IMF Staff Team Concludes Visit to Sri Lanka The International Monetary Fund (IMF) staff team had very productive discussions with the Sri Lankan authorities on economic performance and policies underpinning the Fourth Review under the IMF Extended Fund Facility (EFF) arrangement. Global uncertainty remains elevated and is contributing to financial market volatility. The government remains…
Reuters – Gold prices breached the key $3,200/oz level for the first time on Friday, fuelled by a weaker dollar and an escalating trade war that sent investors rushing toward safe-haven assets.Spot gold was up 1.4% at $3,217.78 an ounce as of 0350 GMT. Bullion scaled an all-time peak of $3,219.84 earlier in the session, and…
The Joint Apparel Association Forum (JAAF) extends its appreciation to the Government of Sri Lanka (GoSL) and President Hon. Anura Kumara Dissanayake for their swift and decisive engagement in addressing the recent announcement of US tariffs. JAAF commends the action taken by the GoSL led by President Anura Kumara Dissanayake, whose timely negotiations with the…
Hon. Speaker, (Dr.) Jagath Wickramaratne endorsed the certificate on the Value Added Tax (Amendment) Bill today (11) in Parliament. The Second Reading debate related to the Bill was held on 09.04.2025 and amendments were added to the sad Bill during the Committee Stage. The Value Added Tax (Amendment) Bill was then passed in Parliament following…
Reuters – International debt issued by small emerging economies generally viewed as riskier by investors suffered another sharp drop on Wednesday, raising concerns about the countries’ ability to borrow in future as a growing trade war blasted U.S. markets. U.S. Treasuries, the bedrock of the global financial system and benchmark for emerging market bonds, were…
The Government of Sri Lanka has extended financial assistance amounting to USD 01 Million to provide relief to the people of Myanmar affected by the recent earthquake. The relevant cheque was officially handed over Yesterday (10) at the Presidential Secretariat by the Secretary to the President, Dr. Nandika Sanath Kumanayake, to the Ambassador of Myanmar…
The Colombo Stock Exchange (CSE) posted a strong recovery on Thursday (April 10), echoing a broader rebound in global markets after the United States delayed the implementation of new import tariffs that had earlier shaken investor confidence worldwide. The benchmark All Share Price Index (ASPI) soared by 704.88 points, or 4.7%, to close at 15,580.83—marking…
The Sri Lankan rupee has declined against the US dollar today (10), with the spot exchange rate surpassing the Rs. 300 mark for the first time since September 27, 2024. According to the daily exchange rate data released by the Central Bank of Sri Lanka (CBSL), the buying rate for the US dollar stands at…
Analysis finds cost of ingredients has more than doubled since 2019 The cost of preparing a traditional “kevili” table for the Sinhala and Tamil New Year has increased by 7% in 2025 compared to 2024, and stands more than twice as high as it was in 2019. This was revealed in the annual ‘New Year…
The chairman of the BOI, Mr. Arjuna Hearth, invited all top 50 exporters of the BOI in key industries to open dialogue to seek alternative strategies to mitigate the consequences due to the new US tariff imposed on Sri Lanka. Mr. Duminda Hulnagamuwa, senior advisor to the president, also participated and explained what government initiatives…
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