Sri Lanka Approaches Final Stage of Debt Restructuring Strategy to Revive Economy
Sri Lanka is approaching the final stage of unveiling its debt restructuring strategy, marking a significant milestone in the nation’s efforts to navigate its worst economic crisis in seven decades.…
Global Economy’s “Speed Limit” Set to Fall to Three-Decade Low – World Bank
The global economy’s “speed limit”—the maximum long-term rate at which it can grow without sparking inflation—is set to slump to a three-decade low by 2030. An ambitious policy push is…
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Russia-Ukraine Conflict: Economic Implications for Sri Lanka
By Asanka Wijesinghe The Russian invasion of Ukraine deepens the existing global economic woes – persistent supply chain bottlenecks and associated rising inflation – clouding the prospects of a smooth global economic recovery from…
Sri Lanka’s saving interest rates cross 5 percent
Sri Lanka’s saving interest rates are continuing on an upward trajectory in responding to monetary policy tightening measures taken by the Central Bank of Sri Lanka (CBSL). The Average Weighted…
Outstanding foreign currency borrowings by Sri Lanka’s banks up for the first time in a year
The outstanding foreign currency borrowings of Sri Lanka’s banking sector rose for the first time in a year in the second quarter(2Q2021) in the line with the Central Bank of…
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CSE listed firms posts record earnings for December Quarter
The Earnings of Colombo Stock Exchange (CSE) listed firms rose by 33% percent Year-on-Year (YoY) to Rs 88.6 billion in December quarter maintaining the growth momentum for the second straight…
Justice K. Sripavan appointed as the New Commercial Bank Chairman
The Board of Directors of Commercial Bank green-lighted the appointment of Justice K. Sripavan as the New Chairman of the Bank with effect from 21st of this month, upon the…
ICICI Bank exits Sri Lanka
India-based ICICI bank has shut down its offshore unit in Sri Lanka after securing approval from the country’s Central Bank (CB) last week. “The Monetary Board of the Central Bank…