Central Bank of Sri Lanka Launches the Sustainable Finance Roadmap 2.0
The Central Bank of Sri Lanka (CBSL) launched the Sustainable Finance Roadmap 2.0 on 05 May 2025 at the Atrium of CBSL, marking a key milestone in its continued efforts to foster a climate-resilient and socially inclusive financial system. Recognising the growing implications of climate-related risks on price stability and financial system stability, CBSL introduced […]
CSE Launches XBRL System to Enhance Financial Reporting for Listed Companies
The Colombo Stock Exchange (CSE), in collaboration with the Securities and Exchange Commission of Sri Lanka (SEC) and the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), has embarked on a significant initiative to introduce the eXtensible Business Reporting Language (XBRL) for listed entities in Sri Lanka. This move is expected to transform […]
Sri Lanka’s Economy Outpaces Growth Projections, More Efforts Needed to Reduce Poverty, Boost Medium-term Growth – World Bank
Sri Lanka’s economy has made a remarkable recovery in 2024, surpassing growth expectations by recording 5 percent growth, compared to the projected 4.4 percent, says the World Bank. This growth has been driven by strong performances in industry and services, particularly in construction and tourism-related services. In 2025, growth is expected to moderate to 3.5 […]
A First for Sri Lanka: HNB and RDA Introduces Card Payment on Expressways
HNB PLC, Sri Lanka’s leading private sector bank, announced a partnership with the Road Development Authority (RDA) to launch the island’s first card-based toll payment system, marking a significant step forward in enhancing commuter convenience and modernising national transport infrastructure. The pilot phase of the initiative was officially launched on April 11, 2025, at the […]
Softlogic Life acquires Allianz Life Insurance Lanka, marking a new stage of growth
Softlogic Life, one of Sri Lanka’s leading life insurers, today announces it has agreed to acquire 100% of the shares of Allianz Life Insurance Lanka Limited , subject to the approval of the Insurance Regulatory Commission of Sri Lanka. The acquisition aligns with Softlogic Life’s mission to deliver world class life insurance products to consumers […]
Interest rates will go down gradually, says Bank
The Bank of England has warned economic and global trade uncertainty has “intensified” as it held UK interest rates at 4.5%. US trade tariffs and retaliation to the import taxes from the likes of the EU have created uncertainty for countries, the Bank said. Its decision to hold rates was widely expected, but governor Andrew […]
Fed cuts US growth forecast as tariff fears increase
The US central bank has cut its growth forecast as it warned President Donald Trump’s tariffs were “clearly” driving up prices. The Federal Reserve released its projections for the world’s largest economy on Wednesday while keeping interest rates unchanged again, saying it wanted to see how the White House policies unfold. That decision, which was […]
ComBank launches ‘TradeLink’ – a digital platform for importers and exporters
Sri Lanka’s importers and exporters have been provided with a sophisticated new digital platform for all their trade finance requirements by the Commercial Bank of Ceylon, the single largest private sector facilitator of the country’s international trade via a gamut of trade-related services. ‘ComBank TradeLink’ is a seamless, intuitive, user-friendly and future-ready digital front-end that […]
Ex-CBSL Governor defends ISB borrowings, says it averted early default
Former Governor of the Central Bank of Sri Lanka (CBSL), Dr. Indrajith Coomaraswamy, addressed allegations regarding the surge in International Sovereign Bond (ISB) borrowings during his tenure that led to the country’s debt default, clarifying that much of the debt was used for liability management and to avert an earlier default. Speaking at a public […]
European Central Bank cuts interest rates again
The European Central Bank (ECB) has cut interest rates for the sixth time in nine months as it seeks to bolster eurozone economic growth. The bank stuck to its plan to lower rates in the face of economic challenges, including threats of US tariffs and plans to boost European military spending. The ECB cut its […]