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Month: March 2022

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Sri Lanka’s Central Bank suspends Money Changing permit issued to Prasanna Money Exchange

Considering the complaints received from general public that Prasanna Money Exchange (Pvt) Ltd is offering higher exchange rates, the Central Bank of Sri Lanka (CBSL) has temporarily suspended the permit…

Sri Lanka’s Exterminators become the first-ever pest control firm to be listed on a stock exchange in South Asia & developing world

Exterminators Limited created history yesterday, becoming the first-ever pest control firm to be listed on a stock exchange in South Asia & the developing and emerging world, the company announced.…

Sri Lanka’s stock market halts trading restricts trading hours due to power cuts

(Reuters) – Sri Lanka’s stock market halted trading for 30 minutes on Thursday, the third such suspension in two days, after an index tracking leading companies dropped by over 5%,…

Global consumers support shift from fossil fuels as they expect spike in energy prices to reduce their purchasing power

A new global survey conducted by Ipsos for the World Economic Forum finds that, even though most consumers across the world expect their purchasing power to be impacted by rising energy prices, few blame…

Plenty of fish but no catch as Sri Lanka economic crisis bites

(AFP) – The sky and seas off Sri Lanka’s coast are crystal blue but a worsening economic crisis has kept fishermen moored at Negombo harbour, out of gas and unable to…

Record number of tourist arrivals to Sri Lanka in March

Sri Lanka recorded over 100,000 tourist arrivals for the first time in two years in the month of March. A total of 101,192 tourists have arrived in Sri Lanka as…

Sri Lanka’s Central Bank to Cut nearly one-third of its holdings in government securities

Entering into a reverse course in money-printing, the Central Bank of Sri Lanka (CBSL) plans to cut nearly one-third of its holdings (Rs.500 billion) in government securities amidst rising inflation…

Sri Lanka’s economy grows 3.7% in 2021, below Central Bank projection

(Reuters) – Sri Lanka’s economy grew at a slower-than-expected 1.8% in the fourth quarter of the 2021 financial year, taking its full-year growth to 3.7%, data from the government’s statistics department showed on Tuesday. Lower than…

Power cuts and fuel shortages drive ASPI to a five and half-month low

Colombo Bourse dropped down for the second day while recording the highest intraday loss in four and half weeks amidst the uncertainties attached to the aggravated power cuts and fuel…

Labour Minister Reminds Private Sector on their Social Responsibility towards employees

The Minister of Labour, Nimal Siripala de Silva urged the private sector to prioritize their social responsibility towards their employees in order to achieve shared prosperity. “ For businesses to…