CBSL says no intention of regulating interest rates

​The Central Bank last week said it does not want to intervene in setting the interest rates, and will leave them to market forces.

National prices accelerate to 2.4% in June

Sri Lanka’s inflation, measured by the National Consumer Price Index, gained pace in June to 2.4 percent from a year ago, from 1.6 percent through May, as the food prices rose in June, largely due to the weather-related disruptions to the crops.

Experts renew call for state intervention to boost female workforce participation

Sri Lanka’s alarmingly low female labour force participation has once again sparked expert ....

Bingiriya export processing zone expansion kicks off

With Sri Lanka’s intensified efforts towards export orientation, the government has launched initiatives....

Semasinghe stresses urgent need to expand non-debt foreign exchange inflows

As Sri Lanka nears the end of its complex debt restructuring process, State Minister Shehan Semasinghe called on economic stakeholders to help lay the groundwork for recovery and growth.

Urgent need for SL to integrate into global value chain: Economist

As Sri Lanka grapples with the ongoing global economic challenges, a senior economist asserted the urgent need for the island nation to integrate into the global value chain, so that it can achieve its ambitious growth plans.

Govt. to launch Rs.2 bn loan scheme to uplift women–led SMEs  

Women entrepreneurs in Sri Lanka are set to receive a fresh push from the government, with the launch of a new loan scheme aimed at supporting their Small and Medium Enterprises (SMEs).

Experts call for structural reforms to boost Sri Lanka’s trade success

Amid the intensified government efforts to capitalise on trade liberalisation through new preferential agreements, international trade experts stress the need for structural changes in Sri Lanka’s production sector before pursuing new pacts.

Sri Lanka’s bondholder talks to finalise as early as next week

Sri Lanka is upbeat about firming up talks with the bondholders, which will assist the island nation to come out of the ‘selective default’ status faster. President Ranil Wickremesinghe shared that finalisations can be reached as early as next week.

No immediate impact on nominal debt stock via restructuring: Finance Min.

Since official creditors provide debt relief through maturity extensions and interest rate reductions, there is no immediate impact on the nominal debt stock through restructuring, the Ministry of Finance said.

Colombo inflation gains pace in June to 1.7%

Inflation in the Colombo district accelerated in June as widely expected, mainly due to the higher food prices, but the prices still remain largely below Central Bank’s medium term target of 5 percent.

United Republic Front Leader Champika Ranawaka demands scientific debt strategy

Opposition MP and Leader of the United Republic Front, Patali Champika Ranawaka, urged the government to adopt a scientific....

Industrial production maintains momentum with 8.8% increase in Dec.

Sri Lanka’s industrial production is seen to be gradually recovering from the prolonged weakness induced by the economic ....

Remittances income up 11.4% in January

Earnings from remittances from Sri Lankan migrants rose by 11.4 percent in January 2024 to US$ 487.6 million, continuing....

Government credit surges in December amid CPC balance sheet restructuring

In December 2023, the net credit extended to the government by the banking system surged by more than half a trillion rupees....

Concerns mount over possible negative real yields after plunge in bill yields

The sharper fall in bill yields in last couple of weeks, and specially the plunge seen at this week’s primary auction has sparked concerns.

Foreign reserves grow shy of US$ 100 mn in January

Gross official reserves held by the Central Bank continued to build up as increased current account inflows in recent times mostly helped it to remain a net buyer of foreign currency from the domestic banking system.

India’s interest in SL’s SOEs continues

India continues to show interest in Sri Lanka’s state-owned enterprises (SOEs). The majority of the bidders for the government-owned Canwill Holdings (Pvt.) Ltd are from the neighbouring giant. While a total of six companies have prequalified as bidders for the divestiture of the government’s shares in Canwill Holdings, five are from India and one is from Sri Lanka. The State-Owned Enterprises Restructuring Unit of the Finance Ministry shared tha

Foreign Minister urges biz community to take lead in ensuring policy consistency

Foreign Minister Ali Sabry urged Sri Lanka’s business community to step up efforts in demanding and ensuring policy consistency...

Foreign exchange controls to be lifted gradually

The Cabinet greenlighted the proposal to gradually lift some restrictions imposed on rupee conversions for outward remittances ...

Sri Lanka ends 2023 with highest BOP surplus in six years

Sri Lanka closed 2023 with its first balance of payment (BOP) surplus in four years and the highest since 2017, as the country recorded a positive balance in the external account of US $ 2,826 million last year. This is in comparison to the deficit of US $ 2,806 million recorded in 2022, when the country fell into its worst economic crisis caused by the shortage of foreign currency. The last time the country recorded a positive BOP was back in 20

Foreigners show renewed optimism in Sri Lankan gilts

The foreign investors were adding Sri Lankan government securities into their holdings in the last couple of weeks, reversing a recent sell off seen in the middle of January. According to the data, the foreigners had added Rs.5,470 million worth of treasury bills and bonds in the last two weeks, at Rs.3,636 million and Rs.1,834 million, respectively, bringing the total foreign holdings of rupee treasuries to Rs.114,413 million. For the year howev

Human-elephant conflict: Can insurance help affected communities?

In 2019, Sri Lanka recorded the highest reported elephant deaths and second highest number of human deaths in the world, due to the human-elephant conflict (HEC).

SEC releases Capital Market Strategy 2020

The Securities and Exchange Commission of Sri Lanka (SEC) has released the ‘Capital Market Strategy 2020’, a comprehensive transformative plan for Sri Lanka’s capital market, with the intention of providing strategic clarity to market participants and the public. 

CT CLSA National budget 2017 highlights

Finance Minister Ravi Karunanayake presented Sri Lanka’s national budget for 2017 in parliament on November 10, 2016.

Common opposition vows to create manufacturing-led economy

The common opposition, fielding Maithripala Sirisena as its presidential candidate, recently pledged to replace the current consumption-led economy with a more sustainable manufacturing-led model.Sri Lanka skipped industrialization, trading for an easy service economy, which currently accounts for 59 percent of the country’s Gross Domestic Product (GDP). This has made the country import-dependant even on certain basic necessities.

January-October exports top US $ 9.1bn

Sri Lanka’s January – October YoY exports have improved 9 percent while an export product that recently faced volatile EU markets showed a promising turnaround, a statement by Industry and Commerce Ministry said.“For the month of October 2014 alone our provisional exports were at US $ 900 million and this is only merchandise exports without taking into account service exports such as ICT,” Export Development Board CEO/

November inflation at 1.5%; deflationary pressure looming?

Sri Lanka’s inflation in November fell for the fourth consecutive month Year-on-Year (YoY) to 1.5 percent from 1.6 percent a month ago, recording the lowest headline inflation seen in five years, according to data released by the Department of Census and Statistics (DCS).With headline inflation reaching near zero levels, Sri Lanka may now have to worry about a looming deflationary economy, similar to now struggling Euro region and Japan

Sri Lanka, Africa Emerging As Largest Export Markets For Hero Motocorp

EconomicTimes: Sri Lanka and Africa are fast emerging as the largest export markets for Hero MotoCorp, according to the company’s Vice-Chairman and Managing Director, Pawan Munjal.

Dockyard net profit plunges amid ship-building under performance

The net profit of Japan’s Onomichi Dockyard owned Colombo Dockyard PLC saw its September quarter net profit (3Q14) dwindling over 80 percent yearon-year (yoy) to Rs.36.3 million, amid its main shipbuilding segment under performing.As a result, the quarterly earnings per share deteriorated t o 51 cents from Rs.2.68.