Author: lbostgadmin
SriLankan Airlines launches flights to Paris
SriLankan Airlines unveils flights to the French capital, Paris. SriLankan‛ s new service will operate scheduled flights between Colombo‛s Bandaranaike International Airport (BIA) and France‛s Paris Charles de Gaulle Airport (CDG) from 1st November 2021. Accordingly, SriLankan would commence thrice weekly, non-stop flights to France every Wednesday, Friday, and Saturday using a fleet of Airbus […]
Government must take meaningful steps without compromising international friendship: Eran
With the corona epidemic and mismanagement of the economy, the country is now facing a Trinity of crises which cannot be cured by this government due to its intrinsic nature of mismanagement said Samagi Jana Balawegaya MP Eran Wickramaratne. Addressing a press conference held at the Opposition Leader’s Office in Colombo today, the Member of […]
VIDEO: Modern Monetary Theory
Modern Monetary Theory is something so simple yet so complex all at the same time, it does really involve divorcing your mind from how you personally interact with money to ultimately grasp how cash works at an economy-wide level. A lot of supporters of the theory push it as a cure-all to any economic ailments, […]
UK decides to maintain proscription of LTTE as a terrorist organization
The UK Home Secretary has decided to maintain the proscription of the Liberation Tigers of Tamil Eelam (LTTE) as a terrorist organization under the UK Terrorism Act No. 7 of 2000. The Home Secretary’s decision, which has been taken following the judgement of the Proscribed Organizations Appeals Commission (POAC), rejects the application of a LTTE […]
CA Sri Lanka unveils Board Leadership Masterclass for corporate directors & executives
The Business School of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) together with the Institute of Directors of Luxembourg launched a ground-breaking 21st Century Board Leadership Model Masterclass for the first time in the country. An exclusive training programme aimed at developing skills and strategy of future ready board members, […]
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Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (CB, AA-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to LKR10 billion a final National Long-Term Rating of ‘A(lka)’. The final ratings are the same as the expected ratings assigned on 24 June 2021 (and subsequently affirmed on 3 August 2021) and follow […]
United States to support conservation of historical Kandy monuments
The United States government, through the U.S. Ambassadors Fund for Cultural Preservation (AFCP), has awarded a grant to conserve a 17th century Royal Palace and Archaeology Museum in Kandy. Funding for the project totals over 52 million Sri Lankan rupees ($265,000). Since 2001, AFCP has funded 14 projects in Sri Lanka, including the conservation of […]
Sri Lanka needs new water and sanitation policies to unlock investment barriers
Comprehensive policies will improve community access, increase focus on sanitation and investment A new policy could tackle urbanisation challenges for inclusive and sustainable water and sanitation management It can also open new investment approaches to bridge the large financing gaps as the country prepares to rise above the impact of COVID-19 Meeting Sri Lanka’s rapidly […]
Sri Lanka calls for Request for Proposals for Foreign Currency Term Financing Facility
The Government of Sri Lanka intends to raise Foreign Currency Term Financing Facility (FCTF) denominated in United State Dollars (USD), Euro, Chinese Renminbi (RMB) and Japanese Yen (Yen) in 2021. The FCTF is expected to be raised at a fixed rate or a floating rate with a maturity period of 1 year or more.The proceeds […]
Disease-battered rubber plantations call for govt support to ensure industry’s survival
Sri Lanka’s rubber plantations are potentially on the brink of being wiped out, battered by a fast-spreading leaf disease and the sector could be nearing the ‘point of no-return’, commercial rubber growers claim, requesting for urgent government intervention to address the pressing issue. The crisis, which evokes comparisons with the ‘coffee rust’ blight which wiped […]
Sri Lanka receives USD 787Mn SDR from IMF & USD 150Mn swap from Bangladesh: CBSL
Central Bank on Tuesday officially announced that Sri Lanka received its share of the global SDR allocation by the IMF and the initial disbursements under the bilateral currency swap arrangement between the Central Bank of Sri Lanka and the Bangladesh Bank. The SDR allocation received by Sri Lanka was equivalent to US dollars 787 million […]
Headline inflation increased to 6-pct in August 2021
Headline inflation, as measured by the year-on-year change in the Colombo Consumer Price Index, increased to 6.0 percent in August 2021 from 5.7 percent in July 2021 driven by monthly increases of prices of items in both Food and Non-food categories. Subsequently, Food inflation (Y-o-Y) increased to 11.5 percent in August 2021 from 11.0 percent […]