Banks restricted from purchasing ISBs of Sri Lanka to ease pressure on exchange rate
Dec 13, 2020 (LBO) – The Central Bank requires the licensed commercial banks and National Savings Bank (NSB) to suspend the purchase of Sri Lanka …
We will no longer take loans for projects, says Cabinet Spokesman
Dec 01, 2020 (LBO) – Sri Lanka's government has decided not to take loans for projects, Cabinet Spokesman Keheliya Rambukwella said. Speaking at the weekly …
Sri Lanka to extend restriction order on forex outflows by 6 months
Dec 01, 2020 (LBO) – Sri Lanka's cabinet of ministers has decided to extend the validity period of the order issued under the Foreign Exchange Act regarding …
Central Bank introduces maximum interest rate on mortgage-backed housing loans
Nov 26, 2020 (LBO) – Complementing the concessional loans schemes proposed by the Government in the Budget 2021, the Monetary Board of the Central Bank has …
European Union Delegation warns Sri Lanka over prolonged import ban
Nov 19, 2020 (LBO) – The current import restrictions are having a negative impact on Sri Lankan and European businesses, and on Foreign Direct Investment, …
8-pct VAT to be maintained for certain businesses; tax amendments proposed
Nov 17, 2020 (LBO) – Budget 2021 has proposed to have a consistent tax policy for the next 5 years. It is also proposed to establish a special tax appeals …
Budget 2021 proposes to simplify taxes on capital gains
Nov 17, 2020 (LBO) – Finance Minister has proposed to simplify the taxes on capital gains. Accordingly, such taxes will be calculated based on the sale price …
Sri Lanka can manage current debt obligations without IMF help, says Cabraal
Nov 12, 2020 (LBO) – Sri Lanka can manage the current debt obligations without seeking the help of the International Monetary Fund (IMF), State Minister of …
ICTA introduces Stay Safe COVID Tracer based on QR code to contain COVID-19
Nov 05, 2020 (LBO) – The “Stay Safe ” digital devise designed under the guidance of the Information and Communication Technology Agency of Sri Lanka …
Construction work of Sri Lanka’s first LNG power plant to kick-off this month
Nov 05, 2020 (LBO) – Construction work on the Lakdanavi Liquefied Natural Gas (LNG) power plant is expected to begin in late November, making clean energy …
Central Bank projects Sri Lanka economy to contract by 1.7-pct in 2020, grow by 5.0-pct in 2021
Nov 01, 2020 (LBO) – Sri Lanka's Central Bank projects the economy to contract by 1.7 percent in 2020, reflecting the impact of the pandemic induced fallout, …
Sri Lanka’s merchandize exports surpass USD 1 billion mark in September
Oct 13, 2020 (LBO) – Sri Lanka’s merchandize exports have surpassed the US$ 1 billion mark in September after July during this year, statistics of the …
Moody’s ratings downgrade unwarranted: Sri Lanka’s Finance Ministry
Sep 28, 2020 (LBO) – Sri Lanka's Finance Ministry says that the Moody’s ratings downgrade today is unwarranted. Releasing a statement shortly after …
Moody’s downgrades Sri Lanka’s ratings to Caa1, outlook changed to stable
Sep 28, 2020 (LBO) – Moody's Investors Service ("Moody's") has today downgraded the Government of Sri Lanka's long-term foreign currency issuer and senior …
UNICEF commends Sri Lanka for adopting policy reforms to ensure justice for children
Sep 24, 2020 (LBO) – The United Nations Children's Fund (UNICEF) is grateful to the Government of Sri Lanka for adopting two very important policy reforms …
GDP growth to record steepest contraction at -5.8-pct for 2020E; W-shape recovery ahead: FCR
Sep 15, 2020 (LBO) – First Capital Research (FCR) expects the GDP growth to record the steepest contraction at -5.8% for 2020 while the growth may continue …
Cabinet approval granted to revise Inland Revenue Act & Value Added Tax Act
Aug 27, 2020 (LBO) – Sri Lanka's Cabinet of Ministers has approved a proposal submitted to seek approval for directing the Legal Draftsman for the …
Ceylon Electricity Board announces power cut schedule
Aug 18, 2020 (LBO) – Ceylon Electricity Board says they are currently experiencing a severe capacity deficit due to the unavailability of Lakvijaya Power …
Sri Lanka’s exports surpass USD 1bn mark in July with V shape recovery
Aug 14, 2020 (LBO) – Sri Lanka’s exports have surpassed the USD 1 billion mark in July after six months time period where a similar achievement was only …
Swearing-in ceremony for Sri Lanka’s new Cabinet
Aug 12, 2020 (LBO) – The swearing-in ceremony for Sri Lanka's new Cabinet took place at the historic Magul Maduwa, the Audience Hall of Kandy Royal Palace at …