Eight Sri Lankan business conglomerates have signed agreements to pursue commercial mediation to settle disputes as opposed to always using litigation, a move that will help make the Sri Lankan judicial system more efficient and effective by reducing case backlogs.
The Inland Revenue Department (IRD) says that it has collected tax revenue of Rs. 696,946 million for the first half of this year.
Sri Lanka had verifiably met 33 of the trackable programme commitments of the International Monetary Fund (IMF) programme as at the end of June 2023 but had failed eight, according to the ‘IMF Tracker', an online tool launched by Verité Research.
A weekly public finance update by Verite Research revealed that out of the 52 key State-Owned Enterprises (SOEs) identified by the Ministry of Finance, only 11 have released their financial reports until the year 2022 as of June 30th, 2023.
The Monetary Board of the Central Bank of Sri Lanka (CBSL) has decided not to renew the money changing permits of the 15 MCs listed below for the year 2023, due to the non-compliance with a condition of the permits issued for the year 2022, which was communicated to the respective MCs on February 22, 2023.
Colombo’s Galadari Hotel will be renamed Radisson Blu Hotel Galadari Colombo under a renovation by a multinational hospitality company.
The Sri Lanka Banks’ Association has emphasized that by optimizing domestic debt, the hard-earned funds of the working people in the country will be safeguarded from potential losses.
The Women's Chamber of Industry and Commerce (WCIC) has encouraged all stakeholders to support the Domestic Debt Optimization (DDO) framework and work towards reviving the economy.
The Monetary Board of the Central Bank of Sri Lanka (CBSL) has decided to reduce the bank’s standing deposit facility rate (SDFR) and the standing lending facility rate (SLFR) by 200 basis points to 11.00 per cent and 12.00 per cent, respectively.
The Sri Lankan government’s proposal for treatment of domestic debt marks a significant step towards resolving uncertainties around the impact of the sovereign’s debt restructuring on the local banking sector, but complications may arise from a number of factors, says Fitch Ratings.
