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CBSL maintains policy rates; near term supply side developments do not warrant policy tightening
The Monetary Board 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 5.00 percent and 6.00 percent, respectively. The Board said it arrived at this decision after considering the macroeconomic conditions and expected developments on the domestic and […]
Sri Lanka remains committed to principles and goals of the Non-Aligned movement – State Minister Balasuriya
State Minister Tharaka Balasuriya represented Sri Lanka at the Commemorative High-Level Meeting on the occasion of the 60th anniversary of the Non-Aligned Movement Speaking at the summit State Minister Balasuriya stated that Sri Lanka reiterates its firm commitment to the principles and goals of the NAM and pledge support for its noble endeavours to secure […]
Swarnamahal Financial Services to resume business for 6 months for limited purpose
The Monetary Board of the Central Bank has made an order permitting Swarnamahal Financial Services PLC (SFSP) to resume business for a limited period of six (06) months with effect from 13.10.2021, for the purpose of exploring the possibility of absorbing the Company to the “Master Plan for Consolidation of Non-Bank Financial Institutions Sector”. The […]
Central Bank may consider maintaining policy stance: First Capital Research
First Capital Research believes that the Central Bank may consider maintaining the same policy stance in this policy review but given the considerable improvement in high-frequency indicators to prevent an overheating of the economy, there is a considerably high probability that CBSL may hike its policy rates. “We believe that there is a significant probability […]
Sri Lanka 2022 budget appropriation bill initial observations: ICRA
Key takeaways § Decline in total expenditure is achieved at the expense of the capital spending § Capital heavy ministries take capex cuts while personnel heavy ministries get a boost for recurrent expenditure § Allocation of defense and security related SUs is strengthened § Overall health related allocation is increased by nearly LKR 7 Bn § Total expenditure allocation on […]
NDB Brand Ambassador Dimuth Karunaratne Surprises the New vKYC Customers
In an effort to bring in some excitement to the lives of the customers of NDB Bank during these uncertain times, Dimuth Karunaratne – Sri Lanka Test Cricket Captain and the Bank’s Brand Ambassador personally joined with NDB to conduct the video Know-Your-Customer verification process for customers. Accordingly, Karunaratne made a surprise appearance in the […]
Jeevan Thiagarajah appointed Northern Province Governor
Former member of the Election Commission, Jeevan Thiagarajah has been appointed as the Governor of the Northern Province, the President’s Media Division said. Thiagarajah took his oaths as the Governor of Northern Province before President Gotabaya Rajapaksa at the Presidential Secretariat today (11).
Video Interview: Women in leadership – Sonali Dharmawardene
Continuing with our women in leadership interview series, this month LBO is featuring Sonali Dharmawardene, a very sucessful fashion designer and entrepreuner in Sri Lanka who has pushed boundaries and found balance to rise to the top of her industry. Sonali has taken one of the oldest Sri Lankan Artisan Crafts and put her own […]
Baurs share short term solutions for Sri Lanka’s organic agriculture conversion
A. Baur & Co. (Pvt.) Ltd., widely known as Baurs, a diversified business group and one of the pioneering innovators in agriculture in Sri Lanka, recently shared preliminary key insights and solutions for the country’s farming industry to successfully master the conversion from conventional to organic, backed by scientific evidence and sound knowledge drawing from […]
‘s reserves down to USD 2.6bn in September; YTD rupee depreciation 8.2-pct
Sri Lanka’s official reserves were 2.6 billion US dollars (USD 2,581.3mn) by the end of September, down from 3.5 billion US dollars in August, the latest Central Bank data showed. By the end of September, the foreign currency reserves were 2,006.4 million dollars while the reserve position in the IMF was 67.4 million dollars. Special […]