The Ceylon Chamber of Commerce and the Sri Lanka Banks’ Association (SLBA) have formalized and strengthened their partnership by signing a Memorandum of Understanding (MOU) to promote sustainable finance and financial inclusion in Sri Lanka. This collaboration aims to build both demand-side and supply-side capacities in sustainable finance, supporting the advancement of Sri Lanka’s Sustainable
WIS Accountancy, a prominent digital accountancy, bookkeeping, tax, and business advisory service provider in the UK, is broadening its reach both in the UK and Sri Lanka. This year, the company unveiled MortgagX, an innovative AI-driven mortgage platform in the UK, aimed at transforming the mortgage experience for customers, advisors, and lenders alike. The development
The Central Bank of Sri Lanka (CBSL) anticipates that deflationary trends will continue in the coming months before inflation gradually aligns with the medium-term target of 5.0 percent. Administratively determined price cuts and improved supply conditions are expected to keep consumer prices under downward pressure. In September, Sri Lanka experienced its first dip in consumer
Sri Lanka’s rupee continued to gain strength, trading at 294.60/75 to the US dollar on Wednesday, improving from the previous day’s 294.75/295.00. Bond yields saw a further dip as well, with notable declines in key maturities. A bond maturing on 15.12.2027 was quoted at 11.30/40 percent, down from the previous 11.45/60 percent. Similarly, the bond
Sri Lanka has reduced the price of petrol by 21 rupees, bringing it down to 311 rupees per litre, effective from midnight on September 30. Diesel prices have also been cut by 24 rupees, now priced at 283 rupees per litre. Sinopec, a major fuel supplier in Sri Lanka, has lowered its diesel price to
The Sri Lankan rupee opened stronger at 295.80/296.10 to the US dollar on Tuesday, showing a slight appreciation from Monday’s close of 296.10/60. Meanwhile, bond yields remained steady, with slight fluctuations across various maturities. A bond maturing on 15.12.2027 was quoted at 11.60/80 percent, up marginally from 11.60/75 percent. The bond maturing on 15.02.2028 saw
Sri Lanka’s new government is set to present an interim budget for the first quarter of 2025 in November, according to Prof. Anil Jayanth Fernando, Chief of the National People’s Power (NPP) Economic Council. The full Budget for 2025 is expected to be passed by Parliament in January. The interim budget will introduce policies aligned
Sri Lanka’s central bank announced that it would maintain policy interest rates between 8.25% and 9.25%, citing the likelihood of deflation in the near term due to easing supply conditions and adjustments to administratively controlled prices. “The Board observed that inflation is likely to remain well below the 5% target over the next few quarters,
In a significant display of investor confidence following the election of President Anura Kumara Dissanayake, the Colombo stock market surged to record its largest daily gain in 2024. The All Share Price Index (ASPI) leapt by 237.31 points (2.14%), and the S&P SL20 followed with a 75-point increase (2.36%). Turnover hit Rs. 2 billion, involving
As of 25th September 2024, gold prices in Sri Lanka have seen an increase. The price of 22 carat gold stands at Rs. 209,850 for 8 grams (1 pawn), while 1 gram of 22 carat gold is priced at Rs. 26,230. For 24 carat gold, 8 grams is valued at Rs. 228,900, with 1 gram