All Blogs
Will Govt place entire burden of domestic treasury bond debt optimization on EPF? Harsha
In a recent press conference MP Harsha de Silva outlined several critical points regarding the IMF Program and expressed general agreement with the stabilization program but stressed the need for specific amendments to focus the program towards medium-term growth. De Silva questioned the four-year plan outlined in the IMF Program. He pointed out that while […]
UNDP and National Innovation Agency partner to mainstream social innovation in Sri Lanka
Social innovation is the process of developing and implementing innovative ideas, products, and services to address social and environmental challenges, and is important in development as it provides new and creative solutions to complex social problems, such as poverty, inequality, and environmental degradation. With the increase in complexity and scale of social challenges, there is […]
‘s tea industry with options for expansion
Ambassador Dr. Palitha Kohona attended the Belt and Road International Tea Trading Forum in Hefeng County, Hubei Province as a guest speaker. Hubei has over 700,000 hectares of immaculately tended tea gardens. Addressing the gathering of tea experts (including many academics), senior government and party officials, tea traders and diplomats, Ambassador Kohona, as an invited […]
Port City celebrates milestone as development nears completion & commercialization to begin
Port City Colombo (PCC), the ground-breaking infrastructure project aimed at reshaping Sri Lanka’s economic landscape, celebrated a momentous milestone as its infrastructure development phase nears completion and commercialization is set to begin. The occasion was marked by a moment of unity with a multi-religious ceremony, invoking blessings on the nation and the project’s success. The […]
Japan provides USD4.6 mn through FAO to boost paddy production in Sri Lanka
The Government of Japan through the Food and Agriculture Organization of the United Nations (FAO) is providing USD 4,629,629 to strengthen the production capacity of smallholder paddy farmers in identified districts of the Dry and Intermediate Zones of Sri Lanka. Smallholder farmers are amongst the most vulnerable rural communities, predominantly cultivating rice for self-consumption. Lack […]
Sampath Bank reports profit before tax of Rs 4.5Bn and profit after tax (PAT) of Rs 2.6Bn at 31st March
Sampath Bank succeeded in raising Rs 10 Bn in Tier 2 capital via a debenture issue in February 2023 and despite the depressing economic outlook in the Country, the issue was oversubscribed – a testament to the investor confidence placed in Sampath Bank and widespread acceptance of the stability and prudent governance of the Bank. […]
EU welcomes Sri Lanka’s intention to present a plan for lifting import restrictions by June
The European Union (EU) urges Sri Lanka to lift the import restrictions preventing many European products from entering its market. At the 25th Session of the Sri Lanka – EU Joint Commission, the EU welcomed Sri Lanka’s intention to present a plan for the lifting of the import restrictions by June 2023. At the session, […]
Fitch Affirms SriLankan Airlines Government- Guaranteed Bonds at C
Fitch Ratings has affirmed SriLankan Airlines Limited’s (SLA) USD175 million government-guaranteed 7% unsecured bonds due 25 June 2024 at ‘C’.
Sri Lanka economy expected to contract by 3-pct in 2023, Grow 1.5-pct in 2024: IMF
Given the weak external environment and domestic policy tightening, aimed at restoring macroeconomic stability, Sri Lanka’s economy is expected to contract by 3 percent in 2023, before registering a modest growth of 1.5 percent in 2024, Krishna Srinivasan, Director of the Asia and Pacific Department of the International Monetary Fund (IMF) said. Speaking at a […]
Comm Bank gross income grows 54.2-pct in Q1: LKR appreciation impacts loan book, deposits and assets
The Commercial Bank of Ceylon Group’s deposit base has surpassed Rs 2 trillion, a milestone it achieved in the first quarter of 2023 despite the continuing impacts of mercurial exchange rates and market interest rates, and the effects of the economic downturn on multiple sectors of business. The Group, comprising of Sri Lanka’s biggest private […]