Category: Economy and Markets
Ceylon Chamber of Commerce seminar to analyze national Budget 2019
Feb 27, 2019 (LBO) – Ceylon Chamber of Commerce will hold its annual National Budget seminar on 7th March 2019 that will discuss the implications of key policy changes in Budget 2019 and if it will be positive towards enhancing investments to strengthen Sri Lanka’s economic future.This seminar serves as an important opportunity for the business […]
Resus Energy to invest Rs.1.3Bn in hydro and solar power projects in Sri Lanka
Feb 26, 2019 (LBO) – Resus Energy PLC a renewable energy firm says they will be investing a staggering 1.3 billion rupees hydropower and solar power projects during this year. These projects have been structured with focus to generating renewable and sustainable energy combining the latest tech and an environmentally responsible business proposition, the Company said issuing […]
Increased exports in Sri Lanka can improve jobs, raise wages: report
Feb 26, 2019 (LBO) – Increasing exports can lead to better jobs and higher wages in Sri Lanka, including more formal jobs for women, a new report launched today in Colombo, showed. The report also highlighted that the labor market policies can help different groups of workers to acquire the right skills and to ensure that the […]
Ceylon Chamber of Commerce calls export SMEs to apply for on-the-job coaching
Feb 26, 2019 (LBO) – Ceylon Chamber of Commerce (CCC) requests export SMEs that has a high potential for growth to apply for an on-the-job coaching programme to improve their export competitiveness. Export SMEs facing various difficulties and challenges pertaining to the successful handling of their exports are eligible to receive this coaching assistance free […]
‘s vehicle registrations rebounds in Jan 2019
Feb 26, 2019 (LBO) – Sri Lanka’s vehicle registrations in the month of January 2019 on most categories have rebounded after witnessing a steep decline in December, data from a new report showed. Motor car registrations recorded 3,147 units in January up from 2,669 units in December but significantly down from 5,318 units 12 months […]
‘s Ceylinco Life posts income of Rs.29.2Bn; PBT of Rs7.2 Bn in 2018
Feb 26, 2019 (LBO) – Ceylinco Life has reported total income of 29.21 billion rupees for the year ending 31st December 2018 and recorded premium income of 17.8 billion rupees, an improvement of 13 percent over the previous year. Announcing its 15th consecutive year of market leadership in Sri Lanka’s life insurance industry, Ceylinco Life […]
Financial Action Task Force endorses initial progress made by Sri Lanka
Feb 25, 2019 (LBO) – Financial Action Task Force (FATF), the global policy setter on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), has made the initial determination that Sri Lanka has completed its action plan. However, that warrants an on-site assessment to verify that the implementation of Sri Lanka’s AML/CFT reforms has begun […]
Fitch affirms ratings of HNB Finance, Siyapatha Finance & Singer Finance
Feb 25, 2019 (LBO) – Fitch Ratings has affirmed the National Long-Term Ratings of HNB Finance, Siyapatha Finance, and Singer Finance with a stable outlook. Accordingly, Fitch has affirmed the National Long-Term Rating of HNB Finance at A(lka) while affirming the National Long-Term Rating of Siyapatha Finance at A-(lka). Fitch Ratings has also affirmed Singer Finance […]
‘s Comm Bank reports operating profit Rs.31.6Bn for the year ended Dec 2018
Feb 25, 2019 (LBO) – The Commercial Bank of Ceylon PLC has reported an operating profit of 31.6 billion rupees for the year ended 31st December 2018, reflecting a growth of 12.8 percent before taxes on financial services. Profit before income tax improved by 10.4 percent to 25.6 billion rupees, a lower rate of growth attributable […]
Inflation likely to remain in 4 – 6 percent range in 2019: Central Bank projections
Feb 22, 2019 (LBO) – Projections of the Central Bank indicates that inflation is likely to remain in the desired 4 – 6 percent range in 2019 and beyond. Headline inflation and core inflation increased in January 2019 mainly due to the increase in non-food inflation driven by higher expenditure on certain items such as […]
Central Bank decides to reduce SRR & keep policy rates unchanged
Feb 22, 2019 (LBO) – The Monetary Board of the Central Bank, at its meeting held on 21 February 2019, has decided to reduce the Statutory Reserve Ratio (SRR) applicable on all rupee deposit liabilities of commercial banks by 1.00 percentage point to 5.00 percent with effect from 01 March 2019. The Board also decided to […]
Rs.8bn inflows into securities since Jan; rupee appreciated 2.3-pct YTD: FM
Feb 21, 2019 (LBO) – Finance Minister Mangala Samaraweera says that foreign capital is now flowing back into the economy with 8 billion rupees worth inflows into government securities since January this year. Addressing the AmCham Breakfast Buzz held today in Colombo, the Finance Minister reminded that the rupee has also appreciated 2.3 percent year […]