Sri Lanka secures USD 500Mn concessional financing from Republic of Korea
In order to further strengthen the economic cooperation between two countries, the Government of Republic of Korea has agreed to provide concessional loans …
Economy & Markets
Sri Lanka’s gross official reserves estimated at USD 4.5bn at end April 2021
Sri Lanka’s official reserves were 4.5 billion US dollars (USD 4,476.5mn) by the end of April, up from 4.1 billion US dollars in March, the latest Central …
Prime Minister elected Chair of the Asian Development Bank Board of Governors
Prime Minister Mahinda Rajapaksa, who, as the Minister of Finance, serves as the Governor for Sri Lanka of the Asian Development Bank (ADB), was elected Chair …
ComBank raises interest rate on ‘FC Plus’ foreign currency accounts to 4.5-pct per annum
The Commercial Bank of Ceylon has announced a significant increase in the interest rate offered to Sri Lankan Personal Foreign Currency (PFC) account holders, …
State Minister Cabraal visits Qatar to explore means to expand economic cooperation
A Sri Lankan delegation headed by the State Minister of Finance, Capital Market and State Enterprise Reforms Ajith Nivard Cabraal visited the State of Qatar …
Sri Lanka surpasses USD 1Bn exports in March 2021 after six months
Sri Lanka surpassed US$ 1 billion in exports in March 2021 after a lapse of six months period, the Export Development Board said. As per the Customs …
ADB projects Sri Lanka’s economic growth to rise to 4.1-pct in 2021
The Asian Development Bank’s (ADB) flagship annual economic publication, the Asian Development Outlook (ADO) 2021, forecasts a significant rebound in Sri …
Prime Lands Residencies announces virtual investor forum for upcoming IPO
Prime Lands Residencies, the condominium property arm of Prime Group, announces the first ever Virtual Investor Forum for its upcoming Initial Public Offering …
Sri Lanka’s Central Bank simplifies foreign exchange regulations
Sri Lanka’s Central Bank has revised regulations issued under the Foreign Exchange Act, No. 12 of 2017 (FEA) for further simplification and clarity …
AI for software testing – trends and advantages.
AI-powered software testing has long since made its debut, and as with any cutting-edge technology, it’s here to stay. This isn’t surprising, considering …
Opinion: Port City, Better economic governance, not giveaways should be focus of new governance zone
Deng Xiaoping China’s great reform leader, faced a serious problem in the 1970s. Thousands of young Chinese were crossing to Hong Kong risking their lives. …
Sri Lanka’s headline inflation increased to 5.1-pct in March
Headline inflation as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index has been increased to 5.1 percent in March 2021 from 4.2 …
CBSL introduces priority sector lending target on credit granted by banks to MSME sector
Sri Lanka’s Central Bank has introduced a priority sector lending target on credit granted by banks to individuals and businesses in the Micro, Small, …
First Capital Money Market Fund – fastest to reach LKR 20bn in assets under management
The First Capital Money Market Fund has been the fastest fund in its category (Open-Ended Money Market Fund) to surpassed LKR 20 billion in Assets Under …
Sri Lanka rupee strengthened against the US dollar
The Sri Lanka rupee further strengthened against the US dollar yesterday, on positive outlook for inflows. The selling rate was quoted at 191.97 rupees for a …
Sri Lanka Investment Forum to feature over 50 projects & corporate investment opportunities
Themed “Sri Lanka – Asia’s Next Growth Haven”, the Sri Lanka Investment Forum (SLIF) 2021 jointly organized by the Board of Investments (BOI), The …
Central Bank reduces exporter proceeds conversion rule to 10-pct
The Central Bank, having considered the requests made by exporters has amended Rule No. 2 of 2021 by reducing the percentage of mandatory conversion …
ADB should ramp up efforts to mitigate COVID-19 impact on SDGs: independent evaluation
The Asian Development Bank (ADB), in partnership with other development organizations, must give high priority to efforts to assess and address the …
Market capitalization of Colombo Stock Exchange increases by MoM 6.4-pct
Forex Market The USD/LKR TT buying and selling exchange rates on 12th April 2021 were marked at LKR 199.15 and LKR 203.73 respectively. The indicative USD spot …
China Development Bank signs USD 500Mn Financing Facility Agreement with Sri Lanka
China Development Bank (CDB) and Sri Lankan Finance Ministry on Monday signed USD 500 Million Foreign Currency Term Financing Facility (FTFF), which is the …