Sri Lankan rupee appreciates by nearly 20% aginst USD
As of last As per the Central Bank data, the buying rate of a US dollar was Rs.295.62 while the selling rate was Rs.305.82 according to the Central Bank. In addition,…
Sri Lanka’s macroeconomic situation showing tentative signs of improvement – IMF
An International Monetary Fund (IMF) mission led by Messrs. Peter Breuer and Masahiro Nozaki conducted a staff visit to Colombo from May 11 to 23, 2023 to discuss recent economic…
Wan Hai adds Colombo call as Sri Lanka repairs unrest damage
Wan Hai Lines has added a call at Colombo, Sri Lanka, to its Asia-US East Coast service. On 16 May, the newly built 13,000 teu Wan Hai A10 docked at…
Bangladesh-Sri Lanka Trade Ties: Issues and Prospects
By Muhammad Estiak Hussain Bangladesh and Sri Lanka are two friendly neighbors from South Asia. Although the formal diplomatic relations were established in 1972, the relationship goes beyond that dating…
Market struggles as economic fear persists on DDR
Bourse extended dull sentiment, down marginally as investors continued to remain on the sidelines over rising concerns over Domestic Debt Restructuring (DDR) and waiting for a clear direction on the…
One-Third of the families receiving Samurdhi benefits not entitled to Samurdhi benefits – COPA
The Committee on Public Accounts (COPA) disclosed that almost 33% of the families receiving the Samurdhi benefit are families who should not be entitled to the Samurdhi benefit. According to…
Leading luxury Tour Operator Kuoni pledges backing for Sri Lanka
Leading luxury Tour Operator Kuoni has pledged to drive bookings to Sri Lanka by holding its first overseas sales managers’ conference since pre-pandemic 2019 in the country. Sri Lanka has long…
Sri Lanka seeks $17 billion debt reduction by restructuring
(AP) — Sri Lanka’s president urged lawmakers Wednesday to approve a four-year International Monetary Fund program to reduce the country’s debt by $17 billion through restructuring. Parliament began a three-day…
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Corporate Earnings See First Downturn Since 2020 Amidst Economic Crisis
December (2022) quarter earnings declined by 43.9%YoY to Rs.96.4 billion for 281 listed companies on Colombo Stock Exchange (CSE) owing to sluggish performance primarily in the Capital Goods (-82.6%YoY), Transportation…
USAID Supports Power Up Trial of E-battery Swapping Stations in Colombo
The United States Agency for International Development (USAID) Sri Lanka Energy Program and Sling Mobility (Pvt.) Ltd. signed a grant agreement on April 18 to develop and operate two battery…