By Neville Ladduwahetty During President Ranil Wickremesinghe’s India visit in July 2023, five Memorandums of Understanding (MOU) were signed by India and Sri Lanka to establish physical connections between the two countries. This was followed more recently by the launch of the Unified Payments Interface (UPI) – a mechanism that claims to reduce the cost […]

Sri Lanka has recorded an over 16 percent increase in workers remittances while tourism earnings has increased by nearly 114 percent in February 2024 compared to the previous year, according to the latest data from the Central Bank of Sri Lanka (CBSL).

The gross salary of the lowest ranking employee of the Central Bank of Sri Lanka (CBSL), an Office Assistant – Grade 1, has been increased by 29.53% up to Rs. 188,827 in accordance with a collective agreement, Prime Minister Dinesh Gunawardane told Parliament yesterday. Responding to a question by SJB Colombo District MP S. M. […]

Prime Minister Dinesh Gunawardena detailed the recent salary hikes of those employed at the Central Bank of Sri Lanka (CBSL).

Central Bank pay hike controversy: By Saman Indrajith The MPs who met a group of officials from the Central Bank of Sri Lanka (CBSL) yesterday found that the controversial salary increments of the CBSL workers had been based on a collective agreement. Some of the MPs argued that the collective agreement should be abolished. The meeting […]

Reaffirming its customer-centric focus, the Truly Sri Lankan Bank, Pan Asia Bank, has forged a strategic partnership with AIA Insurance Lanka, to provide comprehensive insurance solutions – including protection, health and investment solutions – that meet the changing needs of the Bank’s valued consumers. Expressing his enthusiasm about the new partnership, Naleen Edirisinghe, CEO of [...

Janashakthi Life, a member of the Janashakthi Group, announces the appointment of Dilip de S. Wijeyeratne as an Independent, Non-Executive Director to the Company’s Board of Directors, effective from 14th February 2024. Dilip de S. Wijeyeratne is a senior finance/banking professional and a principal consultant who provides advisory services to companies globally to expand operations […]

By Ifham Nizam Following a request made by World Bank officials, Department of Agriculture, Director General Ms. Malathi Parasuraman has submitted a work order, prepared by the Department of Agriculture, to double the paddy yield in the country within six growing seasons. Agriculture and Plantation Industries Minister Mahinda Amaraweera said that the World Bank has […]

In addition to the officials and categories of individuals required to disclose their assets and liabilities as specified in the amended Declaration of Assets and Liabilities Law No. 01 of 1975 by Act No. 74 of 1988, Section 80 of the Anti-Corruption Act No. 09 of 2023 introduces provisions for further disclosure by various other […]

The Cabinet of  Ministers approved the proposal made by the Minister of Irrigation to provide 0.99 hectares each on the water surface of the Chandrika wewa Reservoir located in the Embilipitiya Divisional Secretariat Area and the water surface of the Kiriibban wewa Reservoir located in Sewanagala Divisional Secretariat Area and plots of 0.1 hectares each […]

By Rathindra Kuruwita The Committee on Public Finance (COPF) had invited all Members of Parliament to a meeting it was scheduled to have with the officials of the Central Bank of Sri Lanka (CBSL), on Tuesady (05), COPF Chairman, MP Harsha de Silva told journalists in Colombo yesterday. “We will ask them to explain the […]

The officials of the Central Bank of Sri Lanka (CBSL) have been summoned to the Cabinet meeting scheduled to be held on Tuesday (March 05).

Monday 04th March, 2024 The Central Bank of Sri Lanka (CBSL) is drawing heavy flak for having granted its workers generous pay hikes amidst a crippling economic crisis. Its critics are arguing that such salary increases, allegedly ranging from 29% to 70%, should not have been given at a time when the government is asking […]

by Dhara Wijayatilake Director and Secretary General of the International ADR Center Sri Lanka ratified the UN Convention on International Settlement Agreements Resulting from Mediation, popularly known as the Singapore Convention on Mediation, held recently. As at today, the Convention has 56 signatories and has been ratified by 14 nations. The Convention was developed by […]

‘New laws needed to rein them in’ By Shamindra Ferdinando Justice Minister Dr. Wijeyadasa Rajapakse, PC, said that contrary to the Constitution, the Parliament didn’t exercise full control over public finance.The former President of the Bar Association said a new law was required to subject all state enterprises to parliamentary control to prevent further deterioration […]

Sri Lanka is seeking a five-month hold on a lawsuit filed by a bondholder over the country s historic debt default, telling a New York federal judge that it wants more time to negotiate with private creditors.

by Rex Clementine Since the arrival of the new set of selectors, there has been a revival for the Sri Lankan team. Scorebooks say they have won five series inside two months, but what has happened behind the scenes has gone unnoticed. Discipline and hard work are the buzz words in the new set up. […]

Sri Lanka s earnings from tourism were estimated at USD 342 million in January 2024, the Central Bank s latest report on external sector performance revealed.

The officials of the Central Bank of Sri Lanka (CBSL) will be summoned to the party leaders meeting scheduled to be convened at 10.30 a.m. on Tuesday (March 05), the Department of Communication of Parliament says.