Sri Lanka saw a notable increase in workers remittances and a boost in tourist arrivals in July 2023, the Central Bank of Sri Lanka (CBSL) says.

People’s Bank today announced the results for its six months ended June 30, 2023 reporting total consolidated operating income and pre-tax profit amounting to LKR 48.2 billion and LKR 9.4 billion, respectively (1H -2022: LKR 80.7 billion and LKR 15.2 billion). Due to higher interest costs; stemming from the high interest rate environment which prevailed […]

The highly anticipated annual event celebrating Sri Lanka’s Most Admired Companies (MAC Awards) for 2022 took place recently, captivating an audience of distinguished corporate leaders and esteemed diplomats. The award ceremony, organized by ICC Sri Lanka, AICPA & CIMA and DailyFT unveiled and recognized the exceptional accomplishments of these top-ranking companies in the country. The [...

State banks are in operation today (Aug. 30) despite it being a Poya day. Thereby, all branches of Bank of Ceylon (BOC), People s Bank and National Savings Bank (NSB) are kept open from 8.00 a.m. to 5.00 p.m.

By Shamindra Ferdinando Justice Minister Dr. Wijeyadasa Rajapakse, PC, declared in Parliament that the winners of LPL (Lanka Premier League) 2023 B-Love Kandy had been sponsored by an enterprise that was banned in the country. The statement was made in Parliament on 24th August. The one-time President of the Bar Association found fault with SLC […]

Minister of State for Finance, Shehan Semasinghe, during a press conference held today (29) at the Presidential Media Center under the theme ‘Collective Path to a Stable Country’ said that among the 2 million Aswesuma beneficiary families, phased payments have commenced for 1.5 million families and in the first phase, a total of Rs. 4.395 […]

Beijing [China], August 19 (ANI): Raising concerns regarding the financial crisis triggered by the downturn in China’s real estate market, Chinese investment firm Zhongrong Trust , which managed USD 87 billion worth of funds for corporate clients and wealthy individuals as of the end of 2022, had failed to pay the interest and principal on […]

by Laura He China has long been the engine of global growth. But in recent weeks, its economic slowdown has alarmed international leaders and investors who are no longer counting on it to be a bulwark against weakness elsewhere. In fact, for the first time in decades, the world’s second economy is itself the problem. Hong Kong’s Hang […]

Tuesday 29th August, 2023 Has Sri Lanka, which was once known as the Granary of the East become the Poison Dump of the East? A study carried out by the Centre for Environmental Justice (CEJ) has revealed that 40 out of 139 pesticides used in this country are highly hazardous and cause serious diseases such […]

The Colombo Fort Magistrate’s Court issued an order preventing several political party representatives, including Duminda Nagamuwa (FSP), Mujibur Rahman (SJB), Prof. Charitha Herath (SLPP rebel group) and others, from entering several areas in Colombo on Monday (28). Accordingly, the order has prohibited the relevant individuals from entering the premises of the Presidential Secretariat, President...

The Central Bank of Sri Lanka (CBSL) has issued a statement clarifying that it had offered to meet with representatives of the protesters demonstrating near the Fort Railway Station in Colombo today, to discuss Domestic Debt Optimisation (DDO) programme.

Stating that multiple challenges confront the G20 grouping, External Affairs Minister S Jaishankar said that India adopted an unconventional approach to its Presidency, making it much more connected with people. A major highlight of the second day of the Think20 (T20) Summit in Mysuru on Tuesday was a virtual address by Jaishankar, followed by a […]

Small and Medium Enterprises (SMEs) is considered the backbone of the country’s economy and is a diverse sector, that massively supports Sri Lanka’s socio-economic development. The sector largely contributes to the country’s GDP and acts as the main employment provider. Over 25 years, Union Bank has provided its services to support and develop SMEs across […]

The Central Bank of Sri Lanka (CBSL) has informed the general public that the CBSL does not collect taxes from the people on any occasion.

JVP-led NPP leader Anura Kumara Dissanayake on Saturday said that Sri Lanka had lost its financial sovereignty to the International Monetary Fund (IMF), which, he said, was overriding Parliament’s power over taxation and fiscal policies. Addressing a seminar organised by JVP’s Bhikkhu wing the National Bhikkhu Front, at the Foundation Institute in Colombo, Dissanayake said […]

KARACHI: Pakistan’s total debt and liabilities rose by 29 percent to Rs77.1 trillion in the fiscal year that ended on June 30, the central bank said on Wednesday, as the government borrowed heavily to finance its spending requirements. At the end of the last fiscal year, the country’s debt and liabilities, including domestic and foreign, […]

With the provision of additional $2 billion time deposits from the Kingdom of Saudi Arabia (KSA) and $508 million as a guaranteed loan from China for Pakistan Air Force to inject “Dragon” multirole fighter aircraft Pakistan’s total foreign loans jumped up to $2.8 billion during the first month (July 2023) of the current fiscal year. […]

By Ramnath Reghunadhan During July-August 2023, the People’s Republic of China (PRC) was hit by heavy rainfall and devastating floods, caused by the remnants of Typhoon Doksuri, which saw widespread destruction of many cities in the country’s northern as well as southern regions. The flooding was the result of what is considered to be the […]

Islamabad [Pakistan], August 17 (ANI): Pakistan’s total debt and liabilities have risen by 29 per cent to Rs 56.21 trillion in the fiscal year that ended on June 30, the country’s central bank said on Wednesday. This comes as the government borrowed heavily to finance its spending requirements, as per Dawn. Pakistan’s debt and liabilities […]

The Central Bank of Sri Lanka (CBSL) has issued an order reducing the interest rates on lending products of all licensed commercial banks with effect from August 25.