Category: Economy and Markets
European Union provides LKR 8.26 billion in grants to Sri Lanka
The European Union (EU) announced the signing of three grants worth EUR 35.75 million (LKR 8.26 billion) which will support Sri Lanka’s justice sector, help improve food safety, and strengthen efforts to mitigate climate change. The grants were signed on behalf of the Government of Sri Lanka by Secretary to the Treasury, Mr. S.R. Attygalle […]
Policy rates to hold steady, amidst sweeping measures to insulate economy: FCR
Jan 12, 2021 (LBO) – First Capital Research believes that there is a 60% probability to hold rates due to the considerable improvement in high-frequency indicators and with fiscal and monetary measures implemented so far. However, there is a 20% probability each for 25 bps and 50 bps rate cut to support economic growth. “As […]
Uber marks 5 yrs in SL, serves 1.8Mn riders and 110,000 drivers
Jan 12, 2021 (LBO) – Uber today marks its fifth year anniversary in Sri Lanka, during which it has served 1.8 million riders, completed more than 53 million trips and created livelihood opportunities for 110,000 drivers. Since its launch in 2015, Uber Sri Lanka has successfully transformed the mobility landscape of the country offering citizens […]
IFC’s $25Mn investment in NTB to help businesses continue operations amid COVID-19
In an effort to provide improved access to critical working capital for Sri Lankan businesses impacted by the COVID-19 pandemic and to help preserve jobs, IFC, a member of the World Bank Group, is providing a $25 million loan to Nations Trust Bank (NTB). The financing package, which will be used by NTB to help […]
Sri Lanka’s boat manufacturing capabilities highlighted in Jordan
The Embassy of Sri Lanka in Jordan with the active facilitation of the Sri Lanka Export Development Board held a virtual Meeting on 6 January 2021, to showcase Sri Lanka’s highly specialized boat manufacturing capabilities to a Jordanian Boat importing company in Aqaba port city which currently sources and imports boats for the Jordan, Iraq […]
Union Assurance hosts virtual gala for annual awards
Union Assurance takes digital disruption to the next level as it felicitated top achievers of the Agency and Bancassurance sales force at a glittering Virtual Gala on 18th December 2020. The event was viewed by over 5000 participants and attended by a distinguished leadership including the John Keells Chairman, Krishan Balendra and President, John Keells Group, […]
Korean based Heung A Line expands services to Sri Lanka
Heung A Line head quartered in South Korea launched its maiden service (SIS/CI6) in Sri Lanka with its first vessel call at the CICT of the Port of Colombo with mv. BALTIC SOUTH v. 2001W on the 22nd of December 2020. The service is jointly operated by Heung A Line in partnership with Sinokor Line, […]
CA Sri Lanka’s annual report awards to comeback this year
The prestigious Annual Report Awards Competition organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), is set to make a grand comeback this year with a series of relaxations which will immensely benefit the participating companies amidst the COVID-19 global pandemic. The Annual Report Awards Competition which stakes claim to an […]
Asia Securities forecasts strong growth trajectory for equities in 2021
Following a year of volatility, leading stockbroking firm Asia Securities (Pvt) Ltd, notes that the road ahead for Sri Lanka’s capital markets is optimistic, with the ASPI expected to reach 7,400-7,600 in 2021. The Sri Lankan stock market marked a V-shaped recovery in 2020, seeing one of its strongest rallies to recover all losses suffered […]
‘s Human Development Index ranked 72 out of 189 countries; highest in South Asia
Jan 05, 2021 (LBO) – Sri Lanka is in the high human development category, positioned 72 out of 189 countries, and is the highest in the South Asian region, handing over the Global Human Development Report 2020 to Prime Minister, UNDP Resident Representative Robert Juhkam said. The Human Development Report (HDR), is the annual flagship […]
Restrictions on outward remittances on capital transactions extended by 6 months
Jan 05, 2021 (LBO) – The Central Bank says that the restrictions imposed on outward remittances on capital transactions have been extended by a further six months to preserve the foreign currency reserve position of Sri Lanka. Accordingly following restrictions on outward remittances on capital transactions will be effective till 1 July 2021. Suspension of […]
Utilizing recyclable PET plastic waste: Towards a circular economy
By Dr. Anush Amarasinghe “Reduce, reuse, and recycle”- a household phrase you’ve probably heard over and over again either through school, from awareness campaigns or even on TV. This commonly used phrase is one expected to enthusiastically and optimistically drive the mind-sets of those listening, to essentially do the right thing and help efforts to […]