Sri Lanka’s rupee is set to decline and lose almost a fourth of its value against the dollar by end-2023, according to a Bloomberg report.

The owner of Hru Media network (Asia Broadcasting ) Rayynor Silva has increased his stake in Sampath Bank to over 6% by picking up 20 million shares for Rs. 1 billion, the Daily Financial Times reports.

The Sri Lanka Retailers’ Association conducted the annual retail forum on the theme ‘Redefining Retail: Future Proofing the Forward Journey’ at the Cinnamon Grand last week.

Sri Lanka is well known for its technology enabled services. Despite being a small country in South Asia, the tech innovations of the country is chosen by many global clients as their technology partner or offshore service delivery destination.

Sri Lanka’s merchandise trade deficit recorded the lowest in 2022 in December, as earnings from exports highest ever while expenditure on imports declined significantly in 2022, compared to 2021, the Central Bank reported in its External recording the Sector Performance review for the month on Tuesday (31).

The government stands to lose Rs. 150 billion in annual excise income due to the fake stickers on liquor bottles.

The Monetary Board of the Central Bank of Sri Lanka (CBSL), at its meeting held yesterday (24), had decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 14.50 per cent and 15.50 per cent, respectively.

Customs codes (HS Codes) have been introduced for 142 new types of goods with effect from January 01.