None of the loans discussed recently in public forums have been written off: People’s Bank
In view of the recent discussions in several public forums relating to the Non-Performing Assets (‘NPA’) portfolio of People’s Bank, the Bank …
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Take speedy actions to ensure food security: President instructs officials
Steps to formulate a National Fertilizer Policy expeditiously….Uncultivated government lands for young farmers...Cultivation Promotion Week for all …
SL CB reassures commitment to ensuring the availability of forex banking system for essential foods
The Ministry of Finance issued Import Control Regulations on Payment Terms No.07 of 2022, dated 06 May 2022, and to be effective from 20 May 2022, by …
World Bank Country Director for Sri Lanka rejects numbers
The World Bank Country Director for Sri Lanka, Faris H. Hadad-Zervos in a tweet has rejected the numbers mentioned in a statement issued by the …
World Bank to disburse around USD 700Mn to Sri Lanka within next few months
The World Bank Country Manager in Colombo, Chiyo Kanda, called on the Minister of Foreign Affairs Prof. G.L. Peiris at the Ministry of Foreign …
Aitken Spence creates history by recording its highest ever profit of Rs 14.2 bn for 2021/2022
The diversified blue-chip Aitken Spence PLC reported a profit before tax of Rs. 14.2 billion for the twelve months ended 31st March 2022 compared to …
Will provide full support to conduct duties independently, President says at meeting with CB Governor
President Gotabaya Rajapaksa had a meeting today (28) with the Governor of the Central Bank, Dr.P. Nandalal Weerasinghe and Monetary Board member …
Opinion: Debunking the great misconceptions of marketing
By Thanzyl Thajudeen For long, marketing has been narrowly misunderstood with numerous other terms. And the sole responsibility for this lies in the …
Fitch Downgrades Singer Finance, Places Four Sri Lankan Finance & Leasing Companies on RWN
Fitch Ratings has downgraded Singer Finance (Lanka) PLC's (SFL) National Long-Term Rating to 'A-(lka)' from 'A(lka)' and placed the rating on Rating …
IMF staff concludes virtual mission to Sri Lanka
An International Monetary Fund (IMF) team led by Peter Breuer and Masahiro Nozaki conducted a virtual mission with the Sri Lankan authorities during …
We hope that the negotiations on bridging funds from Japan will conclude soon: President
President Gotabaya Rajapaksa expects that the negotiations now underway regarding bridging funds from Japan will conclude soon. The President made …
Losses from SL riots manageable for insurers; gross losses to exceed LKR1bn: Fitch Ratings
Sri Lanka’s state-owned National Insurance Trust Fund Board’s (NITF, A+(lka)/Rating Watch Negative) Strike, Riot, Civil Commotion and Terrorism …
Central Bank announces new measures to support banking sector & facilitate credit flow
Sri Lanka's Central Bank has decided to implement new regulatory measures to support the banking sector to facilitate effective financial …
PM takes oaths as Minister of Finance, Economic Stabilisation & National Policies
Prime Minister Ranil Wickremesinghe was sworn in as the Minister of Finance, Economic Stabilisation and National Policies. The swearing in took place …
JKH recurring EBITDA grows 152-pct to Rs.39.26Bn for 2021/22
The Group witnessed a strong recovery momentum during the year under review with the recurring performance of most of our businesses reaching …
UN assures assistance to Sri Lanka in addressing current economic challenges
The Minister of Foreign Affairs Prof. G. L. Peiris met the UN Resident Coordinator in Colombo, Hanaa Singer- Hamdy on 23 May, 2022 to discuss …
Ceylon Chamber call for few more edits to the 21st amendment to the constitution of Sri Lanka
In a letter to the Minister of Justice, Constitutional Affairs and Prison Reform the joint Chambers of Commerce has called for a further …
Cabinet approval to introduce new mechanism to decide monthly fuel prices
A committee consisting of representatives of the Ministry of Power and Energy and other relevant agencies will be appointed to make recommendations …
India provides fresh loans to purchase petroleum products
In view of the prevailing economic situation in the country, a short term loan facility of US $ 500 million with the assistance of the India …
Financial services company Lazard & law firm Clifford Chance appointed for debt restructuring
The Cabinet has previously approved the provision of the services of an International Financial Adviser and an International Legal Adviser for the …
Private Tutoring Amidst Sri Lanka’s Economic Crisis: Issues Faced by Students
By Usha Perera Sri Lanka’s education sector, still reeling from the effects of the COVID-19 pandemic, now faces acute challenges due to the current …
NCPI based headline inflation accelerated to 34-pct in April; food inflation increased to 45-pct
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index increased to 33.8% in April 2022 from 21.5% …
New Foreign Secretary Aruni Wijewardane assumes duties
The new Secretary to the Ministry of Foreign Affairs, Aruni Wijewardane assumed duties at the Foreign Ministry on 23 May, 2022. She was appointed as …
Sri Lankan merchandise exports grew to an all-time record for the month of April
Earnings from the merchandise exports increased by 11.87% y-o-y to US$ 915.3 Mn in April 2022, the highest monthly value recorded for the month of …