Marking a significant milestone in the official debt treatment process, the Government of Sri Lanka reached the final agreement on its debt treatment with members of the Official Creditor Committee (OCC) of Sri Lanka’s bilateral creditors on June 26, 2024. As a longstanding development partner of Sri Lanka, the Government of Japan supported the initiation…
Reuters – Sri Lanka’s central bank cut interest rates by 25 basis points on Wednesday in a surprise decision aimed at spurring economic recovery following the country’s worst financial crisis in decades. The decision was made “in the absence of significant inflationary pressure,” said the bank, which expects inflation to remain below its 5% target…
This will pave the way for Maldivian Companies list on CSE’s Multi-Currency Board Facilitates regulatory information exchange, capacity building assistance and mutual collaboration The Securities and Exchange Commission of Sri Lanka (SEC) and the Capital Market Development Authority of Maldives (CMDA) signed a landmark Memorandum of Understanding (MOU) on 21st July 2024 in Malé. The…
The Monetary Policy Board of the Central Bank of Sri Lanka, at its meeting held on 23 July 2024, decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by 25 basis points (bps) to 8.25 per cent and 9.25 per cent, respectively. The Board…
The initial public offering (IPO) of shares of Sri Lanka’s leading specialized manufacturer of integrated cables, Cable Solutions Limited, which opened on the 23rd of July 2024, received broad-based interest from a diverse range of investors. Accordingly, the offer was oversubscribed and was thus closed at 4.30pm the same day. Managed by Asia Securities Advisors…
As per the provisional data released by the Sri Lanka Customs, the merchandise export performance in June 2024 amounted to US$ 1,031.2 million, recorded an increase of 2.58% compared to the month of June 2023. This was mainly due to the increase in earnings from export of Apparel & Textiles, Tea, Rubber based products, Coconut…
Evolution Auto is pleased to announce the launch of its first electric vehicle lineup—a pioneering joint venture among Sensei Capital Partners, Atman Group, and Sino Lanka Private Limited—designed to transform the sustainable transportation landscape in Sri Lanka. Guided by its mission to bring advanced electric mobility solutions to fruition, Evolution Auto is doubtless poised to…
Officials from 10 National Standards Bodies (NSBs) representing ten member countries convened in Colombo today for the 30th plenary meeting of the International Organization for Standardization’s (ISO) Technical Committee on Tea (ISO TC 34/ SC 8). Hosted by the Sri Lanka Standards Institution (SLSI) with support from the European Union-funded BESPA-FOOD project and implemented by…
The census for the second phase of the “Aswesuma” Welfare Benefit Program is scheduled to be completed by July 31. Additionally, for families who missed the opportunity to apply during the first phase, applications were called again in February, resulting in approximately 454,924 new applications. The census work related to these applications has already begun,…
The signing of the Memorandum of Understanding (MoU) for the provision of interest-free loans to agribusiness entrepreneurs and farmers under the first phase of the Agriculture Modernization Program took place Monday (22) at the Presidential Secretariat. The MoUs were signed between the Bank of Ceylon, the Regional Development Bank who are the key contributors to…
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