The Cabinet of Ministers approved the proposal presented by the President, in his capacity as the Minister of Investment Promotion, to designate the following companies as Secondary businesses of Strategic Importance and grant exemption or incentives to those companies from the Acts mentioned under Schedule II of Colombo Port City Economic Commission Act, and to […]

The World Bank has found that more than a quarter of Sri Lanka’s population is living in poverty,according to its latest publication. Titled ‘World Bank Update: Bridges to Recovery’ released last week (April 2) shows that poverty has increased over the past four years—from 11 percent in 2019 to almost 26 percent in 2024 in Sri Lanka. […]

President Ranil Wickremesinghe participating at the “Let’s Start with Me”  Kandy District Youth Conference held at the President’s House, Kandy on Sunday (07) stated that the legislation pertaining to the establishment of the new economy will be presented to Parliament in May and approved by June

The assistance of the Asian Development Bank (ADB) to help Sri Lanka recover from the crisis will be aligned with the strategic objectives of the Bank’s country partnership strategy (CPS) 2024–2028, Takafumi Kadono, Country Director, Sri Lanka Resident Mission, ADB said. Mr. Kadono made this comment at the ‘Serendipity Knowledge Programme’ (SKOP) held on April […]

LOLC Finance PLC, Sri Lanka’s premier Non-Banking Financial Institution (NBFI), has once again set a remarkable milestone in the digital finance landscape by clinching an outstanding five gold awards at the prestigious Lankapay Technnovation Awards 2024. This exceptional achievement fortifies LOLC Finance’s utmost expertise and innovation in the realm of digital financing, further emphasizing its ...

NPP/JVP pushes for one-to-one, SJB prefers team debate President Ranil Wickremesinghe has directed his Chief of Staff and National Security Advisor, Sagala Ratnayake, to ensure that ITN would live telecast the Sajith Premadasa – Anura Kumara Dissanayake debate on the economic policies of their parties. Political sources said that while the SJB had preferred a […]

Sri Lanka anticipates the third tranche of the International Monetary Fund (IMF) extended fund facility by June, according to State Minister of Finance Shehan Semasinghe. However, the country must first obtain consensus from the country’s creditors on restructuring its debt. “We anticipate the third tranche by June. That’s the standard procedure. After a review, there’s […]

By Rathindra Kuruwita The GL Peiris-led splinter group of the SLPP, the Nidahasa Janatha Sabawa (NJS), has signed an MOU with the Samagi Jana Balawegaya (SJB) to form an alliance in view of upcoming elections on Friday (05). Six NJS MPs, namely, Professor Peiris, Dilan Perera, K.P. Kumarasiri, Upali Galappatty, Wasantha Yapa Bandara and  Nalaka […]

Sunrisers Hyderabad legspinner Wanidu Hasaranga has been ruled out of IPL 2024 because of chronic heel pain in his left foot. Hasaranga had not yet joined the Sunrisers squad and ESPNcricinfo has learned that Sri Lanka Cricket (SLC) informed BCCI of his unavailability for the season. There’s been no confirmation on a replacement for Hasaranga […]

Sri Lanka’s economy is projected to see moderate growth of 2.2% in 2024, showing signs of stabilization, following the severe economic downturn of 2022. But, the country still faces elevated poverty levels, income inequality, and labor market concerns, says the World Bank’s latest bi-annual

By Lynn Ockersz ‘Sri Lankans are very good at writing plans but nothing very positive has resulted from these efforts over the years. Nevertheless, the country needs a new system of planning and an essential requirement for this is a sound institutional framework coupled with good governance, chairman of the Gamani Corea Foundation (GCF) and […]

President Ranil Wickremesinghe emphasized that the government s prudent decisions over the past two years have bolstered the nation s economy, providing a favourable environment for political activities on the streets.

By Sanath Nanayakkare Minister of State for Finance Shehan Semasinghe said on Monday that the government is aware of the low deposit interest rate senior citizens are earning on their savings as the policy rates are taking a downward trajectory amid declining inflation and expanded economic activity. He, however, said that interest rate relief cannot […]

President Ranil Wickremesinghe has announced the formation of an Agricultural Modernization Organization Council, which will be chaired by both the President and Prime Minister. The primary objective of this council will be to oversee the restructuring of ministries, institutions, and organizations associated with agriculture in Sri Lanka. President Wickremesinghe made this announcement during a p...

his commitment to bolstering the nation’s economy through the establishment of […]

In the midst of rising tensions between Islamabad and Kabul, the Defense Minister of Pakistan has issued a stern warning to the Taliban government in Afghanistan. Khwaja Asif, in an interview with Voice of America on March 20, hinted at the possibility of Pakistan blocking the trade corridor that facilitates goods flow between Afghanistan and […]

Money, exchange rates, and money printing are crucial components of a nation’s monetary policy framework, wielding significant influence over economic and financial stability. This intricate relationship between these fundamental factors directly affects financial and economic dynamics. I am going to examine the nexus between these factors, clarifying their roles in the financial system and ...