The Asian Development Bank (ADB) on Wednesday said it has approved Sri Lanka s eligibility to access concessional financing.

Sri Lanka s official reserve assets stood at USD 3,483 million in May 2023, according to the Central Bank of Sri Lanka (CBSL).

New laws contemplated by the government appears to have caused much concern among Opposition political parties for obvious reasons. The constitutionality of the proposed Broadcasting Authority Bill is expected to be challenged in the Supreme Court. The whole process of law making raised quite a stir in the wake of the recent shocking Supreme Court […]

‘Bio-diversity prospecting is a very risky area, and therefore, it has to be done right’ ‘Many good consultations needed before Sri Lanka can go for climate bonds’ Forum aims at combining profitability with ecosystem conservation and regeneration by Sanath Nanayakkare Bringing together a collection of global good practices in investing in natural capital, the Asian […]

‘Broadcasting Authority a political mechanism led by Media Secretary’ By Shamindra Ferdinando Top Opposition spokesman Prof. G. L. Peiris yesterday (05) alleged that President Ranil Wickremesinghe intended to silence television and radio stations through the proposed Broadcasting Authority Bill (BAB). The former External Affairs Minister asserted that the BAB was part of a destructive political [&...

By Rathindra Kuruwita The Sri Lankan government was not allocating funds to ensure the availability of essential public goods despite the gradual stabilisation of the economy, Prof. Priyanga Dunusinghe, of Department of Economics at the Colombo University said addressing the media. “The government has to maintain roads, provide healthcare and education, security, etc. I don’t […]

The Sectoral Oversight Committee on Foreign Employment and Labour has recently directed the Central Bank to submit a report detailing the institutions in which funds belonging to the Employees Provident Fund (EPF) have been invested. In addition, the committee has decided to summon experts to propose a systematic approach for utilizing EPF funds. Under the […]

Representing Sri Lanka at the 14th International Infrastructure Investment and Construction Forum (14th IIICF) Friday (02), Minister of Ports, Shipping and Aviation – Nimal Siripala de Silva said that under the leadership of President Ranil Wickremesinghe, the government was dedicated to driving the digitalization initiative forward under name ‘DIGIECON 2030’, signifying a pivotal step towards [&#...

By Rathindra Kuruwita All laws introduced by the incumbent government were aimed at weakening democracy, Education Secretary of the Frontline Socialist Party (FSP), Pubudu Jayagoda said yesterday in Colombo, citing as examples the Bureau of Rehabilitation Bill, the Central Bank Bill, and theAnti-Terrorism Bill. They contained provisions inconsistent with the Constitution, he said. The Rehabilitati...

Ayodhya Iddawela Perera took over as the next Managing Director of Sampath Bank PLC effective from the 1st of July 2023. She succeeded the incumbent Managing Director, Nanda Fernando, who will conclude his term in office on the 30th of June 2023, leaving behind a legacy of commitment, excellence, and service to the Bank. Having […]

The Criminal Investigation Department (CID) has arrested three employees of a state bank in Oddamavadi for stealing pawned gold jewellery to the tune of LKR 20 million.

At the briefing on the progress of Climate Change and Green Growth held on Wednesday (31) at the Presidential Secretariat in Colombo between President Ranil Wickremesinghe and officials of the Climate Change Secretariat led by President’s Adviser on Climate Change  Ruwan Wijewardene it was revealed that the Climate Change University would be launched next year […]

FAO/WFP Crop and Food Security Assessment Mission (CFSAM), has recommended to the government to make available fertilisers to farmers to strengthen the ongoing Yala production and to make urgent provisions to ensure fertiliser availability for the 2023/24 Maha season.In a recent report, following the mission, the FAO/WFP said fertilisers are available in stock, and thus […]

The Monetary Board of the Central Bank of Sri Lanka decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 250 basis points to 13.00 per cent and 14.00 per cent, respectively, CBSL said in a statement on Thursday. The decision was taken at […]

The Colombo Consumer Price Index (CCPI) indicates that Sri Lanka’s inflation rate had eased to 25.2 percent in May from 35.3 percent in April, the President’s Media Division (PMD) said on Wednesday. This reduction in inflation provides some relief to the crisis-hit economy, which has been severely impacted by a foreign exchange crisis, leading to […]

By Shyam Nuwan Ganewatta Sri Lanka’s economy would recover at a rapid pace in the second half of 2023, Central Bank Governor, Dr. Nandalal Weerasinghe said yesterday addressing a press conference in Colombo.Dr. Weerasinghe also said that the inflation would drop to a single digit by the end of July 2023. Strict fiscal and monetary […]

Dr. Harsha Cabral, Chairman of the National Savings Bank, formally presented the bank’s annual report for the year 2022 to Minister of Finance, Economic Stabilization & National Policies President Ranil Wickremesinghe at the Presidential Secretariat on Thursday (01). The report, titled “Strengthening Our Strength,” provides an integrated overview of the bank’s performance within the economic [...