Economic

The Sri Lanka Ports Authority (SLPA) is purchasing three Ships to Store (STS) cranes for the Jaya Container Terminal (JCT) 5 expansion, Minister of Ports, Shipping, and Southern Development Sagala Rathnayaka said.

The listed Debenture Issue of Bogawantalawa Tea Estates plc was not only its debut in the Colombo Stock Exchange but also the recording of a unique fund raiser, especially suited for the plantation sector, company management claimed.

Carmart (Pvt) Ltd, the sole distributor in Sri Lanka for the world-renowned European vehicle brand Peugeot has introduced an attractive and one-of-a-kind offer.

The Central Bank requested licensed banks and Non-Bank Financial Institutions (NBFIs) to reduce interest rates on deposits with effect from April 29, 2019.

CB closely monitoring rates, assures further measures to support economic growth

Bank of Ceylon has decided to raise Rs. 12 billion via a private placement of debentures.

Central Bank Governor Dr. Indrajit Coomaraswamy has backed proposed Amendments to the Monetary Law Act as essential to stop governments making the Central Bank print money, which undermines macroeconomic fundamentals essential to strong growth.

Next Hotel Colombo featuring Kafnu will be opening its doors to visitors both here and overseas in the fourth quarter this year marking the revival of tourism and business in Sri Lanka erasing the bitter memories of Easter terror.

Sri Lanka’s manufacturing activities expanded at a higher rate while services sector recorded a recovery with the expansion in new businesses and business activity last month following the Easter terror set back, Central Bank revealed.

Cash strapped SriLankan Airlines strives to survive in the face of mounting loses by introducing business and brand promotion along with exploitation tactics without resorting to restructural procedueres suggested by the government.

Fantasy Island will become Colombo’s premier family entertainment center located at Waters Edge in Battaramulla.

Government revenue as a proportion of GDP has been on a declining trend and it is inadequate to meet its committed current expenditure and debt servicing costs.

The Board of Investments (BOI) yesterday issued a clarification on import of post-consumer goods for re-export.

Exports bounced back in May, posting a 4% gain from a year earlier and dismal 0.4% growth in April, whilst declining imports helped narrow the country’s trade deficit.

Energy and Business Development Minister Ravi Karunanayake yesterday criticised the Finance Ministry for not releasing Rs. 81 billion due to the Ceylon Electricity Board (CEB) so it could settle dues to the Ceylon Petroleum Corporation (CPC).

Licensed Banks and Non-Bank Financial Institutions (NBFIs) have been directed to bring down interest rates on deposits and lending with retrospective effect from 29 April 2019, Central Bank announced yesterday (Friday 19).

A self- powered housing model for low income households will be devised with the aim of providing best architectural housing structure with the use of maximum daylight for low income households in Sri Lanka.

The Government is set to move a resolution in Parliament next week to alter the limits of the Administrative District of Colombo by the inclusion of the reclaimed area of land known as ‘Port City Colombo’.