SL needs to return to 2019 tax system: PM

Prime Minister Ranil Wickremesinghe asserted the need for Sri Lanka to return to the tax system of 2019 so that the ongoing strain on the economy eases.

CB says Governor Weerasinghe has cordial relationship with PM

The Central Bank (CBSL) today dismissed claims circulating on social media regarding disputes between Governor Dr. Nandalal Weerasinghe and Prime Minister Ranil Wickremesinghe.

Capital expenditure from 2022 budget to be reallocated for welfare

In a bid to support the needy communities whose conditions have worsened with the ongoing crisis, the Cabinet of Ministers has decided to increase the welfare extended to such groups.

Special tax incentives for foreign investors in Port City

Foreign investments in the Port City will receive massive tax concessions, a move by the government to lure investors into the country.

Mega surfing carnival coming up in July

Sri Lanka is gearing up to host a mega surfing carnival by the end of July, an effort to promote the destination and lure international travelers to uplift the struggling tourism sector.

SL seeking $3 bn under IMF Extended Fund Facility

Sri Lanka is in talks with the International Monetary Fund (IMF) to borrow at least $3 billion via the lender’s extended fund facility (EFF), sources familiar with the matter told Reuters.

SL kicks off tax reform process to boost revenue

The Prime Minister’s Office announced today a series of tax reforms that will be implemented within the year.

Rs. 695 bn Supplementary Budget receives cabinet nod

The proposal to submit a supplementary estimate for the provision of Rs. 695 billion under the ‘Budget Assistance Services and Emergency Responsibilities’ project of the National Budget Department received the Cabinet nod on Monday.

CBSL affirms availability of forex for essential imports

The Central Bank today reassured its commitment to ensuring the availability of foreign exchange within the banking system for the importation of essential goods, including the food items, in the ensuing period.

IMF concludes virtual mission in SL

The International Monetary Fund (IMF) concluded the virtual mission to Sri Lanka today following technical discussions with the economic team led by Governor of the Central Bank of Sri Lanka Dr. Nandalal Weerasinghe and Secretary to the Treasury Mahinda Siriwardena.

Port City invites Indian media to witness project progress

Port City Colombo has facilitated a familiarization tour for selected journalists from India to experience firsthand the development of the project.

Export bans could worsen global food insecurity: IMF

The IMF cautioned this week that the ongoing food insecurity across the world could worsen if countries go forward with their export bans.

SL Tourism Chief steps down

Sri Lanka Tourism Chief Kimarli Fernando announced she has stepped down from the post following a request from newly appointed Tourism Minister Harin Fernando.

SL picks Lazard, Clifford Chance as advisers for landmark debt restructuring

Sri Lanka has hired heavyweight financial and legal advisers Lazard and Clifford Chance as it prepares for the difficult task of renegotiating its debts, a trio of sources told Reuters on Monday (May 23).

CBSL maintains monetary policy stance at latest review

The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 18 May 2022, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at the current levels of 13.50 per cent and 14.50 per cent, respectively.

WTO launches new data portal

The WTO has launched a new data portal to provide easy access to key databases offering trade statistics and information on WTO members’ trade-related measures.

SL explores investment opportunities in Nepal’s hydropower sector

Hydropower companies in Sri Lanka held discussions recently with Nepal’s Ministry of Energy, Water Resources and Irrigation (MOEWRI) and Nepal Electricity Authority (NEA) on the investment opportunities for hydropower development.

India halting wheat exports threatens to drive food prices further up

India’s move to manage its food security by way of restricting wheat exports threatens to drive food prices further.

PM Wickremesinghe cautions harsher times ahead

Prime Minister Ranil Wickremesinghe today presented to the general public the harsh reality of the status of the national economy and pointed out what is in store for the people and businesses in the coming months.

Saudi Aramco beats Apple to become world’s most valuable company

Saudi Aramco has become the world’s most valuable company, a position that was held by Apple.

CBSL launches Green Finance Taxonomy

The Central Bank has launched the Sri Lanka Green Finance Taxonomy, a classification system that defines and categorizes economic activities that are environmentally sustainable.

Austalia govt. sends out stronger travel advisory

The Australian government sent out a stronger travel advisory to those looking to visit Sri Lanka. Travelers were urged to reconsider their plans in visiting the island nation.

CB Chief says will step down if political instability continues

Central Bank Governor Dr. Nandalal Weerasinghe said he will step down from the post if the political instability in the country continues.

Cultural sites remain open: SLTDA

Cultural sites such as Sigiriya, Polonnaruwa, Anuradhapura, and the Temple of Tooth Relic are open for international tourists despite the ongoing curfew.

Stock market remains closed: CSE

The stock market will remain closed today as well, market operator Colombo Stock Exchange (CSE) said.

IMF says technical talks will continue as planned until new govt. is formed

The International Monetary Fund (IMF) today said it would continue technical level discussions with Sri Lanka to be prepared for policy discussions when a new government is formed.

Tea, rubber auctions postponed

The tea and rubber auction that was scheduled for today has been postponed, the Traders Associations of the commodities said.

Tourists instructed to use travel documents as curfew pass

The Sri Lanka Tourism Development Authority (SLTDA) announced a short while ago that international travelers currently in the country should use their travel documents as a curfew pass.

WB expresses fresh concerns on SL

The World Bank (WB) shared today its concerns on the current status of Sri Lanka as protestors came under attack by pro-government supporters.

Trade unions to go on indefinite strike from midnight

Taking a firm stand against the violence incited against peaceful protestors who have been calling for the establishment of a people’s government for nearly a month, trade unions across the country will withdraw from services tomorrow.