Amid renewed concerns over the country’s lack of a WHO-accredited laboratory, Sri Lanka has begun upgrading its drug testing facilities to meet World Health Organization (WHO) accreditation standards.
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Committee on Public Finance (COPF) Chairman Harsha de Silva in a letter addressed to President Anura Kumara Dissanayake has informed him that absence of an Auditor General during a post disaster situation is disturbing.
The Sri Lankan Rupee has depreciated further against the US Dollar today (24 Dec), compared to Tuesday. According to the Central Bank of Sri Lanka, the buying rate of the US Dollar has increased from Rs. 305.76 to Rs. 305.80. Meanwhile, the selling rate of the Sri Lankan Rupee has increased from Rs. 313.35 to Rs. 313.39. The Sri Lankan Rupee has also depreciated against a basket of foreign currencies, including Gulf currencies. (Newswire) The post Today’s CBSL official exchange rates appeared first on Newswire.
ECONOMYNEXT – Sri Lanka’s Western Province retained its dominance in the economy in 2024, accounting for 42.4 percent, but the combined share of the other provinces increased, the central bank said. The Provincial Gross Domestic Product (PGDP) shows that the Western Province continued to account for the largest share of the country’s nominal GDP, it said in a statement. Nominal GDP for 2024 was 29,899 billion rupees. The North Western (11.5 per cent) and Central (10.7 per cent) provinces followed, recording the second and third highest shares of the economy in 2024, respectively, according to the PGDP estimated by the…
Photo courtesy of Revpacman Important events in the Christian calendar are to be regurlarly reviewed if they are to impact on the lives of people and communities. This is certainly true of Christmas. Years ago a modest rural community did exactly this, urging a pre-Christmas probe of the events around Jesus’ birth. From the outset, the wise men aroused curiosity. Who were these visitors? Were they Jews? No. were they Christians? Of course not. As they probed the text, the representative character of those around the baby, became starkly clear. Apart from family, the local shepherds and the stabled animals,…
ECONOMYNEXT – Sri Lanka’s Central Bank has barred Marlon Fernando International Forex Exchange Unit Pvt Ltd and Kurukulasooriya Firmie Marlon Fernando from taking new deposits, and repay all remaining deposit liabilities. After an investigation conducted under Section 42 of the Finance Business Act No. 42 of 2011, the central bank said it determined that the company and the individual have accepted deposits in contravention of the Act. Accordingly, the Central Bank of Sri Lanka has directed above mentioned company and the individual; (i) not to accept deposits from the public by issuing promissory notes or in any manner; and (ii)…
ECONOMYNEXT – Sri Lanka’s central bank Financial Intelligence Unit has collected 9.5 million rupees in administrative penalties from several reporting institutions, including LOLC Finance and National Development Bank from July to September 2025. Financial penalties were imposed on LOLC Finance, Fintrex Finance, Rank Entertainment (Pvt) Ltd (Casino Marina), Pan Asia Banking Corporation, Bullion Exchange, National Development Bank, and Mobitel for non-compliance with the provisions of the Financial Transactions Reporting Act, No. 6 of 2006. The penalties were “prescribed by taking into consideration the nature and gravity of relevant non-compliances of the Institutions” the central bank said. “Accordingly, as Sri Lanka’s…
ECONOMYNEXT – Sri Lanka’s rupee opened at 309.60/70 to the US dollar in the spot market Wednesday, relatively flat from 309.65/75 the previous day, having depreciated in recent weeks, dealers said, while bond yields were broadly steady from the previous close. A bond maturing on 15.12.2028 was quoted at 9.15/25 percent, down from 9.20/30 percent. A bond maturing on 15.09.2029 was quoted at 9.50/70 percent. A bond maturing on 15.12.2029 was quoted at 9.65/75 percent. A bond maturing on 15.03.2031 was quoted at 9.95/10.05 percent. A bond maturing on 15.12.2032 was quoted at 10.30/45 percent. A bond maturing on 01.11.2033…
ECONOMYNEXT – The International Monetary Fund has revised down Sri Lanka’s 2025 reserve projections, in a country report linked to an emergency loan, which analysts warned could happen due to rate cuts and strong private credit growth. Net International Reserves which were expected to grow from 1,493 million US dollars in 2024 to 2,729 million dollars, at the last review, but would now grow to around 2,159 million dollars by end December. NIR would still grow by 666 million dollars, down from 1,236 million dollars. The end December IMF program target is 448 million dollars. Analysts had warned in general…
ECONOMYNEXT – Gold and silver prices surged and some base metals also showed signs of moving as market responded to the Federal Reserve rate cuts and halting of deflationary policy. Gold hit 4,475 to the ounce, up from 20 dollars when the Fed was created. The Fed through so-called full-employment policies broke the gold standard in 1971, improved policy in the 1980s and 1990s, but started to print money from 2001 after macro-economists called for reflation. RELATED : US Fed cuts rates to 3.75-4.0-pct band, halts quantity tightening The Fed is now operating a so-called abundant reserve regime, involving a…
Pakistan has sold a majority stake in its national flag carrier, Pakistan International Airlines, to a consortium led by the Arif Habib Group after it submitted the highest bid of about $482 million, officials said Tuesday. The winning bid of 135 billion Pakistani rupees was made for a 75% stake in the airline as part of the government’s long-delayed privatization drive aimed at reducing losses at state-owned enterprises and easing pressure on public finances. The government will retain the remaining 25% stake. The Arif Habib Group is one of Pakistan’s largest business conglomerates, with interests spanning financial services, cement, steel,…
A T56 firearm along with two magazines was found inside a car parked along a road in the Ragama area, police said. According to the Sri Lanka Police, the weapon was recovered during a routine inspection. The car had been parked unattended at the time of the discovery. Police said investigations are underway to identify and arrest the suspects connected to the firearm. Further inquiries are being conducted to determine how the weapon was brought to the area and whether it is linked to any recent criminal activity. (Newswire) The post T56 firearm, two magazines found in car parked in…
Sri Lanka Police have arrested two suspects with large quantities of cocaine, crystal methamphetamine and heroin following raids conducted in Colombo and Gampaha districts, police said Tuesday. According to the Colombo Central Division Criminal Investigation Unit, the first arrest was made on the night of Dec. 22 in the Wellawatte police area, where officers seized 114 grams of cocaine and arrested a 43-year-old resident of Moratuwa. Police said information obtained from the suspect led to a second raid early Dec. 23 in the Dalupitiya area, where another suspect was arrested with more narcotics. During the second operation, officers recovered 1…
China is prepared to extend all necessary assistance to Sri Lanka at all times and is ready to share its experience with Sri Lanka under the “Rebuilding Sri Lanka” programme, stated Mr. Wang Junzheng, Member of the 20th Central Committee of the Communist Party of China (CPC) and Secretary of the CPC Committee of Xizang Autonomous Region. Mr. Wang Junzheng made these remarks during a meeting with President Anura Kumara Dissanayake at the Presidential Secretariat today (23), while visiting Sri Lanka with a Chinese delegation. At the meeting, President Dissanayake expressed his gratitude for the emergency and humanitarian assistance provided…
Up to 374,000 workers in Sri Lanka have been affected by floods and landslides caused by Cyclone Ditwah, with potential income losses estimated at US$48 million per month, according to a new brief by the International Labour Organization (ILO).
Despite critical weather conditions in the country, Sri Lanka recorded 154,609 tourist arrivals in just 21 days this December.
Priandana’s achievement stands alone — he is the first bowler to take all five wickets himself in a single over at the international level.
Armed men have kidnapped 28 people travelling to an annual Islamic event in Nigeria’s central Plateau state, local sources have told the BBC.
The Cabinet has approved a proposal by the Minister of Fisheries, Aquatic and Marine Resources to provide tariff relief on the import of Milk fish until local production can fully meet demand.
Despite the setback, Colombo Municipal Council (CMC) Mayor Vraie Cally Balthazaar said the budget would proceed to a second reading, during which amendments could still be proposed if necessary.