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SL Rupee depreciates against USD
The Sri Lankan Rupee (LKR) has depreciated against the US Dollar (USD) today compared to last week, according to the Central Bank of Sri Lanka. Accordingly, today’s buying rate of USD is Rs 290.06 while the selling rate is Rs. 303.73. Last Friday’s buying rate of USD was Rs. 288.08 while the selling rate was […]
Sri Lanka PM Dinesh Gunawardena concludes successful visit to Thailand
Prime Minister Dinesh Gunawardena of Sri Lanka concluded a three day successful official visit to the Kingdom of Thailand from 31 May – 02 June 2023, at the invitation of the Rector of Mahachulalongkornrajavidyalaya University, Secretary General of International Council for the Day of Vesak (ICDV) and Executive Secretary of International Association of Buddhist Universities, […]
Eran submits VAT amendment bill to restore Parliamentary powers on public finance
Opposition MP Eran Wickramaratne submitted a private members Bill to amend the Value Added Tax (VAT) Act, No 14 of 2002 to transfer the powers vested in the Minister of Finance to Parliament, Friday. The new bill proposes that any order made by the Minister of Finance shall come into force only upon the approval […]
‘s Leasing & Finance announces proposed acquisition of 33-pct stake in First Capital Holdings
People’s Leasing & Finance PLC (PLC) has announced the proposed acquisition of a 33% stake in First Capital Holdings PLC(FCH), signaling the beginning of a new chapter of business growth through horizontal integration and diversification as a powerhouse of growth in the financial sector. With the proposed acquisition which is subject to the approval of […]
Sri Lanka signs agreement with RM Parks Inc to ensure uninterrupted fuel supply
In a bid to address the foreign exchange crisis in Sri Lanka and ensure a steady supply of fuel, the Ministry of Power and Energy has taken decisive action. Accordingly, an agreement was signed today at the Presidential Secretariat, between the Government of Sri Lanka and RM Parks Inc., a prominent international company operating in […]
ADB Provides Sri Lanka Access to Concessional Financing to Facilitate Sustained & Inclusive Recovery
The Asian Development Bank (ADB) has approved the eligibility of Sri Lanka to access concessional financing. The availability of concessional assistance, offered at low interest rates, broadens Sri Lanka’s options to bridge its urgent development financing needs to restore economic stability and deliver essential services, particularly to the poor and vulnerable. Eligibility for concessional resources among […]
”; Outlook negative
Fitch Ratings has upgraded Sri Lanka-based Kotagala Plantations PLC’s National Long-Term Rating to ‘B+(lka)’, from ‘RD(lka)’. The Outlook is Negative. Fitch has simultaneously upgraded the National Long-Term Rating of Kotagala’s outstanding senior unsecured debentures to ‘B+(lka)’, from ‘C(lka)’. The upgrade reflects the completion of Kotagala’s debt restructuring process in May 2023. The Negative Outlook considers […]
Harsha De Silva appointed new Chairman of the Committee on Public Finance
As per the President’s recommendation, Opposition Parliamentarian Dr. Harsha De Silva has been appointed as the new Chairman of the Committee on Public Finance. “Standing orders should be followed when appointing chairmen of committees and advisory bodies. According to the existing standards, the chairmanship of the Committee on Public Finance Committee should be offered to […]
Paradigm shift on government policy to extend moratorium of SME sector imperative: Eran
As the micro, Small, and medium scale Enterprises (mSmE) sector has been among the most affected sectors in the economy during the recent and ongoing economic crises, the government should take a policy decision to facilitate the continuation of the moratorium given to them in the past said Eran Wickramaratne MP speaking on the debate […]
Diving Deep into the Blue- A case for a Marine Spatial Plan for Sustainable Blue Economy in Sri Lanka
Co-authored by Azusa Kubota, Resident Representative and Dr. Vagisha Gunasekera, Country Economist, UNDP in Sri Lanka What is the blue economy and why should we invest in it? Oceans, seas and coastal areas form an integral and essential component of the Earth’s ecosystem. They are vital to sustaining the livelihoods and food security of over […]