Central Bank continues its Accommodative Monetary Policy Stance

The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 07 April 2021, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 4.50 per cent and 5.50 per cent, respectively. The Board arrived at this decision after carefully considering the macroeconomic conditions and expected developments on the domestic and global fronts.

Bangladesh’s HR Lines to launch Colombo-Chattogram feeder service in partnership with Clarion Shipping

Bangladesh’s container ship operator HR Lines Limited, will be launching the Colombo-Chattogram feeder service on the 4th of April 2021, in partnership with, Clarion Shipping (Pvt) Limited, a subsidiary of Hayleys Advantis Limited. The operation will commence with two of the newest container vessels to be added to the fleet of HR Lines, MV HR Hera and MV HR Rhea with a capacity of 1,454TEU each.

SriLankan Airline’s record-breaking upliftment to the Maldives

SriLankan Airlines carried a record-breaking 1.2 million kilogrammes of cargo from its network to Malé, Maldives, in February 2021.

The Maldives is one of the few open, and highly popular, island destinations in the world for travellers. Since the pandemic, perishable goods have been in high demand. Its island neighbour Sri Lanka supplied a large share of perishable goods, with cargo carried from Colombo to Malé exceeding 500 metric tonnes in the last month. Exports from the Maldives to Sri Lanka amounted to 188 Metric Tons on the route.

Cess levy on pine timber imports

The Minister of Wildlife and Forest Conservation, C.B. Ratnayake says that a Cess levy will be imposed on Pine timber imports in the future.

This measure is to control pine timber imports in a backdrop where sufficient pine timber is available in the country, he says.

CSE to engage listed companies in a two-part series titled ‘Beyond Basics: Excellence in Corporate Governance’

The Colombo Stock Exchange (CSE) will be conducting a two-part series of online forums themed ‘Beyond Basics: Excellence in Corporate Governance’. The forums will offer participants an in-depth understanding on the importance of good corporate governance practices and how it would increase investor confidence through transparency and accountability.

The King of SPACs wants you to know he’s the next Warren Buffett

Bloomberg - Chamath Palihapitiya has already drafted the next chapter in his charmed-life story.

The immigrant kid who bootstrapped his way into riches at Facebook Inc., made billions as a risk-hungry investor and became the pied piper of the current blank-check craze now envisions himself as nothing less than the Warren Buffett of the Reddit era.

Which countries would benefit most from an IMF SDR increase

LONDON (Reuters) - Group of Seven finance ministers are expected on Friday to back a new allocation of the International Monetary Fund’s own currency, or Special Drawing Rights, to help low-income countries hit by the coronavirus pandemic.

Global oil prices reach pre-pandemic levels at a one-year high

Oil prices made their biggest weekly gain this year, reaching pre-pandemic levels at a one-year high. The price of Brent crude is about to breach the important psychological mark of $60, closing the week at $59.34 per barrel. The price of West Texas Intermediate (WTI) crude closed the week at $56.85 per barrel.

Trains without wheels taking the country forward

The world's first locomotive prototype using high-temperature superconducting magnetic levitation technology (HTS Maglev) was unveiled in Chengdu city in Sichuan Province. This prototype has been developed and constructed as a joint venture of the Southwest Jiaotong University, China Railway Group and CRRC Corporation. It will be the birth of the world's fastest trains so far.

Inflation drops to 3% in January 2021

Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100)1 decreased to 3.0% in January 2021 from 4.2%in December 2020.