Business News (242)
The Sri Lanka Convention Bureau, an entity under the Ministry of Finance, Economic Development, Policy Formulation, Planning and Tourism successfully concluded the Cultural Triangle Hoteliers Training Program on MICE Tourism on the 15th of October 2024 at the Habarana Village by Cinnamon.
The next review of the International Monetary Fund (IMF) will be delayed, the Central Bank confirmed on Friday.
LIOC revenues up but profits tumble on lower margins in September
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Lanka IOC PLC (LIOC) reported higher revenues but profits tumbled in the quarter ended in September 2024 reflecting growing demand for fuel in a recovering economy, but the margins narrowed, taking a toll on the bottom-line.
People’s Bank announced yesterday that it has successfully concluded the issuance of its BASEL III Compliant Tier 2, Unlisted, Rated, Unsecured, Subordinated Redeemable Debentures with non-viability write-down, as required by the Central Bank of Sri Lanka (CBSL), raising over Rs. 10 billion last month.
The Department's Geology division is in possession of 271 gemstones which have been securely deposited at the Metropolitan Branch of the Bank of Ceylon since September 18, 1964, remains unassessed, the National Audit report in 2023 revealed.
The Colombo Port City Special Economic Zone (SEZ) is drawing significant interest from more than 100 companies, as revealed by its promoter.
Foreigners have purchased an additional Rs. 12 billion worth of Government Securities since 20 September, according to charts.lk
Colombo Port’s Eastern Container Terminal declared ‘special project’
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The government has taken measures to designate the Eastern Container Terminal (ECT) at the Colombo Port as a special project. With the approval of Cabinet of Ministers on Monday 21 .
Sri Lanka to obtain US $30 mln loan from ADB for Moragolla hydropower project
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The New government is to obtain a loan of US$ 30 million from the general capital resources of the Asian Development Bank (ADB), directly to the Ceylon Electricity Board (CEB) in two instalments, for the completion of the Moragolla hydropower project.
Rs. 660 Mn Deposit Mystery in Agri Ministry’s Building Acquisition
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It has been revealed that the government has yet to receive the deposit of 660 million rupees held by the owners of a building in Rajagiriya, controversially acquired during the Yahapalana government for the Ministry of Agriculture.
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Foreigners have purchased an additional Rs. 12 billion worth of Government Securities since 20 September, according to finance ministry sources
Middle East Tensions to pose risks to SL economy and fiscal operations
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The Ministry of Finance outlined that recent tensions in the Middle East are likely to pose risks to the Sri Lankan economy and fiscal operations.
The continuous appreciation of the Sri Lankan rupee following Anura Kumara Dissanayake’s assumption of the presidency has brought both positive and negative effects on the nation’s economy, prompting intervention from the Central Bank (CB).
UK boosts trade with Sri Lanka via new initiatives, duty free scheme
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The UK government continues to extend its support to Sri Lankan exporters through tariff reductions, offering significant concessions aimed at boosting trade under the new regime.