The Cabinet of Ministers approved the proposal presented by the President in his capacity as the Minister of Finance, Economic stabilization and National Policies to enter in to  agreements to obtain a loan of USD 150 million from the World Bank for the implementation of the project to strengthen the safety net of the financial […]

The Cabinet of Ministers has green-lighted a proposal seeking to enter into necessary agreements with the World Bank to secure financing under the Sri Lanka Financial Sector Safety Net Strengthening Project.

The U.S. on Tuesday began imposing visa bans on people involved in violence in the Israeli-occupied West Bank, Washington officials said, after several appeals for Israel to do more prevent violence by Jewish settlers.

Minister of Justice, Prison Affairs and Constitutional Reforms, Dr. Wijeyadasa Rajapakshe, on Monday, unveiled a plan to introduce a new legislative framework to regulate microfinance institutions in the country. The Minister told a press conference that a large number of unregistered microfinance outfits operated and the unregulated proliferation of such firms was a serious problem. […]

The Central Bank of Sri Lanka (CBSL) together with the Foreign Employment Bureau (SLBFE), through licensed commercial banks, commenced popularizing the new ÂManusavi Migrant Worker Loan Scheme from Monday (Dec.04).

Sri Lanka will get about $600 million, on a staggered basis, from the Asian Development Bank after the International Monetary Fund releases the second tranche of a $2.9 billion bailout for the crisis-hit country, an official said on Tuesday.

Minister of Justice, Prison Affairs and Constitutional Reform, Wijayadasa Rajapakse, unveiled plans to introduce a new legislative framework aimed at regulating microfinance institutions operating within the country. Expressing deep concern regarding the unregulated status of certain microfinance entities, Minister Rajapakse emphasized the necessity for decisive measures. He underscored the intent...

by Ifham Nizam Political instability is one of the biggest stumbling blocks when it comes to managing climate vulnerability, a senior climate scientist has warned. Speaking at a recent symposium titled ‘Poverty Alleviation in an Era of Economic Crisis’, former Director of the Natural Resources Management Centre (NRMC) of the Ministry of Agriculture Dr. Ranjith […]

Hirun recalled after impressive performance for St. Joseph’s by Reemus Fernando Trinity College spinner Dinuka Tennakoon has found a place in the Sri Lanka Under 19 team for the upcoming Under 19 Asia Cup while St. Joseph’s College opener Hirun Kapurubandara has been recalled after being sidelined for the previous youth assignment. Left-arm spinner Tennakoon […]

‘Politicians and public must behave better’ by Rathindra Kuruwita  Sri Lanka has done extremely well on the economic front during the last 18 months, says former Governor of the Central Bank of Sri Lanka (CBSL) Dr. Indrajit Coomaraswamy. Dr. Coomaraswamy revealed his assessment of the country’s economic recovery process while addressing a Centre of Poverty […]

Former Pakistani Prime Minister Imran Khan, currently in jail facing what he says are more than 150 cases filed against him to keep him from contesting elections next year, has been replaced as head of the party he founded, officials say. One of Khan’s lawyers was elected on Saturday as chairman of his Pakistan Tehreek-e-Insaaf […]

What has been widely described as the “historic” Supreme Court judgment which by a majority 4-1 decision of a five-judge bench held the Rajapaksa brothers, Mahinda, Gotabaya and Basil and other unelected officials including two past Governors of the Central Bank, a former Secretary to the President, a former Treasury Secretary and some members of […]

ECONOMYNEXT –Sri Lanka’s non-performing loans after the latest currency crisis is showing signs of having peaked but some sectors are hit worse than others with problem loans dating back from Coronavirus moratoriums, a banking official said. Hotels, transport and arts and entertainment sectors had bad loans of 30 to 20 percent, while the overall level […]

Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100)1 increased to 3.4% in November 2023 from 1.5% in October 2023. This increase in the headline inflation is mostly in line with the projections envisaged by the Central Bank of Sri Lanka (CBSL) in November 2023. The Food […]

COYLE in collaboration with Nations Trust Bank PLC, marked a significant milestone on the 20th of November 2023 with the successful conclusion of its Leadership Forum themed, “People, Planet, Paradise”. The event, hosted at Taj Samudra, aimed to inspire and empower the thriving young professionals of Sri Lanka to embrace entrepreneurship by recognizing their pivotal […]

The Colombo Stock Exchange (CSE) has approved in principle the listing of Commercial Bank of Ceylon’s Rs 6 billion Debenture Issue, opening on December 12th 2023, a Commercial Bank press release said. The release adds: ‘The Bank has announced an initial issue of 60 million Basel III Compliant – Tier 2 Listed Rated Unsecured Subordinated […]

By Hiran H.Senewiratne The investor sentiment at the Colombo Stock Exchange (CSE) was positive throughout yesterday due to the successful conclusion of external creditors’ bilateral agreement with the government on the external debt restructuring exercise, market analysts said. Due to these developments banking sector counters showed a significant improvement anticipating Rating Agencies would upg...

Dr. P. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, attended, by invitation, the Economic Dialogue Series held in Berlin under the theme “Inflation Kills Democracy: Fiscal Rationality as the basis of Functioning Communities” on 21 November 2023. This event was organised by the Federal Ministry of Finance, Germany. Governor Weerasinghe presented Sri […]

Heavy fighting has broken out across the Gaza Strip, as the Israeli military resumed combat operations against Hamas after efforts to extend the truce failed. The resumption of hostilities came at about 7am local time (05:00 GMT) on Friday, as the deadline for the end of the week-long pause passed. Israeli air strikes have been […]