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On top of discussions for a $ 400 million swap facility, Sri Lanka will also look at ways to reduce a significant trade deficit with India, Money and Capital Market and State Enterprise Reforms State Minister Ajith Nivard Cabraal said yesterday.

Tuesday, 29 September 2020 07:24

Rewards scheme from 1 Oct. to boost exports

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In a bid to commend exporters and the resilience shown by them during an unprecedented COVID-19 pandemic, the Export Development Board (EDB) of the Ministry of Trade has proposed an export stimulus reward scheme from 1 October to 31 March next year.

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The Central Bank will initiate necessary legal action against unauthorised deposit taking institutions while taking measures to broaden public awareness on the consequences of engaging in unauthorised financial activities.

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Sri Lanka’s newest commercial international airline, Spark Air hits the local air route from February next year, with the Mattala International Airport serving as its hanger.

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Sri Lanka's nominal government budget deficit has expanded in the seven months to July 2020 to Rs.872.6 billion from Rs.684.1 billion recorded in the corresponding period of the previous year.

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Sampath Bank PLC has announced the elevation of Rushanka Silva as Deputy Chairman (Non-Independent, Non-Executive Director) and Deshal De Mel as Senior Independent Director with immediate effect.

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Sri Lanka’s newest commercial international airline, Spark Air, plans to take wing from February next year, with the Mattala International Airport serving as its hub. The company, Spark Air Ltd., will initially fly two Airbus A330 aircraft for cargo operations due to the ongoing pandemic, and later expand to passenger operations as the airline passenger situation improves in time to come.

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State Minister for Finance, Capital Market and State Enterprise Reforms Ajith Nivard Cabraal recently stated that Lankan rupee will appreciate once the inflow begins from the SWAP deals.

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Sri Lanka’s business sentiment continues to move slowly despite the uncertainty triggered by Covid-19 contagion, latest survey revealed.

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Pelwatte Dairy Industries, Sri Lanka’s leading local dairy producer, is on a renewed mission to meet the domestic milk demand and uplift the socio-economic status of local dairy farmers.

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