Providing analysis and commentary on key economic indicators such as GDP growth, unemployment rates, inflation, and consumer spending.
The National Chamber of Commerce of Sri Lanka (NCCSL) President, Deepal Nelson, extended congratulations to the newly appointed Government, emphasizing the trust and confidence placed in its leadership to guide the nation toward prosperity. “This milestone signifies the Government’s ability to steer Sri Lanka toward growth and stability. The NCCSL pledges its unwavering support for
Aitken Spence PLC, a leading diversified conglomerate, announced a strong financial performance for the first half of the fiscal year 2025. The company recorded an impressive 10.4% growth in EBITDA, reaching Rs. 8.9 billion for the six months ending 30th September 2024. This growth excludes the impacts of foreign currency exchange gains and losses, reflecting
Sri Lanka’s rupee is expected to remain stable on a ‘very comfortable terrain’ in the coming years, with gross foreign exchange reserves forecast to exceed US $12 billion before capital repayments to creditors begin in 2029, according to the Sri Lanka Banks’ Association (SLBA) Chief and Standard Chartered Sri Lanka CEO Bingumal Thewarathanthri. Despite potential
Sri Lanka’s construction sector is expected to undergo significant changes under the leadership of new President Anura Kumara Dissanayake and the leftist National People’s Power (NPP) government following the November 14 elections. Here are five potential policy shifts that may reshape the industry: This article discusses the potential impact of these policy shifts and how
The latest edition of LMD, a leading business magazine, reveals a significant boost in economic sentiment following Sri Lanka’s recent presidential election. The LMD-PEPPERCUBE Business Confidence Index (BCI) survey indicates a surge in optimism within corporate circles, marking a positive shift under the new executive. According to the survey, October saw a dramatic increase in
Sri Lanka’s pharmaceutical sector is beginning to show signs of recovery, with sales starting to grow after the country’s severe currency crisis in 2022. Hemas Holdings Plc, a prominent group involved in pharmaceuticals and consumer goods, reported that the expansion was driven by increased sales of lower-priced items, particularly diabetic drugs and vitamins. According to
Private sector credit demand showed signs of slowing in September, falling short of the recent high recorded in August, according to data from the Central Bank. In October, credit to the private sector increased by Rs. 89 billion, reflecting an 8.9% year-on-year growth. This was a decrease compared to the Rs. 135 billion growth seen
Sri Lanka’s state-run Ceylon Petroleum Corporation (CPC) has reported a steep decline in profits for the first half of 2024, with net earnings plummeting by 70.2% to 20.7 billion rupees compared to 69.5 billion rupees in the same period last year. According to a Finance Ministry report, the decrease in profits is attributed to a
The Central Bank of Sri Lanka has expressed its readiness to support the government should it decide to ease restrictions on motor vehicle imports. This indication comes in light of Sri Lanka’s stable balance of payments and a current account surplus for the second consecutive year, according to Central Bank Governor Nandalal Weerasinghe in an
Sri Lanka’s consumer price inflation recorded a deflation of 0.8% in the 12 months ending October 2024, with only a 0.3% increase over the past 25 months as the effects of the central bank’s deflationary policy begin to manifest in the balance of payments. The Colombo Consumer Price Index (CPI) declined by 0.5% in October