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Fri, 19 Apr 2024 Today's Paper
08 Mar 2024 - 1 - 239
In kicking off the second review under the Extended Fund Facility (EFF) programme yesterday, IMF highlighted that Sri Lanka’s economy has started to turn around with policy decisions taken under the programme translating into tangible outcomes. In the opening mee
07 Mar 2024 - 80 - 5650
The recent uproar over the Central Bank’s salary increases has caught widespread attention and according to Governor Dr. Nandalal Weerasinghe, this controversy is a deliberate attempt to undermine the institution’s autonomy.
06 Mar 2024 - 0 - 113
Sri Lanka’s export sector started 2024 on a subdued note, with revenues not reaching the US$ 1 billion mark. Despite....
05 Mar 2024 - 5 - 2241
A potential delay in securing an agreement-in-principle (AIP) with Sri Lanka’s private bondholders is unlikely to impact the second review of the International Monetary Fund (IMF) programme, former Central Bank Governor Dr. Indrajit Coomaraswamy said.
04 Mar 2024 - 8 - 2457
Tourist arrivals to the island nation surpassed the 200,000 mark for the third consecutive month this February, affirming Sri Lanka is regaining its position as a sought-after destination among its key source markets.
02 Mar 2024 - 0 - 562
Sri Lanka’s merchandise trade deficit in January widened to US $ 514 million, from US $ 445 million in the corresponding month of the previous year, due to a higher increase in imports.
01 Mar 2024 - 0 - 136
Consumer prices in Colombo rose at a slower pace in February compared to the previous month, indicating a slight dampening in the cost of living. Data from the Department of Census and Statistics (DCS) revealed that the Colombo Consumer Price Index (CCPI) recorded a year-on-year inflation rate of 5.9 percent in February, down from 6.4 percent in January. This decline follows two consecutive months of expansion in December 2023 and January 2024. T
01 Mar 2024 - 0 - 1488
The government on Wednesday expressed confidence in the upcoming International Monetary Fund (IMF) review going “smooth”.
29 Feb 2024 - 1 - 618
Sri Lanka’s women entrepreneurs, who have for long been held back, will soon be able to take the front seat as President Ranil Wickremesinghe this week pledged more would be done to allow this segment to increase their contribution to the national economy.
28 Feb 2024 - 7 - 1338
Businesses struggling to repay loans can now let out a sigh of relief as a Cabinet decision has been announced that prevents banks from opting for aggressive recovery measures.
27 Feb 2024 - 31 - 6322
The tourism sector stakeholders yesterday confirmed that Sri Lanka is witnessing an increasing trend of international visitors engaging in business activities and warned that the industry, in certain parts of the country, is impacted as a result.
26 Feb 2024 - 0 - 324
Foreign holdings in Sri Lanka’s government securities fell under Rs.100 billion last week, touching the lowest point since April last...
23 Feb 2024 - 19 - 4567
Sri Lanka’s banking sector is on the edge of following the government’s decision to suspend parate execution rights.
22 Feb 2024 - 3 - 639
Sri Lanka’s inflation expanded by 6.5 percent year-on-year in January, as the prices rose across almost all categories from the one-off impact from the higher Value Added Tax and supply chain disruptions caused by the weather-related conditions.
21 Feb 2024 - 1 - 423
While some borrowers have criticised the loan recovery methods of financial entities, the Central Bank (CB) has stated that under the proposed detailed guidelines for the establishment of Business Revival Units, borrowers can negotiate with their banks to stay financially afloat.
20 Feb 2024 - 6 - 1218
The resistance to restructuring the state-owned enterprises is a common narrative but the Ceylon Electricity Board Engineers Union (CEBEU) has made it clear that it is not opposed to reforms.
19 Feb 2024 - 30 - 2148
With a view to ensure continuity of businesses and job security of employees, the Central Bank (CB) has called for legal reforms to further strengthen Sri Lanka’s Parate execution law and other credit recovery laws in order to shorten the credit recovery cycle on par with global practices .
17 Feb 2024 - 1 - 92
The Sri Lanka Tourism Promotion Bureau (SLTPB) has announced plans to participate in all major international tourism events and conduct several road shows this year, with a budget of Rs.5.03 billion allocated for these activities. SLTPB Managing Director Nalin Perera stated that Sri Lanka aims to attract 2.3 million tourists this year, expecting to generate Rs.7.18 billion in revenue. This revenue target includes Rs.2.08 billion from the Tourism
16 Feb 2024 - 0 - 137
Sri Lanka’s economic recovery is gaining momentum, with the continuation of the International Monetary Fund (IMF) Extended Fund Facility (EFF) arrangement and progress on structural reforms being key factors, the Central Bank announced. However, the financial sector regulator warned that any disruption to this programme would incur significant economic costs, including growth setbacks, loss of confidence, and prolonged negative investor sentiment
16 Feb 2024 - 14 - 1260
Sri Lanka’s tourism sector is gearing up for a major transformation, as the authorities unveil an ambitious plan to make the country one of the world’s most dynamic and sought-after destinations.
15 Feb 2024 - 69 - 6416
14 Feb 2024 - 14 - 2152
Leasing and debt installment payers voiced concerns over Central Bank’s silence regarding the questionable practices of unregulated online loan providers in Sri Lanka.
13 Feb 2024 - 3 - 816
Sri Lanka’s dairy stakeholders urged the government to reconsider the decision to increase the Value Added Tax (VAT).
12 Feb 2024 - 5 - 1928
In a promising sign for Sri Lanka’s economy, tourism earnings soared to a pre-pandemic peak of US$ 341.8 million in January....
10 Feb 2024 - 0 - 95
The Sri Lankan Micro Small and Medium Chamber of Commerce continues to remain irked with the Central Bank for its strong position on parate execution and this time took a step further by alleging the governor is misleading the government and public in this regard. The chamber asserted that Central Bank Governor Dr. Nandalal Weerasinghe is painting the wrong picture regarding the execution data, w
09 Feb 2024 - 0 - 214
Sri Lanka’s banking sector yesterday welcomed the move by the Central Bank to relax the restrictions imposed on Standing Facilities to Licensed Commercial Banks (LCBs) under Open Market Operations (OMOs) as it will help improve liquidity. Sri La
08 Feb 2024 - 0 - 153
As Sri Lanka strives to come out of its debt vulnerability, the government assured efforts are underway to implement a debt restructuring framework within the first half of the year 2024. President Ranil Wickremesinghe, while detailing out the progress achieved in the nation’s economy since he took leadership, noted that the restructuring plan is poised to form the foundational framework for restoring Sri Lanka’s economy to normalcy. “It will ser
07 Feb 2024 - 1 - 707
Sri Lanka’s aspirations to become a maritime hub are facing setbacks due to delays in ratifying crucial maritime conventions and updating national legislation, according to a prominent maritime law expert.
06 Feb 2024 - 10 - 3060
Sri Lanka’s tourism industry marked a resounding start to the new year by receiving more than 200,000 international visitors throughout the month of January.
03 Feb 2024 - 0 - 180
Sri Lanka’s book industry yesterday came on to one platform and asserted that the imposition of an 18 percent Value Added Tax (VAT) on books is no different from slapping a tax on reading. The industry collectively called for an immediate reversal of the decision to tax the sale of books, as it serves as a direct barrier to gaining knowledge. Associations representing local publishers, printers, booksellers, importers, writers and academics highl
18 Apr 2024