Category: Economy and Markets
Sri Lanka trade balance deteriorated by 3.6-pct in January 2024
The deficit in the merchandise trade account widened to US dollars 541 million in January 2024 from US dollars 445 million recorded in January 2023, mainly with higher increase in imports. In addition, trade deficit in January 2024 widened compared to the deficit of US dollars 487 million in December 2023. Earnings from merchandise exports […]
Sri Lanka headline inflation decelerates in February 2024 to 5.9-pct
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100)1 decelerated to 5.9% in February 2024 from 6.4% in January 2024. This deceleration in the headline inflation is broadly in line with the projections of the Central Bank of Sri Lanka (CBSL). Food inflation (Y-o-Y) accelerated to 3.5% […]
Sri Lanka Purchasing Managers’ Index for Construction indicates expansion in Jan
Sri Lanka Purchasing Managers’ Index for Construction (PMI – Construction) indicates an expansion in construction activities in January 2024, as reflected by the Total Activity Index, which recorded an index value of 52.9. This marks the first time that the index exceeded the neutral threshold since January 2022. Many respondents mentioned that new construction work […]
Platned expands operations in Sri Lanka
Platned, a leading technology solutions provider headquartered in the United Kingdom, recently expanded its operations in Sri Lanka with a new state-of-the-art office. The company recognizes the potential of the skilled workforce in Sri Lanka and aims to leverage this talent pool to strengthen its Global Support Team. By hiring 100 new members over the […]
SriLankan Aviation College gains NVQ accreditation
SriLankan Aviation College, the training arm of SriLankan Airlines, successfully gained NVQ Level 6 status under the National Vocational Qualifications (NVQ) Framework. The NVQ accreditation will increase the national recognition for the programmes offered by SriLankan Aviation College and enhance the career prospects of graduates by validating their occupational competence. The NVQ accreditation certifies that […]
Reliance Consumer Products announces partnership with Sri Lankan beverage brand Elephant House
Reliance Consumer Products Limited (RCPL), the FMCG arm and wholly-owned subsidiary of Reliance Retail Ventures Limited (RRVL), today announced that it has partnered with Sri Lanka-headquartered Elephant House to manufacture, market, distribute and sell beverages under the Elephant House brand across India. This association will not only help RCPL bolster its growing beverage portfolio that […]
Sri Lanka – Vietnam explore opportunities in agricultural, forestry and fisheries: CCC
The Ceylon Chamber of Commerce hosted a high-level delegation from the Ministry of Agriculture and Rural Development of Vietnam, engaged in a working visit to strengthen bilateral relations between Vietnam and Sri Lanka, in the fields of agricultural, forestry and fishery. Organized in association with the Sri Lanka – Greater Mekong Business Council and the […]
‘s rating
Fitch Ratings has withdrawn Home Lands Skyline (Pvt) Ltd.’s (HLSL) National Long-Term Rating. Prior to the withdrawal, HLSL’s National Long-Term Rating was ‘A(lka)’ with a Negative Outlook. Fitch is withdrawing the rating because the agency does not have sufficient information to maintain the rating. Therefore, Fitch will no longer provide analytical coverage or ratings for […]
Dialog Enterprise joins CIO CONFLUENCE 2024 as exclusive enterprise connectivity partner
The Banks’ Chief Information Officers Forum (BCIOF) of Sri Lanka, the largest C-level forum in the banking and financial industry in Sri Lanka, comes together to host the highly anticipated CIO Confluence for 2024. The Conference will be held on Tuesday, 27 February, at the Shangri-La Colombo and will bring together CIOs and both locally […]
CBSL Responds to Concerns Regarding Staff Remuneration Revision
The Central Bank of Sri Lanka (CBSL) has acknowledged recent media coverage of comments made by Members of Parliament regarding the latest revision of employee salaries. The CBSL emphasized that it will provide further information once granted the requested opportunity to address Parliament or receive a formal request for clarification. Full Statement Central Bank of […]
Port City Colombo hosts networking session with Chairman of Commonwealth Enterprise and Investment Council
Port City Colombo (PCC) hosted a special business networking session with Lord Marland, Chairman of the Commonwealth Enterprise and Investment Council (CWEIC), recently at the Port City Colombo Sales Gallery. Acting as an excellent platform for PCC to present its upcoming investment prospects, this occasion showcased Lord Marland’s strong support for PCC’s investment promotion drive, […]
CSE launches version3 of its Business Intelligence Dashboard – CSE Market IQ
The Colombo Stock Exchange (CSE) recently launched the 3 rd version of its internal business intelligence dashboard coined the CSE ‘Market IQ’ (MIQ). This advanced version of the business intelligence dashboard, which was specifically designed to convert analysed data into insights for the convenience of internal stakeholders, is a major step into the future of […]