Sri Lanka’s banking sector non-performing loans (NPLs) reduced to 12.3% at the end of 2024, indicating a gradual easing of credit risk in the sector, the Central Bank of Sri Lanka (CBSL) said. According to the Monetary Policy Report, the overall default risk of the banking sector, as reflected through the stage 3 loans ratio, reduced to 12.3% at end …
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Can you share some of the key management practices that small and medium-scale dairy farmers should adopt to boost milk production? Effective management is the foundation of a successful dairy farm. Small and medium-scale dairy farmers, who contribute to over 85% of national milk production of Sri Lanka, should focus on implementing practical solutions. First, they should regularly consult with …
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Industries and Entrepreneurship Deputy Minister Chathuranga Abeysinghe states that there is no possibility of reducing taxes within this year, as the government is required to collect 15.1% of the gross domestic product (GDP) in taxes in accordance with agreements reached with the International Monetary Fund (IMF). “A reduction in indirect taxes, in particular, will have to be implemented gradually. We …
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Following the unfortunate loss of Aitken Spence PLC Chairperson D. H. S. Jayawardena (Harry Jayawardena), the company has announced the appointment of D. S. T. Jayawardena (Stasshani Jayawardena) as the new Chairperson with immediate effect. Jayawardena brings a wealth of experience and a strong commitment to continuing the legacy of excellence established by her predecessor. Jayawardena has been an integral …
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Sri Lanka’s third Mutual Evaluation on the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework coordinated by the Asia Pacific Group on Money Laundering (APG) is set to begin in the near future. During this upcoming Mutual Evaluation, Sri Lanka is required to demonstrate Technical Compliance with the 40 Recommendations of the Financial Action Task Force (the global …
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Aimed at accelerating Sri Lanka’s digital transformation, three key digital initiatives were officially launched yesterday by President Anura Kumara Dissanayake. These initiatives include the establishment of the ‘GovPay’ Government digital payment platform, the expansion of the President’s Fund services to the Divisional Secretariat level, and the introduction of the eBMD system for obtaining birth, marriage, and death certificates through embassies. …
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MAS Capital (Pvt) Ltd Wins Exporter of the Year Award for 2023/24 The 26th Presidential Export Awards Ceremony, organized by the Sri Lanka Export Development Board (EDB), was held on Friday, February 7, 2025, at the Bandaranaike Memorial International Conference Hall under the patronage of His Excellency Anura Kumara Dissanayake, President of the Democratic Socialist Republic of Sri Lanka. During …
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President Anura Kumar Disanayake invited Sri Lankan exporters to rebuild and thrive on a robust economic foundation. The President emphasized that our country faces the challenge of capturing market share from a position of relative weakness. He pointed out that, to overcome this, external support had to be sought. In this regard, he highlighted that the government is prepared to …
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According to Rattan Lal, Distinguished University Professor of Soil Science at Ohio State University and an Inter-American Institute for Cooperation on Agriculture (IICA) Goodwill Ambassador, farmers are the key to recovering the world’s soils. However, in order for them to carry out this function, players in the food and agriculture systems must financially support their initiatives. During a fireside chat …
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Sri Lanka’s domestic money market liquidity recorded a surplus of Rs. 168.1 billion by the end of December 2024, marking the first positive liquidity balance in two years. The Central Bank attributed this shift primarily to foreign exchange purchases and swap transactions. According to the Market Operations Report, liquidity conditions in the domestic money market have been improving since April …
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