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Sri Lanka should adopt extreme tourism targeting, covering high-end and backpackers
Jun 23, 2020 (LBO) – Sri Lanka’s tourism industry can adopt extreme targeting, covering not only the high-end but also the lower end backpackers, an industry professional said. “They are more prone to travel during this period. It is about targeting early adopters both consumers and logistics/market-wise,” Vickum Nawagamuwage Founder CEO of Santani Wellness Resort told a […]
‘s headline inflation decreased further in May
Jun 22, 2020 (LBO) – Headline inflation as measured by the year-on-year change in the National Consumer Price Index decreased further to 5.2 percent in May from 5.9 percent in April. This was mainly driven by the statistical effect of the high base that prevailed in May 2019. Meanwhile, Food inflation (Y-o-Y) declined to 11.1 […]
Ranjith Kodituwakku appointed People’s Bank CEO
Jun 22, 2020 (LBO) – Ranjith Kodituwakku has been appointed as the Chief Executive Officer/ General Manager of People’s Bank with effect from June 19, 2020. He had previously served as the Deputy General Manager (Commercial Banking and Digitalization). The appointment as CEO/GM follows the retirement of M.A. Boniface Silva – Acting CEO/GM. Ranjith Kodituwakku […]
Trade deficit widens in April; import expenses on personal vehicles up, no tourism earnings
Jun 22, 2020 (LBO) – Sri Lanka’s trade deficit widened in April 2020 to US dollars 840 million, from US dollars 797 million in April 2019, as the decline in exports exceeded the decline in imports. Expenditure on merchandise imports declined notably, on a year on year basis, by 29.6 percent to US dollars 1, […]
Challenges for Colombo Port City amidst uncertainty & volatility of current markets
Jun 22, 2020 (LBO) – PricewaterhouseCoopers (PwC) Sri Lanka recently hosted a webinar on Colombo Port City and its potential impact on the Sri Lankan economy. The event speakers included Thulci Aluvihare, Head of Strategy and Business Development – CHEC Port City Colombo (the “Project Company”), Aruna Perera, Director – Corporate Finance & Valuation Consulting […]
DIRECTOR OF FINANCE COURSE
Conducted by a Veteran Finance Professional Nirmalan Nagendra recently conducted an extensive Director of Finance Course for Executive Committee Members of hotels in Sri Lanka. The target audience for the course were Finance Professionals, Hotel Owners, HR Managers, F&B Managers, F&B Controllers and Senior Sales Personnel of hotels. Having worked in the Middle East, Barbados, […]
‘s Bank introduces multiple loan schemes in line with government direction
Jun 22, 2020 (LBO) – The Chairman and Board of Directors together with the management of the People’s Bank in accordance with the direction of the Government, has introduced a number of new loan schemes along with special concessionary interest rates for sectors with most of the loan schemes offering single-digit interest rates. According to […]
‘s Central Bank
Jun 21, 2020 (LBO) – Former Finance Minister Mangala Samaraweera says that he is defending the actions of the Central Bank as the Bank has done what was required of them in response to the crisis. In an open letter to Prime Minister Mahinda Rajapaksa, the former Finance Minister has pointed out that the responsibility […]
SLAITO Youth to improve sustainability of tourism industry
It is no secret that the tourism industry in Sri Lanka has weathered many storms over the past few decades but none compare to that of the present. The global crisis that has gripped almost every industry in Sri Lanka has thrown Sri Lanka tourism into uncharted waters. Hence as the apex body for the […]
Bar Association of Sri Lanka launches online Certificate Course in Commercial Arbitration
The Bar Association of Sri Lanka has launched a brand-new Certificate Course in Commercial Arbitration which will also be the first Online Course to be conducted by the BASL. The Course is due to commence on 26th June and will be conducted by a highly sought after panel of resource persons including Dr.K. Kanag-Iswaran, PC, […]
Cinnamon Hotels offers 1000 complimentary holiday packages for health workers
As a way of saying ‘Thank You’ to Sri Lanka’s courageous healthcare workers, Cinnamon Hotels & Resorts is offering 1,000 complimentary full board holiday packages, for two nights at nine of its properties in Sri Lanka. Packages will be distributed based on the nominations received from the Ministry of Health and will be valid for […]
100bps rate cut on the cards to push banks for lending: First Capital Research
Jun 19, 2020 (LBO) – First Capital Research allocates a policy rate cut expectation of 100bps bringing the SDFR and SLFR to 4.50% and 5.50%, respectively. Despite prevailing the low-interest-rate environment it will have a ripple effect on the overall economy, First Capital Research said in a new research note. “We believe that the Central […]