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IMF Chief Warns Sri Lanka Against “Reform Fatigue,” Hails “Remarkable Progress” Post-Crisis
The International Monetary Fund (IMF) today lauded Sri Lanka’s “remarkable progress” in its economic recovery but issued a stark warning against abandoning crucial reforms. Speaking at a conference in Colombo, IMF First Deputy Managing Director Gita Gopinath emphasized that the island nation’s current path “this time must be different.” Gopinath highlighted significant strides since the […]
Sri Lanka records 4.8-pct GDP growth rate for 1Q 2025
Issuing a communiqué, on releasing National Accounts Estimates, the DCS states that the GDP growth rate for the first quarter of 2025 has been estimated as 4.8 percent of positive growth rate. Accordingly, the Gross Domestic Product for Sri Lanka for the first quarter of the year 2025 at constant price (2015) has increased up […]
Central Bank Governor to Address Ceylon Chamber’s 186th AGM
The Ceylon Chamber of Commerce will hold its 186th Annual General Meeting on Wednesday, 26th June 2025, at 5.30 PM at The Studio, Cinnamon Life. Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, will attend as Chief Guest, addressing the business community at a time when economic resilience and reform remain key […]
VIDEO: Air India plane crashes shortly after take off in Ahmedabad; more than 200 killed
An Air India plane has crashed shortly after taking off from Ahmedabad airport in western India, local media has reported. Air India said on Thursday that Flight AI171, a passenger flight to London Gatwick airport, was “involved in an incident”. “At this moment, we are ascertaining the details and will share further updates,” Air India […]
CBSL Extends Relief Measures for Affected SMEs, Offers Further Concessions
The Central Bank of Sri Lanka (CBSL) has announced an extension of relief measures and additional concessions for Small and Medium Enterprises (SMEs) that have been adversely affected in the recent past. This move aims to facilitate the sustainable revival of these businesses. Licensed commercial banks and licensed specialized banks have been advised by the […]
First Deputy Managing Director of the International Monetary Fund to Visit Sri Lanka
Dr. Gita Gopinath, the First Deputy Managing Director (FDMD) of the International Monetary Fund (IMF), is scheduled to visit Sri Lanka from 15-16 June 2025. This visit is significant, as it marks the first time since 2005 that a serving FDMD of the IMF visits Sri Lanka. During this visit, Dr. Gopinath will be the […]
Pelwatte Dairy Launches First-Ever Pension Scheme for Sri Lankan Dairy Farmers
In a historic move that redefines rural financial security, Pelwatte Dairy Industries has announced the launch of Sri Lanka’s first pension scheme for dairy farmers, reinforcing its commitment to both national self-sufficiency and the welfare of the farming community. Pelwatte Dairy, one of Sri Lanka’s foremost homegrown dairy brands, has long been a pillar in […]
PUCSL Announces 15-pct Overall Electricity Tariff Increase Effective Tonight
The Public Utilities Commission of Sri Lanka (PUCSL) announced today a 15% increase in electricity tariffs, effective from June 12, 2025. This decision follows a comprehensive review of utility bills and public feedback submitted by the Ceylon Electricity Board for the June to September 2025 period. Despite this immediate increase, the PUCSL emphasizes that the […]
Global Economy Set for Weakest Run Since 2008 Outside of Recessions: World Bank
Heightened trade tensions and policy uncertainty are expected to drive global growth down this year to its slowest pace since 2008 outside of outright global recessions, according to the World Bank’s latest Global Economic Prospects report. The turmoil has resulted in growth forecasts being cut in nearly 70% of all economies—across all regions and income groups. Global […]
Colombo’s evolving retail landscape: A vision for Rajagiriya
In the last few decades, Colombo’s skyline has been steadily reshaped by the rise of shopping malls, architectural symbols of economic aspiration, and urban transformation. From the modest beginnings of Liberty Plaza in the 1980s to the ambitious scale of One Galle Face , Colombo City Center and Cinnamon Life, malls have become embedded in […]