Economic

Prime Minister Mahinda Rajapaksa met with an Omani investors delegation from Shumookh Investment and Services SAOC which is the investment arm of Madayn – The Public Establishment for Industrial Estates of the Sultanate of Oman, at Temple…

While there may be short-term fluctuations in foreign reserves in the period ahead due to debt servicing of the Government, adequate financing strategies have been lined up to maintain reserves at sufficient levels, through inflows to the…

Sri Lanka’s is evaluating the ‘national balance sheet’ and external macroeconomic conditions central bank Governor W D Lakshman has said cash flows are ‘poised to improve’ in the next few months, saying imports have not been unduly…

Sri Lanka has printed 23 billion rupees outright purchasing Treasury bills into the balance of the central bank after a failed Treasury bill auction last week, while overnight borrowings from a lender of last resort facility was at 45…

Sri Lanka’s ban on ethanol imports had given profits to state run sugar factories which were making losses earlier, President Gotabaya Rajapaksa had said. “Our sugar factories are making a profit today because the importation of ethanol…

Sri Lanka has collected 1.4 billion rupees from a urban elitist ‘sustainable’ tax to discourage telecom towers in 2020, official data showed, as rural kids climb trees and walked on roofs to get signals to participate in online classes amid…

Sri Lanka’s nation-wide inflation measured by the National Consumer Price Index hit 6.1 percent in May 2021, the highest since September 2020, when in it 6.4 percent, data from the state statistics office showed. The index grew 1.0 percent…

One step in the in the allocation of International Monetary Fund reserves or special drawing rights (SDR) to its members was passed this week with its Executive Board discussing a formal proposal by Managing Director Kristalina Georgieva on…

Sri Lanka is in the biggest economic crisis after independence from British rule and there was hardly any tax money left for other expenses after paying state workers, Trade Minister Bandula Gunewardene said. “In 2020 the revenue of the…

Federation of Chambers of Commerce and Industry Sri Lanka, an umbrella grouping has written to President Gotabaya Rajapaksa, seeking credit relief and also a re-think of the chemical fertilizer ban. The full statement is reproduced below:…