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 […]

Sri Lanka s annual economic growth is expected to remain positive in 2024 and gradually reach its potential over the medium term, the Central Bank said in its latest monetary policy report.

Sri Lanka s spike in inflation is expected to be short-lived and will return to the targeted 5% in the medium term, a monetary policy report released by the central bank said on Thursday as the island nation s economy stabilises from a crippling financial crisis.

By Nimali Liyanage B.Sc. Accountancy (Sp.), FCA The broadening of the tax net and the removal of the Value Added Tax (VAT) exemptions have had a positive impact on the economy, but the government will not earn the expected tax revenue if some basic reconciliations cannot be done by the Inland Revenue Department’s (IRD) RAMIS […]

By Hemantha Randunu Piyum Hasthika alias Piyuma, a member of the gang led by a drug kingpin named Kudu Salindu, was extradited from Dubai yesterday.Hasthaka, 26, is supposed to have managed Salindu’s narcotics operations in Sri Lanka and Dubai. He had carried out several murders, arms trade, etc., on the instructions of Salindu. police said. […]

By Hiran H.Senewiratne Foreign and local investor participation in the CSE showed significant improvement yesterday due to a decline in Treasury bill yields, market analysts said. However, stock market activities were not strong due to depressing conditions in the political arena and because of the absence of market- driven activities, analysts said. The All Share […]

160 recipients of ‘RemitPlus’ remittances to win Rs 25,000 each from February to April Cash rewards totaling Rs 4 million are to be showered on Commercial Bank’s remittance customers in an early countdown to the Sinhala and Tamil New Year and Ramadan. Over eight weeks commencing February and ending on 9th April, Sri Lanka’s benchmark […]

The Weighted Average Yield Rates (WAYR) of Treasury Bills with a maturity period of both, 91 days and 182 days, have come down to single-digits at the Treasury Bill auction held today (14 Feb), according to the Central Bank of Sri Lanka (CBSL).

Dr. Elias Joseph Jeyarajah, represented the Global Tamil Forum (GTF) at the recent launch of district level workshops for ‘National Conversation’ based on the Himalaya Declaration. The first inter-religious coordination committee promoting conversations on the merits of the Himalaya Declaration was held in Kurunegala on February 09. In spite of opposition from various quarters, particularly [̷...

The Central Bank of Sri Lanka (CBSL) has announced the appointment of two new members to its Governing Board (GB).

Businesses can easily obtain QR codes by contacting their respective financial institutions and reaching a trade agreement, while all banks and financial institutions registered with the Central Bank of Sri Lanka (CBSL) are mandated to issue these codes, says CBSL s Director of Payments and Settlements.

At a media briefing  held at the Presidential Media Center(PMC) after the virtual launch of the Unified Payment Interface (UPI) today (12),  it was revealed that only three (03) transactions per active LankaQR merchant code had taken place in 2023. Director Payments and Settlements, Central Bank of Sri Lanka Wasantha  Alwis, said that LankaQR was […]