතීම වචනයේ පරිසමාප්ත අර්ථයෙන්ම ඉටු කරමින් අග්නිදිග ආසියානු මහ බැංකු ආයතනයේ දී සියැසන් (SEACEN) සහ අන්තර්ජාතික පියවීම් බැංකුවෙහි (Bank for International Settlements - BIS) උසස් මට්ටමේ සම්මන්ත්‍රණය සහ සියැසන් විධායක කමිටුවේ 18 වැනි රැස්වීම අතිසාර්ථකව කොළඹ දී පැවැත්වීය.

Reuters: Stocks and rupee closed firmer yesterday after presidential frontrunner Gotabaya Rajapaksa, who faced uncertainty over his candidature, filed a nomination early in the day.