Sri Lanka’s industrial sector heft took a surprising dive in May reflecting weaknesses in the apparel sector, which has been going....

With the foreign currency condition in the domestic market seeing a gradual improvement, the Central Bank (CB) appears to have taken a further conciliatory approach for imports, as it has recommended relaxing another batch of 900 goods but without ve

Sri Lanka has met all interim targets agreed with the International Monetary Fund (IMF) in return for the Extended Fund Facility....

The Sri Lankan government would want to see the Indian rupee used as much as the dollar, President Ranil Wickremesinghe said

With the government issuing less debt than before under the domestic debt optimisation (DDO) proposed recently

The government has finalised transaction advisors to assist in the proposed divestiture of seven state-owned enterprises (SOEs) as part of its SOE...

Analysts expect a further reduction of 100-200 basis points in policy interest rates by the Central Bank in the coming months, aiming to provide additional support for economic recovery, as inflation is projected to stabilise at the desired mid-singl

Credit extended by commercial banks to businesses and individuals has continued to contract for the 12th consecutive month in May amid Central Bank’s expectations that credit conditions should ease...

President Ranil Wickremesinghe this week called for more collaborative efforts among the regional peers, so that South Asia can boost its tourism sector.

The Central Bank slashed policy rates again by another 200 basis points yesterday, after delivering a 250 basis point cut in June

Amid the growing concerns among bank deposit holders regarding the potential negative consequences during the progress of the Domestic Debt Optimisation (DDO) initiative, senior economist and Verité Research Executive Director Dr. Nishan de Mel said

Barely into a year since the present administration opted for an International Monetary Fund (IMF)-assisted fiscal reset by raising taxes and rationalised spending, the budget is still running a higher deficit than....

There is a widespread expectation of an upcoming policy rate cut announcement by the Central Bank on Thursday (6th) to further relax the financing conditions in the market to support the economic recovery, as inflation expectations remain well-anchor

The food prices measured on a monthly basis rose for the second month in a row in June, albeit at a slow pace from a month ago, reflecting that the inflationary impulses still remain abound in the economy and the bulk of the heavy lifting in bringing

Given the anticipated shortfall in state revenue from the targeted levels, a former Central Banker casted doubts on the narrow scope in the proposed Domestic Debt Optimisation (DDO) strategy providing sufficient leeway for the government to get the f

The sluggish performance of Sri Lanka’s merchandise exports continued for the fifth straight month in May, as Sri Lanka’s main industrial export, apparel and textile products, dipped amid the slowdown in demand from the key markets.

Sri Lankan banks which took little interest towards deposits when interest rates were going up appear to have suddenly woken up to aggressively cut rates on such deposits when the rates are on their way down, leaving the hapless savers devastated fro

The Colombo Stock Exchange (CSE) investors took the impending Domestic Debt Optimisation (DDO) announcement positively, as both indices closed in green, with investors particularly showing interest in banking stocks, a sector many feared would be imp

Central Bank Governor Dr. Nandalal Weerasinghe strongly affirmed yesterday that the forthcoming domestic debt optimisation (DDO), set to be announced this week, will have absolutely no adverse effect....

Sri Lanka’s apparel sector, the largest foreign exchange earner and a key contributor to the debt-ridden economy, yesterday said it is “dismayed” by the zero revisions made to industrial electricity tariff rates by the Ceylon Electricity Board

The declining trend in apparel exports from Sri Lanka amid demand slowdown in key markets extended to the month of May, as earnings from such exports fell 14.17 percent year-on-year (YoY) to US$ 383.17 million.

Given that half of the population living in poverty in Sri Lanka is not covered by social protection schemes, the World Bank stressed it is essential to have increased transparency, inclusion, adaptability and accountability mechanisms to ensure the

Ceylon Tea exports have moved towards a positive growth trajectory in May, breaking the downward trend witnessed in the first four months of the year. Provisional data released....

Local and international media highlighting the plight of the estate sector workers, particularly in light of the economic crisis, have adversely impacted the reputation of Sri Lanka’s tea industry, as an incorrect portrayal....

Sri Lanka Banks Association (SLBA) representing all commercial banks in the country yesterday stressed the urgent need for the development of an effective insolvency regime in response to the sharp rise in loan defaults in the country.

HSBC Global Research has forecast further 500 basis points rate cut in Sri Lanka over the next four quarters after the country’s Central Bank.....

Sri Lanka needs to make efforts to use the ongoing global economic slowdown as an opportunity to rethink its growth strategy, as its economy is highly vulnerable and remains at a disadvantage compared to many of its competitors and peers, asserted an

Sri Lanka’s Gross Domestic Product (GDP) is estimated to have contracted 11.5 percent in the first quarter of 2023 from a year ago amid high interest rates, increased input prices, import restrictions and lower earnings from apparel exports, the De

The state-owned enterprises (SOEs) should be unchained from government control, regardless of whether they are profit or loss-making, if the benefits arising from their performance are to flow into the national economy, said Suresh Shah, the head of

Sri Lanka Customs officials this week told a parliamentary committee that it may not be able to achieve the revenue target set in the budget due to import restrictions slapped on certain categories of goods...