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Sri Lanka introduces an electronic Government Procurement System
Remarks made by Mangala Samaraweera, Minister of Finance at the launching event of the Electronic Government Procurement (e-GP) System on 29th May 2019 Let me first of all thank my Ministry officials, particularly Director-General Algama and his team of the Public Finance Department, for yet again achieving an important benchmark in realizing more transparency and […]
World Bank to allocate USD 250mn policy based guarantee to Sri Lanka for external borrowings
May 29, 2019 (LBO) – The World Bank has offered 250 million US dollars worth policy based guarantee to Sri Lanka for the external borrowings, the Central Bank Governor Indrajit Coomaraswamy said. According to the Governor, under this facility Sri Lanka can leverage the guarantee four times over to borrow money from the international market […]
Sri Lanka rupee appreciated 3.8-pct against the US dollar up to 28 May 2019
May 29, 2019 (LBO) – Sri Lankan rupee appreciated against the US dollar by 3.8 percent by end March 2019 compared to end 2018. “Along with the significant reduction in the trade deficit and significant inflows to the financial account, the Sri Lankan rupee appreciated against the US dollar by 3.8 percent by end March […]
Interview:How to grow SriLankan entrepreneurship in the USA
May 29, 2019 (LBO) – Insaaf Mohideen, is a Sri Lanka born American entrepreneur and investor who has seen his career spanned across the fields of technology, entrepreneurship and eventually investment banking in Silicon Valley over the past two decades. Mohideen has been actively involved in relief and aid efforts across the world including a […]
DFCC iConnect to facilitate employee EPF payments
The greatest testimonial to DFCC Bank’s credentials as the industry leader in pioneering FinTech solutions in the banking and financial solutions industry is in the fact that Central Bank of Sri Lanka recently signed an agreement with DFCC Bank to facilitate EPF payments online through DFCC’s iConnect Payments and Cash Management Portal. DFCC iConnect delivers […]
Sri Lanka exports up 5.6-pct: Imports down
May 29, 2019 (LBO) – Export earnings increased by 5.6 percent (year-on-year) while import expenditure declined by 19.3 percent during the first quarter of 2019, the Central bank said. The deficit in the trade account contracted to 1,661 million US dollars from 2,982 million dollars recorded in the first quarter of 2018. In March 2019, […]
India relaxes travel advisory for Sri Lanka
May 28, 2019 (LBO) – India has relaxed its travel advisory for Sri Lanka. The previous advisory advised against non-essential travel, while the updated one advised to be careful and vigilant. May 28th advisory: “Security situation in Sri Lanka is gradually returning to normal with the lifting of curfew & restrictions on social media and […]
Sri Lanka signs MoC with Japan & India to develop Colombo South Port
May 28, 2019 (LBO) – Memorandum of Cooperation (MoC) among the three governments of Sri Lanka, Japan and India on the development of the East Container Terminal (ECT) located in the Colombo South Port was signed in Colombo on Tuesday. The Ministry of Ports, Shipping and Southern Development said the three governments will work out […]
Sri Lanka to host 2021 Annual meeting of ADB: Finance Ministry
The 54th Annual Meeting of the Board of Governors of the Asian Development Bank is to be held in Colombo, in May 2021. The Annual Meeting of the ADB Board of Governors is an opportunity for member governments to interact with ADB staff, nongovernment organizations (NGOs), and representatives of observer countries, international organizations, and the […]
ComBank slashes rates for ‘Biz Loans’ to encourage SME Sector
Commercial Bank of Ceylon has announced a reduction of interest rates relating to its ‘Biz Loans’ with a view to further supporting the small and medium businesses of the country. The Bank said loans of up to Rs 250 million are on offer from 13% per annum to members of the Bank’s ‘Biz Club’ as […]
Switzerland relaxes travel advisory for Sri Lanka
May 28, 2019 (LBO) – Switzerland has relaxed its travel advisory to Sri Lanka. The travel advisory previously warned citizens to avoid all but essential travel to the island.The advisory was heightened after the Easter Sunday terror attacks. Switzerland has historically accounted for roughly 3% of Sri Lanka tourist arrivals. Switzerland is the first country […]
Lotus Renewables buys Hatton Plantations (HPL) in Rs1bn deal
May 28, 2019 (LBO) – Lotus Renewable Energy Group (LREG) has bought control of Colombo Stock Exchange (CSE) listed Hatton Plantations (HPL) in a Rs1bn stock market deal. LREG has purchased controlling interest in HPL for just over LKR 1bn at Rs8.3/share. They will be making a mandatory offer for the remaining outstanding shares at […]