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Sri Lanka Central Bank to implement single policy rate mechanism
Sri Lanka’s Central Bank of Sri Lanka (CBSL) said it seeks to consolidate monetary policy operations under a single benchmark rate. Governor of the CBSL Nandalal Weerasinghe made this remark while announcing the 2024 annual policy statement in Colombo, Wednesday. The decision was made following the recognition of the limitations of its current system, which […]
SL economy to record positive growth rates and gain further momentum over medium term: CB Governor
Sri Lanka has entered a path of recovery following the worst economic crisis in its postindependence history while the policy measures that were taken by the Government and the Central Bank during 2022 and 2023 helped restore macroeconomic stability, the Governor of the Central Bank said. Governor P. Nandalal Weerasinghe announcing the Central Bank’s annual […]
Uncertain Economic Outlook for Sri Lanka Amid Debt Restructuring & Structural Reforms: World Bank
The economic future of Sri Lanka remains uncertain, as the country navigates debt restructuring negotiations with private creditors and implements structural reforms to boost growth potential, according to the World Bank’s latest Global Economic Prospects report. The report highlighted that the economy contracted by an estimated 3.8 percent in 2023, and credit to the private […]
Cargills Bank debuts trading on the Colombo Stock Exchange
The shares of Cargills Bank Limited (CODE: CBNK-N-0000) commenced trading on the Colombo Stock Exchange (CSE) on 09th January 2024. The shares have been listed on the Main Board of the CSE under the ‘Diversified Banks’ sector. The occasion was marked with a special Bell Ringing Ceremony. The company’s Initial Public Offering (IPO) for 62.5 […]
President Commemorates Sir Arunachalam on 100th Death Anniversary
January 10, 2024 (LBO) – President Ranil Wickremesinghe was the chief guest at the commemoration event of the 100th death anniversary of Sir Ponnambalam Arunachalam. At the event the President heralded Sir Arunachalam as a leader who championed the concept of a Ceylonese identity as opposed to today’s political rhetoric focused on division. Known as […]
”’ National Rating on watch positive
Fitch Ratings has maintained Sri Lanka Telecom PLC’s (SLT) ‘A(lka)’ National Long-Term Rating on Rating Watch Positive (RWP). The RWP reflects the potential rating upside from the removal of linkages with SLT’s parent, the Sri Lankan government (Long-Term Local-Currency Issuer Default Rating (IDR): CCC-), as the government is in the process of selling its 50.2% […]
FitsAir acquires approval for inflight catering
FitsAir, Sri Lanka’s leading low-cost airline, is proud to announce a significant enhancement to its service offerings by obtaining approval for inflight self-catering. This strategic move aligns with the airline’s vision to offer low-cost international travel. FitsAir’s Inflight Catering Services prioritise affordability and variety, providing passengers with wallet-friendly meal choices that won’t strain their budgets. […]
Japanese Finance Minister to visit Sri Lanka this week
Minister of Finance of Japan, Suzuki Shunichi will undertake an official visit to Sri Lanka from 11-12 January 2024. During the visit, Japanese Finance Minister is scheduled to have official discussions with President Ranil Wickremesinghe and Minister of Foreign Affairs Ali Sabry. Minister of Finance of Japan SUZUKI Shunichi and the delegation will visit Parliament, Jayawardene Centre, […]
The Princess Royal to visit Sri Lanka from 10 – 13 January
The Princess Royal and Vice Admiral Sir Timothy Laurence will arrive in Sri Lanka on Wednesday 10 January for a three-day visit. The visit comes as the two countries mark 75 years of diplomatic relations. The UK and Sri Lanka share many strong personal ties and common interests making the two countries natural partners through […]
Union Bank appoints Dilshan Rodrigo as Deputy CEO
Union Bank announces the appointment of Dilshan Rodrigo as the Deputy Chief Executive Officer with effect from 15 January 2024. Dilshan Rodrigo is a top banking professional with an impressive track record with over two decades of Banking experience. He last served as the Executive Director/Chief Operating Officer at Hatton National Bank (HNB), where he […]