Author: lbostgadmin
‘s Central Bank simplifies foreign exchange regulations
Sri Lanka’s Central Bank has revised regulations issued under the Foreign Exchange Act, No. 12 of 2017 (FEA) for further simplification and clarity improvement. The move expects to achieve greater efficiency in the conduct of cross-border foreign exchange transactions alongside further facilitating economic activities of the stakeholders through greater convenience of doing business. The revised […]
Sarvodaya Development Finance embraces digitalization with Finetech Consultancy
During the recent global pandemic and ensuing lockdown periods businesses realized the importance of digitalization and embracing digital platforms to better serve their customers. As the world moves into the post-pandemic “new normal”, consumers themselves are looking for smarter, more efficient and convenient ways to go about their lives. Understanding this new paradigm shift is […]
VIDEO: India struggles to cope with Covid surge; Canada bans flights from India, Pakistan
India recorded a global record of 314,835 infections on Thursday, while deaths rose by 2,104, bringing its death toll to 184,657, according to the country’s Health Ministry. Mass cremations have begun in India as coronavirus deaths in the capital of New Delhi soar. Meanwhile, Canada is banning passenger flights from India and Pakistan for 30 […]
Importation of chemical fertilizers will soon be stopped completely, says President
President Gotabaya Rajapaksa stressed that the importation of chemical fertilizers will be completely stopped in the near future. The usage of chemical fertilizers leads to a better harvest. However, the negative consequences caused on human lives through pollution of lakes, canals and groundwater due to the chemical fertilizers outweigh the profit. The health sector has […]
Opinion: Port City, Better economic governance, not giveaways should be focus of new governance zone
Deng Xiaoping China’s great reform leader, faced a serious problem in the 1970s. Thousands of young Chinese were crossing to Hong Kong risking their lives. Rather than cracking down on the migrants, Deng sought to understand why they were migrating. Clearly the economic opportunities in Hong Kong were greater than in mainland China. Deng was […]
SriLankan Airlines launches flights to Nairobi
SriLankan Airlines will commence flight operations to Nairobi in Kenya, its second destination in East Africa after flying to the Seychelles. Scheduled flights would commence today (22nd April 2021) between Bandaranaike International Airport (BIA) and Jomo Kenyatta International Airport (NBO), East Africa’s largest and busiest airport. Accordingly, SriLankan Airlines would commence its flights to Nairobi […]
Standard Chartered Sri Lanka gets AAA(lka) Fitch Rating with Stable Outlook
Standard Chartered Sri Lanka’s National Long-Term Rating has once again been affirmed at ‘AAA(lka)’ by Fitch Ratings Lanka with a Stable Outlook. According to a statement by Fitch Ratings, the Bank’s support-driven credit profile is among the strongest in the country’s rated entities, and as a result, the rating is at the highest end of […]
Manik Sooriyaarachchi Scholarship for Female Entrepreneurs
The Australian High Commission would like to announce the launch of the Manik Sooriyaarachchi Scholarship for Female Entrepreneurs. This Scholarship has been established to commemorate Manik Sooriyaarachchi, who tragically died, along with her daughter Alexandria, in the 2019 Easter bombings. Manik was an Australian citizen and an alumna from the University of Swinburne in Melbourne. […]
EFL 3PL becomes Sri Lanka’s first Carbon Neutral logistics company
Sri Lanka’s largest logistics solutions company, EFL’s five-year march towards achieving a more sustainable operational model culminates in its certification as ‘Carbon Neutral’ as of 1st April 2021. The company’s achievement remains the culmination of a series of systematic initiatives implemented since 2016, which looked to transform its business into a far more efficient and […]
‘s headline inflation increased to 5.1-pct in March
Headline inflation as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index has been increased to 5.1 percent in March 2021 from 4.2 percent in February 2021 due to the statistical effect of the low base prevailed in March 2020. Food inflation (Y-o-Y) increased to 8.8 percent in March 2021 from 6.9 […]
Minor structural damage to SriLankan Airlines flight UL116 at Malé International Airport
SriLankan Airlines flight UL116, which was parked at the Malé International Airport has been damaged when a ground support vehicle collided with the aircraft. The airline said in a statement that minor structural damage occurred to the tail section (stabilizer) of the aircraft due to this incident. The SriLankan Engineering team based at the Malé […]
CBSL introduces priority sector lending target on credit granted by banks to MSME sector
Sri Lanka’s Central Bank has introduced a priority sector lending target on credit granted by banks to individuals and businesses in the Micro, Small, and Medium Enterprises (MSME) sector. Accordingly, banks shall grant credit to the MSME sector and ensure a growth rate of not less than 20 percent per annum on a Y-o-Y basis, […]