Author: lbostgadmin
Export Advisory Committees appointed covering 24 sectors for 5 years
Export Advisory Committees have been appointed by the trade minister covering 24 sectors for a period of 5 years (from 2021 to 2026). In terms of Section 10 of the Sri Lanka Export Development Board (EDB) Act No 40 of 1979, the minister in charge of the EDB, on the advice of the Board, is […]
COVID-19 and the Sri Lankan Economy: Policy Choices and Trade-offs
By Chathurrdhika Yogarajah: Sri Lanka’s macro-economic outlook amidst the COVID-19 pandemic came under the spotlight at a webinar panel discussion held on October 11, to mark the release of IPS’ flagship report, ‘Sri Lanka: State of the Economy 2021’. The event featured presentations by Dr Dushni Weerakoon and Dr Asanka Wijesinghe from IPS with expert […]
New Circular on issuing mining, transportation & trade permits for metals, sand, soil, gravel & clay
A new Circular will be issued to give effect to the process of issuance of permits for mining, transportation and trade of metals, sand, soil, gravel and clay.The President appointed a Presidential Task Force to study the exploitation of Geological resources for development, priorities and self-employment and to meet micro level economic livelihood needs of […]
”; Removes Negative Watch
Fitch Ratings has downgraded Bimputh Finance PLC’s National Long-Term Rating to ‘CC(lka)’ from ‘B-(lka)’. The rating has been removed from Rating Watch Negative. The downgrade reflects Fitch’s view that Bimputh’s liquidity and refinancing risk has risen significantly, driven by a persistent decline in asset quality, while it faces further delays in restoring its regulatory capital […]
USAID’s Private Sector Development project signs MOU with HNB to expand financing to MSMEs
The U.S. Agency for International Development’s (USAID) Private Sector Development project signed a Memorandum of Understanding (MOU) with Hatton National Bank PLC (HNB) to expand financing to micro, small, and medium enterprises (MSMEs) in Sri Lanka. “Partnerships like this can dramatically enhance economic and social impact more than any of us could achieve on our […]
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 […]
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 […]
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).
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 […]
First Capital’s ‘Performance First’ culture now certified by great place to work
The ‘Performance First’ work ethic embraced by First Capital Holdings PLC, a Janashakthi Group Company, received industry validation recently as it was certified as a great workplace by the independent analysts at Great Place to Work® in Sri Lanka. First Capital employees engaged in a multi-faceted anonymous survey conducted by Great Place to Work® on […]