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FCR recommends investors hold on to equity allocation & begin exiting beyond 8,000
Considering the fact that the market has already reached the 7,500 range, First Capital Research (FCR) recommends investors hold on to the equity allocation and begin exiting beyond 8,000. “Despite the significant risk in the system due to the uncertain economic environment, the higher liquidity in the system, and cheaper valuations due to healthy earnings, […]
Steps to expedite development activities powered by USAID grants
Steps have been taken to accelerate the United States Agency for International Development (USAID) funded development projects in Sri Lanka. This was discussed at a meeting held between President Gotabaya Rajapaksa and the Director of the USAID Sri Lanka Office, Reed J. Aeschliman, at the Presidential Secretariat this afternoon (07). A number of development activities […]
PUCSL approves second 300MW natural gas-fired combined cycle power plant
The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator, granted its approval for the 2nd Re-gasified Liquid Natural Gas-fired Combined Cycle power plant to be tendered to build in Kerawalapitiya, during the emergency meeting held on 04th June 2021. “In May, the Ceylon Electricity Board requested PUCSL to tender this power plant […]
Central Bank requests banks to carry out essential banking services adhering to guidelines
Sri Lanka’s Central Bank requests banks to carry out essential banking services, strictly adhering to guidelines issued in providing banking services under the ongoing travel restrictions. Accordingly, all licensed banks shall make necessary arrangements to provide uninterrupted banking services complying with the following: (i) Opening of bank branches only to provide essential services such as […]
Central Bank invites private sector to raise offshore funding; zero-cost swap facility available
Sri Lanka’s Central Bank with a view of encouraging foreign currency inflows to the country, invites the private sector to pursue avenues to raise offshore funding leveraging on its strengths, with the consent of the Finance Minister and in line with provisions of the Foreign Exchange Act. In this regard, to hedge the foreign exchange […]
Sri Lanka Investment Forum 2021 kicks off
Sri Lanka Investment Forum 2021 was inaugurated this morning by His Excellency the President Gotabaya Rajapakse on a virtual platform. Today’s proceedings also featured keynote addresses by Ali Sabry Minister of Justice, Ajith Nivard Cabraal, State Minister for Money and Capital Markets and State Enterprise Reform, Dr.P.B. Jayasundera, Secretary to the President, Sanjaya Mohottala Chairman […]
Mitigating Sri Lanka’s COVID-19 Education Crisis: Priority Areas for Action
By Ashani Abayasekara and Thisali de Silva The year 2020 saw close to 1.6 billion students from over 180 countries being kept out of schools for extended periods of time, in response to the COVID-19 pandemic. Despite commendable efforts by many countries to put in place alternative remote learning strategies and corrective measures, learning losses […]
New sticker system for vehicles entering Colombo from today
The Sri Lanka Police will from today introduce a more efficient sticker system to ensure those carrying out essential services can enter Colombo City amidst travel restrictions. Police spokesperson DIG Ajith Rohana says 11 stickers have been introduced for specific sectors, with green for health services, light blue for tri-forces and police, purple for private […]
DSI enjoins infringer for sale of lookalike products
An action was filed by D. Samson & Sons (Private) Limited, through its legal representatives, Sudath Perera Associates for the infringement of its trademark in the Commercial High Court Of Colombo recently. Court issued an Enjoining order against Udawatta Durage Lalith, restraining him, his employees, agents, workers and clients and anyone claiming under him, directly […]
Our vision is to make Port City a key service hub in the region: President at SL Investment Forum
Sri Lanka has ambitious plans to double the national output from its current level to 8,000 dollars GDP per capita by 2030 and the country is also deeply committed to maintaining policy stability and consistency within a stable macroeconomic environment, President Gotabaya Rajapaksa said. Addressing the inauguration of the Sri Lanka Investment Forum 2021, he […]