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Joint Statement by the Heads of International Energy Agency, IMF, World Bank Group & WTO
Washington – May 29, 2026: The Heads of the International Energy Agency, International Monetary Fund, World Bank Group and World Trade Organization met on May 28 as part of the high-level coordination group established in April to maximize their institutions’ response to the energy, trade, and economic impacts of the war in the Middle East. Following […]
Evolution Auto launched the Xpeng G6 in Sri Lanka marking a new era in premium electric mobility
Evolution Auto Private Limited the authorised distributor for Xpeng in Sri Lanka, officially launched the New Generation Xpeng G6 at its multi brand showroom in Colombo 05 on 22 May 2026, marking a significant milestone in the country’s rapidly evolving electric vehicle landscape. The launch event brought together media representatives, industry stakeholders, and invited guests […]
Why Sri Lanka’s SME apparel sector needs a national sustainable industries policy framework
By Nishantha Bakmeege President Sri Lanka chamber garment exporters (SLCGE) A clear national sustainable industries framework is becoming essential if Sri Lanka’s SME apparel manufacturers are to cut carbon, adopt renewable energy and remain competitive in global export supply chains. Sri Lanka’s apparel industry is entering a new phase where export competitiveness will increasingly be […]
Ceylon Chamber Applauds IMF Review Approval, Urges Fuel QR Optimization & Clear Economic Policy Signals
The Ceylon Chamber of Commerce has commended the Government of Sri Lanka on the successful completion and approval of the 5th and 6th reviews under the IMF’s Extended Fund Facility, unlocking around USD 695 million in financing support. The Chamber emphasized that this milestone strengthens confidence in Sri Lanka’s economic recovery amid global uncertainty and […]
Sri Lanka’s Vehicle, Gold Loan Curbs Support Lenders’ Risk Profiles: Fitch Ratings
Sri Lanka’s tighter macroprudential restrictions on vehicle and gold-backed lending will benefit lenders’ risk profiles, particularly those of finance companies, Fitch Ratings says. The Central Bank of Sri Lanka’s lower loan-to-value (LTV) caps target two products that have expanded rapidly in recent years and represent a substantial share of mainly finance companies’ balance sheets. The […]
Commercial Bank now brings PayPal-linked withdrawals for customers
Enables channeling of global digital earnings directly into bank accounts via ComBank Digital The Commercial Bank of Ceylon, reaffirming its leadership in introducing the latest global financial technologies to Sri Lanka, has announced the availability of PayPal-linked withdrawal functionality for eligible customers to seamlessly channel their global digital earnings directly into their Commercial Bank accounts […]
IMF Board Approves Sri Lanka’s Fifth & Sixth Reviews, Unlocks USD 695 Mn for Reforms
The International Monetary Fund’s Executive Board has completed the combined Fifth and Sixth Reviews of Sri Lanka’s Extended Fund Facility, unlocking immediate access to SDR 508 million (approximately US$695 million) to bolster the country’s economic policies and reforms. Performance under the program has been described as broadly strong. Key prior actions, including restoring fuel and […]
Sri Lanka’s Banking sector assures it is stable, equipped to address fraud incidents
Sri Lanka’s banking sector has provided a collective and categorical assurance that it remains stable, resilient, and secure despite a few recent isolated incidents of financial fraud, emphasising that these developments do not pose a threat to the safety of customer deposits or the overall integrity of the financial system. While acknowledging that such incidents […]
Sri Lanka Unveils South Asia’s First Solar Bakery Oven in Landmark Clean Energy Milestone
Sri Lanka became the first country in South Asia to unveil a solar hybrid bakery oven, designed with both solar and biogas energy sources to ensure uninterrupted operation despite unpredictable weather conditions. The event, held on 22 May at Cinnamon Lakeside Colombo, was hosted by Incitare Sri Lanka and the Global Rethinking Finance Collaborative (GRFC), […]
Central Bank increases Overnight Policy Rate to 8.75-pct
The Monetary Policy Board, at its meeting held yesterday, decided to increase the Overnight Policy Rate (OPR) by 100 bps to 8.75%. Standing Deposit Facility Rate (SDFR) and Standing Lending Facility Rate (SLFR), which are linked to OPR with predetermined margins of ± 50 bps, are also increased to 8.25% and 9.25%, respectively. The Board […]