Plantation sector workers in Sri Lanka are set to receive a revised daily minimum wage of Rs. 1,350, effective October 10. This increase comes with an additional allowance of Rs. 50 for each extra kilo harvested, following successful negotiations between Regional Plantation Companies (RPCs), trade unions, and the Wages Board. According to industry sources, the
Sri Lanka’s rupee appreciated against the US dollar, trading at 293.70/90 on Friday, compared to 294.00/50 the previous day, while bond yields remained stable, according to dealers. The rupee has shown a consistent upward trend in recent days, coinciding with a reduction in the central bank’s bill stock. As the exchange rate strengthens, importers are
DFCC Bank PLC in Sri Lanka is set to launch a senior, rated, 3-year green bond issue to raise Rs 2 billion, with a potential Greenshoe option to increase the amount to Rs 2.5 billion. The subscription list for the green bond issue opens on Thursday, the 12th. The bank will initially issue 20 million
Sri Lanka has successfully restructured defaulted loans and past due interest owed to the Export Import Bank of China, transforming them into $4.187 billion in new loans, according to the Finance Ministry’s June 2024 debt bulletin. In March 2024, Sri Lanka owed $3.993 billion to the Exim Bank of China, including $903.8 million in arrears.
Sri Lanka’s headline inflation, measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100), dropped sharply to 0.5% in August 2024 from 2.4% in July 2024. This significant decline aligns with the Central Bank of Sri Lanka’s (CBSL) projections. Food inflation (Y-o-Y) decreased to 0.8% in August from 1.5% in July,
Sri Lanka’s cabinet has approved a reduction in household water tariffs of up to 10 percent under a cost-reflective tariff formula, according to Minister Bandula Gunawardana. Low-income domestic users will see a reduction of approximately 10 percent, while other categories will experience cuts of around 5.9 to 6 percent. The Water Supply and Drainage Board’s
Sri Lanka’s Wages Board has mandated a daily wage of 1,700 rupees for plantation workers, which legislators argue amounts to 2,000 rupees with provident fund benefits. This decision follows earlier political threats to expropriate firms not complying with the new wage regulations. Legislator Vadivel Suresh highlighted that the wage includes 1,350 rupees plus EPF, ETF,
Sri Lanka’s rupee weakened to 302.30/43 against the US dollar on Monday, compared to 301.90/302.05 on Friday, according to dealers. Meanwhile, bond yields saw an upward trend. A bond maturing on December 15, 2026, closed at 10.75/80 percent, up from 10.45/60 percent. A bond maturing on December 15, 2027, closed at 11.80/12.05 percent, up from
Sri Lanka’s rupee closed marginally weaker at 301.90/302.40 to the US dollar on Monday, compared to 301.70/302.00 on Friday, according to dealers. Meanwhile, bond yields continued to decline. A bond maturing on 15.12.2026 closed at 10.80/90 percent, down from 10.90/11.00 percent.A bond maturing on 15.12.2027 closed at 11.70/80 percent, down from 11.75/80 percent.A bond maturing