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SL Credit card holders restrain spending amid higher interest rates and inflation

The credit card balance, a distant proxy for consumer spending, bucked the recent trend to show a decline in January and the drop in the number of cards in February this year, reflecting some pullback in spending amid higher interest rates and inflation.

Sri Lanka’s China swap of US $1.4 billion to be extended for three years

A swap with the People Bank of China is to be extended for another three years from 2024, according to documents released with the approval of a deal with the International Monetary Fund.

SL seeks transaction advice from IFC to sell three state owned enterprises

The Sri Lanka government is negotiating with the International Finance Corporation (IFC)

Sri Lanka explores the possibility of using the Indian Rupee for trade with India

Sri Lanka is exploring the possibility of enhancing trade with India using the Indian Rupee.

Sri Lanka to sign China FTA this year under pressure of debt restructure

China is pushing Sri Lanka towards the signing of China-Sri Lanka Free Trade Agreement (FTA) signed this year 2023 while there are many issues to be resolved in the agreement,

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Sri Lankan Filmmakers Target Hollywood, Opening New Global Opportunities

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Visa Fraud Syndicates Exploit Sri Lankans’ Desperate Foreign Dreams

Sri Lanka’s desperate search for overseas employment and better...

HSBC’s Dual Exit Exposes Sri Lanka’s Investor Confidence Crisis

Sri Lanka’s economic recovery faces a fresh test as...

President Orders Faster Development of Katunayake Airport and Domestic Airports

President Anura Kumara Dissanayake has directed officials to accelerate ongoing projects to increase passenger-handling capacity and improve facilities at Katunayake International Airport, while also advancing the development of domestic airports across the country to meet future aviation demands. The directive was issued during a discussion on the 2027 Budget proposals for the Ministry of Ports and Civil Aviation held at the Presidential Secretariat. During the meeting, the President reviewed the progress of development projects at Katunayake Airport and stressed the importance of completing them without delay. He also highlighted the need to expand supporting infrastructure, including road networks surrounding the airport, to improve accessibility and accommodate growing passenger traffic. Improving convenience and facilities for air travellers at both Katunayake International Airport and regional airports was another key focus of the discussion. The meeting was attended by Minister of Ports and Civil Aviation and Minister of Energy Anura Karunathilaka, Minister of Labour and Deputy Minister of Finance and Planning Dr. Anil Jayantha Fernando, and Deputy Minister of Ports and Civil Aviation Janith Ruwan Kodituwakku. Other participants included Chief of Staff to the President Prabath Chandrakeerthi, Senior Additional Secretary to the President and Secretary to the Ministry of Energy Russell Aponso, Secretary to the Ministry of Finance, Planning and Economic Development Dr. Harshana Suriyapperuma, and Secretary to the Ministry of Ports and Civil Aviation W. W. S. Mangala. Deputy Secretary to the Treasury A. K. Seneviratne, Director General of the Department of National Budget Jude Nilukshan, and other officials from the relevant institutions and the Ministry of Finance also attended the discussion.
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