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Illegally imported Hummer auctions off to the importer himself violating tender procedures
Customs officials have violated tender procedures by auctioning off an illegally imported Hummer to the illegal importer himself at a much lower price. The said vehicle along with three other vehicles was imported to Sri Lanka on February 22 this year. Later they were confiscated and sold in public auction without incurring any loss. However, […]
Transitioning from hawkish to dovish; 75-pct probability for policy rates to remain unchanged: FCR
First Capital Research (FCR) believe that CBSL may consider maintaining the monetary policy rates at its current levels in the upcoming policy review meeting allowing a soft landing from its hawkish to dovish stance. However, given the necessity to provide monetary stimulus to prevent further weakening of the economy and the notable improvement in majority […]
Keerthi Gunawardane takes over as new President of FCCISL
At the 47th Annual General Meeting of the Federation of Chamber of Commerce & Industry Sri Lanka. (FCCISL) Keerthi Gunawardane was elected as the President to take over the reins from first lady president of Shirley Jayawardane. FCCISL was set up in 1973, FCCISL is the largest and most representative apex business organization of Sri […]
Opinion: Marketers’ role in Sri Lanka’s recovery
By Thanzyl Thajudeen Despite the much-required socio-political changes, every one of us – whether its entrepreneurs, SMEs, corporations, institutions and individual citizens – have a crucial role to play in the country’s path to recovery. Instead of continuing to point out fingers to those responsible for the chaotic economic situation we are in – which […]
EU releases Euro 1.5 million to respond to growing humanitarian needs in Sri Lanka
The EU has released €1.5 million in humanitarian aid to respond to the ongoing socio-economic crisis affecting millions of people in Sri Lanka. The new EU funding will mainly focus on multipurpose cash interventions to respond to the basic needs of the population, among which food, health, education and protection. Humanitarian assistance will target the […]
Financial professionals set to benefit from ACCA, CA Sri Lanka mutual recognition agreement
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and ACCA (the Association of Chartered Certified Accountants) have entered a Mutual Recognition Agreement (MRA) allowing members from one body to apply directly for membership of the other. The MRA was signed by ACCA’s Chief Executive and CA Sri Lanka’s President at a ceremony […]
Revoke sweeping new order to restrict protest, says Human Rights Watch
The Sri Lankan government should reverse a new regulation that unlawfully restricts protests in large areas of the capital, Colombo, Human Rights Watch said today. On September 24, 2022, a day after the measure was issued, police arrested 84 people and used tear gas and water cannon to disperse protesters calling for the release of […]
Real-estate still a good long-term investment: Report
Research Intelligence Unit, a consultancy firm specializing in real-estate says the sector will continue to be a good long-term investment while the current socio-economic crisis has impacted the industry adversely. “What we have witnessed in 2022 is that real estate continues to offer a long-term refuge for many investors while the ‘buy-to-live’ market continues to […]
ADB to provide USD14Bn to ease food crisis, promote long-term food security in Asia and Pacific
The Asian Development Bank (ADB) today announced plans to provide at least $14 billion over 2022–2025 in a comprehensive program of support to ease a worsening food crisis in Asia and the Pacific, and improve long-term food security by strengthening food systems against the impacts of climate change and biodiversity loss. The assistance expands ADB’s […]
Earnings from exports increased by 10-pct to USD 1.2Bn in August
Earnings from the merchandise exports increased by 10.24 % y-o-y to US$ 1,213.7 Mn in August 2022 as per the data released by the Sri Lanka Customs. This was mainly due to the increase in earnings from export of Apparel & Textiles. The EDB Chairman & CE, Suresh D. de Mel, congratulates the exporters for […]
New GBP 3m UK Humanitarian support for Sri Lanka
Today, the UK announced a £3 million humanitarian package for Sri Lanka, providing vital support to the most in need. British High Commissioner Sarah Hulton said that “This new package will provide multipurpose cash, livelihoods and other support to those most in need across the country including: pregnant and nursing mothers, children, low-income fisherman and […]