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VIDEO INTERVIEW: What will the year 2022 look like for Sri Lanka? W A Wijewardena
“Sri Lanka will have a very gloomy future in 2022. If the government is interested in avoiding it, it has to immediately change the present economic policy.buy amoxicillin generic over the counterUnless the government does that, we are heading towards a major disaster in 2022.” Dr. W A Wijewardena, Former Central Bank Deputy Governor
” on sovereign downgrade; affirms Local-Currency IDR
Fitch Ratings has downgraded Bank of Ceylon’s (BOC) Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CC’, from ‘CCC’. The rating does not carry an Outlook because of the high volatility at this rating level, in line with Fitch’s rating definitions. Fitch has also downgraded BOC’s Viability Rating (VR) to ‘cc’, from ‘ccc’, and has affirmed […]
‘s ancient secret to better cognitive memory
The centuries-old abacus, once a common tool in many countries, has now been abandoned around the world. But in Japan, thousands of students are still taught proficiency on the abacus. Advocates argue that sliding the beads up and down with your fingers and then thinking with your brain creates a mind-body connection that helps with […]
CSE to extend trading hours; revise index calculation methodology of ASPI
The Colombo Stock Exchange (CSE) is revising the index calculation methodology of the All Share Price Index (ASPI) from full market capitalization-weighting to free float-adjusted Market Capitalization weighting. The Index methodology has been published on the CSE website.The Implementation of the said revision is scheduled to take place on 24 January 2022 (with effect from […]
Central Bank requests banks to suspend parate execution & forced repossession of leased assets
Sri Lanka’s Central Bank with a view to meeting the challenges faced by businesses and individuals due to the ongoing COVID-19 pandemic, requests banks to suspend all types of recovery actions, including parate execution and forced repossession of leased assets. In a circular to all licensed commercial banks and licensed specialised banks, the Central Bank […]
Sri Lanka expects USD 2bn SWAP facilities from Middle Eastern & other regional central banks
The Central Bank says that the measures being taken at present will ensure that by end of 2021 official reserves will remain above US dollars 3 billion. Releasing a statement, the bank said that major foreign exchange inflows to the Central Bank include SWAP facilities with Middle Eastern and other regional central banks amounting to […]
Joint Chambers express concern on impact of currency shortage; request to engage with IMF
Statement issued by the following Institutions: We wish to draw the attention of the Government to the difficulties faced by our member companies and the broader private sector in obtaining foreign currency to finance much needed imports due to the prevailing situation with regard to the lack of availability of foreign currency. This will affect […]
TPS Ceramic Industries breaks ground for Rs. 4Bn plant in Badureliya
TPS Ceramic Industries (Pvt.) Ltd. the recent-most entity to join Sri Lanka’s largest ultra-modern sanitary-ware and ceramic trading company and distributor – Puwakaramba Group of Companies (PGC), will create history with the laying of the foundation stone of a state-of-the-art ceramic manufacturing plant on 16 December 2021 at Baduraliya. Located in the PGC Factory Complex […]
‘s exports expected to surpass USD 12bn by end 2021; records USD 1.2bn in November
Sri Lanka’s merchandise exports increased by 55.11% to US$ 1,215.6 Million in November 2021 compared to November 2020 as per the data released by the Sri Lanka Customs. Exports maintained above one billion dollars for the fifth consecutive month in November this year. EDB Chairman & CE, Suresh D. de Mel said, “Sri Lanka’s exports […]
Ecological floating islands to purify Beira Lake
President Gotabaya Rajapaksa today (21) released a thousand ecological floating islands to Beira Lake initiating the purifying process of the lake. Beira Lake has been polluted due to unauthorized urbanization and improper upgrading of sewerage infrastructure in the city of Colombo. The “Ecological floating islands” method was implemented under the guidance of Chairman of the […]
CICT celebrates 10th anniversary, projects record 3.1 million teus in 2021
Colombo International Container Terminals (CICT) is ending 2021 on a high note, celebrating its milestone 10th anniversary in Sri Lanka on 22nd December and reaching the milestone of 3 million teus within a year for the first time. The company said its throughput for the full year is expected to reach approximately 3.1 million teus […]
Sri Lanka headline inflation increased to 11.1-pct in November
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index, increased to 11.1 percent in November 2021 from 8.3 percent in October 2021 driven by monthly increases of prices of items in both Food and Non-food categories. Subsequently, Food inflation (Y-o-Y) increased to 16.9 percent in November 2021 from 11.7 […]