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Sri Lanka Y-o-Y inflation down to 4.4-pct in Nov 2019
Dec 02, 2019 (LBO) – The yer‐on‐year inflation as measured by CCPI is 4.4 percent in November 2019 and inflation calculated for October 2019 was 5.4 percent, the Department of Census and Statistics said. Year on year inflation of food group has decreased from 6.8 percent in October 2019 to 4.6 percent in November 2019 […]
SLASSCOM honors Sri Lanka’s most innovative technology product and service companies
Dec 02, 2019 (LBO) – SLASSCOM recently hosted the annual innovation awards and gala 2019 for the second consecutive year at the Shangri-La Hotel, Colombo, recognizing and celebrating innovators across a range of award categories in the knowledge solutions industry. Nearly 100 submissions were received for the seven award categories namely; best product innovation, best […]
Authorized dealer was not the importer of mis-declared Audi A5 cars: CMTA
Dec 02, 2019 (LBO) – The Ceylon Motor Traders Association (CMTA) says that the sole authorized dealer for Audi in Sri Lanka was not the importer of the 13 units of mis-declared Audi A5 cars. Issuing a clarification into the previous statement released by the association on this matter, the CMTA said the importation was […]
‘s timeline did not correspond with actual movements of alleged victim: FM
Dec 02, 2019 (LBO) – Sri Lanka’s Foreign Ministry says that the sequence of events and timeline of the alleged incident involving the staff member of the Swiss Embassy as presented by the Swiss Mission did not in any way correspond with the actual movements of the alleged victim on that date. Releasing an update […]
Indian Prime Minister reiterates Sri Lanka to implement 13th amendment
Nov 30, 2019 (LBO) – Indian Prime Minister Narendra Modi reiterated Sri Lanka to implement the 13th amendment to the constitution and expected that Sri Lanka will pursue the process of reconciliation, to fulfill the aspirations of the Tamils for equality, justice, peace and respect. Delivering his remarks at the joint press meet with Sri […]
Sri Lanka to introduce new scoring system to CRIB from January
Nov 29, 2019 (LBO) – Sri Lanka’s Central Bank said a new scoring system will be introduced to the Credit Information Bureau (CRIB) from January next year. “There are lots of concerns about CRIB reporting.So, we decided to give a new face to the CRIB report by introducing a scoring system,” Deputy Governor H. A. […]
Fiscal stimulus should be structured not to overheat economy: CB Governor
Nov 29, 2019 (LBO) – The government is to make a policy statement as to how the recently introduced fiscal stimulus would be accommodated within a stable framework, Central Bank Governor Indrajit Coomaraswamy said. “The government will be making a statement as to how this would be accommodated within a stable framework,” Governor Coomaraswamy told […]
SL Govt re-affirms commitment Vienna Con on diplomatic relations following Swiss Embassy incident
Nov 29, 2019 (LBO) – The Government of Sri Lanka has taken serious note of the alleged criminal incident concerning a locally recruited staff member of the Embassy of Switzerland in Colombo, recently a statement said. On being informed of the alleged incident yesterday, the Police has taken immediate action to commence an investigation into […]
President appoints six-member committee to aid appointments at state institutions
Nov 29, 2019 (LBO) – The Presidential Secretariat appointed a six-member committee comprised of professionals under the directions of President Gotabaya Rajapaksa to submit recommendations on appointment of competent personnel to the Boards of Public Enterprises, Statutory Bodies and State-owned Commercial Businesses. The high-level committee headed by Sumith Abeysinghe, former Secretary to the Cabinet and […]
Recent tax cuts support short term but greater fiscal clarity needed for medium term: CBSL
Nov 29, 2019 (LBO) – Sri Lanka’s Central Bank observes that the recent tax revisions would support lower inflation and higher economic growth in the short term, but was of the view that greater clarity with regard to the medium-term fiscal path of the government is required to assess the impact on the economy over […]
‘s Central Bank to remain unchanged
Nov 29, 2019 (LBO) – The Monetary Board of the Central Bank of Sri Lanka has decided to maintain its accommodative monetary policy stance. Accordingly, the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) will remain at their current levels of 7.00 percent and 8.00 percent, respectively. The Board said it […]
CSE comes alive with Rs2.8bn turnover but foreigners keep selling
November 28, 2019 (LBO) – The Colombo Stock Exchange (CSE) finished a busy day today with trading activity that has been rarely seen in recent years. The stock market registered trading turnover of Rs2.8bn (US$15mn) with the indices finishing up roughly 1.5% on the day. There was broad based trading activity across many stocks. The […]