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Port City Colombo is located in the metropolis of Colombo, Sri Lanka, which is positioned within South Asian trade routes. The master-planned city is to be constructed between the southern edge of the new Colombo South Port and the Fort Lighthouse. The total area of sea to be reclaimed is 269 ha (660 acres). [1] [2]
Soft-bullet covered bonds: payments have to be made when due according to the original schedule. Failure to pay on the SMD does not trigger covered bond default. The extension period grants more time (typically at least 12 months) to repay the covered bonds, setting a new Final Maturity Date (FMD).
The CSE trades 296 companies representing 20 business sectors, as of 25 January 2021, with a combined market capitalization of 3,699 billion Sri Lankan rupees. [ 1 ] On 1 September 2021, turnover surpassed 14 billion and the All Share Price Index (ASPI) surpassed 9000 points for the first time when it closed at a record high of 9,163.13 points.
The Accounting in Sri Lanka is regulated under the several legal regulations. There are several professional accountancy body in the country. The Sri Lanka Accounting and Auditing Standards Monitoring Board (SLAASMB) is the audit oversight entity, while the Auditor General of Sri Lanka has audit oversight over government all entities. [1]
The bill titled as Colombo Port City Economic Commission Bill is regarded as one of the important legislations to be passed in the Parliament of Sri Lanka as it is related to the Colombo Port City project, which is the biggest foreign investment received by Sri Lanka from China in the country's history. The bill was slated and deemed as ...
The current year places a heavy burden on Sri Lanka, with debt repayments amounting to approximately $4.5 billion, commencing with an initial payment of $500 million towards an international sovereign bond. Sri Lanka holds a position of significant importance in China's ambitious Belt and Road Initiative. [3]
The Central Bank of Sri Lanka was established in 1950, two years after independence. The founder governor of the Central Bank of Sri Lanka was John Exter, while the minister of finance at the time was J. R. Jayewardene. Under the former name of Central Bank of Ceylon, it replaced the Currency Board that until then had been responsible for ...
Sri Lanka is expecting a budget deficit of 9.4% of GDP in 2021 after the nominal output for the year was revised down following a Coronavirus pandemic in 2020. [122] A budget submitted to parliament originally expected a deficit of 8.9% in 2021 with a Coronavirus pandemic slowing growth, compounded by tax cuts. [ 123 ]