Sri Lanka saw a notable increase in workers remittances and a boost in tourist arrivals in July 2023, the Central Bank of Sri Lanka (CBSL) says.

People’s Bank today announced the results for its six months ended June 30, 2023 reporting total consolidated operating income and pre-tax profit amounting to LKR 48.2 billion and LKR 9.4 billion, respectively (1H -2022: LKR 80.7 billion and LKR 15.2 billion). Due to higher interest costs; stemming from the high interest rate environment which prevailed […]

The highly anticipated annual event celebrating Sri Lanka’s Most Admired Companies (MAC Awards) for 2022 took place recently, captivating an audience of distinguished corporate leaders and esteemed diplomats. The award ceremony, organized by ICC Sri Lanka, AICPA & CIMA and DailyFT unveiled and recognized the exceptional accomplishments of these top-ranking companies in the country. The [...

By Shamindra Ferdinando Justice Minister Dr. Wijeyadasa Rajapakse, PC, declared in Parliament that the winners of LPL (Lanka Premier League) 2023 B-Love Kandy had been sponsored by an enterprise that was banned in the country. The statement was made in Parliament on 24th August. The one-time President of the Bar Association found fault with SLC […]

Beijing [China], August 19 (ANI): Raising concerns regarding the financial crisis triggered by the downturn in China’s real estate market, Chinese investment firm Zhongrong Trust , which managed USD 87 billion worth of funds for corporate clients and wealthy individuals as of the end of 2022, had failed to pay the interest and principal on […]

by Laura He China has long been the engine of global growth. But in recent weeks, its economic slowdown has alarmed international leaders and investors who are no longer counting on it to be a bulwark against weakness elsewhere. In fact, for the first time in decades, the world’s second economy is itself the problem. Hong Kong’s Hang […]

Tuesday 29th August, 2023 Has Sri Lanka, which was once known as the Granary of the East become the Poison Dump of the East? A study carried out by the Centre for Environmental Justice (CEJ) has revealed that 40 out of 139 pesticides used in this country are highly hazardous and cause serious diseases such […]

The Central Bank of Sri Lanka (CBSL) has issued a statement clarifying that it had offered to meet with representatives of the protesters demonstrating near the Fort Railway Station in Colombo today, to discuss Domestic Debt Optimisation (DDO) programme.

Small and Medium Enterprises (SMEs) is considered the backbone of the country’s economy and is a diverse sector, that massively supports Sri Lanka’s socio-economic development. The sector largely contributes to the country’s GDP and acts as the main employment provider. Over 25 years, Union Bank has provided its services to support and develop SMEs across […]

The Central Bank of Sri Lanka (CBSL) has informed the general public that the CBSL does not collect taxes from the people on any occasion.

JVP-led NPP leader Anura Kumara Dissanayake on Saturday said that Sri Lanka had lost its financial sovereignty to the International Monetary Fund (IMF), which, he said, was overriding Parliament’s power over taxation and fiscal policies. Addressing a seminar organised by JVP’s Bhikkhu wing the National Bhikkhu Front, at the Foundation Institute in Colombo, Dissanayake said […]

KARACHI: Pakistan’s total debt and liabilities rose by 29 percent to Rs77.1 trillion in the fiscal year that ended on June 30, the central bank said on Wednesday, as the government borrowed heavily to finance its spending requirements. At the end of the last fiscal year, the country’s debt and liabilities, including domestic and foreign, […]

The Central Bank of Sri Lanka (CBSL) has issued an order reducing the interest rates on lending products of all licensed commercial banks with effect from August 25.

By J. Edward Moreno Tremors in China’s real estate market are shaking the country’s economy, as well as the world, which has come to rely on China as a reliable engine of growth. Major developers are faltering as they face huge losses, struggle with mountains of debt and miss payments to lenders. A long-running building boom […]

The Monetary Board of the Central Bank on Wednesday (23) decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 11.00 per cent and 12.00 per cent, respectively. It said in a statement: The Board arrived at this decision following […]

A circular focusing on measures to accelerate the fall in market lending rates is due to be issued by the Central Bank of Sri Lanka on Friday (25 Aug).

The Central Bank of Sri Lanka (CBSL) has banned 9 entities including the OnmaxDT and MTFE SL Group that have conducted pyramid schemes which are prohibited in the country.