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Fri, 03 May 2024 Today's Paper
26 Mar 2024 - 12 - 1848
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 - 139
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 - 107
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 - 581
Sri Lanka has made significant progress, despite its circumstances, in implementing its ambitious reform agenda.
21 Mar 2024 - 0 - 332
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.
20 Mar 2024 - 0 - 140
The Asian Development Bank (ADB) yesterday announced the launch of a new country partnership strategy (CPS) for Sri Lanka....
19 Mar 2024 - 0 - 69
Sri Lanka’s small and medium enterprises (SMEs) are set to receive a significant boost, as the Asian Development Bank....
18 Mar 2024 - 0 - 128
Sri Lanka’s economy surged in the fourth quarter, marking a swift recovery from the prolonged recession that began 18 months ago. The growth rate exceeded expectations, outpacing third quarter’s performance. Sri Lanka’s full-year contraction narrowed to 2.3 percent, a significant improvement from the steeper 7.3 percent contraction recorded in 2022. According to the Census and Statistics Department which released the national accounts data for t
16 Mar 2024 - 0 - 96
Sri Lanka this week took a progressive step towards tackling period poverty, with the Selyn Foundation stepping up efforts to redefine access to menstrual hygiene and support for women across Sri Lanka. The Selyn Foundation this week unveiled its flagship #BleedGood initiative, which marked a pivotal moment in the fight against period poverty while championing sexual and reproductive health rights. #BleedGood encompasses an ecosystem of collecti
14 Mar 2024 - 2 - 932
The loan defaulters, who were recently successful in putting the parate rights on hold, yesterday made a fresh appeal to the authorities, urging them to extend the suspension for three years.
13 Mar 2024 - 2 - 312
Sri Lanka, renowned for its high-quality vein graphite, is poised to benefit from the increasing demand for “non-China origin” graphite driven by the global push towards electromobility and the US Green....
12 Mar 2024 - 1 - 795
Sri Lanka’s bankers vow to continue exercising mortgage actions against the defaulted creditors through the courts of law, once the suspension of the parate rights of banks comes into effect
11 Mar 2024 - 7 - 1428
In February, official foreign currency reserves inched up as the Central Bank maintained its efforts to shore up reserves by accumulating foreign currency from banks. This accumulation comes at a time when demand for foreign currency remains subdued compared to the ample supply from remittances, tourism, and robust exports.
08 Mar 2024 - 1 - 248
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 - 5664
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 - 117
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 - 2256
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 - 2477
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 - 572
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 - 142
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 - 1499
The government on Wednesday expressed confidence in the upcoming International Monetary Fund (IMF) review going “smooth”.
29 Feb 2024 - 1 - 631
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 - 1348
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 - 6339
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 - 333
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 - 4594
Sri Lanka’s banking sector is on the edge of following the government’s decision to suspend parate execution rights.
22 Feb 2024 - 3 - 652
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 - 435
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 - 1231
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 - 2162
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 .
02 May 2024