Reuters – Oil prices jumped more than 3% on Thursday after Iran’s Revolutionary Guards said they targeted a U.S. airbase in response to a U.S. attack near Bandar Abbas airport. Brent crude futures rose $3.51, or 3.72%, to $97.8 a barrel by 0344 GMT, while the more active August contract gained $3.35 or 3.63%, to $95.6. The…
Sri Lanka’s ICT and BPM sector has achieved a major national milestone, with digital services exports surpassing tea export earnings during the first four months of 2026, reflecting the country’s accelerating transition toward a knowledge-driven digital economy. According to recent export performance data published by the Sri Lanka Export Development Board (EDB), ICT/BPM export earnings…
Enables channeling of global digital earnings directly into bank accounts via ComBank Digital The Commercial Bank of Ceylon, reaffirming its leadership in introducing the latest global financial technologies to Sri Lanka, has announced the availability of PayPal-linked withdrawal functionality for eligible customers to seamlessly channel their global digital earnings directly into their Commercial Bank accounts…
The IMF Executive Board completed the combined Fifth and Sixth Reviews of the Extended Fund Facility for Sri Lanka, providing the country with immediate access to SDR508 million (about US$695 million) to support economic policies and reforms. Performance under the program was generally strong. The prior actions on restoring fuel and electricity cost-recovery pricing were…
The South Asia Sustainability & Security Research Institute (SASSRI) successfully concluded its high-level Strategic Panel Discussion titled “Drones, Deterrence, and Defence: Rethinking Security Strategies for Small States with Focus on Sri Lanka” at the Royal Colombo Golf Club on 7 May 2026, bringing together an influential gathering of policymakers, defence officials, academics, legal experts, cybersecurity…
Against the backdrop of growing global economic uncertainty, rising debt vulnerabilities, and increasing climate-related risks, senior policymakers, public debt managers, economists, and representatives from leading international financial institutions gathered in Colombo yesterday for the 2026 Asian Regional Public Debt Management Forum, held under the theme “Climate Resilience and Debt Sustainability in Asia.” The high-level regional…
Reuters – Samsung Electronics plans to invest 39 trillion dong ($1.5 billion) in Vietnam to build a semiconductor testing plant, its proposal document showed, an expansion that will help ease a global shortage of memory chips driven by surging AI demand. The new factory, for which construction has already begun in an industrial park 60 kilometres…
Yields on Sri Lankan Treasury bills rose sharply across all maturities at the primary auction held Tuesday (26). This upward movement follows the Central Bank of Sri Lanka’s (CBSL) recent decision to increase the Overnight Policy Rate (OPR), a move aimed at tightening monetary conditions as detailed in the Monetary Policy Review No. 3 of…
The Sri Lankan unit trust industry held steady during April 2026, amidst ongoing global geopolitical and economic uncertainties, and the resulting market volatility seen in the past few months. The industry reported assets under management (AUM) of Rs. 589 Bn, which is flat compared to March and down just 2.3% year-over-year. These assets are held…
People’s Bank posted a standalone PBT of LKR 16.6 billion for Q1 2026, reflecting resilience amid global uncertainty. Asset quality improved, with Stage 3 ratio down to 7.2% and Stage 3 provision coverage up to 50.0%. Capital and liquidity strengthened via the issuance of an LKR 25.0 billion Tier 2 debenture, lifting CAR to 17.9%…
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