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‘s request for landing special aircraft in Wuhan city
Jan 30, 2020 (LBO) – Foreign Secretary Ravinatha Aryasinha has said the Chinese Government is expediting the request made for a special aircraft landing in Wuhan City which will allow the evacuation of the Sri Lankan students and their family members. He said the Embassy in Beijing is in communication with the Hubei Foreign Office […]
DFCC Bank wins Top Employer award at CIMA annual conference
Consistently winning recognition and rewards for its visionary and progressive HR strategies, DFCC Bank was recognized yet again as one of the ‘Top 20 Employers in Sri Lanka’, employing the highest number of Chartered Institute of Management Accountant (CIMA)Sri Lanka members in their organization. The gala ceremony was held recently as part of the CIMA […]
Central Bank refrains from commenting on contents of forensic audit reports
Jan 30, 2020 (LBO) – Sri Lanka’s Central Bank on Thursday refrained from commenting on the contents of the forensic audit reports as these reports may be subjected to judicial proceedings in the future. Responding to queries by journalists at the monetary policy press briefing, the Deputy Governor of Central Bank Dr. Nandalal Weerasinghe said […]
Manjula de Silva appointed Sec Gen & CEO of Ceylon Chamber of Commerce
Jan 30, 2020 (LBO) – Manjula de Silva will assume duties as the Secretary-General and CEO of the Ceylon Chamber of Commerce, from February 1st, 2020, the chamber announced. He takes over from Dhara Wijayatilake who retires from that position after serving in that capacity since March 2016. De Silva has held several senior positions […]
Central Bank expects economic growth to exceed 4-pct this year
Jan 30, 2020 (LBO) – Sri Lanka’s economic growth will exceed 4 percent in 2020 as there has been a notable improvement in business confidence caused by political stability and targeted measures taken by authorities to boost demand, the Central Bank Governor said. “Revival in economic activity & confidence, fiscal measures, and credit relief package, […]
VIDEO: US Federal Reserve maintains interest rates in first meeting of 2020
Federal Reserve issues FOMC statement Information received since the Federal Open Market Committee met in December indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have been solid, on average, in recent months, and the unemployment rate has remained low. Although household spending has […]
Current trends may lead to undesirable turnaround in market lending rates
Jan 30, 2020 (LBO) – Market lending rates have adjusted downwards, in response to monetary and regulatory measures taken by the Central Bank, but the pace of reduction has decelerated. The Central Bank said the reduction in lending rates thus far, except for the Average Weighted Prime Lending Rate (AWPR), has been less than envisaged. […]
‘s private sector credit growth picks up in December
Jan 30, 2020 (LBO) – Growth of credit extended to the private sector has picked up in December 2019, on a year-on-year basis, following a continued slowdown since December 2018. Driven by domestic credit expansion, broad money growth (year-on-year) also picked up in December 2019, the Central Bank data showed. However, the absolute expansion in […]
Central Bank of Sri Lanka reduces its policy interest rates by 50 basis points
Jan 30, 2020 (LBO) – Monetary Board of the Central Bank has decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) by 50 basis points to 6.50 percent and 7.50 percent, respectively. Statutory Reserve Ratio (SRR), however, will remain unchanged at 5.00 percent. The board said they arrived […]