The Central Bank (CBSL) says the country s trade deficit in May 2023 widened, compared to a year ago, for the first time since February 2022 while the cumulative trade deficit remained modest so far during 2023.

Banks, which pay taxes over 50%, least affected By Sanath Nanayakkare If the Employees’ Provident Fund (EPF) and other pension funds did not wish to participate in the proposed domestic debt restructuring process, there will be an application of higher annual income tax of 30%, Central Bank Governor Dr. Nandalal Weerasinghe said yesterday. The EPF […]

The World Bank yesterday (28) approved USD 700 million in budgetary and welfare support for Sri Lanka.This is the biggest funding infusion into the country since the International Monetary Fund (IMF) bailout package approved in March. Through this funding, the World Bank said it aims to help Sri Lanka implement foundational reforms that restore macroeconomic stability and sustainability, mitigate ...

The muted, panicked voice came through the phone of a friend who croaked she was very confidentially warning Cassandra and advising her. Yours truly was immediately panic infected. With deep emphasis and concern the friend took her time to advise that Cass withdraws all money from banks. Cass was for once glad she was poor […]

Friday 30th June, 2023 The government’s domestic debt restructuring plan is being revealed in dribs and drabs, and the public will have to wait until the weekend, when it is scheduled to be presented to Parliament, to see what it is really like. The Opposition has predicted doom, and the government has sought to make […]

Sri Lanka is asking foreign investors in its international sovereign bonds to take a 30% haircut and is seeking similar concessions from holders of its other dollar-denominated bonds as it seeks to restructure its massive debt, its central bank governor said on Thursday.

The World Bank approved $700 million in budgetary and welfare support for Sri Lanka on Thursday, the biggest funding tranche for the crisis-hit island nation since an International Monetary Fund (IMF) deal in March.

Mohammad Haris will lead Pakistan A in the eight-team Men’s Emerging Asia Cup, which will run from July 14 to 23 in Sri Lanka. Omar Yousuf has been named his deputy in the 15-member squad that includes the likes of Saim Ayub, Shahnawaz Dahani and Mohammad Wasim among others. Haris was part of the senior […]

By Shamindra Ferdinando SJB MP Dr. Harsha de Silva said that the all-party Committee on Public Finance (COPF) would have to examine the proposals presented by the Central Bank of Sri Lanka (CBSL) and the Treasury as regards the proposed domestic debt restructuring. COPF Chairman de Silva said that the CBSL and Treasury representatives appeared […]

The Committee on Public Finance (COPF) in Parliament today summoned officials of the Central Bank of Sri Lanka (CBSL), the Ministry of Finance and the Auditor General for the first session of discussions on proposed domestic debt restructuring process.

Sri Lanka will enter into an agreement with the World Bank for $500 million in budgetary support after the cabinet approved it on Tuesday, the biggest funding tranche for the crisis-hit nation since an International Monetary Fund deal in March.

By Rathindra Kuruwita A sinister attempt is being made in some quarters to trigger a run on banks and the five-day bank holiday is aimed at countering that move, State Minister of Finance Ranjith Siyambalapitiya has said. Siyambalapitiya, addressing the media, yesterday, assured that bank and other deposits and pension funds would not be affected […]

DFCC Bank recently held its Junior Creative Till Competition to raise awareness among kids about the importance of saving, whilst sparking their creativity. Featured here are some of the unique and creative tills brought to life by the talented kids who participated. The DFCC Junior Children’s savings account is DFCC Bank’s flagship minor savings account […]

President Ranil Wickremesinghe has assured that Sri Lanka has qualified for the assistance from the World Bank since all the required benchmarks for financial assistance from the WB have been fulfilled so far and that the Âmuch-needed funds will help strengthen the country s economy.

The CMA Sri Lanka COVID 19 SME Development Conference 2023 has been organized on the theme ‘Resurgence of Micro, Small, and Medium Enterprises and Entrepreneurship Development’ to celebrate United Nations – Micro, Small and Medium-Sized Enterprises Day to raise public awareness of their contribution to sustainable development and the global economy with the active participation […]

‘How can we sustain operations due to over 70 resignations in one year’ Airline Pilots Guild of Sri Lanka (ALPGSL) yesterday (25) said that the top Sri Lankan Airlines management should take responsibility for the pathetic situation that prevails in the national airline. Alleging that the crux of the matter is that over 70 pilots […]