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Sri Lanka holds rates as crisis-hit economy banks on govt reforms, IMF bailout

The Central Bank of SRI Lanka held policy rates steady on Thursday (Oct 6), saying monetary conditions remain “sufficiently tight” after a massive rate-hike campaign earlier in the year as…

Central Bank Expected to Hold the Key Policy Rates

First Capital Research (FCR) weighed in on a 75 percent probability to maintain the rates while also assigning a lower probability of 25 percent towards a monetary relaxation. “We believe…

Plantation Sector to Get a Special Allowance under WFP and World Bank Funds from October onwards

Minister of Labour and Foreign Employment Manusha Nanayakkara last week announced that all plantation workers would be given a special allowance under the World Food Program (WFP) and World Bank…

Ceylon Chamber’s National SME Forum 2022 highlights Resilience Measures for SMEs

Digital transformation and innovation that sees opportunity in turbulence in order to attainresilience and growth, were among key themes that were explored at the National SME Forum2022 organised recently by…

Political stability is critical for Sri Lanka to resolve the economic crisis – U.S Ambassador

The United States Ambassador to Sri Lanka, Julie Chung last Friday stressed that the political stability is critical to undertake lasting and decisive structural reforms in addressing the root causes…

War in Ukraine raises global shipping costs, stifles trade – UNCTAD

The UN Conference on Trade and Development (UNCTAD) says the war in the Ukraine is stifling trade and logistics of the country and the Black Sea region, increasing global vessel…

A new Cabinet Sub Committee proposed to address the country’s food crisis

The Committee on Public Accounts (COPA) recommended that all Ministries should unite and set up a Cabinet Sub-Committee on Food Security to address the food crisis in the country. The…

Liquor demand down by 30% in Crisis-hit Sri Lanka

 Sri Lanka Excise Department revealed that t the demand for the liquor has decreased by about 30% due to the recent increase in the price of liquor and the decrease…

United States to Provide an Additional $5.75M to Crisis-hit Sri Lanka

The U.S. government announced a third tranche of new funding today to address the immediate needs of people hardest hit by the economic crisis in Sri Lanka.  This humanitarian assistance,…

WFP ramps up emergency support in Sri Lanka, with a quarter of the population requiring food aid

The World Food Programme (WFP) on Thursday began distributing food vouchers to pregnant women in underserved districts of the Sri Lankan capital, Colombo, marking the start of the UN agency’s…