Development and Economic News

The first phase of the program to plant three million jackfruit trees across the country, under the theme ‘Guwan Hamuda Herali Perali’, was launched today at the Anuradhapura Air Force Base under the patronage of President Ranil Wickremesinghe.

The Sri Lanka government has embarked on an ambitious initiative of commercializing seven State owned Enterprises (SOES) out of 52 entities kick starting restructuring process of these enterprises fulfilling commitment given to the International Monetary Fund (IMF), official sources disclosed

In a far reaching move, the government has established a new academic facility in the Sri Lanka Ports Authority (SLPA) for the upliftment knowledge and discipline of the port workers.

Sri Lanka’s No.01 Bank, Bank of Ceylon clinched prestigious “the Best Banking Service Provider of the year 2023” award for the third consecutive year at the recently concluded “SLIM-Kantar People’s Awards 2023”.

SL Trade deficit narrows significantly in February amid declining importsSri Lanka’s deficit in the merchandise trade account witnessed a significant contraction in February, due to a significant moderation in the import expenditure, arising out of the aggregate demand conditions, Central Bank announced.

The Women Entrepreneurship Development Program organised by the Sri Lanka Export Development Board (EDB) focused on the theme ‘Branding through Packaging’ to support women-led businesses in Sri Lanka.

The Central Bank of Sri Lanka has issued a special announcement regarding the use of cryptocurrencies

Minister of Power and Energy, Kanchana Wijesekera says that the fuel price will be revised from midnight today.

The Government is to enact the Banking (Special Provisions) Act by December this year following the approval of the cabinet of Ministers in June, finance ministry sources confirmed.   

The prime lending rate fell the most or by 204 basis points last week to settle at 21.74 percent, marking the biggest weekly slump in benchmark lending rates for the shorter term facilities for prime and corporate clientele of commercial banks.

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