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New Order issued relaxing certain limitations imposed on outward remittances of foreign exchange
With a view to assist and maintain the financial system stability by minimizing the pressure on the exchange rate and preserving the foreign currency reserve position of the country, the Minister of Finance has issued Orders under Section 22 of the Foreign Exchange Act, No. 12 of 2017 (FEA) since 02.04.2020, to temporarily suspend/limit certain […]
EDB emphasizes dangers of foreign buyers entering Sri Lanka Gem Trade, illegally
The Export Development Board (EDB) Advisory Committee on Gems, Diamonds & Jewellery sector has emphasized the importance of making Sri Lankan Gem & Jewellery traders more competitive and simplifying policy measures during the 7th Advisory Committee Meeting held recently. The renowned China Fort Gem Market located in Beruwala and Rathnapura are considered as bustling marketplaces […]
” Investment, Liquidity Pressures: Fitch
The Sri Lankan government’s debt restructuring plan is likely to reduce investment and liquidity risks for domestic insurers, Fitch Ratings says. Fitch expects pressure on insurers’ investment and capital profiles to ease as the proposed plan will not have direct impact on the local-currency government debt holdings of insurers, banks and non-banking financial institutions. Nonetheless, […]
CFA Society Sri Lanka hosts CEO forum ‘Rebooting Sri Lanka Economy”
A CEO Forum organised by the CFA Society Sri Lanka (CFASSL) was held in Colombo recently with a focus on ‘Rebooting the Sri Lankan Economy – Post-Domestic Debt Optimisation’. The event was attended by regulators, senior government officials, business leaders, and CFA Charterholders. The forum was aimed at fostering a constructive dialogue among regulators and […]
Remembering Amal Sanderatne
July 24, 2023 (LBO) – Amal Sanderatne, CEO and founder of Frontier Research, was a person whose intellect and work I admired. In remembrance, below is a memorable address he gave to LBO’s Debrief summit in 2016.It was always insightful to listen to his analysis and independent, unbaised point of view. Sri Lanka’s financial sector […]
‘s first fuel shipment to arrive in Aug
The first fuel shipment of China’s Sinopec, which signed a contract to enter the Sri Lankan fuel market, will arrive in the country early next month, State Minister of Power and Energy D. V. Chanaka stated. Meanwhile, steps will be taken to replace the fuel price formula with a maximum retail price, thereby creating a […]
Tribute: My Close Association with Merrill J. Fernando
July 20, 2023 (LBO) – By: Ranjit Hulugalle Below are some anecdotes from my close association with Merrill Fernando, especially in the UK between 2000 and 2004. As one gets older, life becomes rather blurred, especially when one has worked for 45 years in three continents and in half a dozen vocations. Sadly I don’t […]
EU, AFD, and World Bank support Strengthening Public Finance Management in Sri Lanka
The Government of Sri Lanka and the World Bank, European Union (EU) and Agence Française de Développement (AFD) have recently signed financing agreements to help strengthen Sri Lanka’s management of public finances. The grant of EUR 9.8 million for Public Finance Management aims to support improving economic governance, transparency, and accountability in how public finances […]
‘s Rice Sector
The Food and Agriculture Organization of the United Nations (FAO), in collaboration with the Department of Agriculture and Mahaweli Authority in Sri Lanka (MASL), is taking crucial steps, supported by funding from the European Union (EU), to address the threat to food security caused by two consecutive seasons of poor harvests in 2021-2022. With a […]
Sri Lanka Insurance expands its presence to Wattegama
Sri Lanka Insurance – opens its Wattegama Agency Business Development Center (ABDC) on the 14th of July at No. 73/C, Kandy Road, Wattegama. The occasion was graced by Mr. Lalith De Silva Head of Distribution – General Insurance, Mr. Jagath Welgama Assistant General Manager/Head of National Sales (Life), the management team of the Sri Lanka […]