As part of their continuing efforts to strengthen market standards and investor confidence, officials of the Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) recently met with Compliance Officers of all categories of Market Intermediaries. The meeting served as a valuable opportunity to engage in a constructive dialogue on…
Multi-stakeholder committee’s recommendations aim to safeguard Sri Lanka’s vulnerable children. With the aim of ensuring the protection and well-being of children in Sri Lanka, the Committee appointed to Study and Make Recommendations for the Protection of Children has handed over their comprehensive report to President Ranil Wickremesinghe. The handover took place at the Presidential Secretariat…
The first monetary policy review by the Monetary Policy Board under the Central Bank of Sri Lanka Act, No. 16 of 2023 (CBA) was held on 04 October 2023. In this review, the Board decided to reduce the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank by…
Minister of Trade, Commerce and Food Security Nalin Fernando expressed optimism about the country’s economic prospects during a press conference held at the Presidential Media Center today (04). He stated that with the government’s efforts to reduce economic contraction, there is a possibility of achieving a robust economic growth rate of 1.8% to 1.9% in…
Reuters – Crisis-hit Sri Lanka will focus on improving tax collection as it streamlines the structure of the tax system, the treasury secretary said on Wednesday, with new legislation planned to improve public finances. The steps follow comments by the International Monetary Fund, which blamed an expected shortfall in government revenue generation for its failure…
State Minister of Investment Promotion Dilum Amunugama’s recent visit to China has resulted in the due attention of the major players in the Chinese business fraternity. The CZK Harui Economy and Trade Development (Beijing) Company Limited had an initial discussion during the ministers’ visit to China and within a few weeks the representatives of the…
US President Ronald Regan was considered the most powerful leader by many with the fall of the Soviet Union in the late 1980s. By 2023 a government shutdown in the USA was being discussed & some analysts were talking of a 90% chance. The Congress had to draw a line on midnight 30th September to…
Says Sri Lanka does not require international investigations. In a recent interview with Deutsche Welle, President Ranil Wickremesinghe addressed several critical topics, including the Berlin dialogues, economic challenges and allegations of human rights concerns. President Wickremesinghe acknowledged the progress made during the Berlin dialogues, emphasizing improved understanding and cooperation between Sri Lanka and European countries,…
Prasanna Ranaweera, the Minister of State for Small and Medium Enterprise Development, expressed the government’s objective to increase the percentage of entrepreneurs, which currently stands at only 2% of the country’s population, to 10% within the next five years. Additionally, he emphasized that young individuals who have completed their general education and are currently working…
Reuters – Sri Lanka’s central bank is expected to resume interest rate cuts on Thursday (05) as it attempts to bolster a recovery from its worst economic crisis in decades, capitalising on low inflation to complete the first review of a $2.9 billion IMF bailout package. The median estimate in a Reuters poll of 17…
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