President Gotabaya Rajapaksa addressing the inauguration of the virtual SLIF yesterday – See Page 4 for the full text of the President’s address Inaugurating SLIF, informs international investors Govt. is proactive and pro-biz Says SL on the cusp of national transformation Committed to double national output to $ 8,000 GDP per capita by 2030; … [Read more...] about President invites the world to join SL’s transformative journey
Some members of the French Navy - Etre Marin Facebook page 750 French navy personnel to visit tourism sites via strict bio-secure bubble In Sri Lanka from today till 11 June via two French naval ships as part of bilateral military cooperation Multiple stakeholders, including Defence, Foreign, Tourism and Health Ministries, facilitating the … [Read more...] about From France with love, but some fume
Navy divers (left) prepare to inspect the hull of the wrecked Singaporean-flagged MV X-Press Pearl (right) that partially sank off the Colombo Port anchorage — Pix by SLN Media Unit SL secures assistance from EU, US, India, Australia, France, and from several UN organisations to help contain possible oil spill MEPA GM says all available resources deployed … [Read more...] about Govt. seeks int’l assistance over MV X-Press Pearl disaster
Top row: Harry Jayawardena and Ishara Nanayakkara;bottom: Sohli Captain and Treasury Secretary S.R. Attygalle. The four groups at HNB collectively control more than 50% of the bank Four-way fight for two slots in second biggest private sector bankThe country’s second-largest private sector bank, HNB is seeing a heated battle for seats on its Board in … [Read more...] about Battle for Board seats hots up at HNB
2 million doses of Sinopharm expected by 9 June Up to 400,000 doses of Pfizer in July Documents for Sinovac approval sent to NMRA No delivery timeline provided by WHO on COVAX vaccines No confirmation on delivery of Sputnik V second dose yet State Minister says rubber stamp on Sputnik consent form upon recommendation of expert committee Alleges … [Read more...] about Govt. rolls out fresh vaccine plan as challenges mount
Group announces astonishing Rs. 57 b in PBT for FY21 and PAT figure of Rs. 53 b Achieves Rs. 28 b as profit attributable to equity holders of parent company Result on divestment of Group investments amounted to Rs. 44 billion, as against Rs. 6 billion in FY20 LOLC Group’s financial services post Rs. 17.3 billion despite allowing for strong risk mitigating … [Read more...] about LOLC remains ‘King of profits’
Reverts to 25% conversion of export proceeds within 30 days of receipt but less with a floor of 10% for export sectors which incur high percentage of imported inputsThe Central Bank has once again tweaked the rules on repatriation of export proceeds with new directives issued via an Extraordinary Gazette effective last Friday (28 May).The Extraordinary … [Read more...] about CB tinkers again with rules on repatriation of export proceeds
President’s Counsel (PC) Gamini Marapana is tipped to be appointed Chairman of the Colombo Port City Economic Commission, reports say. Gamini Marapana PC was the Counsel for the Intervenient Petition filed by Minister of Education Prof. G.L. Peiris in support of the Colombo Port City Economic Commission Draft Bill recently, following a number of Special … [Read more...] about Marapana tipped to be chair Port City Economic Commission!
Justice Minister says Sri Lanka is a proud, non-aligned country Prof. Peiris denies allegations on money laundering haven, assures crucial statutory provisions preserved in operating Port City Cabraal says new commission will set out master plan for promoting investments Govt. to conduct roadshows to project it to the worldBy Charumini de SilvaThe … [Read more...] about Stop demonising Port City: Govt.
Relaxation for one year aimed at stimulating capital formation within real economy and supplement foreign currency needs of the country Previously set limit in Nov. 2018 was so that banks could borrow 1-year short-term with maximum of 1.5-2.5% of total assets depending on individual credit rating Existing total foreign currency borrowing limit up to 10% … [Read more...] about CB lifts limits on short-term forex borrowing by banks