Economic
The micro, small and medium industry sector is the worst hit due to the unfortunate incidents of April this year, said President of the Sri Lanka Chamber of Small and Medium Industries (SLCSMI) Rohan de Silva.
Reuters: Sri Lankan shares ended firmer for the third straight session on Tuesday to hit a near one-month closing high on local buying, even as foreign investors continued to pull out funds from equities, while the rupee ended slightly stronger.
Sri Lanka’s currency in circulation and deposits in commercial banks (Reserve money) increased last week compared to the previous week showing signs of reactivating economic activity in the country over two months after Easter terror, Central Bank
The Central Bank of Sri Lanka was awarded with the Presidential Award for Digital Excellence at the launch of the National Digital Roadmap by President Maithripala Sirisena, held in Nelum Pokuna Theatre on June 11, 2019. This was presented to the Central Bank in Recognition of great service rendered paving the way to the digital economy in the country. The event was organized by Sri Lanka Telecom PLC.
The Commercial Bank of Ceylon has been awarded the prestigious title of ‘Best Trade Finance Bank in Sri Lanka’ at the 2019 Asian Banker Transaction Awards that recognise achievements in the competition for market share, product and operational excellence in the financial services industry.
Dialog Axiata PLC, showcased download speeds in excess of 1.4Gbps using a commercial 5G mobile handset, the highest speed that has been achieved via a mobile handset in South East Asia. Mobile 5G services were demonstrated on the 3.6Ghz trial spectrum that the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) allocated for 5G pre-commercial trial.
The Government-directed moratorium on repayment of capital and interest of tourism sector business borrowing from banks has drawn applications worth over Rs. 60 billion by end May, with the final numbers expected to be far higher.
During the year up to June 7, 2019 the Sri Lanka rupee appreciated against the US dollar by 3.6percent. Given the cross currency exchange rate movements, the Sri Lanka rupee appreciated against the pound sterling (3.5percent), Japanese yen (1.7percent), the euro (5.1percent) and the Indian rupee (2.4percent) during this period.
The Attorney General has sought a directive from Chief Justice Jayantha Jayasuriya to indict 10 suspects in connection with the 2015 Treasury bond scam, including the former Governor of the Central Bank Arjuna Mahendran, and his son-in-law Arjun Aloysius, the Office of the Attorney General said in a statement released yesterday.
Lanka Sathosa Limited (LSL) state owned retail store network consisting of 403 outlets currently running at a loss under commerce ministry is set to be revamped with the introduction of sophisticated system, Finance Ministry report revealed.
Central Bank Governor Dr. Indrajit Coomaraswamy yesterday declared that though the Easter Sunday attacks were a setback to the economy, they have not thrown macro fundamentals off-track, nor is there any basis for growth to dip below 3% in 2019.
Reuters: Sri Lankan shares rose for the fourth straight session on Wednesday to hit a more than five-week closing high on local buying, offsetting continued foreign selling in equities, while the rupee ended slightly weaker on dollar demand from importers.
Sri Lanka for small and medium scale entrepreneurs exceeding one million will be getting more financial and credit facilities as well as non-financial support from the treasury to contribute their share towards economic prosperity of the island nation affected by Easter terror.
The International Chamber of Commerce (ICC) Sri Lanka yesterday rang the opening bell for trading at the Colombo Stock Exchange, to mark its 100th anniversary.
HSBC is implementing the bank’s International Student Proposition (ISP) designed to meet the international banking needs of children who are ready to further their higher education overseas.
Sri Lanka’s land mark 350 meter tall lotus tower slated to blossom in 912 days by 2015 following its ground breaking in November 2012 is still to see the light of the day owing to irregularities and embezzlements during the construction process.
SriLankan Airlines achieved the remarkable feat of being named the World’s Most Punctual Airline yet again, with 90.75% of its flights in May 2019 being ‘on-time’ throughout its route network, the company said in a statement yesterday.
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