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Sat, 27 Apr 2024 Today's Paper
27 Apr 2024 - 7 - 586
The government has been sitting on an expert committee report on how to permit oil palm cultivation in identified Mahaweli areas and other areas, without deciding for nearly five months. According to the Agriculture and Plantation Industries Ministry, the ministry forwarded the report to the secretary to the Cabinet of Ministers on January 12. In November 2022, the Cabinet of Ministers decided to appoint an expert committee to explore the possibi
26 Apr 2024 - 0 - 389
As a testament to Sri Lanka’s comeback in tourism and returning investor confidence, India’s luxury hotel giant yesterday launched its first ever international venture, US$ 500 million investment ITC Ratnadipa in the iconic Colombo
26 Apr 2024 - 0 - 21
Central Bank Governor Dr. P Nandalal Weerasinghe yesterday presented its Annual Economic Review 2023 and Financial Statements and Operations to President Ranil Wickremesinghe, who’s also the Minister of Finance, Economic Stabilisation and National Policies.
25 Apr 2024 - 0 - 119
Sri Lanka’s apparel sector is witnessing a resurgence of interest, as brands reassess their purchasing strategies and are on the lookout for safe and secure homes to place their orders. The Joint Apparel Association Forum (JAAF) shared that the apparel manufacturers have had several high-profile visits from brands, as buyers are returning to the country to meet with the suppliers and to work on long-range plans with their suppliers. “This augurs
24 Apr 2024 - 6 - 1121
A top economist yesterday raised concerns over the “loosening of fiscal squeeze” by authorities to stimulate economic growth. Since doing so could lead to potential risks of jeopardising Sri Lanka’s agreements with the International Monetary Fund (IMF).
23 Apr 2024 - 7 - 608
The consumer prices measured by the broader National Consumer Price Index (NCPI) continued to soften in March, as the non-food prices cooled sharply while the food prices remained unchanged from a year ago.
22 Apr 2024 - 10 - 2516
The often watched market lending rate, which guides the rest of the rates on loans to small businesses to mortgages to consumers, touched a two-year low last week continuing its descent.
20 Apr 2024 - 0 - 63
The International Monetary Fund (IMF) this week commended Sri Lanka for going forward and being successful to a great extent to implement the “ambitious” programme; however, it cautioned that the road ahead is till bumpy. IMF Director Asia and Pacific Department Krishna Srinivasan asserted that the programme is bearing fruit. When Sri Lanka embarked on this adjustment programme, it had its back to the wall but now signs of early recovery are see
19 Apr 2024 - 7 - 955
Possible delays in reaching an agreement (in principle) with private bondholders is unlikely to impact the disbursement of the third tranche under IMF’s US$ 3billion bailout package, given negotiations are moving ahead in good faith, Former Governor of Central Bank (CB) and renowned economist, Dr. Indrajit Coomaraswamy said.
18 Apr 2024 - 1 - 1013
The mounting tensions in the Middle East that are becoming increasingly unpredictable are likely to impact the Ceylon Tea cuppa, the industry stakeholders said, especially since over 50 percent of the island nation’s tea is exported to that region.
17 Apr 2024 - 0 - 352
Economists yesterday cautioned that Sri Lanka failing to reach an agreement with its bondholders on restructuring terms within the set deadline....
16 Apr 2024 - 12 - 3229
Sri Lanka’s celebrity chocolatier, chef and agriculture enthusiast Gerard Mendis faces an uphill battle in his bid to take single-origin Sri Lankan chocolates global. This is primarily due to the shortage of cocoa beans and absence of active cooperation of authorities.
11 Apr 2024 - 4 - 1411
Extending the growth momentum, the international tourist arrivals to Sri Lanka crossed the 50,000 mark during the first nine days of April.
10 Apr 2024 - 1 - 1528
Sri Lanka’s labour force participation rate hit a new low in 2023, the recently published Labour Force Survey (LFS) annual bulletin highlighted.
09 Apr 2024 - 2 - 1175
The Small Medium Modern Trade (SMMT) outlets are rapidly capturing the attention of Sri Lanka’s middle class, with the traditional retailers swiftly adapting to this shifting retail landscape.
08 Apr 2024 - 7 - 1037
Sri Lanka’s tourism sector is expecting a multiplier effect across all key source markets following United Kingdom’s recent update on the travel advisory for Sri Lanka, which will immediately result in a significant boost in tourist arrivals in the upcoming summer season.
06 Apr 2024 - 4 - 3043
Sri Lanka climbed two spots in the latest United Nations Conference on Trade and Development’s (UNCATD) Liner Shipping Connectivity Index (LSCI), becoming the 22nd best connected country in the world.
05 Apr 2024 - 3 - 631
It is essential for the reforms planned for the government owned entities to go ahead without further disruptions, else it is the general public that will continue to take on the burden, State Owned Enterprises Restructuring Unit (SOERU) Head Suresh Shah said.
04 Apr 2024 - 0 - 90
The Asian Development Bank (ADB) yesterday pledged its support to help Sri Lanka steer through the ongoing reform process; however, it noted that there needs to be “realistic expectations”. Acknowledging that Sri Lanka is at the initial stages of implementing challenging reforms within a tight time-frame, the ADB emphasised the need for a more sustainable approach to their implementation. “There needs to be a realistic expect
03 Apr 2024 - 7 - 464
As Sri Lanka is looking to leave behind the effects of the crisis and move towards development, sustained reform implementation is essential for Sri Lanka to have a stronger and more resilient economy, the World Bank said yesterday.
02 Apr 2024 - 26 - 6289
Five leading export associations have called on the authorities to tackle the pressing challenges posed by the Sri Lankan rupee’s appreciation against the US dollar.
01 Apr 2024 - 4 - 740
The deficit in the trade account of the Balance of Payment (BoP) widened in February from a year ago on higher imports as the economy normalises.
29 Mar 2024 - 5 - 575
Headline Inflation, as measured by the Colombo Consumer Price Index (CCPI), dropped to 0.9 percent in March 2024 from 5.9 percent in February, data from the Department of Census and Statistics (DCS) showed.
28 Mar 2024 - 2 - 1006
The Central Bank has been caught off guard by the break in the months-long expansion seen in the private sector credit in January and considered it to be a one-off development and attributed it to the appreciation of the rupee and after-season settlement of facilities by the borrowers.
27 Mar 2024 - 8 - 1166
The Central Bank yesterday resumed cuts by further reducing key policy rates by 50 basis points as inflation remains anchored.
26 Mar 2024 - 12 - 1841
Sri Lanka, coming out of the economic crisis, has significantly taxed businesses and individuals alike and according to the International Monetary Fund (IMF), this burden is here to stay, at least for now.
25 Mar 2024 - 1 - 135
Sri Lanka’s merchandise exports in February increased marginally by 0.17 percent Year-on-Year (YoY) and 1.3 percent from....
23 Mar 2024 - 0 - 103
While Sri Lanka is gearing up for elections this year, which could result in uncertainties, the International Monetary Fund (IMF) cautioned that it is absolutely key that the programme objectives are achieved, because with those, Sri Lanka has a chance of emerging from the crisis. “The path is a knife-edge path. We have to remember that. So, yes, we acknowledge in our press report the green shoots that we see for the economy and that’s the beginn
22 Mar 2024 - 4 - 574
Sri Lanka has made significant progress, despite its circumstances, in implementing its ambitious reform agenda.
21 Mar 2024 - 0 - 326
The senior representatives of the financial sector yesterday raised significant concerns about the government’s commitment to enacting the necessary legislation for the introduction of a central bank digital currency (CBDC) in Sri Lanka.
27 Apr 2024