Adda247 – Mundra Port has emerged as India’s largest automobile export hub, setting a national record by shipping 6,008 cars in a single vessel. Operated by Adani Ports and Special Economic Zone, this milestone highlights India’s growing automobile export strength and improved logistics efficiency. Mundra Port has emerged as the India’s largest automobile export hub. As…
The 2029 Annual Meetings of the World Bank Group and International Monetary Fund will take place in Abu Dhabi, United Arab Emirates, in October 2029, as decided in a vote by the Boards of Governors of the two institutions. The last time the Annual Meetings were held in the UAE was in 2003, when they…
National Development Bank PLC – Subsequent Update on Internal Fraud The Central Bank of Sri Lanka (CBSL) wishes to inform the public that it has been closely monitoring developments relating to National Development Bank PLC (NDB) following the recent disclosure of an internal fraud. Based on assessments carried out thus far, NDB continues to operate…
LankaPay, the Sri Lanka Tourism Development Authority (SLTDA) and Alipay+ have entered into a strategic collaboration to enhance Sri Lanka’s tourism appeal and drive international visitor arrivals, particularly from Asia and the wider Asia-Pacific (APAC) region. The collaboration leverages the strength of the global ecosystem of Alipay+, Ant International’s unified wallet gateway, enabled locally through…
The Planters’ Association of Ceylon (PA), the apex body of Sri Lanka’s plantation industry, expressed growing concern over rising prices and limited availability of fertilizer amid the escalation of the crisis in the Middle East. With the closure of the Strait of Hormuz, shipping traffic through the region is reported to have dropped by 90%….
Fitch Ratings has downgraded National Development Bank PLC’s (NDB) National Long-Term Rating to ‘A-(lka)’ from ‘A(lka)’. The Outlook is Negative. Fitch has also downgraded the rating assigned to NDB’s Basel III-compliant subordinated debentures to ‘BBB(lka)’ from ‘BBB+(lka)’. Key Rating Drivers Fraud Elevates Credit Profile Risks: The downgrade reflects NDB’s weakened credit profile relative to that…
Sri Lanka could face renewed food inflation pressures as global fertilizer prices surge sharply amid the ongoing Middle East conflict, a senior economist from the Asian Development Bank (ADB) warned today (10). Addressing the launch of the Asian Development Outlook – April 2026 in Colombo, Ms. Liliya Aleksanyan highlighted that non-energy commodity prices, particularly fertilizers…
The cost of a traditional kevili table for the Sinhala and Tamil New Year has risen by 7%in 2026 compared to 2025. A kevili table, a customary feature during New Year celebrations in Sri Lanka, includes an assortment of traditional sweetmeats symbolising prosperity and happiness. In 2026, prices increased for six of the eight items included in the kevili table. The sharpest rise was recorded in aluwa which increased by 25.8% driven by a 43.6% increase in…
The Committee on Public Finance (CoPF) met on 07th April 2026 under the chairmanship of Hon Member of Parliament Dr. Harsha de Silva. The Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe, along with members of the Governing Board, the Monetary Policy Board, and senior officials, attended the meeting as part…
Sri Lanka’s economic growth is expected to moderate to 4.0% in 2026 and climb to 4.2% in 2027, following two consecutive years of strong 5.0% growth. This forecast is based on an early stabilization scenario for the Middle East conflict, according to the Asian Development Outlook (ADO) April 2026, Asian Development Bank’s (ADB) flagship economic publication….
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