Lankan expats NOT subjected to conversion rule: Cabraal

As confusions mount on the conversions of the dollar earnings of Sri Lankan migrant workers, the Central Bank reiterated today that expats are not subjected to rule on conversion.

Govt. to export excess turmeric this year

The government said it has plans to export the excess turmeric in the country this year so that the spices sector can up its contribution to the national export earnings.

Local tourism sector gets dedicated vacancy website

The slowly reviving tourism sector now has its very own window to share employment opportunities with the launch of the country’s first and only job site dedicated to the industry.

CBSL extends suspension of activities of Perpetual Treasuries

The business of Perpetual Treasuries Limited (PTL) has been further suspended by the Monetary Board of the Central Bank of Sri Lanka (CBSL) with effect from today.

CSE’s ASPI crosses 13, 000-point mark

The All Share Price Index of the CSE crossed 13, 000 point mark for the first time in the stock market’s history today.

Virtusa appoints new Chairman

Virtusa Corporation today announced the appointment of Rajeev (Raj) Mehta as its new Chairman of the Board of Directors.

CBSL says funds allocated for US $ 500m ISB maturing on Jan 18.

The Central Bank (CBSL) announced that Sri Lanka will meet its commitment for the International Sovereign Bond (ISB) that is maturing in the coming weeks as the necessary allocations have been made.

Banks not ordered to force customers to convert account balances: Cabraal

Central Bank of Sri Lanka (CBSL) Governor Ajith Nivard Cabraal took to Twitter today to stress that no instructions have been given to banks to force customers to convert balances in their foreign currency accounts.

2022 the year for global apparel sector to transform sustainability plans to reality

The global apparel sector will have to walk the talk in 2022 in their efforts towards tackling climate change as end consumers will want to see the ambitions being turned into reality sooner than later, analysis by Investment Insights highlighted.

Dedicated minister for each donor agency to canvass support

Even though the government has so far made no decision to seek International Monetary Fund (IMF) assistance, it has appointed dedicated ministers to interact closely with international donor countries and agencies.

BlackBerry era comes to an end today

The once popular BlackBerry era comes to an end today with the company having taken a call to stop supporting phones running on the BB OS.

CSE’s ASPI makes biggest gain in history today

The All Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) made the biggest single-day points gain in history today.

Expo 2020 Dubai to put SL under fresh spotlight today

Sri Lanka offering to the world will come under fresh spotlight on the international stage today as a national day will be hosted at the country pavilion at the Expo 2020 Dubai, UAE.

TRCSL Chief Oshada Senanayake steps down

Telecommunications Regulatory Commission of Sri Lanka (TRCSL) Director-General Oshada Senanayake has stepped down from his role.

State Min calls for capacity building in tea smallholder sector

The State Ministry of Company Establishment Reforms called on the need to strengthen the capacity and capabilities of the planters if the national economy is to be strengthened.

SL sets up biz council with Jordan to boost trade

Sri Lanka has set up a business council with Western Asia’s Jordan to firm up and boost economic ties and trade between the two regions.

Govt. explores possibility of tourism sector accepting digital currencies by 2022

Sri Lanka is exploring the possibility of accepting digital currencies payments in the tourism sector by next year, the government said.

Global FDI up by 6% in 2020 despite pandemic

The global Foreign Direct Investment (FDI) position witnessed an expansion of US$ 2.2 trillion in 2020 when compared with 2019, an increase led by Europe and the Asia Pacific region.

CB says foreign reserves up at US $ 3.1bn

The Central Bank this morning said Sri Lanka’s official foreign reserves have increased to around US $ 3.1 billion from US $ 1.6 billion by end-November, though without revealing the source of the funding.

Development of pandemic in final weeks of 2021 a concern for global tourism

The way in which the COVID-19 pandemic has developed over the closing weeks of the year gives reason for concern and to once again put public health above everything else, United Nations World Tourism Organisation (UNWTO) said.

SEC and CSE form joint committee to set up CCP

The Securities and Excchange Commission (SEC) and the Colombo Stock Exchange (CSE) have formed a joint committee to set up a Central Counterpart (CPP), which is enabled under the the new SEC Act which came into force on September 19, 2021.

Dollar surrender rule on banks increased to 25%

The Central Bank of Sri Lanka (CBSL) today amended the operating instructions to licensed commercial banks where they were directed to sell 25 percent of the dollars sold to them by customers to the CBSL on a weekly basis.

Food insecurity puts SL on top in SA for child wasting

As the issue of food insecurity grapples the world, Sri Lanka ranks alongside India on having the highest child wasting in Southern Asia, revealed the latest regional overview on food and nutrition by Food and Agriculture Organization of the United Nations (FAO).

CBSL adds merry to season with further incentives for workers’ remittances

The Central Bank of Sri Lanka (CBSL) announced today its decision to extend additional incentives for inward workers’ remittances following requests made by Sri Lankans employed abroad.

High shipping costs could add to Asia’s inflation in 2022: IMF

Come 2020, the persistent impact of high shipping costs could put an end to the benign inflation Asia has enjoyed in 2021, an International Monetary Fund (IMF) blog post shared this week.

Apparel sector employers and unions inks MoU for smooth sailing

In a bid to ensure a smooth sailing going forward, the local apparel sector and key industry trade unions entered into a Memorandum of Understanding (MoU) to ensure business owners and employees work together to iron out issues in the industry.

Chennai holidaymakers encouraged to pick Colombo over Dubai

The state government of Chennai is encouraging those who can afford a holiday overseas to “try out” Colombo, the Times of India reported.

National prosperity marginally increases in 2020

Sri Lanka Prosperity Index (SLPI) has witnessed a marginal increase in 2020 compared to 2019.

Leading biz chambers jointly issue fresh warning to govt.

Leading business chambers in the country have issued a fresh warning to the government today that their membership might be compelled to relocate operations if the current detrimental economic condition continues.

CSE to extend trading hours from Jan.3

The Board of Directors of the Colombo Stock Exchange (CSE), with the consultation of the Securities and Exchange Commission of Sri Lanka (SEC), has decided to extend the trading hours from Monday, 03rd January 2022.