Author: lbostgadmin
Indian Exim Bank pledges USD 500mn Credit Line to Sri Lanka for financing oil imports
Export-Import Bank of India has entered into an agreement with Sri Lanka, to support a USD 500 million Credit Line for the purpose of financing purchase of petroleum products from India. Out of the total credit by Exim Bank under the agreement, goods, works, and services of the value of at least 75 percent of […]
Central Bank indicative spot exchange rate surpasses Rs250 per USD
The indicative USD spot exchange rate of the Central Bank has surpassed 250 rupees (251.97 rupees) per dollar on Friday even though they earlier expected forex transactions to take place at levels that are not more than 230 rupees per dollar. Accordingly, the indicative USD spot exchange rate which is the weighted average rate of […]
Bond yields to extend further surge; rate hike expectations for 2022E increased: FCR
In light of the weaker economic conditions, First Capital Research believes that the CBSL will maintain the momentum on tightening policy rates resulting in yields to further surge at an accelerated pace, and expect it to move further over upcoming months. Sri Lanka’s foreign reserves were recorded at USD 2.3Bn in Feb 22 and due […]
New US Ambassador to Sri Lanka calls on Foreign Affairs Minister
The newly appointed U.S. Ambassador to Sri Lanka Julie Chung called on Foreign Affairs Minister G.L. Peiris yesterday, at the Ministry of Foreign Affairs, Colombo. Minister Peiris extended a warm welcome to Ambassador Chung and stated that he looks forward to working closely with her during her tenure in Sri Lanka. Whilst noting that Sri […]
“Cinnamon rainforest restoration project” launched
Cinnamon Hotels & Resorts proudly launched its latest sustainability initiative, “Cinnamon Rainforest Restoration Project”in collaboration with Ruk Rakaganno (The Tree Society of Sri Lanka), Forest Department Sri Lanka and John Keells Foundation, to restore a degraded 50-acre plot over a period of three years after which nature will take over the regeneration process. Natural forest […]
Ceylon Chamber welcomes CBSL move towards a more flexible exchange rate
The Ceylon Chamber of Commerce commends the Governor and his team at Central Bank for permitting greater flexibility in the exchange rate. This action has been proposed by the Ceylon Chamber, on its own and along with other chambers on numerous occasions in the recent past. Hence, the Chamber is pleased to note this announcement […]
Supermarket food prices up 36% in a year: Advocata
Advocata’s Bath Curry Indicator (BCI) , which tracks the monthly changes in the retail price of a select basket of food items, recorded a decrease of 1.5% from January 2022 to February 2022. The overall decrease was driven by the falling prices of beans (40%), green chillies (15%) and brinjals (13%). However, prices on average […]
Breaking the Bias: Celebrating the Women at Samsung
With International Women’s Day taking on greater meaning for many of us this year, Samsung asked their women colleagues of various backgrounds to share what motivates and empowers them to be their best. In sharing everyone’s unique experiences, the overarching lesson we all came to realize is that great ideas can come from anyone, no […]
Data Protection Bill should not be passed until serious concerns are addressed: Transparency International
Transparency International Sri Lanka (TISL) calls on Members of Parliament to not rush through enacting the law until concerns are addressed. On the 9th of March 2022, the Personal Data Protection Bill is scheduled for the second reading in Parliament. This Bill aims to regulate the processing of personal data by identifying and strengthening the […]
Best countries for travel & remote working in 2022: Sri Lanka ranks 2nd in Asia-Pacific
As more people embrace flexible working environments and set their sights on their next ‘workation’ (AKA, a vacation that blends leisure and remote working), KAYAK, the world’s leading travel search engine, reveals the best countries in the world to work remotely from, with Portugal topping the list. Sri Lanka landed in an impressive 2nd place […]
Sri Lanka maintains official reserves at USD 2.3bn in February
Sri Lanka’s official reserve assets were 2.3 billion US dollars (USD 2,314mn) by the end of February, slightly down from 2.3 billion US dollars (USD 2,361mn) in January this year, the latest Central Bank data showed. By the end of February, the foreign currency reserves were 2,025 million dollars while the reserve position in the […]
CBSL allows greater flexibility in exchange rate with immediate effect; not more than Rs 230 per USD
Sri Lanka’s Central Bank says that greater flexibility in the exchange rate will be allowed to the markets with immediate effect. Releasing a statement, the bank said that they are also of the view that forex transactions would take place at levels which are not more than Rs. 230 per US dollar. Full Statement Policy […]