Category: Economy and Markets
‘s Central Bank maintains policy interest rates at their current levels
The Monetary Board of the Central Bank has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 14.50 percent and 15.50 percent, respectively, after considering the recent and expected developments in the domestic and global economy and macroeconomic projections. […]
65-pct probability for rates to remain unchanged at upcoming policy review: FCR
First Capital Research (FCR) assigns a probability of 65% for policy rates to remain unchanged at the upcoming monetary policy review while also assigning a 35% probability for a relaxation in policy rates. Moreover, considering the persistent negative liquidity in the banking system, they have assigned a lower probability of 20% for a cut in […]
Ceylon Chamber calls for independent Central Bank
The Ceylon Chamber of Commerce is firmly of the view that institutions like the Central Bank of Sri Lanka should be allowed to function independently in performing its mandate as in most other countries, particularly at this stage when the country is grappling with a major economic crisis. We emphasize the need to reintroduce the […]
CICT pledges USD 25,000 for sight-saving surgeries in Sri Lanka
Another group of Sri Lankans with correctable eye diseases and disorders will soon begin surgery to restore clearer vision, thanks to the latest phase of a community initiative of Colombo International Container Terminals (CICT) in partnership with the Nawaloka Hospital. CICT recently donated US$ 25,000 (Rs 9.25 million at current exchange rates) it has pledged […]
Encouraging Sri Lanka’s youth to pursue entrepreneurship: Ceylon Chamber and ILO
As Global Entrepreneurship Week 2022 shines the spotlight on the importance of entrepreneurship to economic growth, the International Labour Organization in collaboration with the Ceylon Chamber of Commerce is implementing a series of initiatives to facilitate a change in the entrepreneurial ecosystem and bolster young people’s transition into the entrepreneurial world. Conducted under the aegis […]
CFA Society Sri Lanka joins CSE to ring the bell for financial literacy
“Investors need to be aware of the products and services that capital markets and financial markets offer.” – CSE Chairman “Financial Literacy is a body of knowledge which involves economics, business mathematics, logical skills, and the ability to apply those skills in a setting which requires you to make finance-related decisions.” – CFA Society SL […]
President to Inaugurate Sri Lanka Economic Summit 2022
The upcoming Sri Lanka Economic Summit 2022, the foremost and most anticipated annual economic event in Sri Lanka, will be inaugurated by the Chief Guest, President Ranil Wickremesinghe, under the theme Resetting from Turmoil to Opportunity on 5th December at the Shangri-La Hotel, Colombo. This year the Summit will focus on key levers that will […]
First Capital forges ahead amidst a challenging economic environment
First Capital Holdings PLC (the Group) recorded a Profit after Tax of Rs. 823Mn for the six months ended 30th September 2022 compared to Loss after Tax of Rs. 303Mn in the corresponding period of the previous year. The Primary Dealer division reported a Profit after Tax of Rs. 1.1Bn for the six months ended […]
CCC says budget is in right direction but stresses implementation is key to success
The Ceylon Chamber of Commerce observes that the National Budget for 2023 contains many laudable reform proposals which, if implemented in a timely manner, will complement the on-going fiscal reforms outlined prior to the Budget. Full Statement It is refreshing to see that the direction of the budget is towards reforms as compared to unsustainable […]
Group Chairman SLT proposes four fundamental policies to transform loss-making SOEs
While selling assets may be the easiest solution to ward off the national crisis Sri Lanka currently faces, another option lies in transforming loss-making SOEs (State Owned Enterprise) whose rich assets can be turned around to profitability driven and managed by clean, experienced corporate executives, said the SLT Group Chairman Rohan Fernando. He made these […]
Budget 2023: Download Budget Speech (Text)
Budget Speech 2023: DOWNLOAD