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Central Bank Bars Banks from entering into new forward FOREX contracts

Sri Lanka’s Central Bank (CB) yesterday barred banks from entering into new forward foreign exchange contracts for three months with immediate effect to contain excess volatility in the foreign exchange…

New SEC Act Likely to Be Enacted Within Next Two months

The Securities and Exchange Commission of Sri Lanka (SEC) expects the New SEC Act to be enacted within the first quarter of the year. ” The new SEC Act, which…

Licensed Banks to decide on cash dividend payments After Completing 2020 Financial Statements Audit

The Central Bank (CB) says that licensed banks could pay cash dividends and licensed foreign banks could repatriate profits following the completion of the audit of their financial statements for…

Asian stocks climb to record highs on Biden stimulus hopes

(Reuters) – Asian stocks scaled to record highs on Thursday as investors were hopeful the incoming Biden administration will be able to secure passage of a massive new stimulus package…

Latest $200 million SLDB issuance undersubscribed

The latest $200 million issuance of Sri Lanka Development Bonds (SLDBs) closed undersubscribed on Tuesday with only bids received amounting to $62.64 million, the Central Bank (CB) data showed. The…

Central Bank orders banks to delay dividend payments

The Central Bank (CB) ordered the local banks to differ cash dividend payments and foreign banks to differ profit repatriation until their 2020 accounts have been audited. “Every licensed commercial…

Central Bank Holds Policy Rates Steady with plans to introduce priority sector lending targets

The Monetary Board of the Central Bank (CB) decided to maintain the policy rates at the current levels at the first Monetary Policy Review meeting held for the year. At…

Republicans face growing corporate backlash after Capitol assault

(Reuters) – Republicans in the U.S. Congress faced growing blowback on Monday from businesses that said they would cut off campaign contributions to those who voted last week to challenge…

Central Bank to wind up ETI Finance through Courts

The Monetary Board of the Central Bank (CB) has decided to cause the Director, Supervision of Non-Bank Financial Institutions to make an application to a competent court for the winding…

First Capital Expects Central Banks to hold its Policy Rates Steady

The Colombo-Based, First Capital Research expects the Central Bank to hold its policy rate steady at the upcoming monetary policy review amidst sweeping measures to insulate the economy. “We believe…