In line with the Central Bank’s near term projections, headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100) remained in the negative territory for the fourth consecutive month, recording a deflation of 1.7% in December 2024 compared to the deflation of 2.1% in November 2024.
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The Central Depository Systems (CDS), a subsidiary of the Colombo Stock Exchange, has launched a dedicated hotline, effective from the first week of January 2025, to provide the stakeholders, including the investors and corporate clients with direct access to the CDS for improved query resolution and support. The hotline, which will operate from 8:30 a.m. to 5:00 p.m., Monday to …
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Sri Lanka’s trade deficit widened to US $ 502 million in November 2024, compared to US $ 390 million recorded in November 2023, due to an increase in import expenditure and a marginal decline in export earnings. The cumulative deficit in the trade account for the period January to November 2024 widened to US $ 5.24 billion, from US $ …
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– President Instructs the Officials President Anura Kumara Disanayake has instructed officials to promptly implement the necessary plans to position Sri Lanka as an attractive destination for tourists.He further emphasized that the successful implementation of the “Clean Sri Lanka” initiative would strengthen efforts to promote the tourism industry.The President made these remarks during a meeting held at the Presidential Secretariat …
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The Consumer Affairs Authority has announced new maximum retail prices for specific types of canned fish, effective today. This directive, issued under Section 20(5) of the Act, prohibits local manufacturers, packers, distributors and traders from selling or displaying canned fish at prices higher than the stipulated rates. The types of canned fish and their maximum retail prices (MRP) are as …
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The Ministry of Digital Economy has unveiled a specialized program aimed at boosting digital payment adoption. Deputy Minister Eranga Weeraratne informed the Daily Mirror that approximately 1% to 1.5% of the nation’s annual gross domestic product (GDP) is expended on transactions involving physical currency. He emphasized that cash-based payments can contribute to greater risks of fraud and corruption, as well as inefficiencies …
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The Sri Lanka Export Development Board (EDB), in collaboration with the Sri Lanka Automotive Component Manufacturers Association (SLACMA) and Technobiz Lanka, successfully conducted a two-day workshop on Dry Rubber Compounding Technology and Plant Management. The event held at the EDB headquarters, aimed to enhance the skills and knowledge of technical professionals in the rubber manufacturing industry, including those serving the …
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A press briefing on the economic stabilization process and the proposed relief packages for the public was held today (26) at the Presidential Media Center (PMC). Minister of Labor and Deputy Minister of Economic Development, Dr. Anil Jayantha Fernando, along with Deputy Minister of Finance and Planning, Dr. Harshana Suriyapperuma, attended in the briefing. The media statement released during the …
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Total exports for November 2024, including both merchandise and services, were recorded at US$ 1,269.33 million, reflecting a marginal increase of 0.04% compared to the same period in 2023. As per the provisional data released by the Sri Lanka Customs, the merchandise export performance in November 2024 amounted to US$ 943.1 million, reflecting a 5.6% decline compared to November 2023. …
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Dec 23 (Reuters) – Credit ratings agency Moody’s on Monday raised Sri Lanka’s long-term foreign currency issuer rating to ‘Caa1’ from ‘Ca’ with a stable outlook, after the country’s creditors approved a $12.55 billion debt overhaul last week. Sri Lanka’s credit profile reflects the reduction in external vulnerability and government liquidity risk, and prospects for fiscal and debt sustainability, Moody’s …
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