Economic

The now defunct The Finance Company (TFC) is still to submit an acceptable investment proposal for the consideration of the Central Bank enabling it to withdraw the notice of cancelation of its licence to operate as a non bank financial institution.

In a bid to create a buffer stock for the upcoming December and April festive seasons, Litro Gas has begun the purchase of over 200,000 LPG cylinders worth close to Rs. 1.7 billion, with officials giving assurances of the transparency of the transaction, which was approved just days before the Presidential Election.

Reuters: Shares closed lower on Friday, slipping from a more than one-year high hit earlier in the week, while the rupee ended weaker as investors awaited the newly elected leader’s economic policies.

ජනාධිපති ගෝඨාභය රාජපක්ෂ මහතා යටතේ සංචාරක කර්මාන්තය පුනර්ජීවනයක් ඇති කිරීම පිළිබඳ පෞද්ගලික අංශය සුබවාදී අපේක්ෂා පළ කරයි. සංචාරක කර්මාන්තයේ ශක්තිමත් වර්ධනයක් ඇති කර ගැනීම සඳහා මූලික ගැටලු විසඳීම සඳහා කඩිනම් ක්‍රියාමාර්ගයනට අවතීර්ණ විය යුතු බවද සංචාරක සංගම් අවධාරණය කරයි.

කොටස් මිල දර්ශකය ඉහළට

උද්ධමනය හෙවත් බඩු මිල ඉහළ යාමේ වේගය ඉකුත් ඔක්තෝම්බර් මාසයේදී 5.6% ක් වූ බව ජනලේඛන හා සංඛ්‍යාලේඛන දෙපාර්තමේන්තුව පවසනවා.

NDB Wealth Management, the largest asset management firm in Sri Lanka with over Rs. 100 billion in total Assets Under Management (AUM), over Rs. 74 billion in private portfolio and more than Rs. 31 billon in Unit Trusts or Mutual Funds, is the leading unit trust management firm in the country.

Sri Lanka telecom employees have urged the new administration headed by President Gotabya Rajapaksa to remove forthwith SLT Board of directors headed by Chairman Kumarsinghe Sirisena who was responsible for the down fall of the state owned telecom giant.

National Savings Bank (NSB) has won two Grand Awards for its 2018 Annual Report at the International ARC Awards – the world’s largest Annual Report Competition – in which the winners are selected for several categories for making awards. This year NSB has also won two Gold, one Silver and three Bronze awards.

Reuters: Shares recovered yesterday from a more than one-week closing low in the previous session, as investors picked up beverage and manufacturing shares.

Sri Lanka has undergone a financial beating, leaving the country’s banking sector in an insecure position although some of the leading commercial banks have found a balance between risk and growth, official sources disclosed.

The Central Bank says the domestic foreign exchange market, as well as debt and equity markets have responded positively to the outcome of the election and the assumption of duties by President Gotabaya Rajapaksa and ongoing key appointments.

එළඹෙන උත්සව සමයේදී ඇති විය හැකි බවට මත පළ වන ලොකු ලූනු හිඟය පිළිබඳව වහාම අවධානය යොමු කරන බව කෘෂිකර්ම, ආහාර සුරක්‍ෂිතතා සහ පාරිභෝගික සුබසාධන අමාත්‍ය චමල් රාජපක්‍ෂ පවසනවා.

Sri Lanka’s Central Bank warns public that it has received information regarding several types of financial frauds and scams being operated through social media, and Internet-based applications.

ශ්‍රී ලංකාවේ ප්‍රමුඛතම මූල්‍ය සමාගමක් වන සොෆ්ට්ලොජික් ෆයිනෑන්ස් ආයතනයේ නව සභාපතිවරයා ලෙස එරන් රසල් ඬේවිසන් මහතා පත්කර ඇත. මෙතෙක් සොෆ්ට්ලොජික් ෆයිනෑන්ස් ආයතනයේ සභාපතිධුරය දැරූ අශෝක් පතිරගේ මහතා මහ බැංකු නියාමනයට අනුව තනතුර දැරිය හැකි උපරිම කාල සීමාව වන වසර නවයක සේවා කාලය සම්පූර්ණ කිරීමෙන් පසු ඇති වූ පුරප්පාඩුව සඳහා එම මහතා මෙසේ පත්කර තිබේ.

Prime Minister Mahinda Rajapaksa yesterday assured policy consistency, competent leadership and economic stimulus to turnaround Sri Lanka’s economy in the shortest possible time, when assuming duties as the Finance Minister.

Prima Ceylon Ltd. stated that, as the newly-elected President of Sri Lanka is making the best effort to bring the Sri Lankan economy back on to a strong recovery path, whilst addressing many challenges, it will assist the President’s endeavours by withdrawing the recent price increase.

The medicinal drug procurement process of the Health Ministry’s Medical Supplies Division has been tainted with irregularities, government audit inspection discovered recently.