Category:
Book Review: Ibn Battuta in Sri Lanka
January 11. 2024 (LBO) – When a dear friend mentioned to me that a prominent professor had recommended she read a recent book on Ibn Battuta in Sri Lanka, I was instantly intrigued. Having read my grandfather HAJ Hulugalle’s book “Ceylon of the Early Travellers” many times, I have for years been interested to know […]
2023-2025 National Action Plan scheduled for Cabinet approval in February
The inaugural multi-stakeholder workshop to formulate Sri Lanka’s 3rd National Action Plan (NAP) 2023-2025 took place yesterday (10) at the Renuka Hotel, Colombo. This crucial initiative, which was initially halted in 2019 due to political challenges, the COVID-19 pandemic and economic crises, has been recommenced under the directive of President Ranil Wickremesinghe, facilitated by the […]
New Year, New VAT: Can Sri Lanka’s Poor Cope with the Increase?
By Lakshila Wanigasinghe: Ringing in the new year for Sri Lankans was an increase in the value-added tax (VAT) rate to 18% and a withdrawal of tax exemptions on several goods and services. The last day of 2023 witnessed long queues as people rushed to stock up on essentials such as fuel and gas. Although queues […]
Sri Lanka Central Bank to implement single policy rate mechanism
Sri Lanka’s Central Bank of Sri Lanka (CBSL) said it seeks to consolidate monetary policy operations under a single benchmark rate. Governor of the CBSL Nandalal Weerasinghe made this remark while announcing the 2024 annual policy statement in Colombo, Wednesday. The decision was made following the recognition of the limitations of its current system, which […]
SL economy to record positive growth rates and gain further momentum over medium term: CB Governor
Sri Lanka has entered a path of recovery following the worst economic crisis in its postindependence history while the policy measures that were taken by the Government and the Central Bank during 2022 and 2023 helped restore macroeconomic stability, the Governor of the Central Bank said. Governor P. Nandalal Weerasinghe announcing the Central Bank’s annual […]
Uncertain Economic Outlook for Sri Lanka Amid Debt Restructuring & Structural Reforms: World Bank
The economic future of Sri Lanka remains uncertain, as the country navigates debt restructuring negotiations with private creditors and implements structural reforms to boost growth potential, according to the World Bank’s latest Global Economic Prospects report. The report highlighted that the economy contracted by an estimated 3.8 percent in 2023, and credit to the private […]
Cargills Bank debuts trading on the Colombo Stock Exchange
The shares of Cargills Bank Limited (CODE: CBNK-N-0000) commenced trading on the Colombo Stock Exchange (CSE) on 09th January 2024. The shares have been listed on the Main Board of the CSE under the ‘Diversified Banks’ sector. The occasion was marked with a special Bell Ringing Ceremony. The company’s Initial Public Offering (IPO) for 62.5 […]
President Commemorates Sir Arunachalam on 100th Death Anniversary
January 10, 2024 (LBO) – President Ranil Wickremesinghe was the chief guest at the commemoration event of the 100th death anniversary of Sir Ponnambalam Arunachalam. At the event the President heralded Sir Arunachalam as a leader who championed the concept of a Ceylonese identity as opposed to today’s political rhetoric focused on division. Known as […]
”’ National Rating on watch positive
Fitch Ratings has maintained Sri Lanka Telecom PLC’s (SLT) ‘A(lka)’ National Long-Term Rating on Rating Watch Positive (RWP). The RWP reflects the potential rating upside from the removal of linkages with SLT’s parent, the Sri Lankan government (Long-Term Local-Currency Issuer Default Rating (IDR): CCC-), as the government is in the process of selling its 50.2% […]
FitsAir acquires approval for inflight catering
FitsAir, Sri Lanka’s leading low-cost airline, is proud to announce a significant enhancement to its service offerings by obtaining approval for inflight self-catering. This strategic move aligns with the airline’s vision to offer low-cost international travel. FitsAir’s Inflight Catering Services prioritise affordability and variety, providing passengers with wallet-friendly meal choices that won’t strain their budgets. […]
Japanese Finance Minister to visit Sri Lanka this week
Minister of Finance of Japan, Suzuki Shunichi will undertake an official visit to Sri Lanka from 11-12 January 2024. During the visit, Japanese Finance Minister is scheduled to have official discussions with President Ranil Wickremesinghe and Minister of Foreign Affairs Ali Sabry. Minister of Finance of Japan SUZUKI Shunichi and the delegation will visit Parliament, Jayawardene Centre, […]
The Princess Royal to visit Sri Lanka from 10 – 13 January
The Princess Royal and Vice Admiral Sir Timothy Laurence will arrive in Sri Lanka on Wednesday 10 January for a three-day visit. The visit comes as the two countries mark 75 years of diplomatic relations. The UK and Sri Lanka share many strong personal ties and common interests making the two countries natural partners through […]