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By Hiran H.Senewiratne CSE activities were positive yesterday because investors were expecting parliament to announce the Supreme Court decision on the Colombo Port City Bill today, stock market analysts said. It is said that the bourse had ended in red on previous days as the investor mood continued to be relatively pessimistic towards the pandemic. […]
by Sanath Nanayakkare
A former Deputy Governor of the Central Bank of Sri Lanka yesterday urged the country’s economic policymakers to develop and propose economic strategies and policies to benefit the overall economy in the medium to long term as their short-term measures such as import restrictions and excess money supply in the market through money printing could cause negative repercussions.
Dr. W.A. Wijewardena made this comment while speaking at a virtual presentation and panel discussion on the Sri Lanka Development Update 2021 launched by the World Bank.
“Increasing the money supply faster than the growth in real output will cause inflation. The money supply growth numbers so far warn us of an accelerated inflation. In fact, inflation in Sri Lanka is a ‘historical heritage’ which is higher than many global rates including the annual inflation rate in the US,” he said.
In a move that expresses confidence in Sri Lanka as a market for cutting edge nutraceutical products, Principle Healthcare UK has appointed industry veteran Elroy Fernando as their Regional Vice President for South East Asia.
Principle Healthcare commenced stand-alone operations in the country recently, having been known as a British brand catering to a wide spectrum of nutritional needs for over 3 years.
As their new Regional Vice President, Elroy Fernando counts over 20 years in the business of pharmaceuticals and nutraceuticals and is credited with building the portfolio of a leading vitamin brand in Sri Lanka. “Micronutrient deficiency is a global issue with high prevalence rates predominantly being recorded from developing countries such as Sri Lanka.” says Elroy Fernando, “Principle Healthcare is committed to delivering innovative new products that enhance the well-being and provide immunity support in order to alleviate nutrition-related diseases.”