CB says NBFI sector regulatory capital boosted by its consolidation masterplan

The Central Bank yesterday said the country’s non-bank financial institutions (NBFI) sector has seen “significant improvement “ in terms of regulatory capital requirements as a result of its Masterplan for Consolidation of Non-Bank Financial Institutions.

Tourist arrivals cross 75,000 mark in Jan.

Sri Lanka has managed to attract over 75,000 tourists up to 29 January.

Calls for transparency get louder over IPO share allocations

As a large amount of the initial public offering (IPO) shares of companies get often allocated to so-called undisclosed eligible investors, market participants are calling for the disclosure of such shareholders in a bid to bring in transparency to the whole IPO process.

Tourism Job Fair & Career Expo 2022 to kick off in Feb.

In an effort to aid the local tourism sector towards a recovery, an exclusive job fair for the industry will kick off come February.

SL digs out coffee past with first coffee festival

Sri Lanka dug out its strong coffee past yesterday with the launch of the country’s first-ever coffee festival.

National project for new entrepreneurs receive cabinet nod

Cabinet nod has been given to kick off the proposed national project to provide opportunities to new entrepreneurs for business development, a move that will uplift the SME sector in the country

EDB launches financial assistance scheme for agri and fisheries value addition

The Export Development Board (EDB) today announced the launch of a financial assistance scheme for the agriculture and fisheries export enterprises so they can move up the value chain.

CBSL issues guidelines on accepting payments from tourists/non-SL residents

The Central Bank of Sri Lanka (CBSL) issued to tourism service providers today the set of guidelines to follow when transacting with tourists and non-residents of Sri Lanka.

Ceylon Tea Wine soon to hit global markets

Ceylon Tea Wine will soon hit the shelves of global markets with the Tea Research Institute (TRI) calling for an Expression of Interest (EoI) to kick off the manufacturing process of the value-added product.

Bookings for intra-European travel witness a boost amidst pandemic

Bookings for intra-European travel over the Easter period have increased by more than 250 percent, while summer bookings are currently 80 percent above 2021 levels, the World Travel & Tourism Council (WTTC) said.

Tourist establishments mandated to accept forex from non-residents

All registered tourist establishments will soon be required to accept foreign exchange from non-residents of Sri Lanka.

CBSL to take further policy measures to assist economic recovery

The Central Bank of Sri Lanka (CBSL) announced today that it will take further policy measures to strengthen macroeconomic stability and pave the way for a gradual recovery in the economy.

IFAD-funded programme for smallholder tea & rubber extended

The Cabinet of Ministers yesterday announced its decision to extend the Smallholder Tea and Rubber Revitalization Programme funded International Fund for Agriculture Development (IFAD) till the end of 2022.

Oman biz fraternity to partake in ‘The Sri Lanka Export Brands’ at Expo 2020

Oman biz fraternity to partake in ‘The Sri Lanka Export Brands’ at Expo 2020

SL settles US$ 500mn ISB obligation

Sri Lanka has settled a US$ 500 million International Sovereign Bond (ISB) which matured today.

Brent climbs to more than 7-year high on Mideast tensions, tight supply

REUTERS: Oil prices rose more than $1 on Tuesday to a more than seven-year high on worries about possible supply disruptions after Yemen’s Houthi group attacked the United Arab Emirates, escalating hostilities between the Iran-aligned group and a Saudi Arabian-led coalition.

December remittance income plummets 60%

In contrast to repeated claims made by the authorities, worker remittances income plummeted as much as 60 percent from the same month last year extending the declining streak for the eighth consecutive month.

Pharma Chamber warns of disastrous medicine shortages

India confirms a SAARC currency swap up to US $ 400mn

India has confirmed its support to Sri Lanka by way of a currency swap under the SAARC arrangement and a deferment of a previous loan.

Not so happy new year for container shipping lines

Leading integrated logistics company, Maersk has warned its customers that 2022 will be yet another challenging year as there will be more issues in the global supply chains going forward.

SL soon to have improved access to employment in UK’s healthcare sector

Sri Lankans will soon have improved access to emerging employment opportunities in the health sector of the United Kingdom (UK) with the government looking to ink an MoU in that regard.

WB sees sharp world growth slowdown, ’hard landing’ risk for poorer nations

REUTERS: The World Bank on Tuesday cut its forecasts for economic growth in the United States, the Euro area and China and warned that high debt levels, rising income inequality and new coronavirus variants threatened the recovery in developing economies.

SriLankan records profits for first time since pandemic in Dec.

December 2021 became the first profitable month since the outbreak of the Covid-19 pandemic for SriLankan Airlines as it reported a company profit of US$ 9.25 million and a group profit of US$ 10.66 million.

Urgent action needed to boost USP of Ceylon Tea

Relevant authorities must take urgent action to strengthen the Unique Selling Point (USP) of Ceylon Tea if Sri Lanka plans to retain and grow its global market share.

Gas shortage creates new jobs in the market

While Sri Lanka’s unemployment rate edged up to 5.2 percent in the third quarter of 2021 (the latest available data), it appears that the ongoing cooking gas shortage is providing new job opportunities to people, helping the government to counter increasing joblessness in the economy.

Relief package will compound govt.’s fiscal challenges: Moody’s

The Rs.229 billion relief package announced by the government a week ago will reduces Sri Lanka’s scope for fiscal and debt consolidation, though it could support economic recovery, Moody’s Investors Service said in a brief statement today.

SL secures first ever coco-peat deal to Kenya

Sri Lanka secured the first ever coco peat deal to Kenya where the first consignment of the natural fiber was shipped to the destination from the Colombo Port on 4 January 2022.

CNN Travel encourage tourists to visit misunderstood city of Colombo in 2022

Sri Lanka’s pristine beaches and lush green mountains were used to be the main attractions for international travellers, however, this time round it is the commercial capital of Colombo that is recommended by CNN Travel.

Bill & Melinda Gates Foundation offers to assist SL to develop digital strategy for agriculture

The Bill & Melinda Gates Foundation has offered to assist the Information and Communication Technology Agency of Sri Lanka (ICTA) in the development of Farmer Data Management Systems and Digital Strategy of Sri Lanka’s agriculture sector.

Maersk overtaken by MSC as world’s largest container line

Integrated logistics company, Maersk is no longer the world’s largest container line with Mediterranean Shipping Co. (MSC) taking the lead.