CFA Capital Market Awards 2022 fetes best in the investment profession
The ninth annual CFA Capital Market Awards, organized by the CFA Society Sri Lanka, was held on Wednesday (29 June) at the Oak Room of Cinnamon Grand Colombo, …
Economy & Markets
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IMF staff concludes visit to Sri Lanka; discussions to continue for a staff-level agreement on EFF
An International Monetary Fund (IMF) mission team led by Peter Breuer and Masahiro Nozaki visited Colombo from June 20 to 30, 2022 to discuss IMF support for …
Sri Lanka economy contracted by 1.6-pct in 1Q 2022
The year-on-year GDP growth rate for the first quarter of 2022 has been estimated as negative 1.6 percent which indicated a considerable contraction of the …
Fuel to be supplied only for essential services from midnight: Cabinet
The remaining fuel stocks will be distributed only for essential services with effect from midnight today (June 27) until the 10th of July, Cabinet spokesman …
Sri Lanka exports recorded 5-billion-dollar mark in five months
Earnings from the merchandise exports increased by 9.9 % y-o-y to US$ 980.2 Mn in May 2022 as per the data released by the Sri Lanka Customs. This was mainly …
New insights into SL’s Cauvery and Mannar Basins from FTG and aeromagnetic data
Bell Geospace, the world leaders in gravity gradiometry, has conducted the first aerial mapping of petroleum resources in Sri Lanka in Q4 of 2021, and will be …
Hemas, Dilmah, Brandix & Daraz come together to provide emergency relief under UNDP-led initiative
The health and food sectors are two of the most heavily affected by the ongoing economic crisis in Sri Lanka, with severe medical and food supply shortages, …
Central Bank to initiate actions against persons who hold over USD 10,000 in possession
With the intention of attracting foreign currency in the hands of the public into the formal banking system, the Minister of Finance has issued an Order under …
CA Sri Lanka launches Non-Financial Reporting Guideline to promote reporting practices among companies
In its standing as the sole authority to promulgate accounting and auditing standards in the country, the Institute of Chartered Accountants of Sri Lanka (CA …
Finance Minister of India assures her fullest support to economic recovery process in Sri Lanka
Finance and Corporate Affairs Minister of India Nirmala Sitharaman assured the High Commissioner of Sri Lanka to India, Milinda Moragoda of her fullest …
Central Bank deploys new system to monitor foreign currency transactions
Recognising the need to implement a comprehensive cross-border transactions and domestic foreign currency transactions monitoring system as a key national …
NCPI based headline inflation increased to 45.3-pct in May
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index has increased to 45.3% in May 2022 from 33.8% in April …
JKH to raise equivalent of USD 75Mn via unlisted convertible debentures to Fairfax Financial
John Keells Holdings PLC (JKH) announced it will raise the equivalent of USD 75 million of foreign direct investment by way of a private placement of Sri …
Zero chance for illegal migrants, says Australia’s new Minister for Home Affairs
Minister of Foreign Affairs of Sri Lanka Prof. G. L. Peiris held a meeting with Australia’s Minister for Home Affairs, Clare O’Neil MP during her …
Among IT decision-makers, 85-pct see urgent shift in focus to consumers’ digital experiences: Report
In a survey of 500 IT decision-makers, 85% agree that there is an urgent shift toward focusing on consumers’ digital experiences. Moreover, 73% of …
Opinion: Demand Destruction for Oil can solve Sri Lanka’s economic crisis
June 13, 2022 (LBO) - Sri Lanka is in the eye of its worst ever economic storm. It appears that with regard to every aspect of the economy, things are coming …
We are surprised by reports that you are preparing to nominate another person as CBSL Governor: CBEOU
The Central Bank Executive Officers' Union (CBEOU) representing all staff grades up to the Deputy Governor position of the Central Bank, says that they are …
3AxisLabs another welcome entrant to Jaffna’s IT ecosystem
By Jekhan Aruliah The Yarl Geek Challenge (YGC), run by the Yarl IT Hub, has been a launch pad for hundreds of IT careers, and for a number of successful …
Tax reforms at a glance: To be introduced in the immediate & near term
Cabinet nod has been received to instruct the legal draftsmen to prepare necessary bills to amend the following Acts with a view to increasing government …
CCPI based headline inflation increased to 39-pct in May; food inflation at 57-pct: CBSL
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index increased to 39.1% in May 2022 from 29.8% in April 2022 …