Economic

While maintaining that the US$ 20 billion export target is still a possibility for this year, Development Strategies and International Trade Ministry said Sri Lanka would likely end the year with US$ 18.5 billion in export earnings.

Sri Lanka’s trade deficit continued to improve during the first half of 2019 with the sustained growth of exports and the notable contraction in the growth of imports.

Peoples Bank, a state owned leading commercial bank is to strengthen its financial stability and effectiveness in its operations.

Sri Lanka’s last major 35 MW Broadlands Hydropower Project with annual generation capacity of 126 GWh is still to see the light of day even after six years of its ground breaking ceremony.

Enterprising young entrepreneurs in Dambulla will be getting an opportunity today and the day after to obtain necessary capital from commercial banks to start new ventures, or to improve existing businesses on the strength of their capabilities without surety.

Sri Lanka’s tourism industry is picking up pace with a marked increase in arrivals which had affected after the Easter Sunday terror attacks on churches and hotels, official sources said.

Sri Lanka best employer brand award winner MVIVO Ltd., an organisation with roots in Europe now brings its expertise, innovation, and knowledge to build modern houses in Sri Lanka.

Sri Lanka’s external sector strengthened further in June 2019 with a marked contraction in the trade deficit while gross official reserves were augmented with the proceeds of the issuances of two international sovereign bonds (ISBs).

Sri Lanka's trade deficit in the first half has contracted by a whopping $ 2.1 billion, thanks to robust exports and decline in imports.

Sri Lanka’s mounting debt declines in the first quarter this year following the prompt debt servicing of the Central Bank, official data showed.

Associated Motorways (Private) Limited, a trailblazers in Sri Lanka’s automotive segment, launched the Yamaha FZ & FZ – S version 3.0 models to the Sri Lankan market at a ceremony held at the Yamaha showroom recently.

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.

The Central Bank will be imposing a cap on lending if the banks and financial institutions fail to reduce high lending rates, Central Bank Governor Indrajit Coomaraswamy tolda media conference on Friday.

Sri Lanka’s headline inflation as measured by the year-on-year change in the National Consumer Price Index (NCPI, 2013=100)1 increased marginally to 2.2 per cent in July 2019 from 2.1 per cent in June 2019, Central Bank announced.

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.

Sri Lanka's budget deficit widened in the first half of 2019 as private credit and imports fell, slashing revenues, Central Bank’s weekly review revealed.

The Committee on Public Enterprises (CoPE) yesterday called for an independent investigation into the losses of SriLankan Airlines, to understand the causes and identify people responsible for the losses and to hold them accountable.

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.