News
CB says country still not out of the woods
The overall stabilisation and gradual improvement of domestic macrofinancial conditions eased the pressure on balance sheets of households and institutions to some extent and thereby lessened the risks faced by the financial sector in the first half of 2024, the Central Bank of Sri Lanka (CBSL) said on Friday (11) in a statement.
Credit growth entered the positive territory, albeit lagging behind the pace of deposit growth, the CBSL said.
It said the decline in market interest rates with the accommodative monetary policy stance along with falling inflation and lower risk premia, resulted in a partial correction of interest rate anomalies, which in turn supported the gradual uptick in credit, he said.
Moreover, the tilt in financial sector exposure towards the public sector also showed signs of correction, indicating an improvement in the allocation of financial resources towards the private sector, the CBSL said.
The Central Bank observed that amidst these developments, the credit cycle progressed within the expansionary phase with the gradual widening of the credit gap. While these developments are encouraging in terms of stabilisation of the financial sector, lingering macrofinancial challenges continued to pose concerns, the CBSL said.
Diminished real income amidst elevated price levels and rigidities in the labour market continued to dampen both the demand for credit and the improvement in credit quality. Moreover, the downward rigidity in market interest rates coupled with declining yet elevated yields of Government securities also hampered the progress of financial intermediation, the CBSL said.
News
Financial allocations for the development of infrastructure in provincial schools have been provided to all provinces – PM
Prime Minister Dr Harini Amarasuriya stated that the necessary financial allocations for the development of infrastructure in provincial schools have been provided to all provinces. She emphasized that these funds must be utilized effectively for school development and requested that relevant authorities submit proposals to address existing shortcomings in school infrastructure.
The Prime Minister made these remarks during a cordial meeting with Muslim women in the Wellawaya area on 1st of March.
Subsequently, the Prime Minister met with the Chief Sanghanayake of the Uva Wellassa region and the Chief Incumbent of Yudaganawa Rajamaha Viharaya, Venerable Rajakeeya Panditha Most Venerable Galtemwatte Nandarathana Nayaka Thero, and briefed him on the current progress of the new education reforms.
She further stated that, while ensuring due recognition for vocational education, steps are being taken to develop 50 vocational training centers equipped with modern courses, covering all 25 districts of the country. She also noted that new education reforms will be introduced for Grade 6 starting in 2027, and that the printing of new textbooks will be entrusted to the Educational Publications Department of the Ministry of Education.
The occasion was attended by Uva Province Governor Attorney-at-Law Kapila Jayasekara, Deputy Minister of Trade, Commerce and Food Security R.M. Jayawardhana, Member of Parliament Ruwan Wijewardene, local government representatives, the Buttala Divisional Secretary and the District Secretary.
[Prime Minister’s Media Division]
The Department of Immigration and Emmigration has decided effective from 28th February 2026, to grant a free fourteen (14) day visa extension to all tourists who are unable to leave Sri Lanka due to flight cancellations. 
The Maldives Coast Guard Ship Huravee arrived at the Port of Colombo for replenishment purposes on 02 Mar 26. The visiting ship was welcomed by the Sri Lanka Navy (SLN) in compliance with time-honoured naval traditions.
The ship is a 48.9m long Offshore Patrol Vessel which is commanded by Lieutenant Colonel Ahmed Nafiu Mohamed.
Meanwhile, the ship’s crew is scheduled to visit several tourist attractions in the city of Colombo, during their stay in the island.
South Africa strong favourites as quest for elusive silverware hots up
Australian girl, 8, killed in snowmobile accident in Japan
Russia, China raise diplomatic voices against US-Israeli attacks on Iran
Financial allocations for the development of infrastructure in provincial schools have been provided to all provinces – PM
Free 14 day visa extension for visitors unable to depart Sri Lanka
US embassy in Dubai hit; Israel pounds Tehran, Beirut
‘Dates have the highest sugar content to fight Coronavirus’
Sunday Island 27 December – Headlines
#SundayIsland 17th December – Headlines
Sunday Island – 28th March
Sunday Island Headlines – 21 March
Sunday Island – 21st February – Headlines
-
Opinion6 days agoJamming and re-setting the world: What is the role of Donald Trump?
-
Features3 days agoBrilliant Navy officer no more
-
Features6 days agoAn innocent bystander or a passive onlooker?
-
Features7 days agoRatmalana Airport: The Truth, The Whole Truth, And Nothing But The Truth
-
Opinion3 days agoSri Lanka – world’s worst facilities for cricket fans
-
Business7 days agoIRCSL transforms Sri Lanka’s insurance industry with first-ever Centralized Insurance Data Repository
-
Business6 days agoAn efficacious strategy to boost exports of Sri Lanka in medium term
-
Features4 days agoOverseas visits to drum up foreign assistance for Sri Lanka