The new price of a 12.5kg gas cylinder has been reduced by 1,050 rupees effective Wednesday August 17.

The Monetary Board of the Central Bank of Sri Lanka (CBSL) has 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 14.50 per cent and 15.50 per cent, respectively.

ECONOMYNEXT – Sri Lanka’s central bank said it was holding its policy rates at 15.50 percent, while data showed market interest rates are close to twice the rate and private credit and imports falling. Monetary Policy Review: No. 06 – August 2022The Central Bank of Sri Lanka maintains policy interest rates at their current levelsThe Monetary Board of the Central Bank of Sri Lanka...

3-month yield up 31bp to 29.44-pct

Trade, Commerce and Food Security Minister Nalin Fernando has revealed that about 30,000 tonnes of rice, imported to meet the shortfall in the market, have been used as animal feed. The disclosure was made at the inaugural meet of the Food Security Committee, held at the Ministry yesterday (17). Among those present were Secretaries to […]

…questions mysterious cancellation of Japanese-funded LRT project By Shamindra Ferdinando Ruling party rebel lawmaker Prof. Charitha Herath says that the cancellation of the Japanese funded USD 1.5 bn light rail transit (LRT) project remains a mystery. The SLPP National List MP told The Island yesterday (17) that his efforts, in his former capacity as Chairman […]

Govt. briefs international community ahead of Geneva sessions The government has assured the Colombo-based diplomatic community that the restoration of the provisions in the 19th Amendment, by the enactment of the 21st Amendment, would strengthen parliamentary democracy, enhance oversight of the executive branches of government and ensure independence of key institutions. The government also said ...

by Ifham Nizam The Island spoke to Asiff Hussein, Vice-President, Outreach of the Centre for Islamic Studies (CIS) about cultural contribution of Muslims and misconceptions about the Islamic faith. Q: You have lectured extensively on Muslim Cultural Contribution. So, how would you describe such contribution both locally and internationally? A: Islam has throughout history been […]

By Hiran H.Senewiratne The entire government/ public sector ran on without accountability to their spending on various development projects, despite having a huge number of government servants, which runs into 1.5 million. That is why the country encounters a huge debt crisis that amounts to US $ 60 billion or Rs 70 trillion, Prof. Lakshman […]

Thursday 18th August 2022 Speculation is rife that former President Gotabaya Rajapaksa is planning to return to Sri Lanka. The question, however, is not whether he is coming, but what he is doing overseas. The anti-government protesters who engineered his ouster called upon him to ‘go home’; they did not ask him to flee the […]

Coming on almost the eve of India’s 75th independence anniversary celebrations, the election of woman tribal leader Droupadi Murmu to the prestigious position of India’s President underscores afresh the country’s democratic credentials. While the historic Partitioning of India in 1947 drew attention to the endemic and destructive presence of identity politics in the Indian sub-continent, […]

By Dr Upul Wijayawardhana Scapegoat, according to the third book of the Torah and of the Old Testament – Leviticus, is the goat that was sent to the wilderness after the Jewish priest had symbolically laid all the sins of the people on it. It looks as if we had done the same to Gota, […]

By Hiran H.Senewiratne The CSE turned negative yesterday due to profit- takings but during the last session the market showed some recovery on account of some stability in the macro- economic arena and on the political front in the country, stock market analysts said. Developments in favour of the market were: A UK trade arrangement […]

Most of us lead very busy lives that often keep us away from home. Regardless, it is important to ensure the safety of your home and loved ones while you are away. A smart system that alerts you of any unexpected guests, intruders wherever you are is ideal. However, finding a security solution that is […]

The national Insurer Sri Lanka Insurance enters into a strategic tie up and signed a Memorandum of Understanding (MoU) with the Ceylon Motor Traders Association (CMTA) the representative body of Sri Lanka Automotive industry to provide an exclusive vehicle insurance package for the CMTA members. The MoU exchange took place between the two parties recently […]

Ambassador of the Republic of Korea, Santhush Woonjin Jeong said the newly introduced relaxed visa regulations will help to attract more Korean investors to Sri Lanka. Pointing out that Korea was the top most investor, in Sri Lank, in the 1980s, the Ambassador said his country desires to regain that position by increasing investments. He […]

Supply of natural gas to power plants By Ifham Nizam The Ceylon Electricity Board (CEB) General Manager has forwarded a draft agreement to the Ministry of Finance recommending that exclusive rights be granted to a Chinese company for supplying natural gas (regasified LNG) to power plants at Kerawalapitiya and Kelanitissa. The CEB invited international bids […]

Seylan Bank, the Bank with a Heart, in partnership with the Ceylon Chamber of Commerce (CCC) Centre for SMEs and CIMA, conducted a workshop in Puttalam for owners of SME businesses from the area. Over the years, Seylan Bank has taken up the role of mentor towards the SME sector in Sri Lanka, with the […]

Canada and Sri Lanka, on Monday (15), signed a Memorandum of Understanding (MoU), to implement the WUSC Volunteer Cooperation Programme 2020-2027. The MoU was signed by High Commissioner of Canada to Sri Lanka David McKinnon, and Secretary, Ministry of Finance, Economic Stabilization and National Policies K.M. Mahinda Siriwardana, at the Ministry of Finance, the Canadian […]