exchange rates

The Commonwealth Enterprise and Investment Council (CWEIC) announced this month the appointment of Niro Cooke to its Board. Cooke, a Sri Lankan professional, is at present the youngest Board member appointed to the statutory board of the CWEIC.Niro Cooke CWEIC is the Commonwealth’s business network. Founded in 2014, it has over 90 business and government … [Read more...] about Daily Mirror – Niro Cooke appointed to CWEIC Board

 Confident that with more bargaining power, govt. will deliver what they expect Look forward to firm, long-term solutions to biz issues within next five years Exporters want due emphasis to sector with strategies for revival and steady policies Expects united, efficient team to steer tourism industry forward By Shabiya Ali AhlamThe local business community … [Read more...] about Daily Mirror – Biz community hopeful of two-thirds majority delivering

This is despite economy being rated mostly ‘unfree’ Country’s overall score increases by 1 point due to higher fiscal health score Ranked 24th among 42 countries in Asia–Pacific region Nine of SL’s 12 Index indicators below global average levels Sri Lanka moved up in Heritage Foundation’s world Economic Freedom Index 2020 by three spots to 112th position, although, the … [Read more...] about Daily Mirror – SL moves three spots up to 112th position in world Economic Freedom Index

But says adequate capital buffers built over last 3 years to help withstand near term risks  Says temporary restrictions on declaring cash dividends to help banks’ capitalisation levels in near term The adequate capital buffers built, specially during the last three years, will soften the negative impacts on the banking sector stemming from the new coronavirus-driven … [Read more...] about Daily Mirror – COVID-19 compounds stress on Sri Lankan banks: Fitch Ratings

Central Bank’s top researcher recently revealed how external agencies, including that of the World Bank, International Monetary Fund (IMF) and rating agencies project doomsday scenarios for the Sri Lankan economy even when the country is rapidly returning to normalcy after the COVID-19 outbreak.Earlier this week the World Bank projected a deeper recession for the Sri … [Read more...] about Daily Mirror – CB’s top researcher reveals how external agencies forecast doomsday scenarios

The Sri Lankan gig platforms are at a disadvantage over their foreign counterparts, who have their operations here, as the former comes under regulatory scrutiny and local tax laws while the latter is not, says the Central Bank.While the issue has come under some scrutiny in the past, regulatory or policy redress did not come about either due to authorities’ … [Read more...] about Daily Mirror – Lankan gig economy lacks level playing field as foreign players not subject to local regulations and tax laws

President Gotabaya Rajapaksa  Says multilateral and bilateral official creditors have “special responsibility” to be innovative to create such space Stresses that leading agencies and leaders should act fast “without” placing conditionalities Tells intl. community such support will help restore confidence, re-energise growth and investments  By Shabiya Ali … [Read more...] about Daily Mirror – President appeals for “unconditional” budget support from intl. lenders to revive economy

 COVID-19 is dealing an unprecedented blow to economies around the globe and the health risk is only the tip of the iceberg. Among the many impending crises resulting from the pandemic, rising food insecurity, due to the lockdown measures, is one of the most critical. The 2020 Global Report on Food Crises highlights that the pandemic is likely to limit access to … [Read more...] about Daily Mirror – New face of hunger: Building a resilient food system in Sri Lanka in an age of pandemic

Sampath Bank’s interim results released for the March quarter (1Q20) showed that the economy was gathering steam from the lower interest rates and tax cuts, as the loans had begun to rise and earnings got a boost before it hit a wall when the country went to lockdown to prevent the spread of China-originated COVID-19. Sampath Bank, the third largest private lender by … [Read more...] about Daily Mirror – Sampath Bank 1Q20 indicates economy was gathering steam before pandemic

 Says has enough cash reserves and bank facilities to sustain operations  Group’s flagship project Cinnamon Life expects slowdown in sales momentum Retail business to bolster online operations to tackle new normal in consumer behaviour  Sri Lanka’s largest listed firm, John Keells Holdings PLC (JKH) expects the COVID-19 pandemic to overshadow its first and second … [Read more...] about Daily Mirror – JKH expects economic fallout from COVID-19 to overshadow first half