ECONOMYNEXT –The Asian Development Bank (ADB) expects Sri Lanka not to reverse its International Monetary Fund-led policy reforms despite elections soon, the ADB Country Director for Sri Lanka Takafumi Kadono said. The island nation has witnessed repeated reversals of policy reforms in the past due to greedy politicians who misled  the people to vote for […]

Several parliamentary committees have decided to summon Central Bank officials to inquire into the legal basis of the substantial salary hike granted to its employees.

As Pakistan grapples with the aftermath of controversial elections, political chaos is threatening to cloud its $3bn deal with the International Monetary Fund (IMF), which analysts say is key to the country’s economic stability. On Thursday, the global lender said Pakistan’s interim government had “maintained” economic stability. The IMF’s communications chief, Julie Kozack, said the […]

Sri Lanka’s inflation, measured by the National Consumer Price Index, increased to 6.5 percent in January from 4.2 percent reported in December 2023, the Department of Census and Statistics said on Wednesday. The department said the food inflation increased to 4.1 percent from 1.6 percent during the period while the inflation in the non-food category […]

Accelerated lending sees loan book grow by Rs 56.8 billion in 3 months Deposits surge by Rs 109.4 billion in final quarter 12-month gross income up 21.82% to Rs 341.6 billion The Commercial Bank of Ceylon Group lent Rs 56.816 billion in the fourth quarter of 2023 at a monthly average of Rs 18.939 billion […]

Great potential to increase solar power generation by Rathindr5a Kuruwita Rooftop solar power generation in Sri Lanka has exceeded 750 megawatts by the middle of February 2024, Ceylon Electricity Board (CEB) media spokesman Noel Priyantha said on Wednesday. Priyantha added that Sri Lanka has great potential in solar, wind and other forms of renewable energy. […]

A culture-based local solution for Sri Lanka BY Prof Nimal Gunatilleke The Thirty-seventh Session of the UN-FAO Regional Conference for Asia and the Pacific (APRC) is being held as a high-level Ministerial in-person event in Colombo, Sri Lanka from 19 – 22 February 2024. This was preceded by the Senior Officers Meeting (SOM) held virtually […]

Sri Lanka s inflation is expected to return to the government s 5% target starting from the last two quarters of the year, a Central Bank of Sri Lanka (CBSL) official said on Wednesday, as the economy stabilises from a crippling financial crisis.

Profit before Tax increases by 258% amidst external challenges Pan Asia Banking Corporation PLC reflected a steady performance amidst multitude of adversities emerging from challenging macro-economic conditions as the Bank reported its financial performance during 2023, which showed judicious portfolio management and prudency exercised in dealing with possible fallout on its asset quality in chall...

The Maldives is a strategically important nation in the Indian Ocean, now facing a high risk of debt distress due to its increasing proximity to China. The IMF has warned the Maldives that it needs to make urgent policy changes to avoid falling into debt. The Maldivian economy, which is heavily reliant on tourism, suffered […]

I became the first person to officially transact using UPI in Sri Lanka on February 12th 2024. In the presence of three heads of states/ governments. Leaders of India, Sri Lanka and Mauritius watched the transaction and celebrated its success with applause. So what is UPI ? How does it benefit indian consumers, merchants and […]

 … draws attention to discrepancy in beneficial interest rates for EPF members By Shamindra Ferdinando Dissident SLPP lawmaker Gevindu Cumaratunga yesterday (18) said that the Wickremesinghe-Rajapaksa government owed an explanation how the Governing Board of the Central Bank had approved a massive salary increase to CBSL employees at a time the country was experiencing developing […]

[…]The post Disturbing Echoes Of The Last Phase Of The Civil War In Sri Lanka & The Treatment Of Palestinians Under Zionist Occupation appeared first on Colombo Telegraph.

Sri Lanka’s inflation is anticipated to gradually stabilise around the targeted level of five per cent over the medium term, following a short-lived acceleration of inflation in the near term on account of the recent tax adjustments and supply-side disruptions, the Central Bank of Sri Lanka (CBSL) said in its monetary policy report for February. […]

Drought threatens until mid-April, urgent health and environmental measures required Weather in Sri Lanka will be drier than usual until mid-April due to El Niño and The Indian Ocean Dipole, Director General of Meteorology, Athula Karunanayake said. According to Karunanayake the country’s Met Department predicted these developments in 2023 and had urged the government to […]

By Saman Indrajith The government’s decision to give two million farming families freehold land deeds will lead to shanty towns popping up in most major towns in Sri Lanka, Pivithuru Hela Urumaya (PHU) leader Udaya Gammanpila said. Gammanpila added that President Ranil Wickremesinghe’s Urumaya Freehold Deed Programme could probably mark the end of Sri Lankan […]

The Central Bank of Sri Lanka released the Monetary Policy Report – February 2024 in keeping with the requirements of the Central Bank of Sri Lanka Act, No. 16 of 2023. The content of this Report is mainly based on information that was considered by the Monetary Policy Board of the Central Bank of Sri […]

India s main opposition political party- the Congress claimed on Friday (Feb 16) that all its bank accounts have been frozen. Addressing a press conference, Congress treasurer Ajay Maken said the accounts have been frozen ahead of the Lok Sabha elections.