CCPI based headline inflation eased further in December 2022
Headline inflation, as measured by the year-on-year change in the Colombo Consumer Price Index decreased to 57.2% in December 2022 from 61.0% in November 2022 …
Economy & Markets
Switzerland extends cooperation for EDB to carry out Market Research
The Sri Lanka Export Development Board (EDB) signed a memorandum of understanding with the Swiss Import Promotion Programme (SIPPO) which operates under the …
Apptimus Tech, Jaffna’s software firm from bedroom to 7,000 square feet in 5 years
By Jekhan Aruliah The Yarl Geek Challenge has a strong record as nursery for tech startups. By 2022, its 11th season, YGC alumni have started more than 60 …
CSE announces changes in S&P Sri Lanka 20 index constituents
The Colombo Stock Exchange (CSE) announces the following change in S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2022 …
Sri Lanka reports negative 11.8-pct GDP growth for third quarter of 2022
The Department of Census and Statistics (DCS) Sri Lanka, has released the estimated Gross Domestic Product (GDP) at the current price and at constant (2015) …
Port City looks to kickstart SL’s economy, Benefits can start when regulations finalized
Designed to be a hub for international investment, trade, finance, entertainment, leisure and other services, Port City Colombo will not be able to operate in …
Opinion: A Casino Gaming Monopoly is Sri Lanka’s Best Option
December 13, 2022 (LBO) – Casinos in Sri Lanka have always been a subject of controversy, but also one that has transformational economic potential. With …
WB approves SL’s eligibility to access concessional financing to stabilize economy and livelihoods
The World Bank today approved Sri Lanka’s request to access concessional financing from the International Development Association (IDA). This type of …
Signs of Life in Sri Lanka’s Foreign Remittance Data
December 10, 2022 (LBO) – Sri Lanka foreign remittances are moving closer to a US$5bn annualized rate based on November monthly data. Sri Lanka …
Opinion: Billion Dollar Missed Opportunities – Sri Lanka’s Mineral Sector
December 7, 2022 (LBO) – Demystifying the Minerals Sector Why is it that many entirely legitimate investments by the private sector are immediately …
Coordinated program is required for Sri Lanka’s recovery – WB, ADB, IMF, AIIB
World Bank (WB), Asian Development Bank (ADB), International Monetary Fund (IMF) and Asian Infrastructure Investment Bank (AIIB) representatives decided that a …
World Bank Approves Sri Lanka’s Eligibility to Access Concessional Financing
The World Bank today approved Sri Lanka’s request to access concessional financing from the International Development Association (IDA). This type of …
USAID launch Island plastic challenge to help consumer goods companies address plastic waste
In support of the Ministry of Environment’s policy on plastic waste reduction, the United States Agency for International Development’s (USAID) …
Exterminators PLC transfers to CSE Diri Savi Board
The Ordinary Voting Shares of Exterminators PLC transferred from the Empower Board of the CSE to the Diri Savi Board with effect from 2nd December 2022, a …
Fitch downgrades Sri Lanka’s Long-Term Local-Currency IDR to CC; affirms RD Foreign-Currency IDR
FitchRatings has downgraded Sri Lanka’s Long-Term Local-Currency Issuer Default Rating (IDR) to ‘CC’, from ‘CCC’, and has …
CCC Proposals on State Owned Enterprise Reform
The presence of SOEs in strategic sectors of Sri Lanka is proof of the significant value creation it can generate through spillover effects. The societal …
Export earnings decreased by 8.2-pct y-o-y in October 2022
Earnings from the merchandise exports decreased by 8.18 % y-o-y to US$ 1,094.8 Mn in October 2022 as per the data released by Sri Lanka Customs. This was …
Deceleration in inflation expected to continue in ensuing period: Central Bank
The deceleration in inflation is expected to continue in the ensuing period, supported by subdued aggregate demand pressures, expected improvements in domestic …
Sri Lanka’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 …
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 …