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The Central Bank yesterday launched the Roadmap for Sustainable Finance to encourage the financial system to promote financing for climate resilience projects to combat climate change in Sri Lanka.

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Sri Lanka‘s external sector remained relatively stable in April 2019 supported by a contracting trade deficit, Central Bank announced recently.

Thursday, 20 June 2019 05:46

Sri Lanka’s Export earnings up in April

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Earnings from industrial exports increased in April 2019 mainly due to the improved performance in textiles and garments, petroleum products and gems, diamonds and jewellery exports, Central Bank said.

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LB Finance PLC, the undisputed leader in the non-banking sector, recorded a whopping Rs. 9.8 billion Operating Profit before Tax on Financial Services for the year ending March, showing a substantial 25% increase from last year.

Wednesday, 19 June 2019 08:35

All borrowings used to repay debt: Eran

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Total borrowings by the Government have been completely used to repay debt, State Minister of Finance Eran Wickramaratne confirmed to Parliament yesterday rejecting Opposition charges of bad financial management and using money for consumption. The State Minister responding to a supplementary question held the Government was left with a considerable debt burden when they took power in 2015.

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Reuters: Growth in Sri Lanka’s economy picked up to 3.5% in the first quarter from 1.8% in the previous three-month period, Finance Minister Mangala Samaraweera said yesterday.

Wednesday, 19 June 2019 08:27

Trade deficit shrinks further

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The country’s trade deficit narrowed significantly in April and in the first four months of this year thanks to dwindling imports and satisfactory export performance.

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Sri Lanka Tourism will launch the much-awaited two-month global promotional campaign next month with an investment of Rs. 500 million, to position Sri Lanka on the global tourism map which will also help the industry to bounce back quickly from negative sentiments following the Easter Sunday terror attacks.

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Ceylon Electricity Board is set to retire power plants incurring high production costs within the next one and half years, Power and Renewable Energy Minister Ravi Karunanayake said yesterday.

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Sri Lanka’s National Intellectual Property Office(NIPO) is working tirelessly with limited resources to clear the back log ofall pending applications for registration of patents and trademarks over the next 18 months.

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