Monetary Board keeps policy rates unchanged

The Monetary Board of the Central Bank yesterday decided to keep the current policy rates unchanged with its last monetary action mopping up some excess liquidity in the domestic money market and still being transmitted to the macroeconomy. 

December motor vehicle registrations slow down

?Vehicle registrations for December 2015 declined both year-on-year (YoY) and compared to the past few months, as the number of letters of credit (LCs) opened may have declined over the uncertainty that prevailed discouraging importers.  

Sri Lanka ranked 14th in 2016 global offshoring index

Sri Lanka has been ranked in the 14th position on the 2016 A.T. Kearney Global Services Location Index (GSLI). The country moved up by two points this year from 2015 on the index...

Laugfs group unit Lfinity launches online retail store with delivery options

?Lfinity (Pvt.) Limited, a unit of Laugfs group, recently announced the launch of its highly anticipated virtual hyper mall, ‘clickNshop.lk’, providing a broad range of high-quality products together with some exciting discounts.

Will GSP Plus have same upshot it used to have on Lankan exports?

A leading economist recently cast doubts over the immediate or medium-term benefits regaining the coveted General System of Preferences (GSP) Plus from the European Union (EU) could bring in for the country’s export sectors.  

Rebound in oil prices not entirely negative for SL: StanChart

Standard Chartered Bank’s (StanChart) global research team sounded bullish on the currently volatile oil prices reaching US $ 70 per barrel towards the end of the year, a development, according to its analysts, would not entirely be negative to Sri Lanka.

Kandurata socks continue to occupy top slot in Lankan market

?Sri Lanka’s leading socks manufacturer and marketer Kandurata Umbrella Industries (Pvt.) Ltd is leading the way among all the Lankan manufacturers who contribute to the country’s economy. 

SDF hosts financial literacy workshops for small business entrepreneurs

?Sarvodaya Development Finance Limited (SDF) recently hosted workshops on financial literacy for small business entrepreneurs who had obtained financing facilities from the company in the areas of Balangoda, Ratnapura, Anuradhapura, Kandy and Gampaha. 

India’s MBD group donates A-level science books to CMC libraries

The MBD group of India recently donated important Advanced Level science books to the Colombo Municipal Council (CMC) in celebration of its 150th anniversary this year. 

Aitken Spence Printing and Packaging renews CarbonNeutral certificate

Aitken Spence Printing and Packaging (Pvt.) Ltd, Sri Lanka’s premiere printing and packaging firm, reiterated its commitment to sustainability by renewing its CarbonNeutral certification.

UA’s ‘Union Manushyathwaya’ spreads goodness

?Continuing in its tradition of spreading health, wellness and goodness, among communities across the country, the team behind Union Assurance (UA) corporate social responsibility (CSR) initiatives were able to close out 2015 having influenced countless lives for the better. 

CMA shows love and care for Mallika Home children

?The staff of the Institute of Certified Management Accountants (CMA) Sri Lanka recently undertook a project to provide love and care for the children at the Mallika Home on Visakha Road.

CIMA to deepen state sector ties for better governance

The Sri Lankan division of the world’s largest professional accounting body for management accountants, the Chartered Institute of Management Accountants of United Kingdom ...

YMF of Ceylon Chamber holds AGM

?The Young Members forum (YMF) of the Ceylon Chamber of Commerce (CCC) held its Annual General Meeting (AGM) of the year 2016 recently, which saw the appointment of a new committee, which will spearhead its operations during this year.

Ceylon Chamber to compile SME registry to help find business partners

?The Ceylon Chamber of Commerce, the country’s premier business chamber, has started to collect data from small and medium enterprises (SMEs) spread across the country in order to compile a new SME Registry. 

Sri Lanka to apply for GSP Plus next month

The Sri Lankan government is likely to make its formal application for the European Union’s (EU) General System of Preferences Plus (GSP Plus) facility next month, following Prime Minister Ranil Wickremesinghe’s return to the country from his exploits in Davos, Switzerland.

Massive domestic economic challenges to mark 2016: economist

Sri Lanka’s economic development agenda for 2016 will see domestic challenges dwarfing global uncertainties, making it imperative for the government to deploy the correct policy measures to overcome the tides, an international economist 

Currency strategist expresses fresh concerns over rupee

Currency strategists have expressed fresh concerns over the Sri Lankan rupee (LKR), noting its prospects for 2016 seem rather depressing compared to other regional currencies. 

US firm files countervailing case against Lankan tyres

A US company has filed a countervailing duty petition with the US Department of Commerce and International Trade Commission against a class of tyre exported by Sri Lanka, China and India.

Central Bank seen holding rates steady: Reuters poll

The Central Bank is expected to keep its key interest rates steady at record lows today, a Reuters poll found, after it raised commercial banks’ statutory reserve ratio (SRR) by 150 basis points from January 16 in a bid to relieve pressure on the fragile rupee. 

ILO launches translated site to improve labour law awareness

?The International Labour Organisation (ILO) announced the addition of full Sinhala and Tamil translations of Sri Lanka’s labour laws to the Salary.lk website in an effort to improve awareness of workers’ and employers’ rights and duties. 

Dinesh meets Indonesian FinMin

Asian Tennis Federation Secretary General Suresh Subramanium and Advisor to Prime Minister Dinesh Weerakkody with Indonesian Finance Minister Bambang Brodjonegoro at the World Economic Forum in Davos, Switzerland. Indonesia is the eighth largest economy in the world based on gross domestic product (GDP) figures

SLTPB links with CITES to promote responsible wildlife tourism

Sri Lankan Tourism Promotion Bureau (SLTPB) under the guidance of the Tourism Development and Christian Religious Affairs Ministry will be hosting a lecture by Convention on International Trade on Endangered Species of Fauna and Flora (CITES) Secretary General John E. Scanlon today at Galle Face Hotel Colombo.   

Speaker to be chief guest at CA Sri Lanka President induction

?Speaker of Parliament Karu Jayasuriya will be the chief guest at the ceremonial induction of the 23rd President of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), Lasantha Wickremasinghe, which will be held tomorrow. 

Sri Lanka’s first pro food lab to be unveiled this year

In a new turn for Sri Lanka’s processed food sector, the first-ever specialised Lankan scientific laboratory to test food products is to be unveiled this year.

Rupee trades steady; stocks up

REUTERS - The Sri Lankan rupee was trading steady yesterday as dollar sales by a private bank dollar offset demand for the U.S currency, dealers said. The private bank might have sold dollars on behalf of the Central Bank, some dealers said.

National Policy State Minister calls for greater engagement between SL and Japan

State Minister National Policy and Economic Affairs Niroshan Perera has called for greater engagement between Sri Lanka and Japan in a manner that would allow both nations to reap benefits of each other’s strengths.

Sri Lanka in the limelight as Forbes Asia engages local representation

Infonic Global (Pvt) Limited has been appointed as the representative for Forbes Asia in Sri Lanka, and plans are afoot to draw the attention of Forbes’ extensive global readership to focus on the prevailing opportunities in the most liberal economy in South Asia.

Sri Lanka – Nordic Business Council holds discussions with Norwegian envoy

Sri Lanka – Nordic Business Council of the Ceylon Chamber paid a courtesy visit to Thorbjørn Gaustadsæther, the Norwegian envoy in Sri Lanka recently. The President and the Committee of the Sri Lanka – NORDIC Business Council were among the delegation who met with the Norwegian ambassador

BOI’s ‘one-stop-shop’ to provide speedy processes for investors

The Board of Investment (BOI) on Thursday launched its latest effort, the ‘one-stop-shop’, to create a hassle-free environment for investors. With the nation being criticized by