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Sunday, 11 April 2021 09:59

Sri Lankan Business confidence rebounds

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Sri Lankan Business confidence is now being gradually restored after the resorting hybrid model of working from home (WFH) and office, a recent research revealed.

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The Sri Lankan economy has contracted at 3.6 per cent in 2020 lower than initial projections, the Department of Census and Statistics (DCS) announced.

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Sri Lanka explores the possibility of gaining some funding from the Middle East following discussions with relevant authorities in a latest mission to the Gulf region, Central Bank Governor Professor W D Lakshman divulged.

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Sri Lanka has dropped plans for a fresh bailout facility from the International Monetary Fund (IMF) but the discussions are underway with the donor agency on technical assistance on public financial management

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Sri Lanka Small and Medium Scale Enterprises (SME) will be getting seed capital from an equity fund which was set up recently.

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Special Deposit Accounts (SDA) introduced by the Government last year have swelled  $ 360.3 million, which has ptompted the Cabinet to approve extending their validity period further, Cabinet Spokesman Minister Keheliya Rambukwella said.

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The Urban Development Authority (UDA) is issuing debentures worth Rs.25 billion to raise funds through state banks to finance a large- scale middle income housing scheme, a senior official said

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The Council for Business with Britain (CBB) has linked up with British Chambers of Commerce to promote Sri Lanka-UK trade.

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Sri Lanka’s vehicle imports have been brought down to minimum level following the on going import restrictions enforced by the government to save much needed foreign exchange and prevent the dwindling of foreign reserves.

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The Central Bank observes, with disappointment, a certain newspaper today

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