Too many housemaids, too few skilled workers By APSARA RODRIGO ECONOMYNEXT –There are indications of a growing mismatch between recruitment of Sri Lankan workers (supply) and global job vacancies (demand) in foreign employment, with increasing supply shortages – especially for skilled jobs, a World Bank report shows. “You have overseas workers that are sending remittances to […]

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) celebrated a remarkable showcase of excellence in corporate reporting at the TAGS Awards 2023 last Tuesday (12). Leading corporates, multinationals, SMEs, and non-profit organizations were honored for their commitment to producing outstanding annual corporate reports. With transparency, accountability, governance, and sustainabilit...

… explains how Parliament enacted harmful laws By Shamindra Ferdinando Veteran lawyer Kalyananda Thiranagama said that the ruling Sri Lanka Podujana Peremuna (SLPP) should be held responsible for backing President Ranil Wickremesinghe’s economic strategy meant to privatise the remaining state enterprises. Addressing a public gathering in Colombo, the liberal civil society activist emphasised that ...

President Ranil Wickremesinghe told Parliament yesterday that Sri Lanka was set to come out of bankruptcy by securing of the second tranche of the International Monetary Fund’s (IMF’s) Extended Fund Facility. “We will now focus on securing the foreign aid that was suspended after we declared bankruptcy,” the President said, making a special statement to Parliament […]

Sri Lanka extended restrictions on outward remittances by six months to manage foreign exchange reserves, cabinet spokesperson and transport minister Bandula Gunawardane told reporters at a weekly cabinet briefing on Tuesday.

Inflows recorded a monthly average of USD 507mn during the period Passport issuances ,however, showed some decline compared to 2022 Workers’ remittances have increased notably to USD 482.4 million in September 2023 in comparison to USD 359.3 million in September 2022, according to the quarterly bulletin of Worker Remittances and Labour Migration, Issued by the […]

Sri Lanka earned 205.3 million US dollars from tourism during the month of November 2023, which is over twice the amount in the corresponding month in 2022, the latest data by the Central Bank of Sri Lanka (CBSL) have revealed. The revenue from tourism in November 2022 was 81 million dollars, according to official data.The […]

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) shows.The workers remitted 537.3 million dollars in November 2023, up 40 percent from 384.4 million dollars in November 2022, CBSL data showed. Workers sent only 3.3 billion dollars in […]

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 […]

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 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).

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 […]

What has been widely described as the “historic” Supreme Court judgment which by a majority 4-1 decision of a five-judge bench held the Rajapaksa brothers, Mahinda, Gotabaya and Basil and other unelected officials including two past Governors of the Central Bank, a former Secretary to the President, a former Treasury Secretary and some members of […]