Speaking at Daily FT-Colombo University MBA Alumni Association post-Budget forum, State Minister says Govt. business-friendly outlook conveyed Calls on private sector to make most of opportunities given Assures adherence to strong macro fundamentals Defends import restrictions, measures to be rolled back incrementally Says $ 1 b Port City investment forthcoming Treasury … [Read more...] about Business-friendly Budget sets sights on investment: Cabraal
finance
Chinese tyre giant takes the road less travelled
Shandong Haohua Tire Co. signs BOI deal for $ 300 m export tyre manufacturing plant in Hambantota Will manufacture semi-steel radial tyres and all-steel radial tyres needed for trucks, buses and passenger cars To create nearly 2,000 job opportunities Factory to be set up on 121 acres of land in Industrial Park within H’tota International Port Phase 1 targets annual … [Read more...] about Chinese tyre giant takes the road less travelled
Guts lead to glory, says Gotabaya
President Gotabaya Rajapaksa addressing the nation yesterday on the first anniversary of his office President recaps eventful year, gives breakdown of key policies, efforts to reduce crime, develop economy and fight COVID-19 Calls on public to join together to beat virus, says he has every confidence in citizen commitment Says his presidency ended era of sacrificing … [Read more...] about Guts lead to glory, says Gotabaya
‘Development Budget’: PM
Prime Minister Mahinda Rajapaksa presented what he described as a “development Budget” for 2021 to Parliament yesterday aimed at steering Sri Lanka to 5.5% growth in 2021 and overcoming the severe setbacks to the COVID-19-hit economy. Presenting the Government’s first Budget since its election in August and President Gotabaya Rajapaksa’s election last November, the Prime … [Read more...] about ‘Development Budget’: PM
Govt.’s first Budget to Parliament today
PM presents Budget this afternoon Private sector expects support for local industries, exports and SMEs, public hopeful of relief Public galleries open only to diplomats, media gallery closed for 3rd week in a row Govt. expenditure for 2021 estimated at Rs. 2.6 t, limit on borrowings set at Rs. 2.9 t Debate on Appropriation Bill will last 21 days, with second reading vote … [Read more...] about Govt.’s first Budget to Parliament today
Bellissima to open first dessert store at Hatch
Who would have thought that 2020 would be a rollercoaster ride for the Sri Lankan economy with the arrival of the COVID-19 pandemic? While on this ride, the founder and owner of Bellissima, culinary artist Dush Ratnayake, just like all other self-made entrepreneurs, was driven to take his brand to the next level by opening his first dessert store to provide for his growing … [Read more...] about Bellissima to open first dessert store at Hatch
COVID-19 isolates heart of city
Fort, Pettah, Slave Island and Maradana among five more Police jurisdictions in Colombo isolated Move comes with high numbers of COVID-19 patients detected in Colombo From 392 COVID-19 cases identified on Saturday, 205 were detected from Colombo District By Shailendree Wickrama AdittiyaThe Government has imposed lockdown from today in Fort, Pettah, Maradana, Slave … [Read more...] about COVID-19 isolates heart of city
Daily Mirror – CB wants banks’ credit loss provisioning to reflect more credible economic forecasts
Issues revised instructions to banks asking them to use forecasts and projections published by them This move will effectively shun forecasts of IMF, WB and the likes The Central Bank of Sri Lanka (CBSL) has issued revised instructions to banks on projecting losses on their loans and other financial assets, which will effectively shun forecasts of the International … [Read more...] about Daily Mirror – CB wants banks’ credit loss provisioning to reflect more credible economic forecasts
Economic expectations and prospects post 2020
Prime Minister Mahinda Rajapaksa with President Gotabaya Rajapaksa COVID-19 has triggered the deepest global recession in decades. While the ultimate outcome is still uncertain, the pandemic will result in economic contractions across the vast majority of emerging markets and developing economies. It will also do lasting damage to Human Resource productivity and potential … [Read more...] about Economic expectations and prospects post 2020
Rs. 700 b eyewash to show lower budget deficit: Harsha
SJB Parlimentarian Dr. Harsha de Silva holds up the Appropriation Bill 2020 at the press conference yesterdaySays numbers in multiple VoAs and Appropriation Bill do not match Alleges Govt. playing with numbers to show a lesser budget deficit for 2020 by transferring Rs. 700 b in expenses to 2019 accounts Seeks Auditor General clarification on budgetary figures via … [Read more...] about Rs. 700 b eyewash to show lower budget deficit: Harsha
