G20 not sensitive to emerging market issues

Reflecting the sentiments of Bank Indonesia Governor Perry Warjiyo, Central Bank of Sri Lanka (CBSL) Ajith Nivard Cabraal asserted that the G20 intergovernmental forum is not sensitive as it should be towards the issues faced by emerging nations.

Banks to face continued asset quality pressures in 2022: Fitch

Rating agency Fitch in its latest commentary said local banks are expected to face continued asset quality pressures in 2022.

Meta sued for storing biometric identifiers

Facebook parent company Meta is being sued by the Texas attorney general for “storing millions of biometric identifiers’’.

COPE summons several institutions

Several institutions have been summoned by the COPE committee for the month of February and March, including state banks and the apex state body promoting exports.

EU pledge support to boost SL wellness tourism

The EU delegation to Sri Lanka has pledged its support to strengthen the capacity of wellness tourism in the country, which will allow the industry to bounce back faster towards recovery.

5.4 MnKg under the hammer at tea auction this week

A total of 5.4 MnKg of tea came under the hammer at the Colombo Tea Auction this week, a decline of 1.2 MnKg from last week’s offering.

Technical issue allows extended trading time at CSE

Trading at the Colombo bourse went on for additional nine minutes today due to a technical issue, the Colombo Stock Exchange (CSE) said.

Exclusive wedding expo coming up next weekend

The Brides of Sri Lanka magazine together with the Galle Face Hotel will host an exclusive wedding exhibition next weekend.

CBSL launches ‘Lanka Remit’

The Central Bank of Sri Lanka (CBSL) launched today the National Remittance Mobile Application ‘Lanka Remit’.

FAO Food Price Index in Jan up 1.1% from Dec. 2021

The FAO Food Price Index (FFPI) expanded by 1.5 points in January 2022 from December 2021, averaging 135.7 points.

No light at the end of the tunnel for global logistics till 1H22

The challenges faced in the global logistics sector in 2021 likely to spill over to 2022 as well, while pressure on global supply chains is expected to continue.

Cabraal says IMF advice is for technical assistance programme, nothing more

Central Bank Governor Ajith Nivard Cabraal was quick to set the record straight with regard to Sri Lanka’s intention to reach out to the International Monetary Fund (IMF) for assistance.

Basil says advice sought from IMF to tackle economic troubles

The government has sought advice from the International Monetary Fund (IMF) on how to tackle the prevailing economic crisis, but accepting of such advice will be done only after a thorough study, the Finance Minister Basil Rajapaksa said.

Global travel sector to fully recover only after 2024: WEF

The global travel sector was expecting 2022 to be the year for tourism activities to pick up, however, a survey by the World Economic Forum (WEF) revealed that the sector will not witness full recovery until 2024.

Geoffrey Bawa: It is Essential to be There’ exhibition kicks off today

A major exhibition that draws from the archives of the practice of influential architect, Geoffrey Bawa, kicked off today in Colombo.

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.