Sri Lanka yesterday saw the establishment of a Presidential Task Force to help the country transition to a green socio-economy with sustainable solutions to climate change.

The Employees’ Provident Fund (EPF), Sri Lanka’s largest retirement savings fund, grew by 11.2 percent or Rs.283.9 billion in assets in 2020, albeit the returns afforded to the member accounts slipped amid the fast descent seen in the country’s

While calling for wide stakeholder consultations in implementing the announced ban on chemical fertilizers and agrochemicals in Sri Lanka, the country’s tea, rubber, coconut and fruit & vegetable growers in commercial agriculture warned of far reac

For the first time since the current dovish policy run began in January 2020, the Central Bank recently insinuated that at which point it could either end or reduce providing more gas by way of monetary stimulus, which was unleashed to power the curr

The Central Bank says it would put in place a five-year consolidation plan for the non-bank financial institution (NBFI) sector, embarking on a time-bound execution framework to reduce the number of finance companies to 25 from the current 40.

NBFI sector NPLs rose sharply to 13.9% in 2020, from 10.6% in 2019, steadily rising from 5.3% in 2016 Sri Lanka is planning to set up a dedicated institution where the banks can sell their distressed assets for third party institutions for their sepa

The State sector borrowings soared in March as salaries and bonuses fell due for the country’s bloated public sector while supplier bills needed settlement ahead of New Year holidays.

Sri Lanka’s fiscal deficit for 2020 exceeded both the deficit target for the year and the deficit in 2019, as the pandemic-induced economic disruptions put a strain on revenues, while the tax cuts failed to produce their desired economic resurgence

Remittance incomes from Sri Lankans working abroad continued its climb for the eleventh consecutive month as March earnings accelerated over 24 percent over the same month in 2020, marking the recent highest jump since the current run began in May la

In terms of Section 35 of the Monetary Law Act No. 58 of 1949, the seventy first annual report of the Monetary Board of the Central Bank of Sri Lanka was presented to Prime Minister and Finance Minister Mahinda Rajapaksa by Central Bank Governor Desh

The private sector stakeholders of the tourism sector continue to advocate halting the amendments to the current Tourism Act, however should the legislation governing the industry be changed, the sector players said it is essential for the relevant a

Sri Lanka’s merchandise export earnings nearly touched the US $ 3 billion mark in the first quarter of the year, after March earnings topped US $ 1 billion for the first time since last September.

A record amount of money has been raised by Sri Lankan companies as historically low interest rates have drawn them to the debt capital market, looking for the best deal in town with the aim of locking in low cost funds at least for the next five to

The Monetary Board of the Central Bank has issued priority sector lending targets to banks as part of its wide-ranging efforts to direct funding to the sectors identified as priority and deemed as high potential in generating jobs, export earnings an

With the suspension of the inaugural flight to Kushinagar Airport, India, it is likely that the travel bubble pursued between Sri Lanka and India to boost tourism be put on hold.

A leading Chinese academic and free trade zone expert urged Sri Lanka to consider joining the newly formed multilateral trade pact, the Regional Comprehensive Economic Partnership (RCEP), to reap the full benefits of China’s Belt and Road Initiativ

The Central Bank (CB) plans to raise up to record US $ 750 million in Sri Lanka Development Bonds (Treasury Bonds denominated in US dollars) ahead of the US $ 694 million SLDB maturity scheduled for May 1, this year.

The Colombo Port City (CPC) project is estimated to add a mammoth US$ 30 billion in fresh economic output to Sri Lanka’s gross domestic product through 2041, propelling the country towards the developed country club, according to a study by Pricewa

Sri Lanka’s producers are beginning to feel higher cost of production, potentially activating what could be a vicious cycle of higher producer prices,

State Minister of Money & Capital Markets and State Enterprise Reforms, Ajith Nivard Cabraal expects Sri Lankan rupee to stabilise at Rs.175-Rs.180 range against US dollar by end of this year, supported by anticipated boost from proposed increase in

While dismissing claims on Colombo Port City (CPC) is on the verge of becoming a Chinese colony and concerns on potential money laundering activities, Money and Capital Markets and State Enterprise Reforms State Minister Ajith Nivard Cabraal defended

The Central Bank has extended the suspension on banks from purchasing Sri Lanka-issued international sovereign bonds (SLISBs) till April 23 in a bid to ward off the pressure on the rupee.

The prime lending rate touched a fresh low last week after the Monetary Board said it would maintain the current accommodative monetary policy, reaffirming markets that low interest rates are required to further support the current revival seen in th

The key stakeholders of the local tourism industry yesterday slammed the Sri Lanka Tourism Development Authority (SLTDA) for pushing the drafting of a new Tourism Act, without consulting the private sector.

The Monetary Board of the Central Bank yesterday left policy interest rates unchanged at current levels as the economy appears have responded positively to earlier measures taken to provide extraordinary support to individuals and businesses beset by

The government expects the legislation of the Colombo Port City Economic Commission Bill to be completed before end of this month, which will declare Colombo Port City (CPC) as a Special Economic Zone (SEZ), while granting sweeping powers to the prop

Sri Lanka’s oil palm growers seek clarity on the announced plan to uproot their cultivations, while cautioning such a policy reversal, which drastically undermines investor confidence, could paralyse the progress of the country’s agriculture sect

The Urban Development Authority (UDA) has called request for proposals (RFPs) for a high-rise mixed-development project on the 1.47-hectare Dematagoda junction land (537 Watta), with an expected investment of Rs.15 billion.

Sri Lanka’s unemployment rate declined after reaching a multi-year high in the third quarter of last year, as companies started re-hiring people who were furloughed or had lost their jobs due to the pandemic as the economy gathers steam with virus

State-owned power utility Ceylon Electricity Board (CEB), which is the country’s monopoly electricity transmitter and distributor, is gearing to raise up to Rs.20 billion through a listed debenture issue on the Colombo Stock Exchange (CSE).