Trading halted at CSE as S&P SL20 Index falls below 5% again

The Colombo Stock Exchange (CSE) had to halt trading in under 10 minutes after the S&P SL20 fell over 5 percent.

SL requests for another currency swap from B’Desh

Bangladesh announced today that Sri Lanka has reached out for yet another currency swap.

Trading halted at CSE as S&P SL20 Index falls over 5%

The Colombo Stock Exchange (CSE) announced that the market has been halted.

SriLankan suspends operations to Moscow

National carrier SriLankan Airlines announced today its decision to suspend operations to and from Moscow.

“Dump the rupee”: advices world renowned economist Prof. Hanke

Leading world expert on stopping hyperinflation, Steve Hanke shared that the only way to save Sri Lanka’s crumbling economy is to dump the rupee and instill a currency board.

Banks directed to sell 50% of worker remittances to CB every week

The Central Bank has directed all licensed banks to sell 50 percent of inward workers’ remittances to the Central Bank every week.

Chicken feed shortage drags down eggs production by 40%

The poultry industry is yet again faced with a shortage of chicken feed which has affected the availability of eggs in the local market.

Economic Council presented with 5-point proposal

The freshly appointed Advisory Committee to the Economic Council has put forward a five-point proposal for the revival of the national economy that is currently in turmoil.

SL ranks 2nd in Asia Pacific region for remote work

Sri Lanka ranks as the second most preferred destination in the Asia Pacific region for remote work, according to the ‘Work from Wherever Index’ from KAYAK.

IDD rate hike approved by TRCSL

International calling charges have been increased in Sri Lanka due to the floating of the Rupee.

President announces decision to work with IMF

Addressing the nation, President Gotabaya Rajapaksa today announced his decision to work with the International Monetary Fund (IMF) to explore a sustainable solution for the country to repay its foreign debt and build back its foreign reserves.

Economic Council to be assisted by 14–member advisory committee

The newly appointed 11-member Economic Council has been given a 14-member advisory committee for assistance.

Basil gets Cabinet nod to engage with IMF for technical support

The Cabinet of Ministers has taken a policy decision to let the Finance Minister Basil Rajapaksa to engage with the International Monetary Fund (IMF) to seek technical support to find solutions for the current economic crisis, says Cabinet Co-spokesperson Ramesh Pathirana.

First team of athletes arrive for Raid Amazones

The first female French athlete team for the 20th edition of Raid Amazones arrived in Sri Lanka today.

HSBC sells Greek retail bank as it sharpens Asia focus

HSBC announced on Monday it has agreed to sell its branch operations in Greece to local bank Pancreta Bank, as the lender further sharpens its focus on its biggest market Asia.

Top IMF official to visit SL this week to brief President

REUTERS: A senior International Monetary Fund (IMF) official will be visiting Sri Lanka on Monday and Tuesday to brief President Gotabaya Rajapaksa on the Fund’s assessment of the crisis-hit economy, Sri Lanka mission chief Masahiro Nozaki told Reuters.

LKR depreciates to the highest point in history

The Sri Lankan Rupee depreciated to the highest point in history today reaching Rs. 249 against the US Dollar.

Colombo Port City to add aquatic airport

The fast progressing Colombo Port City will see the addition of an aquatic airport, the Ministry of Tourism said.

Cabinet nod for nine-member Economic Council

The establishment of an Economic Council comprising of nine members received the Cabinet nod today.

Incentive for workers’ remittances increased to Rs.38

As the national economy is desperate for foreign exchange inflows, the Cabinet of Ministers today announced their decision to increase the incentive offered for foreign remittances.

CB devalues rupee to Rs.230 against USD

The Central Bank in a late night policy announcement today devalued the rupee to Rs.230 against the US dollar despite the Central Bank Governor Ajith Nivard Cabraal three days ago saying that the prevailing exchange rate was appropriate.

SriLankan Airlines partners with Manta Air

National carrier SriLankan Airlines announced its partnership with Manta Air today, a move which will connect passengers from Gan International Airport to Koodhdhoo City in Gaafu Alifu Atoll of Southern Maldives.

KPMG,PwC to exit Russia

Accounting firms KPMG and PricewaterhouseCoopers LLP (PwC) announced this Sunday their decision to exit Russia due its move to invade Ukraine.

CBSL further tightens monetary policy stance

The Central Bank of Sri Lanka (CBSL) announced today its decision to further tighten its monetary policy stance.

IMF tells SL to tighten monetary policy to counter inflation

Following the conclusion of the 2021 Article IV Consolation with Sri Lanka, the International Monetary Fund (IMF) has emphasized the need for tighter monetary policy to contain the rising inflationary pressures.

Chamath Palihapitiya Sued Over Insider Sale of Virgin Galactic Shares

BLOOMBERG: Chamath Palihapitiya took advantage of his insider role as chairman of Virgin Galactic Holdings Inc. to sell 10 million shares of the struggling space travel company for $315 million before he abruptly quit the board last month, a shareholder alleged in a lawsuit.

Public help sought to identify parties engaged in unauthorized forex dealings

The Central Bank of Sri Lanka (CBSL) called on for public help to identify those carrying out unauthorized foreign currency dealings.

Trading halted for second consecutive day

Trading at the Colombo Stock Exchange was halted for the second consecutive day today for 30 minutes as the S&P SL20 Index declined by 5 percent from the previous session.

SL to ink MoU with US Dept. of Agriculture to boost milk production

Sri Lanka will enter into a Memorandum of Understanding (MoU) with the United States (US) to improve the local capacity of milk production.

Govt. looking for investors re-open clay factory

Efforts are underway to initiate the manufacturing of clay related products at the We-Uda factory located at Kurunegala for which the government is on the lookout for potential investors.