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‘s economic crisis FR case
The full Supreme Court decision on Sri Lanka’s economic crisis Fundamental Rights petition has been published. The Supreme Court gave a majority ruling that the former President Gotabaya Rajapaksa, former Prime Minister Mahinda Rajapaksa, former Finance Minister Basil Rajapaksa, former Governors of the Central Bank of Sri Lanka, Prof W.D Lakshman and Ajith Nivard Cabraal, […]
Sri Lanka elected to the Executive Board of the UNESCO
Sri Lanka was elected to the Executive Board of the United Nations Educational, Scientific and Cultural Organization (UNESCO) for the term 2023-2027, during the 42nd General Conference of the inter-governmental organization, on 15 November 2023 in Paris. Sri Lanka obtained 144 votes out of 188 member states voting at the said election, co-securing the 3rd highest vote […]
VAT exemptions will be limited to health, education & few essential foods: Deloitte Sri Lanka budget discussion
Deloitte Sri Lanka, part of the international auditing, consulting, and financial advisory giant, Deloitte Global, held a special “Budget Night” panel discussion on Sri Lanka’s Government Budget 2024, on the 13th of November 2023, soon after the Budget was presented to parliament by President Ranil Wickremasinghe, as the Minister of Finance. The panel comprised Dr. […]
Sri Lanka’s Ambitious Budget Agenda Faces High Implementation Risks: Fitch Ratings
The targets laid out in Sri Lanka’s budget for 2024 will be challenging to meet, even with the economic recovery that we expect to continue next year, says Fitch Ratings. Full Statement
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Fitch Ratings has assigned National Development Bank PLC’s (NDB, A-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to LKR5 billion a final National Long- Term Rating of ‘BBB(lka)’. The final rating is the same as the expected rating assigned on 1 September 2023 and follows the receipt of documents conforming to information […]
Siddhalepa honors Asian Games gold medalist Tharushi
Siddhalepa, a respected name in natural healthcare, took the opportunity to honor and appreciate the outstanding achievements of Tharushi Karunarathna, the young Sri Lankan track and field athlete who made history with her remarkable performance at the 19th Asian Games in Hangzhou, China last month. Tharushi, with her determination and prowess, secured a gold medal, competing […]
Budget 2024: Pragmatic Implementation & Timely Execution Will be Key, says CCC
The Ceylon Chamber of Commerce considers the 2024 Budget as a crucial step in continuing the macroeconomic stabilization measures that began in late 2022, as a response to the economic challenges faced by Sri Lanka. The Chamber acknowledges that one of the main challenges faced by Sri Lanka’s economy has been macroeconomic mismanagement. The National […]
Cabinet approval mandatory in appointing Interim Committees for Sri Lanka Cricket
President Ranil Wickremesinghe has instructed the Chairman of the Ministerial Sub-Committee for Cricket to spearhead efforts aimed at lifting the ban imposed by the International Cricket Council (ICC) on Sri Lanka Cricket. Further, it has been decided that, moving forward, the approval of the cabinet will be mandatory for the appointment of any interim committees.
Comm Bank Group’s 9-month gross income up 30.88-pct to Rs 256 Bn
A heightened emphasis on lending has seen the Commercial Bank Group increase gross loans and advances by Rs 51.404 billion in the third quarter of 2023 at a monthly average of Rs 17.135 billion, growing its loan book by 4.33% over three months to Rs 1.239 trillion and reversing the trend of the first half […]
Opinion: Price controls are not the way to bring down price of chicken
By Pravena Yogendra, a contributor to the Advocata Institute Most HoReCa channels in Sri Lanka sell a packet of chicken rice and curry at a higher price than a comparative packet of fish rice and curry. The price of a portion of chicken rice and curry is ~30% more than that of a portion of […]