Sri Lanka’s Business Chambers urges the President to initiate immediate legislative action to repeal the 20th amendment
Concerned by the current political deadlock coupled with growing public unrest, Sri Lanka’s Joint Business Chambers led by the Ceylon Chamber of Commerce (CCC) urged President Gotabaya Rajapakse to immediately…
Indian Companies Scramble To Set Up Renewable Energy Projects In Sri Lanka
Indian companies have bagged several renewable energy projects in economic-crisis hit Sri Lanka. The Indian government has offered a line of credit to Sri Lanka to help the island nation…
Sri Lanka yet to decide on hosting Asia Cup 2022
Sri Lanka, with the hosting rights of Asia Cup 2022 have been given time till July 27 to confirm whether they would be able to the host the tournament amid…
World Bank deeply concerned about the uncertain economic outlook in Sri Lanka and its impact on people
Sri Lanka’s economic outlook is highly uncertain due to fiscal and external imbalances. Urgent policy measures are needed to address the high levels of debt and debt service, reduce the…
Fitch Ratings Downgrades Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating to ‘C’
Fitch Ratings has downgraded Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘C’ from ‘CC’ following the Government’s decision to suspend debt servicing of several categories of its external…
Sri Lanka unilaterally suspends external debt payments, says needs money for essentials
(Reuters) – Sri Lanka’s central bank said on Tuesday it had become “challenging and impossible” to repay external debt, as it tries to use its dwindling foreign exchange reserves to…
Ceylon Chamber Hosts Investment Promotion Meeting with Bangladesh’s EPZ Authority
With the nation of Bangladesh poised to become an economic powerhouse in the South Asian region,the Ceylon Chamber of Commerce hosted a meeting with a high-level delegation representing theBangladesh Export…
No Stock Market Operations this week
The Colombo Stock Exchange (CSE) will not be operating on 11th and 12th April with the Government having declared special public holidays. It would mean that the stock market will…
Nuwan Gamage Elected as a 44th President of SLIM
The Sri Lanka Institute of Marketing (SLIM) elected Mr. Nuwan Gamage as it’s 44th President in its 52nd year along with New Council of Management and Executive Committee for the…
Sri Lanka doubles interest rates to check inflation; stabilize the economy
(Reuters) – Sri Lanka’s central bank on Friday doubled its key interest rates, an unprecedented 700 basis points each, to cushion the rise in inflation caused by a crippling shortage…