The new Central Bank Governor Dr. Nandalal Weerasinghe said the objective of the sharp increase in interest rates is to drastically reduce the aggregate demand conditions already prevalent in the economy and thereby slowdown the production by increas

SriLankan Airlines has recorded its first profitable fourth quarter (4Q) since 2006 for the financial year that ended on March 31, 2022, with a group net profit of US $ 1.7 million, despite the pandemic challenges.

The Colombo Stock Brokers Association (CSBA) yesterday defended the decision by the Securities and Exchange Commission of Sri Lanka (SEC) to temporarily close down the Colombo Stock Exchange (CSE) for five business days, calling it a “warranted mea

As the government delegation is readying to meet the International Monetary Fund (IMF) officials today in Washington for programme support and other bilateral partners for bridge financing, the government is aware that the package from the Fund is no

Sri Lanka’s headline inflation measured by Hanke’s Annual Inflation Index hit a staggering 74 percent in the year through April 15, 2022 as prices from energy to staples to discretionary items received a jolt last month from the botched rupee flo

Sri Lanka’s unemployment rate fell to 4.6 percent in the fourth quarter in 2021, down from 5.2 percent in the third quarter and the same level stood a year ago, but the official data hides the true nature of Sri Lanka’s chronic labour market prob

Following up on a comment made at the monetary policy press conference on April 8, the Central Bank had slashed the dollar conversion and surrender rule to 25 percent from the 50 percent levels, which was effective from the fourth week of March as th

Nepal is asking citizens living abroad to deposit funds in domestic banks as part of efforts to ensure the financial system has enough liquidity and to preserve foreign exchange reserves, Finance Minister Janardan Sharma said on Saturday.

Sri Lanka’s sovereign rating could be in for ‘Default’ by Fitch and S&P Global Ratings as its first coupon payment in respect of the foreign currency debt comes due today (18th) since the government announced last week that it was going to a te

Sri Lanka’s listed corporate sector delivered yet another breakout quarter in the three months ended December 2021recording stellar growth, indicating that they had largely defied the macro-economic challenges, which came from the dollar and supply

Clarifying on its planned re-fleeting exercise, which has stirred much controversy, the national carrier SriLankan Airlines said all the aircraft leases will be funded through the airline’s current existing cash flows.

Fitch Ratings has downgraded the rating on SriLankan Airlines Limited’s (SLA) US$ 175 million government-guaranteed 7 percent unsecured bonds due 25 June 2024 to ‘C’ from ‘CC’.

In the absence of a functioning government and a subject minister in place, Sri Lanka’s private sector pharmaceutical importers who are already grappling with a severe foreign exchange shortage and an inefficient pricing mechanism fear a faster tha

Sri Lanka’s producer prices jumped 18.9 percent in the twelve months to February 2022, accelerating from the 17.3 percent in January, hitting a fresh high ahead of the rupee float causing runaway prices in the following month.

Fitch Ratings has revised the outlook on Sri Lanka’s banking sector to ‘Deteriorating’ from ‘Neutral’ as the fallout from the weakening sovereign credit profile and the worsening macro-economic conditions are expected to spillover into the

Former Prime Minister and United National Parliamentarian Ranil Wickremesinghe warned that Sri Lanka could run out of fuel in the second week of May or later in the month, after the current Indian credit line is exhausted, plunging the country furthe

Tundra Fonder, the Swedish-based asset manager specialising in frontier markets, recently pointed out how the botched rupee float under former Central Bank (CB) Governor Ajith Nivard Cabraal led to the rupee’s dramatic fall,

The yields of the Treasury bill auction yesterday jumped across the board to their highest levels in many years, in line with Friday’s 700-basis point rate hike by the Central Bank,

Sri Lanka’s essential food importers are struggling to settle US $ 50 million owed to their suppliers, imported under credit terms, due to the ongoing foreign exchange shortage while facing large exchange losses, owing to the depreciation of rupee.

Sri Lanka’s hope to revive its hard-hit tourism sector this year is likely to be shattered, as its key source market is exploring alternative destinations.

Nepal is tightening imports of cars, gold and cosmetics as its foreign exchange reserves have fallen, a central bank official said yesterday, after the government suspended the central bank governor and named his deputy the interim chief.

The private sector credit, which rose at a faster clip in 2021, has shown cracks during both January and February, as the monetary tightening and increasing macroeconomic uncertainty weighed heavily on the credit flows from banks to the real economy.

The Federal Reserve is expected to deliver two back-to-back half-point interest rate hikes in May and June to tackle runaway inflation, according to economists polled by Reuters who also say the probability of a recession next year is 40 percent.

Promoting inventions that support climate action is a key CSR initiative of NDB Bank. The bank embarked on this initiative by engaging with the Sri Lanka Inventors Commission (SLIC), which introduced the inventors to the bank.

Laugfs Supermarkets are rewarding their customers with exciting offers this Avurudu season.

Eric Rajapakse Opticians, Sri Lanka’s leading eyecare specialist with over 100 years of expertise, is lighting up the Avurudu season with special offers for credit card holders of several leading banks.

Malindu Dairy (Pvt.) Ltd, one of the leading local food production companies in Sri Lanka, won the Bronze award in the large-scale dairy and associated products category, at the Industrial Excellence Awards organised by the Industrial Development Boa

Following delays running into weeks, the Finance Ministry has finally called for Requests for proposals (RFPs) from reputed global firms to appoint financial advisors and legal consultants to support the country’s sovereign debt restructuring exerc

The Monetary Board, which met on Friday, removed the ceiling rates applicable on certain administratively managed lending products such as credit cards, pre-arranged temporary overdrafts and pawning facilities with the effective date to be announced

Sri Lanka has requested a meeting with the International Monetary Fund (IMF) today (April 11) as a precursor to the Spring Meetings starting next week where a delegation led by new Finance Minister Ali Sabry would fly to Washington D.C. to begin in p