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Experts discuss framing a green development pathway for Sri Lanka
Experts from the government, private sector, UN agencies, think tanks, and other development partners, came together at this week’s kickstarter sessions of the Colombo Development Dialogues on Green Development, held on 12 and 14 October 2021. With over 450 participants joining in virtually, they sought to come to a common understanding of a localised, Sri […]
COVID-19 and the Sri Lankan Economy: Policy Choices and Trade-offs
By Chathurrdhika Yogarajah: Sri Lanka’s macro-economic outlook amidst the COVID-19 pandemic came under the spotlight at a webinar panel discussion held on October 11, to mark the release of IPS’ flagship report, ‘Sri Lanka: State of the Economy 2021’. The event featured presentations by Dr Dushni Weerakoon and Dr Asanka Wijesinghe from IPS with expert […]
New Circular on issuing mining, transportation & trade permits for metals, sand, soil, gravel & clay
A new Circular will be issued to give effect to the process of issuance of permits for mining, transportation and trade of metals, sand, soil, gravel and clay.The President appointed a Presidential Task Force to study the exploitation of Geological resources for development, priorities and self-employment and to meet micro level economic livelihood needs of […]
”; Removes Negative Watch
Fitch Ratings has downgraded Bimputh Finance PLC’s National Long-Term Rating to ‘CC(lka)’ from ‘B-(lka)’. The rating has been removed from Rating Watch Negative. The downgrade reflects Fitch’s view that Bimputh’s liquidity and refinancing risk has risen significantly, driven by a persistent decline in asset quality, while it faces further delays in restoring its regulatory capital […]
State Minister Balasuriya and BOI woo French investment to Sri Lanka
State Minister of Regional Cooperation Tharaka Balasuriya, along with the Chairman of the Board of Investment Sanjay Mohottala, carried out a series of business meeting in France last week on the sidelines of the IFTM TopRESA Travel mart that took place in Paris. This included a series of high level meetings with a number of […]
USAID’s Private Sector Development project signs MOU with HNB to expand financing to MSMEs
The U.S. Agency for International Development’s (USAID) Private Sector Development project signed a Memorandum of Understanding (MOU) with Hatton National Bank PLC (HNB) to expand financing to micro, small, and medium enterprises (MSMEs) in Sri Lanka. “Partnerships like this can dramatically enhance economic and social impact more than any of us could achieve on our […]
CBSL maintains policy rates; near term supply side developments do not warrant policy tightening
The Monetary Board 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 5.00 percent and 6.00 percent, respectively. The Board said it arrived at this decision after considering the macroeconomic conditions and expected developments on the domestic and […]
Sri Lanka remains committed to principles and goals of the Non-Aligned movement – State Minister Balasuriya
State Minister Tharaka Balasuriya represented Sri Lanka at the Commemorative High-Level Meeting on the occasion of the 60th anniversary of the Non-Aligned Movement Speaking at the summit State Minister Balasuriya stated that Sri Lanka reiterates its firm commitment to the principles and goals of the NAM and pledge support for its noble endeavours to secure […]
Swarnamahal Financial Services to resume business for 6 months for limited purpose
The Monetary Board of the Central Bank has made an order permitting Swarnamahal Financial Services PLC (SFSP) to resume business for a limited period of six (06) months with effect from 13.10.2021, for the purpose of exploring the possibility of absorbing the Company to the “Master Plan for Consolidation of Non-Bank Financial Institutions Sector”. The […]
Central Bank may consider maintaining policy stance: First Capital Research
First Capital Research believes that the Central Bank may consider maintaining the same policy stance in this policy review but given the considerable improvement in high-frequency indicators to prevent an overheating of the economy, there is a considerably high probability that CBSL may hike its policy rates. “We believe that there is a significant probability […]