Economic

The functions of Primary Dealer Unit of Pan Asia Banking Corporation PLC (PABC) have been suspended for a period of six months with effect from 10.00 a.m. on 15th August 2019, in order to continue the bond scam investigations being conducted by the Central Bank.

Given the projections of international oil prices, Sri Lanka‟s domestic fuel prices have been adjusted according to the pricing formula at present.

It has been estimated a total sum of Rs. 2.2 trillion is required to pay off loan installments and interest for this year.

The Government will soon issue Request for Proposals (RFPs) to raise $ 500 million via Samurai bonds, which will be used to bolster reserves and finance debt repayment, Central Bank Governor Dr. Indrajit Coomaraswamy said yesterday.

2030 වන විට ශ්‍රී ලංකාව ඇමරිකානු ඩොලර් බිලියන 3.5 ක විදේශ විනිමය හා තේ නිෂ්පාදනය කිලෝග්‍රෑම් මිලියන 350 ක් ඉලක්ක කර ගෙන ඇතැයි සඳහන් වෙයි

The much-delayed, scheme of affixing foolproof stickers on legally manufactured liquor bottles gets underway causing a heavy loss to state coffers owing to awarding the tender to an Indian firm at a high price, amidst allegations of malpractices.

In an effort to improve data-based policy making,Non-Cabinet Minister of Economic Reforms and Public Distribution Dr. Harsha de Silva yesterday said an Analytics Unit has been established to act as the “brain of the Government”,to find solutions to deal with cost-of-living issues, beyond slapping arbitrary price controls.

Fuel prices, other than Auto Diesel, were increased with effect from midnight yesterday, the Finance Ministry said.

REUTERS: Sri Lanka could lose access to global debt markets if a new government shifts away from the country’s current fiscal policy that’s aimed at shoring up the economy and managing inflation, a Central Bank official said on Friday.

The Commercial Bank Group has reported operating profit before impairment charges and taxes of Rs. 19.476 billion for the first half of 2019, a 9.45% increase over same period of 2018.

Agriculture Sector Modernization Project is yet achieve expected targets owing to bureaucratic bungling, official statistics revealed.

Sri Lanka ‘s industrial production and plantation sector growth signaled the country’s economic revival with the expansion of broad money supply , credit to the government , currency circulation and the surplus in market liquidity, Central Bank announced

ශ්‍රී ලංකාවේ ප්‍රමුඛතම මූල්‍ය සමාගම වන පීපල්ස් ලීසිං ඇන්ඩ් ෆිනෑන්ස් සමාගම, ශ්‍රී ලංකාවේ ‘වටිනාම හා ප්‍රබලතම සන්නාම’ (Most Valuable & Strongest Brands) ශ්‍රේණිගත කරන Brand Finance Sri Lanka – 2019 හි ශ්‍රී ලංකාවේ විශිෂ්ටතම බැංකු නොවන මූල්‍ය ආයතනය ලෙස අඛණ්ඩව දෙවැනි වරටත් පසුගිය දා ඇගයීමට පාත්‍ර විය. ශ්‍රී ලංකාවේ ‘වටිනාම හා ප්‍රබලතම සන්නාම’ ශ්‍රේණිගත කිරීමේ පුරෝගාමී ආයතනය වන Brand Finance Lanka විසින් වාර්ෂිකව ඉදිරිපත් කරන ‘Brand Finance 100’ ලැයිස්තුව ප්‍රකාශයට පත් කිරීමේ දී, එම ඇගයීම් ප්‍රදානය පසුගිය දා කොළඹ දී සිදු කෙරුණි.

The American Chamber of Commerce in Sri Lanka held a roundtable discussion with Acting Assistant Secretary, Bureau of South and Central Asian Affairs Alice G. Wells, U.S. Ambassador for Sri Lanka and the Maldives Alaina B. Teplitz, and other key officials from the U.S. Embassy and AmCham members.

The Ruhunu Economic Development Corporation (REDC) is emerging as a key area of development activities in the Southern region’s resurgence of the economy in the near future with the enactment of a new law.

Sri Lanka Insurance Corporation (SLIC) has introduced a market penetration strategy by rapidly expanding the delivery network and by launching a range of new niche insurance products, customized products for specific customer segment.

The Colombo Municipal Council (CMC) has introduced a set of guidelines to be followed by all the food deliverers, who are on the rise in the city.

The officials of the Municipality's Health Department had drafted the guideline to food deliverers in line with the Food Act under the guidance of Mayor Rosy Senanayake and the instructions of Chief Medical Officer Dr Ruwan Wijayamuni.

South Asia has a vibrant economies and the region is a major market for Sri Lanka. South Asian countries could benefit by facilitating trade when there are trade restrictions among the countries in the bloc, economists and trade experts said.