Author: lbostgadmin
Rs.10 per dollar incentive for inward workers’ remittances converted into rupees: CBSL
The Monetary Board of the Central Bank has decided to pay an incentive of Rs. 8.00 per US dollar for workers’ remittances, in addition to the existing incentive of Rs.2.00 under the “Incentive Scheme on Inward Workers’ Remittances”, when such funds are remitted through banks and other internationally accepted formal channels and converted into Sri […]
MY Kalizma – First Superyacht to berth at Port City Colombo Marina
The Port City Colombo Marina welcomed the MY Kalizma – The Classic Superyacht, once owned by Hollywood screen idols Elizabeth Taylor and Richard Burton. The first Superyacht to sail into the Port City Colombo Marina, established Colombo as a calling port in the Indian Ocean with facilities for berthing luxury Superyachts. Pierre Pringiers, Chairman of […]
INSEE Cement signs MOU with Hambantota Port to improve supply chain efficiency
The Hambantota International Port Group (HIPG) today signed an agreement with INSEE Cement, the leading cement manufacturing company in Sri Lanka, to ensure the efficient transfer of raw materials to their factory in Galle, via the Hambantota Port. This will have a positive impact on the operational efficiency. The agreement was signed between Gustavo Navarro, […]
First Capital Treasuries Apprises Stakeholders of Upcoming IPO
One of Sri Lanka’s leading non-bank primary dealers, First Capital Treasuries PLC, a subsidiary of the Janashakthi Group’s First Capital Holdings PLC hosted prospective investors, industry partners, media representatives and members of the public at an investor forum on its upcoming Initial Public Offering (IPO). First Capital Treasuries released the official prospectus for the IPO […]
Mark Surgenor appointed Chief Executive Officer for HSBC Sri Lanka
Mark Surgenor has been appointed as Chief Executive Officer of HSBC Sri Lanka and the Maldives from 1 December 2021. He succeeds Mark Prothero, who retired from HSBC at the end of August. Prior to this new appointment, Mark Surgenor was HSBC’s Group Head of Wealth Management, Wealth & Personal Banking. In that role, Mark […]
VIDEO INTERVIEW: Decision Makers in Sri Lanka – Dr. Sanjiva Weerawarana, Founder & CEO, WSO2
“The real value in the IT industry is not providing services to other countries but creating products that other countries buy and there are many barriers as to why we are not doing enough of that,” says Dr. Sanjiva Weerawarana, Founder & CEO of WSO2. This video interview series will feature leaders who share their […]
CCPI inflation increases to 9.9-pct; annual average rises to 5.3-pct in November
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index, increased to 9.9 percent in November 2021 from 7.6 percent in October 2021. Meanwhile, the CCPI measured on an annual average basis, increased to 5.3 percent in November 2021 from 4.8 percent in October 2021. Inflation was driven by monthly […]
Committee appointed to investigate recent incidents of LPG explosions
President Gotabaya Rajapaksa has appointed a Committee to look into the recent incidents of Liquefied Petroleum Gas (LPG) cylinder fires and explosions that occurred at domestic, commercial, and sales outlets in various parts of the country and to find possible causes of the problem in order to provide immediate solutions to the issue. The Committee […]
What really is a Sovereign Debt Restructuring Process?
This information note explains the sovereign debt restructuring process which is based on a document released by the IMF as the first comprehensive attempt to describe each step of the process. Introduction All sovereign debt workouts are painful — for the debtor country, its citizens, its creditors and its official sector sponsors. If mishandled, a […]
“Dark future looming as foreign reserve drop to USD 1.5Bn, lowest in history” Eran
The opposition alleged in Parliament that foreign reserves have dropped to US 1.5 billion dollars which included the gold reserves of US 300 million dollars. The Govt. did not refute the opposition claim that the available cash reserve was only USD 1.5 billion less than one month’s import payment, lowest in history. He told a […]
‘s Deputy National Security Advisor
Sri Lanka’s High Commissioner to India Milinda Moragoda met with the Deputy National Security Advisor of India Shri Pankaj Saran, on 27 November 2021 at the National Security Council office in New Delhi. Deputy National Security Advisor Saran cordially welcomed High Commissioner Moragoda and had an extensive discussion with him. The discussion between the Deputy […]
Ceylon Chamber of Commerce joins global movement to end gender-based violence
The Ceylon Chamber of Commerce pledges to join the fight to end gender-based violence by joining the global campaign “Orange the World: 16 Days of Activism against Gender-Based Violence’. In Sri Lanka, the first dedicated national survey on violence against women and girls, the Women’s Wellbeing Survey, revealed that two in five women were subjected […]