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MAS Holdings’ calls for immediate and decisive action to resolve the current crisis
MAS Holdings, one of Sri Lanka’s largest private sector employers and exporters reiterates the need for immediate and decisive action to resolve the current economic and social crisis, in a peaceful and sustainable manner. Issuing a statement the organization said “Given the ensuing events, MAS as a responsible organization, unconditionally support the call for change […]
Joint Chambers call for repeal of 20th amendment in letter to President
Sri Lanka’s Joint Chambers of Commerce in a letter addressed to President Gotabaya Rajapakse has requested action to be initiated to repeal the 20th amendment to the constitution. The full text of the letter follows….. Letter by the Joint Chambers to H E the President Your Excellency, Current Economic and Political Situation The Private Sector, as […]
Bangladesh and Sri Lanka explore new investments and Blue economy potential
High Commissioner Professor Sudharshan Seneviratne drew home the importance of the tremendous potential both countries hold to work jointly towards a win-win situation on multiple areas of investments and be joint stakeholders in the blue economy having a shared interest in the Bay of Bengal. These ideas were discussed at a meeting held with the President […]
‘s special request for a Rapid Financing Instrument
The International Monetary Fund (IMF) will consider the special request made despite it being outside of the standard circumstances for the issuance of a Rapid Financing Instrument (RFI), the Ministry of Finance said. Minister of Finance M.U.M Ali Sabry P.C, met with the Managing Director of IMF Kristalina Georgieva on the 18th of April at […]
India supports Sri Lanka in expediting Extended Fund Facility with IMF
India will fully support the deliberations of Sri Lanka with the IMF, especially on the special request made for expediting an Extended Fund Facility (EFF), the Finance Minister of India Nirmala Sitharaman affirmed. The top-level Indian Economic delegation met with Finance Minister Ali Sabry at the IMF Headquarters – in Washington DC on the 18th […]
Manufacturing PMI increased month-on-month basis at slower rate
Following the seasonal pattern in manufacturing activities, the manufacturing PMI increased on a month-on-month basis to an index value of 57.8, yet at a slower rate than the previous years. This increase was mainly attributable to the improvements observed in production, new orders and employment sub-indices following the seasonal demand. The increase observed in new […]
I take current crisis as an opportunity to bring about change people expect: President
Address by the President Gotabaya Rajapaksa to the newly appointed Ministers after the swearing-in of the new Cabinet: Today, I am addressing you at a time when the country is facing one of the most difficult and challenging economic, political, and socially decisive time in the history of Sri Lanka. Today, I have appointed new […]
Colombo Stock Brokers Association defends the decision by SEC to temporarily close down CSE
Colombo Stock Brokers Association (CSBA) defends the decision by the Securities and Exchange Commission of Sri Lanka (SEC) to temporarily close down the Colombo Stock Exchange (CSE) for 5 business days as a warranted measure, considering the prevailing economic crisis in the country as well as the disruptions faced by traders in conducting day to […]
17 new Cabinet Ministers sworn in before President
17 new Cabinet Ministers were sworn in before President Gotabaya Rajapaksa at the President’s House in Colombo, today (18). They are: Dinesh Gunawardena – Public Administration, Home Affairs, Provincial Councils and Local Government Douglas Devananda – Fisheries Dr. Ramesh Pathirana – Education, Plantation Industries Prasanna Ranatunga – Public Security, Tourism Dilum Amunugama – Transport, Industries […]
SEC directs CSE to temporarily close stock market; CCC requests SEC to reconsider decision
The Ceylon Chamber of Commerce requests the Chairman of the Securities and Exchange Commission to reconsider the decision to direct the CSE to temporarily close the stock market for a period of five business days commencing from 18th April. “This action will be seen by market participants as akin to the unsuccessful attempt made to […]
‘s debt default?
The economic crisis in Sri Lanka appears to be getting worse by the day. Sri Lanka’s government has been forced to default on its entire $51 billion of external debt. There’s been a shortage of food, fuel and schools had to cancel exams for a lack of paper.It’s all led to weeks of anti-government protests […]
BASL calls upon Govt to desist from taking any steps to disrupt peaceful protests
The Bar Association of Sri Lanka (BASL) calls upon the Government to desist from taking any steps whatsoever to disrupt what is a legitimate exercise of the freedom of dissent of the people. Issuing a statement, the association said that they received credible information from its members of a number of police trucks being moved […]