Sri Lanka exports fall in December as global recession weighs
Sri Lanka’s merchandise exports earnings fell 9.7 percent in December year-on-year as the island nation…
CDS signs up with Lanka IOC to act as Registrar
The Central Depository Systems (CDS), a fully owned subsidiary of the Colombo Stock Exchange (CSE), recently signed a service agreement with Lanka IOC PLC as the registrar for Lanka IOC PLC, with effect from 01st of January 2023. Lanka IOC PLC, with a corporate history spanning 20 years, is the only private sector auto fuel…
DFCC partners with CDB to promote convenient access to inward remittances
DFCC Bank PLC, one of Sri Lanka’s most trusted banks and a leader in inward remittances, has partnered with Citizens Development Business Finance PLC (CDB) one of the top four largest non-banking financial institutions (NBFIs) in Sri Lanka, to promote convenient access to inward remittances. CDB is the 10th financial institution to become a partner…
Indian Market Rout Intensifies After Adani Drops $2.5bn Share Sale
The Adani Group’s decision to abandon its $2.5-billion share sale has worsened the Indian conglomerate’s market rout. Over $100 billion has now been wiped off stock values of its seven listed companies over the past week. The group’s flagship, Adani Enterprises, plummeted 25% again on Thursday after the Adani board called off the share offer…
Pakistan’s economy in ‘collapse’ as IMF visits
Pakistan is gripped by a major economic crisis, with the rupee plummeting, inflation soaring and energy in short supply as IMF officials visit to discuss a vital cash injection. Prime Minister Shehbaz Sharif for months held out against the tax rises and subsidy slashing demanded by the International Monetary Fund, fearful of backlash ahead of…
US expresses support for Sri Lanka’s on-going recovery efforts
The US Political Affairs Under-Secretary Victoria Nuland, who is currently on an official visit to Sri Lanka, expressed her Government’s support for the on-going recovery efforts in the country. This was revealed during a meeting with President Ranil Wickremesinghe yesterday. During the discussions President Wickremesinghe extended his appreciation for the support provided by the US…
Central Bank issues Rs.1,000 coin
The Central Bank has issued an uncirculated commemorative coin in the denomination of Rs. 1,000 to mark the 75th Independence Day Celebration in the country. The first coin was officially presented to President Ranil Wickremesinghe by Central Bank Governor Dr. Nandalal Weerasinghe yesterday. This is the 71st commemorative coin that was issued by the Central…
EU to help improve the social security system in Sri Lanka
State Minister of Finance Shehan Semasinghe on Wednesday held a comprehensive discussion with a delegation of the European Union (Sri Lanka and Maldives region) with the aim of identifying areas to upgrade the social security system in Sri Lanka. The State Minister pointed out the need to further streamline the selection of the people who…
Sri Lanka student leader Wasantha Mudalige released from terror case: report
The Colombo Chief Magistrate’s Court has ordered the release of detained Sri Lankan university student leader Wasantha Mudalige from a terror charges case but he will remain in remand custody over a number of other ongoing cases, a media report said. The privately owned NewsFirst reported that the court had ordered the release of Mudalige…
Sri Lanka records over 6,000 dengue cases in first three weeks of January
Sri Lanka recorded over than 6,000 dengue cases in the first three weeks of January 2023 after a spell of heavy monsoon rain though a drop in cases is likely from February, officials said. Health officials identified 6,204 dengue patients by January 22, up from 5,793 recorded in the corresponding period last year. “A rise…
Sri Lanka exports fall in December as global recession weighs
Sri Lanka’s merchandise exports earnings fell 9.7 percent in December year-on-year as the island nation saw a drop in buying from its key export destinations which are facing a looming recession after the Russia-Ukraine war. The earnings from the merchandise exports recorded $1.04 billion in December 2022 compared to the same month in the previous…
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