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New Circular on issuing mining, transportation & trade permits for metals, sand, soil, gravel & clay
A new Circular will be issued to give effect to the process of issuance of permits for mining, transportation and trade of metals, sand, soil, gravel and clay.The President appointed a Presidential Task Force to study the exploitation of Geological resources for development, priorities and self-employment and to meet micro level economic livelihood needs of […]
”; Removes Negative Watch
Fitch Ratings has downgraded Bimputh Finance PLC’s National Long-Term Rating to ‘CC(lka)’ from ‘B-(lka)’. The rating has been removed from Rating Watch Negative. The downgrade reflects Fitch’s view that Bimputh’s liquidity and refinancing risk has risen significantly, driven by a persistent decline in asset quality, while it faces further delays in restoring its regulatory capital […]
State Minister Balasuriya and BOI woo French investment to Sri Lanka
State Minister of Regional Cooperation Tharaka Balasuriya, along with the Chairman of the Board of Investment Sanjay Mohottala, carried out a series of business meeting in France last week on the sidelines of the IFTM TopRESA Travel mart that took place in Paris. This included a series of high level meetings with a number of […]
USAID’s Private Sector Development project signs MOU with HNB to expand financing to MSMEs
The U.S. Agency for International Development’s (USAID) Private Sector Development project signed a Memorandum of Understanding (MOU) with Hatton National Bank PLC (HNB) to expand financing to micro, small, and medium enterprises (MSMEs) in Sri Lanka. “Partnerships like this can dramatically enhance economic and social impact more than any of us could achieve on our […]
CBSL maintains policy rates; near term supply side developments do not warrant policy tightening
The Monetary Board has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 5.00 percent and 6.00 percent, respectively. The Board said it arrived at this decision after considering the macroeconomic conditions and expected developments on the domestic and […]
Sri Lanka remains committed to principles and goals of the Non-Aligned movement – State Minister Balasuriya
State Minister Tharaka Balasuriya represented Sri Lanka at the Commemorative High-Level Meeting on the occasion of the 60th anniversary of the Non-Aligned Movement Speaking at the summit State Minister Balasuriya stated that Sri Lanka reiterates its firm commitment to the principles and goals of the NAM and pledge support for its noble endeavours to secure […]
Swarnamahal Financial Services to resume business for 6 months for limited purpose
The Monetary Board of the Central Bank has made an order permitting Swarnamahal Financial Services PLC (SFSP) to resume business for a limited period of six (06) months with effect from 13.10.2021, for the purpose of exploring the possibility of absorbing the Company to the “Master Plan for Consolidation of Non-Bank Financial Institutions Sector”. The […]
Central Bank may consider maintaining policy stance: First Capital Research
First Capital Research believes that the Central Bank may consider maintaining the same policy stance in this policy review but given the considerable improvement in high-frequency indicators to prevent an overheating of the economy, there is a considerably high probability that CBSL may hike its policy rates. “We believe that there is a significant probability […]
Sri Lanka 2022 budget appropriation bill initial observations: ICRA
Key takeaways § Decline in total expenditure is achieved at the expense of the capital spending § Capital heavy ministries take capex cuts while personnel heavy ministries get a boost for recurrent expenditure § Allocation of defense and security related SUs is strengthened § Overall health related allocation is increased by nearly LKR 7 Bn § Total expenditure allocation on […]
NDB Brand Ambassador Dimuth Karunaratne Surprises the New vKYC Customers
In an effort to bring in some excitement to the lives of the customers of NDB Bank during these uncertain times, Dimuth Karunaratne – Sri Lanka Test Cricket Captain and the Bank’s Brand Ambassador personally joined with NDB to conduct the video Know-Your-Customer verification process for customers. Accordingly, Karunaratne made a surprise appearance in the […]
Jeevan Thiagarajah appointed Northern Province Governor
Former member of the Election Commission, Jeevan Thiagarajah has been appointed as the Governor of the Northern Province, the President’s Media Division said. Thiagarajah took his oaths as the Governor of Northern Province before President Gotabaya Rajapaksa at the Presidential Secretariat today (11).
Video Interview: Women in leadership – Sonali Dharmawardene
Continuing with our women in leadership interview series, this month LBO is featuring Sonali Dharmawardene, a very sucessful fashion designer and entrepreuner in Sri Lanka who has pushed boundaries and found balance to rise to the top of her industry. Sonali has taken one of the oldest Sri Lankan Artisan Crafts and put her own […]