Donald Trump’s wealth takes tumble during presidency

Donald Trump’s net worth dropped by about US $ 700 million to US $ 2.3 billion (£1.65 billion) during his time as president, according to the Bloomberg Billionaires Index.

Unlimited data packages by April: TRCSL

Internet uses across the country could expect to have unlimited data plans by April, the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) announced via Twitter a short while ago.

GOH to be managed by Waters Edge

The iconic Grand Oriental Hotel (GOH), which has been refurbished with an investment of Rs.250 million, will be placed under the management of Waters Edge Recreations, a subsidiary of State-owned hospitality provider, Waters Edge Limited.

Relaxed quarantine measures for vaccinated tourists

Tourists who have received the required dosage of COVID-19 vaccination will be able to spend more time exploring Sri Lanka according to the latest revision of quarantine measures by the Ministry of Health (MoH).

Central Bank says recent bond yield volatility unwarranted

The Central Bank rebuffed the recent uptick seen in Treasury yields, calling the development “unwarranted”, although the investors were beginning to wonder whether the current cycle of low interest rates is over, as inflation to raise its ugly head with the pickup in economic activities with the easing of pandemic-related disruptions.

Banks issued with fresh orders to refrain from buying Lankan ISBs

In a fresh Banking Act Direction, the Central Bank yesterday informed all licensed banks and National Savings Bank (NSB) to refrain from purchasing Sri Lanka international sovereign bonds (ISBs), with effect from March 23, 2021, until April 9, 2021.

NDB turns acquisitive; shores up capital for aggressive growth

National Development Bank PLC (NDB) has turned acquisitive to accelerate growth during the five years through 2025, as the lender is lining up funds to bolster its capital base to fund its next wave of growth.

Indian CEO Forum to promote SL as attractive destination for investment

Money and Capital Markets and State Enterprise Reforms State Minister Ajith Nivard Cabraal and the members of the Indian CEO Forum of Sri Lanka held a cordial discussion at the Finance Ministry, this week.

Labour Ministry launches census on private sector job losses due to COVID-19

Launching a census on job losses in the private sector, due to the impacts of the COVID-19 pandemic, Labour Minister Nimal Sirpala de Silva sought public support to collect information on the individuals who lost their employments.

Rubber plantations advised to be alert on fast-spreading leaf disease

The rubber plantations have been advised to be vigilant and be on the active lookout for any signs of the leaf disease Pestalotiopsis, a threat that could impact the industry output.

Food inflation on the rise as govt. struggles to tame prices of daily essentials

Sri Lanka’s food prices are on the rise albeit the overall inflation measured by the price indices show benign levels. The government for months has been trying with various tools to bring food prices under control but without any success.

Shares end lower as industrials, consumer stocks drag

Sri Lankan shares closed lower yesterday for a fourth straight session, dragged down by losses in industrials, consumer staples and financial stocks. The CSE All-Share Index closed 1.62 percent lower at 6,930.76.

Eco Spindles launches ‘Waste 2 Value’ app on Global Recycling Day

Sri Lanka’s leader in plastic bottle recycling, Eco Spindles (Pvt.) Ltd, a fully-owned subsidiary of BPPL Holdings PLC, launched its highly anticipated ‘Waste 2 Value’ app, at a special launch event held at Hilton Colombo Residences.

Banks issued with fresh orders to refrain from buying Lankan ISBs

In a fresh Banking Act Direction, the Central Bank has informed all licensed banks and National Savings Bank (NSB) to refrain from purchasing Sri Lanka international sovereign bonds (ISBs) with effect from March 23, 2021 until April 9, 2021

SL working with India on travel bubble to host destination weddings

In an effort to increase avenues to increase tourism traffic to the country, the Sri Lanka Convention Bureau (SLCB) together with industry stakeholders have initiated the launch of the ‘Meet in Sri Lanka’ series to cater to the high potential MICE market.

Rubber plantations advised to be alert on fast spreading leaf disease

Rubber plantations have been advised to be vigilant and be on the active lookout for any signs of the leaf disease, Pestalotiopsis, a threat that could impact industry output.

Global economy to witness “solid rebound” this year: UNCTAD

The COVID-19 pandemic struck world will see the light at the end of the tunnel this year, as the global economy is poised for a “solid rebound” in 2021, the United Nations Conference on Trade and Development (UNCTAD) said today.

ASPI slumps below 7, 000 points

The benchmark All Share Price Index (ASPI) of Colombo Stock Exchange tanked below 7, 000 point mark today, reversing the gains made since the end of last year.

Beyond turmeric: How import controls affect Sri Lanka’s economy

Raw turmeric roots on the shelves of roadside vendors is a frequent sight nowadays. Thanks to the import controls, turmeric now fetches a higher price domestically; prices having soared by as much as 275 percent from Rs. 80 per kilo to Rs. 300 per kilo.

Better childcare opens employment opportunities for Sri Lankan women

Despite robust growth and reduced poverty, female labour force participation in Sri Lanka remains at a low 36 percent compared to 75 percent for men —and below international standards.

SL looks to award initial 5G spectrum bands end of this year

The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) plans to award the initial 5G spectrum band slots to the country’s mobile operators towards the end of this year, under a new spectrum management framework that is currently being developed in consultation with the International Telecommunication Union (ITU).

Number portability likely from October

The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) plans to introduce number portability for mobile and fixed lines, enabling consumers to change service providers while retaining their numbers from October this year.

FitsAir in rapid fleet expansion; welcomes first Airbus A320-232

FitsAir, formerly known as ExpoAir, this week welcomed its first Airbus A320-232, which will be inducted to its fleet as a freighter, to support the local exporters and government’s vision to make Sri Lanka an exporting powerhouse.

CB undertakes comprehensive review on banks’ fees and commissions

Various fees and commissions levied by banks on customers are currently under review by the Central Bank, as complaints by customers on such continue to mount, Mirror Business learns.

Russian billionaire Andrey Melnichenko visits Port City Colombo

Russian billionaire Andrey Melnichenko, who is in town, as exclusively reported by Mirror Business, visited Colombo Port City yesterday.

BOI to facilitate visiting investors via bio security bubble

The Board of Investment (BOI) of Sri Lanka will facilitate the potential investors, who wish to visit the country through the bio security bubble option.

Sri Lanka seeks Philippines-style labour accord with UAE

Following the Philippines’ recent success in entering into a historic labour accord with the United Arab Emirates (UAE), Sri Lanka’s Labour Ministry seeks a similar labour accord with the UAE to protect the labour rights of Sri Lankan migrant workers employed in that country.

Rate cut likely if private credit remains subdued

Credit rating agency ICRA Lanka yesterday hints at the possibility of another policy rate cut, should private credit remained weak in the first quarter, as the Central Bank appears impatient to see its actions turning into faster credit flows to the real economy via low-cost loans.

Lankans to enjoy number portability from Oct.

The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) plans to introduce number portability for mobile and fixed lines, enabling consumers to change service providers while retaining their numbers from October this year

FitsAir welcomes first Airbus A320-232

FitsAir, formerly known as ExpoAir, on this week welcomed its first Airbus A320-232, which will be inducted to its fleet as a freighter, to support the local exporters and government’s vision to make Sri Lanka an exporting powerhouse.