Income generated by tourism in Sri Lanka from January to the end of November reached 1.8 billion U.S. dollars, which is a 78.3 percent hike from the same period in 2022, the latest data by the Central Bank of Sri Lanka (CBSL) revealed.

Sri Lankan migrant workers have remitted 5.4 billion U.S. dollars in the first 11 months of 2023, the latest data released by the Central Bank of Sri Lanka (CBSL) has showed.

The Asian Development Bank (ADB) has approved a USD 200 million concessional loan for Sri Lanka to help stabilize the country s finance sector following the sovereign debt and economic crises that started in April 2022 after it suspended its external debt payments.

By Rathindra Kuruwita Sri Lanka has never been this transparent about an agreement it entered with the IMF, State Minister of Finance, Ranjith Siyambalapitiya says.Addressing calls for greater transparency in dealings with the IMF, Siyambalapitiya noted on Wednesday that Sri Lanka had engaged with the global lender on 16 previous occasions. The Cabinet of ministers […]

64th Mercantile Table Tennis Championship In a dazzling display of talent and fierce competition, the 64th Inter-Firm Table Tennis League Championship 2023, organized by the Mercantile Table Tennis Association of Sri Lanka, unfolded at the Kandy Municipal Council Indoor Stadium on Sunday, December 3rd. The tournament featured a spectacular lineup of matches across various divisions, […]

By Rathindra Kuruwita Dissident Sri Lanka Freedom Party (SLFP) MP, Dayasiri Jayasekera, has expressed concern over a potential 50% drop in the revenue of the Ceylon Petroleum Corporation (CPC) due to the entry of foreign companies into the petroleum market. Jayasekera highlighted the adverse impact of the policies of successive governments on the CPC. “The […]

Sri Lanka Under 19s will commence their Under 19 Asia Cup campaign against minnows Japan on Saturday, two days after the team land in Dubai. The Youth team left for Dubai yesterday. The team captained by Royal College batsman Sineth Jayawardena are the favourites alongside Bangladesh to advance to the knockout stage as they face associate […]

by Harim Peiris As we approach the end of 2023 and with about a year to go for the next presidential election due before end 2024, President Ranil Wickremesinghe’s frequent refrain and indeed the rationale for his administration is the revival of the national economy after it was spectacularly destroyed by his predecessor’s administration, ironically […]

The Cabinet of Ministers has green-lighted a proposal seeking to enter into necessary agreements with the World Bank to secure financing under the Sri Lanka Financial Sector Safety Net Strengthening Project.

Minister of Justice, Prison Affairs and Constitutional Reforms, Dr. Wijeyadasa Rajapakshe, on Monday, unveiled a plan to introduce a new legislative framework to regulate microfinance institutions in the country. The Minister told a press conference that a large number of unregistered microfinance outfits operated and the unregulated proliferation of such firms was a serious problem. […]

The Central Bank of Sri Lanka (CBSL) together with the Foreign Employment Bureau (SLBFE), through licensed commercial banks, commenced popularizing the new ÂManusavi Migrant Worker Loan Scheme from Monday (Dec.04).

Sri Lanka will get about $600 million, on a staggered basis, from the Asian Development Bank after the International Monetary Fund releases the second tranche of a $2.9 billion bailout for the crisis-hit country, an official said on Tuesday.

Minister of Justice, Prison Affairs and Constitutional Reform, Wijayadasa Rajapakse, unveiled plans to introduce a new legislative framework aimed at regulating microfinance institutions operating within the country. Expressing deep concern regarding the unregulated status of certain microfinance entities, Minister Rajapakse emphasized the necessity for decisive measures. He underscored the intent...

by Ifham Nizam Political instability is one of the biggest stumbling blocks when it comes to managing climate vulnerability, a senior climate scientist has warned. Speaking at a recent symposium titled ‘Poverty Alleviation in an Era of Economic Crisis’, former Director of the Natural Resources Management Centre (NRMC) of the Ministry of Agriculture Dr. Ranjith […]

Hirun recalled after impressive performance for St. Joseph’s by Reemus Fernando Trinity College spinner Dinuka Tennakoon has found a place in the Sri Lanka Under 19 team for the upcoming Under 19 Asia Cup while St. Joseph’s College opener Hirun Kapurubandara has been recalled after being sidelined for the previous youth assignment. Left-arm spinner Tennakoon […]

‘Politicians and public must behave better’ by Rathindra Kuruwita  Sri Lanka has done extremely well on the economic front during the last 18 months, says former Governor of the Central Bank of Sri Lanka (CBSL) Dr. Indrajit Coomaraswamy. Dr. Coomaraswamy revealed his assessment of the country’s economic recovery process while addressing a Centre of Poverty […]

ECONOMYNEXT –Sri Lanka’s non-performing loans after the latest currency crisis is showing signs of having peaked but some sectors are hit worse than others with problem loans dating back from Coronavirus moratoriums, a banking official said. Hotels, transport and arts and entertainment sectors had bad loans of 30 to 20 percent, while the overall level […]

Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100)1 increased to 3.4% in November 2023 from 1.5% in October 2023. This increase in the headline inflation is mostly in line with the projections envisaged by the Central Bank of Sri Lanka (CBSL) in November 2023. The Food […]

COYLE in collaboration with Nations Trust Bank PLC, marked a significant milestone on the 20th of November 2023 with the successful conclusion of its Leadership Forum themed, “People, Planet, Paradise”. The event, hosted at Taj Samudra, aimed to inspire and empower the thriving young professionals of Sri Lanka to embrace entrepreneurship by recognizing their pivotal […]