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CSE and CDS revised applicable rules, ensuring consistency with New SEC Act
Pursuant to the enactment of the Securities and Exchange Commission (SEC) of Sri Lanka Act No 19 of 2021 (New SEC Act), the Stockbroker rules of the Colombo Stock Exchange (CSE) and the Central Depository Systems (CDS) have been revised in order to ensure consistency with the said New SEC Act. Accordingly, the following rules […]
Ceylon Chamber advises govt to set transparent processes to facilitate divestiture of non-strategic assets
The Ceylon Chamber advises the government to set in place transparent processes and governance structures that will facilitate the divestiture of non-strategic commercial assets/stakes, as well as encourage investment in strategic assets such as the Hambantota oil refinery. Releasing a statement, the chamber said that it would also complement the IMF’s engagement with the Government […]
Colombo Stock Exchange to extend trading hours from next Monday
The Securities and Exchange Commission of Sri Lanka (SEC) has issued a directive to the Colombo Stock Exchange (CSE) to extend trading hours from next Monday, 10th April 2023. The trading hours are set out below: Pre-open session – 09.00 a.m. to 9.30 a.m. Open Auction – at 9.30 a.m. Regular Trading – will commence […]
Implementation of Timely & Credible Structural Reforms Vital for Sri Lanka to Reset its Course: World Bank
Sri Lanka’s heightened fiscal, external, and financial sector imbalances and its fluid political situation pose significant uncertainty for the country’s economic outlook, says the World Bank in its twice-a-year update, underscoring the need to address the root causes of the country’s economic crisis and build a strong and resilient economy to prevent future crises. Released […]
Fuel quota increased from midnight today
President Ranil Wickremesinghe has directed the government to take steps to increase the existing fuel quota from midnight today (04) for the New Year festive season. As previously planned, the Ceylon Petroleum Corporation has ordered and received the required stocks for the increasing fuel requirement for the festival season. Accordingly, the fuel quota for passenger […]
CBSL maintains policy rates; gross official reserves at USD 2.7bn by end March
The Monetary Board of the Central Bank has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 15.50 per cent and 16.50 per cent, respectively. Having considered the recent and expected economic developments, and macroeconomic projections on domestic and […]
VIDEO: Twitter replaces original logo, high-profile accounts refuse to pay for verification
Twitter replaced its blue bird logo in its app on Monday with an image of the infamous ‘Doge’ meme, of the Dogecoin cryptocurrency. Twitter also announced on Friday that it’s open-sourcing the code behind the recommendation algorithm the platform uses to select the contents of the users’ For You timeline.
Main points of IMF agreement will be passed into law, says President
President Ranil Wickremesinghe announced that the agreement with the International Monetary Fund (IMF) would be presented to Parliament for a vote on whether to support it. Following this, the key points of the agreement would be enacted into law. The President also indicated that the Prevention of Terrorism Bill, the Truth and Reconciliation Commission, and […]
Sri Lanka tourist arrivals up in Feb 2023
Tourist arrivals increased in February 2023 to 107,639, compared to 102,545 arrivals recorded in January 2023 and 96,507 recorded in February 2022, data from the Central Bank of Sri Lanka shows. Russia, India, the United Kingdom, Germany, and France remained the main source countries for tourist arrivals in February 2023. Earnings from tourism in the […]
Dutch companies exploring investment opportunities in renewable energy and sustainable agriculture: Envoy
The Dutch companies are eager to explore investment opportunities in renewable energy, eco-labeling and sustainable agriculture, if Sri Lanka can showcase a corruption free business environment, Her Excellency Bonnie Horbach, Ambassador to the Kingdom of the Netherlands in Sri Lanka stated at a meeting with the leadership of the Ceylon Chamber of Commerce, during Her […]