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Advocata Institute launches tool to track everyday food price changes
Advocata’s latest policy product tracks the average retail prices of a basket of goods and provides an indication of how much prices have changed over time. With the use of such tools, anyone including policymakers and politicians alike has access to track price fluctuations. This could enable anyone to see if policies have direct or […]
Optimism among Swedish companies doing business with Sri Lanka
Growth over the past five years, negative development in 2020 and optimism for 2021. These are some of the key takeaways from the Sweden-Sri Lanka Business Council’s membership survey for 2021. Among the members’ most prioritized issues are simplified visa rules to Sri Lanka and to Sweden, increased attention for Sri Lanka from the Swedish […]
LECO consumers to get interest for security deposits of electricity
The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator together with Lanka Electricity Company Private Limited (LECO) yesterday launched an interest pay scheme for security deposits of electricity for LECO consumers at the BMICH. Payment of interest on electricity consumer deposits is a benefit provided to the consumer under Section 28 of […]
‘s gross official reserves estimated at USD 4.1bn at end March 2021
Sri Lanka’s gross official reserves were estimated at US dollars 4.1 billion (excluding the swap facility with the PBOC), with an import cover of 3 months, at the end-March 2021, the Central Bank said. Recently, the Central Bank entered into a bilateral currency swap arrangement with the People’s Bank of China (PBOC) amounting to CNY […]
Central Bank continues its accommodative monetary policy stance
The Monetary Board of the Central Bank has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) at their current levels of 4.50 percent and 5.50 percent, respectively. The Board has arrived at this decision after carefully considering the macroeconomic conditions and expected developments on the domestic and […]
”; Outlook stable
Fitch Ratings has affirmed Sri Lanka-based consumer and healthcare company Hemas Holdings PLC’s National Long-Term Rating at ‘AAA(lka)’ with a Stable Outlook. The affirmation reflects the defensive nature of Hemas’ operating cash flows stemming from its pharmaceutical trading and manufacturing, and fast-moving consumer goods (FMCG) businesses, which account for more than 90% of the group’s […]
John Keells Logistics: Making It Happen for the Customer
As a leading third-party supply chain solutions provider in Sri Lanka, John Keells Logistics (JKLL) has been renowned for its customer centric approach since its inception back in 2006. As an entity that serves numerous customers from diverse industries, recognizing the importance of being customer-centric has been a crucial aspect in the success story of […]
NEM Construction receives record consignment from Udeshi Group
UTRAX®, the construction equipment division of the Udeshi Group, has successfully completed the handover of the country’s single largest order of hydraulic excavators to date, in turn contributing significantly to Sri Lanka’s fast-expanding infrastructure development efforts. The island’s leading commercial and industrial equipment supplier and exclusive distributor of Sumitomo excavators in Sri Lanka, officially handed […]
Entry requirement for Sri Lankans lifted
Under the directive of President Gotabaya Rajapaksa, the Foreign Ministry reviewed the entry procedure today, 06 April 2021, as a measure of relief for prospective Lankan returnees. Under the new procedure, Sri Lankans, dual citizens who travel on Sri Lankan passports, spouses and unmarried children of Sri Lankans, who are foreigners, and Sri Lankan seafarers arriving by […]
From mine to market – showcasing Sri Lanka’s jewellery legacy to the world
The Sri Lanka Gem and Jewellery Association (SLGJA) hosted their second Key Person’s Forum for the industry recently, with the objective of facilitating the industry during this pandemic period and boosting overall tourism in collaboration with the Ministry of Tourism. The forum was conducted with Prasanna Ranatunga, State Minister of Tourism, Lohan Ratwatte, State Minister […]
‘Bath Curry Indicator’ by Advocata Institute will be launched tomorrow
Food inflation has risen over the last year, although the overall inflation is low. According to the National Consumer Price Index, overall prices rose by 3.7% between January 2020 and January 2021, but food inflation rose by 5.9%. While this is a matter of concern to the public, items like turmeric and green gram, which […]
Interview: Post-COVID investment to Sri Lanka back on track
The Board of Investment (BOI) Chairman Sanjaya Mohottala said Sri Lanka is home to over 1,200 foreign companies and out that 50 percent of capital formation that took place in 2020 by BOI companies came from existing investors. He added that along with supporting existing industries to expand, the BOI is also looking to orchestrate […]