Category: Economy and Markets
‘s National Digital Economy Strategy
Sri Lanka, a nation poised at the cusp of digital transformation, has taken a monumental step forward with the introduction of its National Digital Economy Strategy. Crafted through a collaborative effort between government bodies, academia, industry stakeholders, and supported by the World Bank, this strategic blueprint stands as a testament to Sri Lanka’s commitment to […]
Debt Restructuring: Govt has failed to strike a deal favorable to Sri Lanka – Harsha de Silva
According to a recent press release, the government of Sri Lanka has failed to secure a deal that benefits its people, says Harsha de Silva, the economics spokesperson for the main opposition SJB and Chairman of the COPF. He voiced his disappointment over the lack of transparency in the government’s debt restructuring process, despite his […]
Sri Lanka announces end of initial talks with members of ad hoc group of bondholders
The Government of Sri Lanka announces today that it has held restricted discussions over the past three weeks with nine members of the steering committee who agreed to take part in the restricted discussions of the Ad Hoc Group of Bondholders of its International Sovereign Bonds (ISBs). The Steering Committee as a whole comprises ten […]
Dilshan Wirasekara on Capital Raising and the Stock Market Outlook for 2024
The Chairman of the Colombo Stock Exchange (CSE) discusses the opportunities for capital raising and Stock Market Outlook for 2024. 1. Give us an overview of the current market landscape and discuss the CSE’s overall outlook for the year 2024. We believe the overall outlook of the CSE, for the year 2024 to be a […]
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Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) recorded an index value of 62.5 in March 2024, indicating an expansion in manufacturing activities. This marks the highest PMI-Manufacturing that was recorded in three years. All the sub-indices expanded on a month-on-month basis contributing to this increase, mainly driven by the seasonal demand. The […]
CEAT Kelani launches 3 new radial tyre variants
Sri Lanka’s leading pneumatic tyre manufacturer CEAT-Kelani has introduced three new variants of high-performance radial tyres into the market, widening choice for a significant segment of vehicle owners. Joining CEAT’s ‘Orion Brawo’ range, the new radials are in the sizes 155/65 R14, 165/70 R14 and 165 R13, with the first two sizes designated for popular […]
SL debt repayment period to be extended from 2028 to 2042, with a lowered interest rate of around 2-pct
Sri Lanka is in the final stages of negotiations with its creditors, spearheaded by Japan, to suspend debt repayments until 2028. The repayment period will be extended from 2028 to 2042, with a lowered interest rate of approximately 2%. Despite Sri Lanka’s appeal for further debt reduction, Nikkei Asia reports that no additional cuts are […]
Interview: Three questions to Frank Dandy about moving production to Sri Lanka
BLOG SWEDEN SRI LANKA BUSINESS (https://blogg.sslbc.se) Since 2017, Daniel Hörnqvist has been the CEO of the Swedish fashion brand Frank Dandy. When he took over, he brought with him extensive experience from e-commerce and the outdoor market. This included responsibility for the launch of the e-commerce brand Bikester in the Nordic region in 2013. In […]
SOE Losses Costing LKR 141,809 per Sri Lankan Household
The soft pedaling by the government to carry out crucial reforms of State Owned Enterprises is forcing taxpayer’s wallets to take the brunt of the hit, says Colombo based think tank, Advocata Institute. Dhananath Fernando, the Chief Executive Officer of the Advocata Institute said, taking into account the upcoming election cycle, the Advocata Institute, urged […]
ADB partnership strategy 2024-28 for SL to foster sustainable recovery, build resilience, and revive growth
The Asian Development Bank (ADB) has launched a new country partnership strategy (CPS) for Sri Lanka covering the period 2024–2028. The strategy will focus on restoring the country’s macroeconomic stability, reviving growth, and establishing the foundation for sustainable recovery and resilience. “This new partnership strategy will build on ADB’s ongoing assistance to support the country’s efforts to […]
‘s growth forecast to 2.2-pct in 2024
In Sri Lanka, growth is expected to turn positive, to 2.2 percent in 2024, a 0.5 percentage point upgrade from the previous forecast, with modest recoveries in reserves, remittances, and tourism. According to the World Bank’s the Sri Lanka Development Update, Bridge to Recovery, released today, inflation is expected to remain within the central bank’s target range and […]
Despite strong growth, South Asia remains vulnerable to shocks: World Bank update
Growth in South Asia is expected to be strong at 6.0 percent in 2024, driven mainly by robust growth in India and recoveries in Pakistan and Sri Lanka. But persistent structural challenges threaten to undermine sustained growth, hindering the region’s ability to create jobs and respond to climate shocks, says the World Bank in its […]