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Central Bank issues new rules on repatriation of export proceeds into Sri Lanka
The Monetary Board of the Central Bank has issued new rules in respect of the receipt of export proceeds into Sri Lanka and the conversion of such export proceeds into Sri Lanka rupees.
Indian Exim Bank pledges USD 500mn Credit Line to Sri Lanka for financing oil imports
Export-Import Bank of India has entered into an agreement with Sri Lanka, to support a USD 500 million Credit Line for the purpose of financing purchase of petroleum products from India. Out of the total credit by Exim Bank under the agreement, goods, works, and services of the value of at least 75 percent of […]
Central Bank indicative spot exchange rate surpasses Rs250 per USD
The indicative USD spot exchange rate of the Central Bank has surpassed 250 rupees (251.97 rupees) per dollar on Friday even though they earlier expected forex transactions to take place at levels that are not more than 230 rupees per dollar. Accordingly, the indicative USD spot exchange rate which is the weighted average rate of […]
Will continuously support Sri Lanka’s development: ADB President
Asian Development Bank (ADB) President Masatsugu Asakawa and Sri Lanka President Gotabaya Rajapaksa met Thursday (10th) in Colombo and it was reaffirmed by the Bank leadership that it would continue to support the islands recovery path from the coronavirus disease (COVID-19) pandemic. Asakawa commended the government’s rapid vaccination drive, which has been critical to […]
Bond yields to extend further surge; rate hike expectations for 2022E increased: FCR
In light of the weaker economic conditions, First Capital Research believes that the CBSL will maintain the momentum on tightening policy rates resulting in yields to further surge at an accelerated pace, and expect it to move further over upcoming months. Sri Lanka’s foreign reserves were recorded at USD 2.3Bn in Feb 22 and due […]
New US Ambassador to Sri Lanka calls on Foreign Affairs Minister
The newly appointed U.S. Ambassador to Sri Lanka Julie Chung called on Foreign Affairs Minister G.L. Peiris yesterday, at the Ministry of Foreign Affairs, Colombo. Minister Peiris extended a warm welcome to Ambassador Chung and stated that he looks forward to working closely with her during her tenure in Sri Lanka. Whilst noting that Sri […]
“Cinnamon rainforest restoration project” launched
Cinnamon Hotels & Resorts proudly launched its latest sustainability initiative, “Cinnamon Rainforest Restoration Project”in collaboration with Ruk Rakaganno (The Tree Society of Sri Lanka), Forest Department Sri Lanka and John Keells Foundation, to restore a degraded 50-acre plot over a period of three years after which nature will take over the regeneration process. Natural forest […]
Ceylon Chamber welcomes CBSL move towards a more flexible exchange rate
The Ceylon Chamber of Commerce commends the Governor and his team at Central Bank for permitting greater flexibility in the exchange rate. This action has been proposed by the Ceylon Chamber, on its own and along with other chambers on numerous occasions in the recent past. Hence, the Chamber is pleased to note this announcement […]
Supermarket food prices up 36% in a year: Advocata
Advocata’s Bath Curry Indicator (BCI) , which tracks the monthly changes in the retail price of a select basket of food items, recorded a decrease of 1.5% from January 2022 to February 2022. The overall decrease was driven by the falling prices of beans (40%), green chillies (15%) and brinjals (13%). However, prices on average […]
Breaking the Bias: Celebrating the Women at Samsung
With International Women’s Day taking on greater meaning for many of us this year, Samsung asked their women colleagues of various backgrounds to share what motivates and empowers them to be their best. In sharing everyone’s unique experiences, the overarching lesson we all came to realize is that great ideas can come from anyone, no […]