The Monetary Board of the Central Bank has decided not to renew the money-changing permits of 15 money changers (MCs) for the year 2023 due to non-compliance with a condition of the permits issued for the year 2022, which was communicated to the respective MCs on February 22, 2023.
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) today said the decision to exclude the country’s banking sector from the Domestic Debt Optimisation (DDO) plan will result in lower interest rates.
Sri Lanka will be able to improve trading with the United Kingdom as the new Developing Countries Trading Scheme (DCTS) comes into force from today. Sri Lanka is among the 65 countries that would benefit from the new facility.
Sri Lanka needs to make efforts to use the ongoing global economic slowdown as an opportunity to rethink its growth strategy, as its economy is highly vulnerable and remains at a disadvantage compared to many of its competitors and peers, asserted an international economist.
CMTA Chairman Charaka Perera The Ceylon Motor Traders Association (CMTA) has come up with a proposal to resume vehicle imports, with a focus on benefiting the economy, meeting mobility needs of masses and ensuring government revenue.
In the backdrop of the depreciating Sri Lankan rupee vis-à-vis the US dollar, the Colombo Tea Auction this week saw the rupee tea prices strengthened, following the improved widespread demand. Consequently, a lesser volume of teas remains unsold, the tea brokers said.
Turning a new page in passenger transport, David Pieris Motor Company (Private) Limited, Sri Lanka’s largest automotive company, yesterday launched E-drive, a model electric three-wheeler (tuk-tuk) taxi service for public transportation for the first time in Sri Lanka.
While renewing calls for an equitable and fair pricing mechanism, Sri Lanka Chamber of Pharmaceutical Industry (SLCPI) yesterday said the industry stands ready to reduce prices of pharmaceuticals upto 13 percent in line with the recent rupee appreciation under the condition of flexibility for future price increases in case of deprecation of the currency.
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