Flays critics; reassures deposit holders and investors

The Central Bank on Friday revealed that it was initiating a number of steps to turn around struggling finance companies under its purview while cautioning the public to disregard what it termed “erroneous news” about these institutions.

The following is the full statement.

The Central Bank has observed certain erroneous news items published in a few newspapers raising concerns over financial problems confronted by a few licensed finance companies. Therefore, the Central Bank wishes to clarify the facts behind the inaccuracy of such news in the public interest.

Head of Mission of Consulate General of Sri Lanka in Guangzhou, Consul General Shanika Dissanayake joins Minister Rishard Bathiudeen at the Nanning opening session

  • 15 Chinese and ASEAN leaders at Nanning’s CAEXPO 13
  • Sri Lanka honoured, pleased about China’s interest in Sri Lanka: Rishad
  • Says pleased of China’s interest in Sri Lanka
  • ASEAN bloc is future destiny of China
  • 2015 China-SL trade tops $ 4 b

In a remarkable public health achievement, Sri Lanka was yesterday certified by the World Health Organization (WHO) for having eliminated malaria, a life-threatening disease which for so long afflicted the island nation.

“Sri Lanka’s achievement is truly remarkable. In the mid-20th century it was among the most malaria-affected countries, but now it is malaria-free. This is testament to the courage and vision of its leaders, and signifies the great leaps that can be made when targeted action is taken. It also demonstrates the importance of grassroots community engagement and a whole-of-society approach when it comes to making dramatic public health gains,” WHO Regional Director Dr. Poonam Khetrapal Singh said in Colombo.

World Bank Country Director Idah Pswarayi-Riddihough and Treasury Secretary Dr. R.H.S. Samaratunga exchange one of the agreements signed yesterday

  • Signs three key support projects worth $ 187 m in assistance
  • Extends $ 100 m to boost Govt.’s economic reform push
  • Inks $45 m credit to help protect natural habitats and resources
  • Offers $42 m credit to protect people and infrastructure from climate-related risks

The World Bank appears to be getting more bullish as it committed $ 187 million for Sri Lanka yesterday for three key projects including supporting the Government’s push for economic reforms.

The USS Frank Cable (AS-40) will arrive in Sri Lanka for a routine refueling and port visit today. During the visit sailors from the ship will enjoy shore leave and volunteer at an animal shelter.

USS Frank Cable ( is a submarine tender vessel stationed in Guam to support US military forces and provide rescue and recovery assistance in the Indo-Asia-Pacific region. It has a crew of nearly 500 and is currently on a scheduled deployment in the US 5th Fleet and 7th Fleet area of operations to conduct maintenance and support for US Navy submarines and surface vessels.

CIMA Business Leaders Summit tomorrow

CIMA’s flagship event, the Business Leaders Summit, which will be held on the theme ‘Joining the dots’, will focus on how business leaders can take into account value drivers and turn risk into opportunity in an era where the business environment is characterised by its complexity and rapid change, brought about by geopolitical upheaval, digital media, the growth of emerging economies and changing customer loyalty.

Foreign inflow to capital market gathers pace

By Charumini de Silva

With foreign capital inflow gathering pace during the past couple of months alongside expected debt and equity listings scheduled to take off in the next two months, the country’s capital market is hopeful that the positive trend will continue to end the year on a high note.

Govt. revenue from CTC up 12% to Rs. 49 b in 1H

The Government enjoyed a 12% gain in revenue contribution from the Ceylon Tobacco Company Plc (CTC) to record Rs. 49 billion during the first half but analysts warned that the steady income stream would be at stake if the State went ahead with its overambitious move to up taxation of cigarettes to 90% of stick price.