Author: lbostgadmin
CCPI-based headline inflation recorded at 55-pct in June; food inflation at 80-pct
Headline inflation, as measured by the year-on-year change in the Colombo Consumer Price Index increased to 54.6% in June 2022 from 39.1% in May 2022 driven by the monthly increases in both Food and Non-Food categories. Accordingly, Food inflation (Y-o-Y) increased to 80.1% in June 2022 from 57.4% in May 2022, while Non-Food inflation (Y-o-Y) […]
Nandalal Weerasinghe Re-appointed as Central Bank Governor
The Central Bank announces that President Gotabaya Rajapaksa has re-appointed Dr. P. Nandalal Weerasinghe as the Governor of the Central Bank for a further term of six years, with effect from 4th July 2022. The relevant appointment letter was handed over to Dr. Nandalal Weerasinghe by President Gotabaya Rajapaksa, at President’s House in Colombo, today […]
Russian Ambassador calls on Foreign Minister Peiris
Ambassador of the Russian Federation to Sri Lanka, Yury Materiy, called on the Minister of Foreign Affairs, Professor G.L. Peiris yesterday at the Ministry of Foreign Affairs. Foreign Minister Peiris and Ambassador Materiy discussed several issues aimed at enhancing the multi-faceted bilateral relations which celebrated its 65th anniversary in 2022. Foreign Minister Peiris briefed Ambassador […]
CFA Capital Market Awards 2022 fetes best in the investment profession
The ninth annual CFA Capital Market Awards, organized by the CFA Society Sri Lanka, was held on Wednesday (29 June) at the Oak Room of Cinnamon Grand Colombo, recognizing and rewarding excellence in the local capital markets, with this year’s event focusing on the theme ‘Blockchain Revolution in Sri Lanka’s Capital Market’. Delivering the opening […]
IMF staff concludes visit to Sri Lanka; discussions to continue for a staff-level agreement on EFF
An International Monetary Fund (IMF) mission team led by Peter Breuer and Masahiro Nozaki visited Colombo from June 20 to 30, 2022 to discuss IMF support for Sri Lanka and the authorities’ comprehensive economic reform program. Anne-Marie Gulde-Wolf, Deputy Director of the IMF’s Asia and Pacific Department, participated in policy discussions. At the end of […]
‘s first Comprehensive Pedal Cycle Insurance Cover
Keeping up with the evolving trends in the external environment, Fairfirst recently introduced “Pedal Cycle Insurance” as another industry-first insurance policy. Passionate about empathy-led innovation that always caters to evolving customer needs, the Company ensures that individuals are offered peace of mind when making sensible changes for the better. Thus, with much consideration given to […]
Sri Lanka economy contracted by 1.6-pct in 1Q 2022
The year-on-year GDP growth rate for the first quarter of 2022 has been estimated as negative 1.6 percent which indicated a considerable contraction of the economy compared to the first quarter of 2021, the Department of Census and Statistics revealed. The three major economic activities of the economy; ‘Agriculture’, ‘Industry’ and ‘Services’ have contributed their […]
Sri Lanka’s Food Crisis: What is the Role of Imports?
By Dr. Asanka Wijesinghe and Chathurrdhika Yogarajah: Food security has become a pressing concern for many Sri Lankans amidst a deepening domestic economic crisis, drastic loss of rice production, and post-Ukraine crisis commodity price surge in the world market. International organisations have started humanitarian programmes targeting the country’s most vulnerable citizens, while policymakers are pushing […]
Actions will be taken to liquidate five failed finance companies: Central Bank
Actions will be taken to liquidate the five failed finance companies in accordance with applicable legal provisions, Sri Lanka’s Central Bank said. The Monetary Board, having considered the Report of the Advisory Committee on the five failed finance companies, noted that the proposals received for perusal of the said Committee were not viable and entailed […]
Sri Lanka to introduce new law on contempt of court
As the offense of contempt of court has not been defined in Sri Lanka, there is no clear and uniform procedure for hearing and adjudicating such cases. As a result, it is difficult to identify the limits of interference in the justice process and the limits on the right to freedom of expression. It seems […]
VIDEO: Crisis-hit Sri Lanka seeking discounted oil from Russia, Qatar
Sri Lanka’s Energy Minister has said the country will send delegations to Russia and Qatar to try and secure cheap oil. It’s not immediately clear how far the government can stretch its fuel reserves, which are likely to run out in a day. Meanwhile, the government has extended the closure of schools and non-essential services […]
Fuel to be supplied only for essential services from midnight: Cabinet
The remaining fuel stocks will be distributed only for essential services with effect from midnight today (June 27) until the 10th of July, Cabinet spokesman Minister Bandula Gunawardena said. Accordingly, essential services include ports, the health sector, distribution of essential food items, and transportation of agricultural products. Inter-provincial transport services will also be temporarily halted […]