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Commercial Bank now brings PayPal-linked withdrawals for customers
Enables channeling of global digital earnings directly into bank accounts via ComBank Digital The Commercial Bank of Ceylon, reaffirming its leadership in introducing the latest global financial technologies to Sri Lanka, has announced the availability of PayPal-linked withdrawal functionality for eligible customers to seamlessly channel their global digital earnings directly into their Commercial Bank accounts […]
IMF Board Approves Sri Lanka’s Fifth & Sixth Reviews, Unlocks USD 695 Mn for Reforms
The International Monetary Fund’s Executive Board has completed the combined Fifth and Sixth Reviews of Sri Lanka’s Extended Fund Facility, unlocking immediate access to SDR 508 million (approximately US$695 million) to bolster the country’s economic policies and reforms. Performance under the program has been described as broadly strong. Key prior actions, including restoring fuel and […]
Sri Lanka’s Banking sector assures it is stable, equipped to address fraud incidents
Sri Lanka’s banking sector has provided a collective and categorical assurance that it remains stable, resilient, and secure despite a few recent isolated incidents of financial fraud, emphasising that these developments do not pose a threat to the safety of customer deposits or the overall integrity of the financial system. While acknowledging that such incidents […]
Sri Lanka Unveils South Asia’s First Solar Bakery Oven in Landmark Clean Energy Milestone
Sri Lanka became the first country in South Asia to unveil a solar hybrid bakery oven, designed with both solar and biogas energy sources to ensure uninterrupted operation despite unpredictable weather conditions. The event, held on 22 May at Cinnamon Lakeside Colombo, was hosted by Incitare Sri Lanka and the Global Rethinking Finance Collaborative (GRFC), […]
Central Bank increases Overnight Policy Rate to 8.75-pct
The Monetary Policy Board, at its meeting held yesterday, decided to increase the Overnight Policy Rate (OPR) by 100 bps to 8.75%. Standing Deposit Facility Rate (SDFR) and Standing Lending Facility Rate (SLFR), which are linked to OPR with predetermined margins of ± 50 bps, are also increased to 8.25% and 9.25%, respectively. The Board […]
Sri Lanka’s Exports Surpass USD 5.7 Bn in First Four Months of 2026
Sri Lanka’s total exports, including both merchandise and services, reached US$ 1,380.93 million in April 2026, marking a year-on-year growth of 6% compared to April 2025. Based on provisional data from Sri Lanka Customs, along with estimated figures for Gems & Jewellery and Petroleum Products, merchandise exports in April 2026 rose by 9.87% to US$ […]
FCCISL Appoints Rohitha Silva as President; Set to Roll Out ‘Vision Sri Lanka 2027’
Continuing its long-standing service to the nation at its 49th Annual General Meeting., the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) has appointed veteran entrepreneur and idac Chairman, Dr. Rohitha Silva, as its President for the 2026 to 2028 term. With an illustrious 53 year history, the FCCISL has continually evolved […]
CBSL introduces maximum Loan to Value ratio for gold backed lending & tightens LTV ratios for motor vehicles
The Governing Board of the CBSL decided to introduce a maximum LTV ratio for credit facilities secured by gold and tighten the maximum LTV ratios applicable to credit facilities granted in respect of motor vehicles with effect from 25 May 2026. These steps are taken by the CBSL in line with its macroprudential authority, in […]
Foreign Minister Vijitha Herath to Visit Australia and New Zealand
Minister of Foreign Affairs, Foreign Employment and Tourism, Vijitha Herath, will undertake an official visit to New Zealand and Australia from 26 May to 3 June 2026, at the invitation of the two Governments. During the visit, Minister Herath will hold bilateral discussions with his counterparts, Minister Winston Peters of New Zealand and Minister Penny […]
The EV Powerhouse XPENG G6 is Ready to Challenge the Tesla Model Y
The world is witnessing the rise of a new generation of technology companies that are no longer limiting themselves to one industry, one product, or one idea. Among them, XPENG has rapidly emerged as one of the most fascinating names redefining the future through artificial intelligence, robotics, intelligent mobility, and futuristic engineering in the global […]
Commercial Bank among the first banks to partner with Port City Colombo to open a branch
Demonstrating its commitment to supporting the nation’s next phase of economic transformation, Commercial Bank of Ceylon has become one of the first banks in Sri Lanka to enter into an agreement to establish a fully-fledged branch at Port City Colombo, marking a significant step in the Bank’s strategic expansion into the country’s emerging international financial […]
Prime Melwa Formally Commences Asia’s Global Marina-Front Architectural Masterpiece
Prime Melwa Port City (Pvt) Ltd has formally commenced its highly anticipated world-class marina living experience at Port City Colombo, marking a significant milestone in the development of one of the region’s most prestigious waterfront residential destinations. Positioned as Asia’s Global Marina Front Masterpiece, the landmark project is poised to redefine luxury waterfront living in […]