The overall rate of inflation, as measured by the Colombo Consumer Price Index (CCPI) on Year-on-Year basis, has increased to -2.6% in March 2025, compared to -4.2% in February 2025, according to the latest data released by the Department of Census and Statistics. Year-on-Year food inflation has increased to 0.6% in March 2025, compared to…
Fitch Ratings has assigned Sri Lanka-based State Mortgage & Investment Bank (SMIB) a first-time National Long-Term Rating of ‘BB(lka)’. The Outlook is Stable. Key Rating Drivers Intrinsic Profile Drives Rating: SMIB’s rating reflects its standalone financial strength and factors in its weaker-than- peers funding profile that has led to balance sheet mismatches. Risk controls are showing…
In a key initiative to strengthen trade and technological collaboration, the Sri Lanka Export Development Board (EDB) and Business Sweden, together with Team Sweden comprising the Embassy of Sweden, Consul General of Sweden in Sri Lanka and the Sri Lanka Food Processors Association hosted a virtual meeting on March 11, 2025. The session focused on…
Business Sentiment: Post-Budget Dip in Confide The IMF recently approved the highly anticipated disbursement of US$ 334 million – the fourth tranche under its Extended Fund Facility (EFF). Following the review, its Managing Director Kristalina Georgieva emphasised the importance of maintaining the reform agenda to decisively guide Sri Lanka towards sustainable and inclusive growth. In…
Bloomberg – Debt-for-nature swaps could be Sri Lanka’s first opportunity to raise funds after restructuring its debt, the country’s central bank Governor P. Nandalal Weerasinghe said. “That is a better form of medium-to-long term financing for the time being without going for full commercial external debt,” he said during a panel discussion moderated by Bloomberg’s Jeanette Rodrigues in Colombo…
BYD, a global leader in New Energy Vehicles (NEVs), has commenced its first customer vehicle deliveries in Sri Lanka following the lifting of import restrictions. The first batch of vehicles, imported and distributed by its authorized distributor, John Keells CG Auto (JKCG Auto), was officially handed over to customers at a special event, marking the…
In a significant step towards sustainable plastic waste management, Island Climate Initiative (ICI) officially launched GP Certified, Sri Lanka’s first certification mechanism for high-quality recycled plastics. The launch event, held in Colombo, brought together key stakeholders—including FMCG brands, recyclers, policymakers, and environmental advocates—to introduce the future of sustainable packaging in Sri Lanka. Sri Lanka generates…
Sri Lanka’s investment environment needs diversification to provide better opportunities for both the public and corporations, Governor of the Central Bank of Sri Lanka Dr. Nandalal Weerasinghe stated while addressing the ‘Invest Sri Lanka’ forum held in Colombo today (27). Highlighting the limited investment options available to the general public within the country, he emphasized…
The Sri Lankan Export Development Board (EDB) is proud to host the newly launched SheTrades Sri Lanka Hub, marking a milestone in the country’s ongoing efforts to support women entrepreneurs. As the host institution, EDB, in collaboration with ITC SheTrades, uses the SheTrades Outlook tool to monitor the policy environment and assess its support for…
Janashakthi Life, one of the fastest growing Life insurers in Sri Lanka has recorded a massive LKR 5.7 Billion Profit Before Tax for the period under review. This is the second consecutive year the company has surpassed the LKR 5 billion mark in PBT. Reflecting on the company’s achievements, Ravi Liyanage, Director / CEO of…
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