• Editor
• July 6, 2024
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President Ranil Wickremesinghe recently emphasized that as the country builds a new economy, it is crucial to establish a new political system. This system must foster individuals who can take responsibility and speak the truth fearlessly. He made these remarks during the bankers’ forum organized by the National Bankers Association at Galle Face Hotel, Colombo, yesterday (05). The President stated …

• Editor
• July 5, 2024
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The Sri Lanka Export Development Board (EDB) recently hosted a workshop on the Fair Trade Certification Process in Sri Lanka bringing 02 prominent certification entities to a one platform. The workshop aimed to educate Sri Lankan producers and exporters about Fair Trade certification processes and the importance of acquiring such certification. The workshop highlighted Fair Trade standards that encompass both …

• Editor
• July 3, 2024
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Minister of Ports, Shipping, and Aviation Nimal Siripala de Silva affirmed that SriLankan Airlines will undergo restructuring instead of being sold. He emphasized that according to existing regulations, only up to 49% of the airline’s shares can be transferred to another entity, yet no suitable investor has expressed interest thus far. Addressing the press briefing titled “Collective Path to a …

• Editor
• July 2, 2024
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Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100) accelerated to 1.7% in June 2024 from 0.9% in May 2024. This acceleration in the headline inflation is broadly in line with the projections of the Central Bank of Sri Lanka (CBSL). Even with this acceleration, inflation remained well below the inflation target …

• Editor
• July 2, 2024
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State Minister for Finance Shehan Semasinghe, announced that all uncertainties surrounding Sri Lanka’s debt sustainability have been resolved. He noted that while the international community has shown optimism about Sri Lanka’s debt restructuring, some local parties remain sceptical for political reasons. State Minister Semasinghe made these remarks during the press briefing titled “Collective Path to a Stable Country” held at …

• Editor
• June 30, 2024
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Sri Lanka Purchasing Managers’ Index for Construction (PMI – Construction) recorded an index value of 54.5 in May 2024, indicating an improvement in construction activities. Many  construction projects were back on course in May after the extended holidays of the previous month. However, several respondents mentioned that the prevailed adverse weather conditions had dampened the expected improvement. New Orders marginally …

• Editor
• June 29, 2024
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The Central Bank of Sri Lanka (CBSL) wishes to announce the implementation of the Banking (Amendment) Act, No. 24 of 2024, effective from 15.06.2024. These amendments were formulated with a view to further strengthening the legal and regulatory framework applicable for licensed commercial banks and licensed specialised banks (licensed banks) to enhance the resilience of the banking sector of Sri Lanka. …

• Editor
• June 28, 2024
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Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100) accelerated to 1.7% in June 2024 from 0.9% in May 2024. This acceleration in the headline inflation is broadly in line with the projections of the Central Bank of Sri Lanka (CBSL). Even with this acceleration, inflation remained well below the inflation target …

• Editor
• June 28, 2024
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Minister of Foreign Affairs and President’s Counsel Ali Sabri, stated that the successful debt sustainability process with bilateral creditors will provide Sri Lanka with an advantage of approximately US $ 17 billion. The minister also stated that this situation will facilitate successful negotiations regarding international sovereign debts. Minister of Foreign Affairs Ali Sabry revealed this addressing the Media briefing today …

• Editor
• June 27, 2024
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Director General of the Department of Trade and Investment Policy Mr. K.A. Vimalenthirarajah, Controller General of the Department of Import-Export Control Ms. Upulmalee Premathilaka, honored guests and esteemed colleagues, including guests from outside Sri Lanka including Singapore, Philippines, Maldives, and Malaysia. I am so glad to be with you this morning at the first-ever Sri Lanka Strategic Trade Forum.  It …