From left: Tourism Advisory Committee Chairman Hiran Cooray, CAASL Director General Capt. Themiya Abeywickrama, SLTDA Director General Dhammika Wijayasinghe, Tourism Ministry Secretary S. Hettiarachchi, Tourism Minister Prasanna Ranatunga, Sri Lanka Tourism Chairperson Kimarli Fernando, Health Services Deputy Director General Dr. Hemantha Herath, Airport and Aviation Services … [Read more...] about Ayubowan again to the world
sri lanka business news
CB allows banks to pay dividends
Reverses decision given in May 2020 Banks can pay dividends after finalising annual accounts But calls for banks to be vigilant of capital requirements under Basel III Capital expenditure, non-essential expenses, payments to directors still restricted Central Bank in its latest circular has reversed a decision given in May last year and allowed licensed commercial and … [Read more...] about CB allows banks to pay dividends
Pathfinder-Centennial webinar: ‘A business perspective on economic transformation in the COVID era’
Expert economists and panellists from the business community representing several key sectorsPathfinder Foundation, in collaboration with Washington-based Centennial Group, conducted a webinar titled ‘A business perspective on economic transformation in Sri Lanka in the COVID era’ with the participation of expert economists and panellists from the business community … [Read more...] about Pathfinder-Centennial webinar: ‘A business perspective on economic transformation in the COVID era’
MSMEs and interest rates | Daily FT
The Central Bank is planning to establish priority lending targets for Micro, Small and Medium Enterprises (MSMEs) to assist them to recover from the pandemic and tap into fresh opportunities. But there are many other aspects that will need to be tackled at policy level to truly give this sector a leg up. SMEs contribute about 45% of Sri Lanka’s gross domestic product and … [Read more...] about MSMEs and interest rates | Daily FT
Priority lending for MSMEs: CB
Lending targets to be introduced to MSMEs through consultations with banks Despite low rates, loans to MSMEs typically higher for smaller borrowings Low-cost funding expected to help growth reach 6% in 2021 Policy rates kept unchanged in first Monetary Board meeting Reduced interest rates fuel M2b growth to Rs. 22.3 b, private sector credit hits Rs. 299 b Governor … [Read more...] about Priority lending for MSMEs: CB
Stock market soars to all-time high
Benchmark index ASPI breaks decade-old record level established on Valentine’s Day 2011 ASPI ends day up 188 points to 7,922 points, overtaking previous peak of 7,811 points Intra-day ASPI touched a high of 8,016 within 5 minutes of trading before a welcome correction followed by excellent recovery Bloomberg lists CSE as best performing primary index with 17% YTD return … [Read more...] about Stock market soars to all-time high
Take-off Thursday | Daily FT
Airport Aviation, Immigration and Sri Lanka Tourism all gearing to welcome tourists with border reopening from 21 January AACSL notifies commercial airlines can resume flights to BIA and MRIA Number of tourists to be flown in restricted to 2,500 per day All tourists except from UK allowed with online ETA Department of Immigration and Emigration issues new procedure for … [Read more...] about Take-off Thursday | Daily FT
SL trade deficit shrinks $ 1.8 b: CB
$ 1.79 b deficit reduction in first 11 months of 2020 Second COVID-19 wave reduces Nov. trade deficit by $ 198 m Exports decline by 16.3% to $ 819 m, 37.2% fall in garments Agri fell 2.3%, tea 5.2%, minerals 4.4% Merchandise imports slump 20.5% to $ 1.3 b Food imports drop 11.4%, 44% decline in fuel expenditure Reserves $ 5.6 b at Nov. end, rupee depreciates 2.6% in … [Read more...] about SL trade deficit shrinks $ 1.8 b: CB
Controller issues fresh directive on imports
Commercial Banks and Customs updated with new operating instructions on advance payment facilities worth over $ 50,000 and clearance of goods respectively Separate rules on payment below $ 50,000 per two weeks for imports under DA and OA terms Customs can release unbanned goods without Import and Export Control Dept. approval being needed for each and every … [Read more...] about Controller issues fresh directive on imports
Govt. two-faced on debt: Harsha
Samagi Jana Balawegaya Parliamentarian Dr. Harsha de Silva addressing reporters yesterday Questions why Govt. raising $ 200 m through local advertisements if macro fundamentals solid and ratings downgrades have had no impact Says different ministers painting different pictures to public Questions reasoning behind Gammanpila asking for debt rollover if Cabraal’s positive … [Read more...] about Govt. two-faced on debt: Harsha
