Economic

The Central Bank yesterday denied that it has released any new macroeconomic projections, insisting that it remains true to its expectation that Sri Lanka will grow by 1.5% in 2020 as outlined in the Annual Report, and any adjustments will only be made once first quarter growth numbers are released.

Vallibel Finance reported yet another year of highs despite market turmoil with Revenue amassing to Rs. 9.7 billion in the financial year ending March against the corresponding figure of Rs. 8.7 billion in the previous financial year.

Largest-ever BASEL III, Tier 2 compliant, subordinated debenture in Sri Lanka signifies investor confidence in State Bank

All three terminals at the Colombo Port came to a standstill yesterday, suffering over 50% loss of revenue and productivity, after a coalition of 23 trade unions began an indefinite protest urging the Government to hand over the running of the East Colombo Terminal (ECT) to the Sri Lanka Ports Authority (SLPA).

කොවිඩ් මර්දන ක්‍රියාවලියට අවශ්‍ය පෞද්ගලික ආරක්ෂණ උපකරණ නිෂ්පාදනය කිරීම සඳහා ශ්‍රී ලාංකික ඇඟලුම් කර්මාන්තකරුවන්ට ඇණවුම් ලබාදීමට ඇමරිකා එක්සත් ජනපදය එකඟතාව පළකර ඇත.

To strengthen quality and preserve originality, the Export Development Board (EDB) has kicked-off licencing of ‘Ceylon Spices’ trademark for qualifying producers, processors and exporters of cinnamon, pepper, clove, nutmeg and mace as well as cardamom.

Seylan Bank recorded Profits after Tax of Rs. 1,651 Million for the 6 months ended 30th June 2020 against the Rs. 1,523 Million reported in the corresponding period of 2019 despite of challenging market conditions and COVID 19 impact prevailing in the country.

A potential Government formed by the Sri Lanka Podujana Peramuna (SLPP) would champion a business-friendly environment free from corruption and social ills, National Organiser Basil Rajapaksa said, calling on the business community to join in a “decade of development.”

The Hotels Association of Sri Lanka (THASL) yesterday welcomed the latest update of the UK travel advice on Sri Lanka, noting that it is timely and positive news for the industry. “This is very positive news for our travel industry and very timely. Although we may not see an immediate impact on arrivals as the country is closed for foreign visitors at the moment, it is an endorsement of the great steps taken by the country collectively in handling the virus and builds confidence for future travellers who are interested in visiting the country,” THASL said in a statement.

The Central Bank (CB) says that it was pledging US$1 billion worth of US Treasury Securities to obtain a credit facility of $1 billion.

The Government has announced wide-ranging tax exemptions for the Colombo International Financial Center (CIFC) Mixed Development Project within the upcoming Colombo Port City.

The Central Bank of Sri Lanka (CBSL) on Friday in a statement justified the $ 1 billion equivalent repurchase (repo) facility with the US Federal Reserve.

කොරෝනා ව්‍යාප්තියත් සමග වසා දැමුණු කටුනායක බණ්ඩාරණායක ජාත්‍යන්තර ගුවන් තොටුපොල යළි විවෘත කිරීම දින නියමයක් නොමැතිව කල් දමා තිබෙනවා.

Central Bank has raised $ 100 million via latest issuance of Sri Lanka Development Bonds (SLDBs).

The Central Bank of Sri Lanka (CBSL) on Friday denied Opposition claims that it was pledging US Treasury Securities worth USD 4.5 billion to obtain a credit facility of USD one billion.

COVID-19 has caused an unprecedented Rs. 2.4 billion 1Q pre-tax loss at premier blue chip John Keells Holdings (JKH) which however pointed to signs of a faster than anticipated recovery strong enough to declare an early interim dividend. For the quarter ended 30 June, JKH Group revenue was Rs. 21.60 billion down by 32% from a year earlier.

The Central Bank yesterday said it is discussion with the Reserve Bank of India (RBI) to secure an additional $ 1 billion, under a Special Bilateral Swap Agreement.

The Attorney General has informed that the Draft Circular Instructions issued to the Public Health Inspectors (PHIs) with regard to controlling COVID-19 during elections are contrary to law.