BIZ

CBSL relaxes mandatory export conversion period

Published

1 month ago

September 9, 2024

editor

The Central Bank of Sri Lanka (CBSL) has relaxed the mandatory export conversion period in the latest exports proceeds conversion rule.

As per the new rules, the mandatory export conversion period has been extended to roughly a three-month period from an earlier one-month period.

The CBSL states : Taking into consideration the macro-economic developments, in particular the developments in domestic foreign exchange market conditions, Central Bank of Sri Lanka issued the “Repatriation of Export Proceeds into Sri Lanka Rules No. 01 of 2024” (Rules), which was published in the Gazette Extraordinary No. 2391/02 dated 01.07.2024, in terms of the Central Bank of Sri Lanka Act, No. 16 of 2023, substantially relaxing the period applicable for exporters of goods to convert their export proceeds into Sri Lanka Rupees.

The complete press release is as follows :

press_20240907_relaxation_of_the_period_applicable_for_exporters_of_goods_to_convert_their_export_proceeds_into_sri_lanka_rupees_e Download

BIZ

New board of directors appointed for SriLankan Airlines

Published

6 days ago

October 10, 2024

editor

Sarath Ganegoda has been appointed as the new Chairman of SriLankan Airlines, effective from October 9.

Alongside his appointment, a new Board of Directors has been announced for Sri Lanka’s national carrier under his leadership.

New Board of Directors of SriLankan Airlines:
1. Sarath Ganegoda (Chairman)
2. Buddhika Hewawasam
3. Sugath Rajapakse
4. Eranga Rohan Peiris Goonetilleke
5. D. Arandara
6. Ananda Athukorale
7. Lakmal Ratnayake
8. Niranjan Arulpragasam

Ganegoda, a respected business leader, is currently the Group Executive Director of Hayleys PLC and the Deputy Chairman of Alumex PLC.

He has held senior management roles in both local and international companies and is a Fellow of CA Sri Lanka, as well as a member of the Chartered Management Accountants of Australia.

BIZ

Trishaw fares revised

Published

7 days ago

October 9, 2024

editor

Three-wheeler fares have been revised as of today (Oct. 09).

According to Mr. Jeewinda Keerthiratne, who heads the three wheel bureau of the Road Passenger Transport Authority, the first kilometer remains at Rs. 100 while the second kilometer will be Rs. 85.

BIZ

Egg prices spike again

Published

7 days ago

October 9, 2024

editor

Egg prices have upped again after the recent price drop.

The price of an egg was seen reduced to Rs. 30 in local markets recently but had spiked to over Rs. 40 this week.

Chairman of Sri Lanka Livestock Producers Association – Ajith Gunasekara stated that several factors have impacted the relevant price hike.

Speaking at yesterday’s Cabinet briefing, Cabinet spokesman – Minister Vijitha Herath said that they are looking to stabilize the prices of chicken feed which will in return control egg prices.