The summons issued on ex-Central Bank Governor Ajith Nivard Cabraal were reissued today asking him to appear before the Colombo Magistrate Court on May 2, 2022.

Capital market operator, the Colombo Stock Exchange (CSE) today justified the need to close the market for an additional five days after the long holiday due for the Sinhala and Tamil New Year.

A debate has been sparked by the stock market watchdog Securities and Exchange Commission’s (SEC) decision to close the market for five days starting from today at the request of the board of directors of the Colombo Stock Exchange (CSE) and some s

As the government delegation is readying to meet the International Monetary Fund (IMF) officials today in Washington for programme support and other bilateral partners for bridge financing, the government is aware that the package from the Fund is no

Sri Lanka’s headline inflation measured by Hanke’s Annual Inflation Index hit a staggering 74 percent in the year through April 15, 2022 as prices from energy to staples to discretionary items received a jolt last month from the botched rupee flo

Sri Lanka’s unemployment rate fell to 4.6 percent in the fourth quarter in 2021, down from 5.2 percent in the third quarter and the same level stood a year ago, but the official data hides the true nature of Sri Lanka’s chronic labour market prob

Following up on a comment made at the monetary policy press conference on April 8, the Central Bank had slashed the dollar conversion and surrender rule to 25 percent from the 50 percent levels, which was effective from the fourth week of March as th

Nepal is asking citizens living abroad to deposit funds in domestic banks as part of efforts to ensure the financial system has enough liquidity and to preserve foreign exchange reserves, Finance Minister Janardan Sharma said on Saturday.

Sri Lanka’s sovereign rating could be in for ‘Default’ by Fitch and S&P Global Ratings as its first coupon payment in respect of the foreign currency debt comes due today (18th) since the government announced last week that it was going to a te

Sri Lanka’s listed corporate sector delivered yet another breakout quarter in the three months ended December 2021recording stellar growth, indicating that they had largely defied the macro-economic challenges, which came from the dollar and supply

Clarifying on its planned re-fleeting exercise, which has stirred much controversy, the national carrier SriLankan Airlines said all the aircraft leases will be funded through the airline’s current existing cash flows.

Fitch Ratings has downgraded the rating on SriLankan Airlines Limited’s (SLA) US$ 175 million government-guaranteed 7 percent unsecured bonds due 25 June 2024 to ‘C’ from ‘CC’.

In the absence of a functioning government and a subject minister in place, Sri Lanka’s private sector pharmaceutical importers who are already grappling with a severe foreign exchange shortage and an inefficient pricing mechanism fear a faster tha

Sri Lanka’s producer prices jumped 18.9 percent in the twelve months to February 2022, accelerating from the 17.3 percent in January, hitting a fresh high ahead of the rupee float causing runaway prices in the following month.

Fitch Ratings has revised the outlook on Sri Lanka’s banking sector to ‘Deteriorating’ from ‘Neutral’ as the fallout from the weakening sovereign credit profile and the worsening macro-economic conditions are expected to spillover into the

Diyatha Uyana was abuzz with local entrepreneurs at 120 stalls selling irresistible and exclusively Sri Lankan flavours, aromas, and innovations at the ‘SME Trade Fair 2022’ conducted recently by the Commercial Bank of Ceylon.

Amana Bank crossed the Rs. 100 billion milestone in customer deposits as of 1Q 2022 thereby becoming one of the fastest licensed commercial banks to reach this mark within a very short period.

PayMaster won the Gold Award for the Most Popular Fintech Payment App in Sri Lanka 2021at the recently concluded LankaPayTechnovation Awards 2022.

Kanrich Finance Limited, intending to deliver an advanced and highly efficient service to its trusted clientele, opened its newly relocated Nugegoda branch at Stanley Thilakaratne Mawatha, Nugegoda.

HNB PLC launched its highly anticipated ‘Singithi Jumbo Avurudu’ campaign for its minor savers during the festive month of Avurudu once again to inculcate the habit of saving from a young age.

Sri Lanka Insurance held the ‘MDRT Day 2022’ to award and recognize the MDRT achievers of Sri Lanka Insurance for the year 2021.

People’s Bank picked the first millionaire in ‘People’s Remittance Vaasi Kotiyai, Ewannai Dinannai’ draw where the monthly winner of February along with daily and weekly winners for the 3rd and 4th weeks of February were selected. Accordingly

Former Prime Minister and United National Parliamentarian Ranil Wickremesinghe warned that Sri Lanka could run out of fuel in the second week of May or later in the month, after the current Indian credit line is exhausted, plunging the country furthe

Weighing in on the recent rupee float, which has caused severe hardships to people, as prices rose by many multiples within a matter of weeks, the newly-appointed Central Bank Governor Dr. Nandalal Weerasinghe said how it was done raises questions at

Tundra Fonder, the Swedish-based asset manager specialising in frontier markets, recently pointed out how the botched rupee float under former Central Bank (CB) Governor Ajith Nivard Cabraal led to the rupee’s dramatic fall,

The yields of the Treasury bill auction yesterday jumped across the board to their highest levels in many years, in line with Friday’s 700-basis point rate hike by the Central Bank,

Sri Lanka’s essential food importers are struggling to settle US $ 50 million owed to their suppliers, imported under credit terms, due to the ongoing foreign exchange shortage while facing large exchange losses, owing to the depreciation of rupee.

Sri Lanka’s hope to revive its hard-hit tourism sector this year is likely to be shattered, as its key source market is exploring alternative destinations.

Nepal is tightening imports of cars, gold and cosmetics as its foreign exchange reserves have fallen, a central bank official said yesterday, after the government suspended the central bank governor and named his deputy the interim chief.

The private sector credit, which rose at a faster clip in 2021, has shown cracks during both January and February, as the monetary tightening and increasing macroeconomic uncertainty weighed heavily on the credit flows from banks to the real economy.