Providing analysis and commentary on key economic indicators such as GDP growth, unemployment rates, inflation, and consumer spending.
The Hambantota International Port Group (HIPG) has unveiled a major $41 million investment to enhance its container operations, set to be fully operational by January 2025. This upgrade includes the installation of four advanced Quay Cranes (QCs) and 13 Rubber-Tyred Gantry Cranes (RTGs) at Hambantota International Port (HIP), increasing the port’s capacity to handle 1
Inflation in Colombo fell further into deflationary territory in November 2024, as anticipated by the Central Bank, with a significant decline in non-food prices and a slower decrease in food prices compared to the previous month. The Colombo Consumer Price Index (CCPI) saw a 2.1% drop in the year through November 2024, a sharper decline
The Central Bank of Sri Lanka (CBSL) has reported a notable decline in non-performing loans (NPLs) during the third quarter of 2024 (Q3), reflecting the country’s gradual economic recovery. According to the Credit Supply Survey, NPLs across the retail, corporate, state-owned enterprises (SOEs), and SME sectors reduced significantly compared to the previous quarter. The NPL
IMF Managing Director Kristalina Georgieva has emphasized the importance of collective efforts from international financial institutions, official creditors, and bondholders to ensure the success of Sri Lanka’s economic reform and debt restructuring initiatives. Georgieva noted that the agreements reached by the Sri Lankan authorities with both the Steering Committee of the Ad Hoc Group of
The 24th edition of the Sri Lanka Economic Summit (SLES), organized by The Ceylon Chamber of Commerce, is set to take place on 28th and 29th January 2024 at the Shangri-La Hotel, Colombo. This year’s theme, “Shaping Sri Lanka’s Future: Transformational Growth Rooted in Sound Economic Policies,” reflects the summit’s focus on fostering an export-led
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