Tag: lankabusinessonline

Oct 27, 2014 (LBO) – Sri Lanka will continue to liberalize exchange controls to encourage the investments that needed to maintain high economic growth and to link more with global business Central bank Deputy Governor P Samarasiri said.He said the exchange control activities started in Second World War to protect the foreign exchange earnings they […]

Oct 21,2014 (LBO) – Sri Lanka Ceylon Chamber of Commerce plans to hold a post budget seminar to discuss the ‘National Budget of 2015’, which will be presented in Parliament on the 24thof October, 2014, chamber said in a media release. Top government officials, senior tax consultants and corporate executives have been lined up to […]

Oct 21, 2014 (LBO) – Sri Lanka’s Government urged to create a friendly regulatory framework to drive the growth of the small and medium enterprises in the island, chamber chief said. Tilt the policy framework in favor of SME’s, Suresh Shah, Chairman of the Ceylon Chamber of Commerce said. This is only fair since many […]

Oct 20, 2014 (LBO) – Sri Lanka to construct and rehabilitate about 537 rural bridges with a credit facility of 162 million US dollars, provided by The Deutsche Bank AG (London) and the Bank of Tokyo-Mitsubishi UFG Ltd Finance ministry of Sri Lanka said. Added to that the ministry says the development of these bridges […]

Oct 20, 2014 (LBO) Sri Lanka’s cabinet of ministers had given approval to establish an Inter Regulatory Institutions Council with a view of identifying issues that require collective action by financial sector regulators.Establishment of the council plans to promote financial system stability and the development of the financial sector. Financial institutions include licensed banks, licensed […]

Oct 16, 2014 (LBO) – Malaysian Export Import (EXIM) bank said that they are looking at opportunities in investing and helping with the rapid economic development in Sri Lanka. We are very much delighted to be here, Adissadikin Bin Ali, President and the Chief Executive of EXIM Bank Malaysia said. I have seen very impressive […]

Oct 13, 2014 (LBO) – Sri Lanka needs a credit rating system especially for the small and medium businesses to have easy access to finance, said Saman Kelegama, director of the Institute of Policy Studies, a think tank. Access to finance remains a key constraint for SME’s growth, with a one trillion dollar credit gap […]

Oct 13, 2014 (LBO) – Sri Lanka’s small and medium enterprises are encouraged to partner with big companies, so they could take advantage of consumer market and finance. The forum has organized by the Ceylon Chamber of Commerce who will bring together all stakeholders in the SME sector including policy makers, banks, service providers, technocrats […]

Oct 11, 2014 (LBO) – Sri Lanka’s Department of Pensions launches a digital identity card for pensioners in partnership with Sampath Bank, a private lender in the island, the bank said in a media release. The official launch of the card held 9th September 2014 at Pensioners ’Resort in Kelaniya with the participation of over […]

Oct 11, 2014 (LBO) – Sri Lanka is estimated to have received about 1.3 billion US dollars of foreign direct investment by October 2014, investment promotions minister Lakshman Abeywardene said. There will be 23,600 new jobs created if these FDI’s successful. BOI enterprises have exported 4.84 billion US dollars’ up to October worth of goods […]

Oct 10, 2014 (LBO) – Sri Lanka’s Central Bank has requested all banks who are participating in the Credit Guarantee Scheme supported by the Government to reduce the applicable interest rate for such pawning advances to 12 per cent from the current rate of 15 per cent, with immediate effect. At present, 12 banks have […]

Oct 09, 2014 (LBO) – Sri Lanka’s exports rose 7.9 percent, to 991.3 million US dollars in August 2014 from a year earlier with 85.6 percent contribution of apparel exports, official data showed. Apparel exports grew 17.0 percent to 428.6 million US dollars in August 2014, the Central Bank said. Exports of machinery and mechanical […]