The Committee on Public Enterprises (COPE) recently observed that W.M. Mendis & Co Ltd has obtained loans by mortgaging the same property in Bank of Ceylon (BOC) and People’s Bank.…

Diesel & Motor Engineering PLC (DMO) acquired a 94.45% stake in Germany-based EgeSun GmbH’s subsidiary, Tropical Health Food (THF) Pvt Limited for Rs.450.08 million yesterday. The owner of EgeSun, Orhan…

The U.S. and Keells are partnering to strengthen small businesses in Sri Lanka through an agreement to connect Keells suppliers with private business advisory service providers. “The small businesses that…

(Reuters) – Sri Lanka increased fuel prices on Tuesday, a long-flagged move to mend public finances and combat its debilitating economic crisis, but the hikes are bound to add to…

The Government of Japan is giving essential medicines to Sri Lanka through UNICEF to meet the urgent needs of the most vulnerable population as the country grapples with shortages due…

The Ceylon Chamber of Commerce officials met with the leaders of several key political parties during the last 4 days to discuss the serious economic and political challenges faced by…

(Reuters) – U.S. investment bank JPMorgan backed Sri Lanka’s crisis-hit government bonds on Wednesday, saying recent political changes in the country should gradually improve its strains and help its talks…

Due to the ongoing political unrest in Sri Lanka, shipping lines are going for transshipment routes that do not pass through the port of Colombo for the transport of goods…

Following the latest fuel price increase, a full tank (45 Liters) of Petrol (Octane 92) now accounts for almost 1/4th of average monthly household expenditure in Sri Lanka as measured…

The Central Bank of Sri Lanka (CBSL) recently launched the Sri Lanka Green Finance Taxonomy with an objective to enable the country’s financial market participants to raise low-cost funding for…

(Reuters) – Protesters and a key trade group in Sri Lanka called for a new government to take control of the crisis-hit country on Tuesday while the president asked for…

UN Secretary-General Antonio Guterres wants Sri Lankans to find a solution through dialogue to the crisis in their country, whose Prime Minister Mahinda Rajapaksa resigned amid violent clashes spurred by…

By Keshini Madara Marasinghe Sri Lanka is experiencing its worst economic downturn in history. Due to depleting foreign reserves, the country is facing shortages in fuel, food, cooking gas, medicines,…

 (Reuters) – On a lush plantation in Sri Lanka, Arulappan Ideijody deftly plucks the tips of each tea bush, throwing them over her shoulder into an open basket on her…

Two Secretaries to Ministries, a Secretary to State Ministry, and three Ambassadors received the approval of the Parliamentary Committee on High Posts today (05). This approval was granted at the…

Colombo Bourse closed in the red zone on Wednesday after consecutive gains during the last three trading sessions as a selling spree emerged, First Capital Research said. Following the long…

(Reuters) – Sri Lanka plans to replace its current “unrealistic” budget and is in talks with the World Bank to extend its support by $300 million to $700 million, the…

Crisis-ridden Sri Lanka has identified seven classes of products, aside from petroleum, to be imported from India this year under credit facilities, according to Indian media reports. The product classes…

Sri Lanka must tighten monetary policy and raise taxes to address its debt crisis, a senior International Monetary Fund (IMF) official said on Tuesday, even as Lanka’s President Gotabaya Rajapaksa and the cabinet…

U.S. Ambassador Julie J. Chung visited Jaffna from April 24 to 27 in her initial trip to northern Sri Lanka as Ambassador.   “It was essential to me to visit…

The World Bank has agreed to provide Sri Lanka with $600 million in financial assistance to meet payment requirements for essential imports, according to Sri Lankan president’s media division said.…

 (Reuters) – Sri Lanka has begun discussions with China about refinancing its debt, a cabinet spokesman said on Tuesday, as Colombo struggles with its worst financial crisis in decades. China…

Op-Ed by UNICEF Sri Lanka Article 3(1) of the United Nations Convention on the Rights of the Child (CRC)states that, “ln all actions concerning children the best interest of the…

The fuel stocks expected to arrive within the next three days will gradually end the long queues at filling stations around the country, the Ministry of Power and Energy said.…

State-Owned Building Materials Corporation (BMC) has failed to prepare financial statements since 2016, Committee on Public Enterprises (COPE) revealed. This was revealed at the COPE meeting chaired by Prof. Charitha Herath…

Conrad Dias, the previous Chief Executive Officer of LOLC Finance PLC assumed duties as the Non-Executive Chairman of LOLC Finance PLC. In alignment with the financial sector consolidation plan of…

Amid the ongoing economic crisis in Sri Lanka, HCL Technologies said that it has not seen any business impact on its deliverables, or any slowdown in hiring in the region,…

(Reuters)- Crisis-hit Sri Lanka has paid for two Russian cargoes to SUEK AG’s Singapore unit through a telegraphic transfer, two senior government officials told Reuters, in a move that is…

(AFP) – Crisis-hit Sri Lanka’s inflation hit a record high for the sixth consecutive month, official data showed on Friday as the government asked the IMF for an urgent bailout. The…

The prevailing forex crisis in Sri Lanka has severely impacted many industries in the country’s economy, including the dairy industry. As an industry with endless potential to help the economy,…

The World Bank on Tuesday expressed their support to Sri Lanka during a meeting with Finance Minister Ali Sabry in Washington DC, which was attended by  the World Bank’s private…

By Anis Chowdhury and Jomo Kwame Sundaram Sri Lanka has just defaulted on its foreign debt for the very first time. Attributing its current predicament to a Chinese ‘debt-trap’ is a new Cold War…

Sri Lanka’s continued fuel crisis has prompted India to extend another helping hand to the troubled island nation with an additional $500 million in financial aid. Sri Lanka’s foreign ministry…

The Sri Lanka rupee has further depreciated against the US Dollar, the Central bank of Sri Lanka (CBSL) said. The rupee has depreciated by Rs. 5 against the Dollar in…

(Reuters) – India and Sri Lanka have resumed talks on linking their electricity grids, officials told Reuters on Tuesday, a step that could aid New Delhi’s goal of reducing China’s…

Colombo Stock Brokers Association (CSBA) defends the decision by the Securities and Exchange Commission of Sri Lanka (SEC) to temporarily close down the Colombo Stock Exchange (CSE) for 5 business…

Concerned by the current political deadlock coupled with growing public unrest, Sri Lanka’s Joint Business Chambers led by the Ceylon Chamber of Commerce (CCC) urged President Gotabaya Rajapakse to immediately…

Indian companies have bagged several renewable energy projects in economic-crisis hit Sri Lanka. The Indian government has offered a line of credit to Sri Lanka to help the island nation…

Sri Lanka’s economic outlook is highly uncertain due to fiscal and external imbalances. Urgent policy measures are needed to address the high levels of debt and debt service, reduce the…

Fitch Ratings has downgraded Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘C’ from ‘CC’ following the Government’s decision to suspend debt servicing of several categories of its external…

(Reuters) – Sri Lanka’s central bank said on Tuesday it had become “challenging and impossible” to repay external debt, as it tries to use its dwindling foreign exchange reserves to…

With the nation of Bangladesh poised to become an economic powerhouse in the South Asian region,the Ceylon Chamber of Commerce hosted a meeting with a high-level delegation representing theBangladesh Export…

The Colombo Stock Exchange (CSE) will not be operating on 11th and 12th April with the Government having declared special public holidays. It would mean that the stock market will…

The Sri Lanka Institute of Marketing (SLIM) elected Mr. Nuwan Gamage as it’s 44th President in its 52nd year along with New Council of Management and Executive Committee for the…

 (Reuters) – Sri Lanka’s central bank on Friday doubled its key interest rates, an unprecedented 700 basis points each, to cushion the rise in inflation caused by a crippling shortage…

23 industry associations, representing private sector firms engaged in export, import andlogistics industries warned of catastrophic consequences for Sri Lanka’s economy and the people if the ongoing economic and political…

Linnean Society of London has awarded veteran naturalist and zoologist Dr.Rohan Pethiyagoda with its prestigious Linnean Medal of zoology for the critical played by him in the understanding and conservation…

Asian Development Bank (ADB) projects Sri Lanka’s economic growth to slowdown to 2.4% this year and to pick up slightly to 2.5% in 2023. “The outlook is clouded by Sri…

GLOBAL asset managers including Fidelity Investments and T Rowe Price Group could be staring down the risk of default in Sri Lanka in the face of a deepening economic crisis.…

The Colombo Tea Traders’ Association (CTTA), the apex private sector body comprising ofall Stakeholders namely Growers, Manufacturers, Brokers, and Buyers/Exporters warn of dire consequences if the current fuel and power…

(Bloomberg) : The boom in Sri Lanka’s stocks has turned to bust as a 33% slide renders the market the world’s worst performer this year after Russian equities. The slide in Sri…

The Central Bank of Sri Lanka (CBSL) has delayed the announcement of the Monetary Policy Review decision which was scheduled for tomorrow with the resignation of the CBSL Governor, Ajith…

We represent the product, services, and startup companies of the ICT ecosystem in Sri Lanka. This community is a free and an independent group of industry leaders who deeply value…

Sri Lanka shares had their worst weekly fall ever on Friday, having extended losses to a fifth straight session, with the Colombo Stock Exchange halting trade for a third consecutive…

(Reuters) – The International Monetary Fund will initiate discussions with Sri Lankan authorities on a possible loan program in coming days, IMF spokesperson Gerry Rice said on Thursday, as the…

Issuing a brief statement today, Sri Lanka’s utility regulator, the Public Utilities Commission of Sri Lanka (PUCSL), Chairman, Janaka Ratnayake announced the filing of a petition with the supreme court.…

Considering the complaints received from general public that Prasanna Money Exchange (Pvt) Ltd is offering higher exchange rates, the Central Bank of Sri Lanka (CBSL) has temporarily suspended the permit…

Exterminators Limited created history yesterday, becoming the first-ever pest control firm to be listed on a stock exchange in South Asia & the developing and emerging world, the company announced.…

A new global survey conducted by Ipsos for the World Economic Forum finds that, even though most consumers across the world expect their purchasing power to be impacted by rising energy prices, few blame…

(AFP) – The sky and seas off Sri Lanka’s coast are crystal blue but a worsening economic crisis has kept fishermen moored at Negombo harbour, out of gas and unable to…

Entering into a reverse course in money-printing, the Central Bank of Sri Lanka (CBSL) plans to cut nearly one-third of its holdings (Rs.500 billion) in government securities amidst rising inflation…

(Reuters) – Sri Lanka’s economy grew at a slower-than-expected 1.8% in the fourth quarter of the 2021 financial year, taking its full-year growth to 3.7%, data from the government’s statistics department showed on Tuesday. Lower than…

Colombo Bourse dropped down for the second day while recording the highest intraday loss in four and half weeks amidst the uncertainties attached to the aggravated power cuts and fuel…

The Minister of Labour, Nimal Siripala de Silva urged the private sector to prioritize their social responsibility towards their employees in order to achieve shared prosperity. “ For businesses to…

 In Sri Lanka, women are denied equal access to the jobs market not just because of family or social factors, but also by employers. This is the focus of a…

Sri Lanka faces “solvency” issues because of risks stemming from unsustainable debt levels that jeopardize the nation’s economy, according to International Monetary Fund staff. “Based on staff analysis, the fiscal…

The proposed train fare hike which was to be in effect from midnight Thursday (24) has been temporarily blocked by the Transport Ministry. According to the Transport Minister, Dilum Amunugama,…

By Faris Hadad-Zervos. World Bank and Hans Timmer Sri Lanka has managed the health and safety aspects of the COVID-19 pandemic in a commendable way.  The nation has been and…

Watawala Plantations PLC has entered into a share sale and purchase agreement on 21st Marchwith Aruna Moragoda, who owns a 100% stake in Moragoda Agro Services (Pvt) Ltd for Rs.88.5…

Sri Lanka’s National inflation measured by the national Consumer Price Index (NCPI) accelerated to its highest levels since 2015 17.5 percent on a Year-on-Year basis in February 2022, the Department…

The United States’ Under Secretary of State for Political Affairs Victoria Nuland arrived in Colombo with an interagency delegation for meetings with the Government of Sri Lanka, as well as…

A shipment worth 35,000 Metric Tonnes of diesel from India arrived this morning. This is the first diesel shipment purchased under the Credit Line obtained from India. According to the…

At least two people have died in Sri Lanka while waiting in long queues for fuel, officials say, as widespread shortages and sky-rocketing prices cause misery and hardship across the…

Following the decision to float the exchange rate of the Rupee, the Central Bank of Sri Lanka (CBSL) announced the decision to withdraw the proposed scheme for additional incentives for remittances…

The highways Minister Johnston Fernando had reviewed the progress of the new highway project, which spans from Ingurukade junction to Colombo Port city. The project is to be completed and…

Business earnings to take a hit from rising inflation levels which are projected to accelerate at double digits for the rest of the year, First Capital Research stated. “While 2022…

Sri Lanka’s Finance Minister Basil Rajapaksa signed a $1 billion credit line with India on Thursday to help ease crippling shortages of essential items, including fuel, food and medicine, officials…

Increase in production costs resulted in all soft and hard liquor prices in Sri Lanka to go up from today midnight, with approximately Rs.100 per bottle of arrack and Rs.10…

The Urban Development Authority (UDA)  has proposed to set up Special Economic Zones (SEZs) in Galle, Bandarawela, Ratnapura city center, Thimbirigasyaya, Fort, Pettah, and Kollupitiya under proposed city development plans. Urban…

Russian oligarchs will no longer have access to baubles such as the cars, artworks and designer handbags sold by British companies, after the government blocked exports worth hundreds of millions…

This week U.S. Ambassador Julie Chung visited Kandy to preside over events marking two milestones in the United States’ long-standing support to preserving Sri Lanka’s diverse cultural heritage.    On March 14,…

(Reuters) – Sri Lanka’s finance minister held talks with a top International Monetary Fund (IMF) official on Monday, two sources said, as the island nation seeks help to deal with…

Sri Lanka’s cabinet of ministers had given the go ahead to raise bus fares by an average of 15 percent, reports said, in the wake of a steep fall of…

Oil prices soared to their highest since 2008 due to delays in the potential return of Iranian crude to global markets and as the United States and European allies consider…

The big four consulting firms — Deloitte, KPMG, EY and PwC have announced the withdrawal of operations in Russia and Belarus over Moscow’s invasion of Ukraine. A spokesperson for KPMG…

Twitter has launched a privacy-protected version of its site to bypass surveillance and censorship after Russia restricted access to its service in the country. Russia has blocked access to Facebook…

The Central Bank of Sri Lanka (CBSL) has removed the interest rate caps imposed on foreign currency deposit products of licensed commercial banks and the National Savings Bank following its…

By Maheswary Sivapragasam (IDN) — As land forgery continues unabated in Sri Lanka, something has to be done to prevent the prevalent rate of land fraud, with legal owners and…

The COPE Chairman (Prof.) Charitha Herath stated that decisions taken by the Board of Directors of Public Institutions occasionally, cause chaos when it comes to public money. The Chairman stated…

A Gazette Extraordinary has been issued by the Department of Import and Export Control limiting the import of 367 non-essential goods to Sri Lanka. Accordingly, the Imports and Exports Control…

(Reuters)- Sri Lanka’s central bank said foreign currency reserves dropped to $2.31 billion by the end of February, a level that could provide a month’s breather in efforts to lure…

By Asanga Abeyagoonasekera 141 of the 193 United Nations member states voted for the UN resolution on Russia’s aggression (thirty-five abstained and five voted against). Almost the entire world has…

(TBSNews): Sri Lankan conglomerate Softlogic’s retail holdings wing entered into an agreement on Friday to fully acquire Agora, Bangladesh’s first-ever and second-largest supermarket chain, according to public disclosure by the…

The International Monetary Fund (IMF) urges Sri Lanka to implement an ambitious fiscal consolidation that is based on high-quality revenue measures which consist of raising income tax and VAT rates…

By Asanka Wijesinghe The Russian invasion of Ukraine deepens the existing global economic woes – persistent supply chain bottlenecks and associated rising inflation – clouding the prospects of a smooth global economic recovery from…

Colombo-based independent research house, First Capital Research predicted an 80 percent probability for a policy rate hike at the upcoming Monetary Policy Review Meeting of the Central Bank of Sri…

U.S. Ambassador Julie Chung witnessed the signing of the Memorandum of Understanding (MOU) between DFCC Bank and the U.S. government’s Agency for International Development (USAID) Private Sector Development project to…

The Ceylon Chamber of Commerce (CCC) recently launched the 7th edition of its flagship annual OutlookReport for 2022 at the Economic Outlook 2022 webinar. Titled ‘Road to Recovery: Overcoming Challenges’,…

Sri Lanka’s tourism earnings have overtaken Workers’ remittances inflows in January this year as emittances inflows fell to a fresh 13-year-low of $ 259 million in January amidst parrel exchange…

 (Reuters) – Sri Lankan shares plunged nearly 7% on Wednesday as fuel shortage-induced countrywide power outages spooked investors amid the nation’s worst economic crisis in years. The CSE All-Share index…

(Bloomberg) — Many Sri Lankan voters who backed President Gotabaya Rajapaksa’s election bid three years ago are now struggling to make ends meet. His government is spending to ensure that…

By Asanga Abeyagoonasekera Sri Lanka’s economic meltdown is one of the worst in recent decades, pushing many families into poverty. The situation is rapidly spiraling out of control with multiple…

With Colombo Port City and Cinnamon Life emerging as Sri Lanka’s most attractive investmentopportunities in the property and leisure sectors, a webinar hosted recently by the Sri Lanka CanadaBusiness Council…

 A new report published by the United States Patent and Trademark Office (USPTO), “Patenting Activity among 5G Technology Developers,” concludes that there is global competition in 5G innovation, with no one company dominating the…

The membership of the Ceylon Chamber of Commerce notes serious concerns on the provisions of the Surcharge Tax Bill that has been gazetted recently to implement the budget proposal on…

(SPGlobal): Suppliers at the port of Colombo have retracted offers for delivered 380 CST high sulfur fuel oil due to shortages of the bunker grade as local refineries direct the…

Sri Lanka’s Dialog Axiata PLC, a subsidiary of Malaysia’s Axiata Group Berhad expects to incur Rs.3-4 billion payment for the proposed one-off “Surcharge Tax” to be levied on large companies.…

A new report launched today by the World Economic Forum reveals that the Semiconductors, Electronics and Pharmaceuticals sectors are leading the way in the digital transformation of manufacturing. The Manufacturing Transformation…

The European Union (EU) has strongly urged Sri Lanka to lift forthwith import restrictions preventing many European products from entering its market during the 24th meeting of the Joint Commission held…

(Arab News) : Sri Lanka will focus on sending more skilled manpower to the Kingdom and inviting Saudis to tap into its family tourism market, Colombo’s new consul in Jeddah…

The overall selling prices of houses had increased by 22.53% and apartments by 17.68% in Q4 2021 when compared to Q4 of 2020, indicating an all-time high price, according to…

AFP : The International Monetary Fund is ready to discuss “options” with Sri Lanka if the government asks for financial support, its mission chief for the island told AFP on…

Pakistan is likely to issue a $200 million loan to Sri Lanka after the country will get a loan installment of $1 billion from International Monetary Fund (IMF). According to…

(AFP) : Sri Lanka has asked for “advice” from the International Monetary Fund amid a worsening economic crisis, the finance minister said Wednesday, signalling Colombo could seek an international bailout. The…

Ceylon Graphite Corp. (“Ceylon Graphite”) announced that it has achieved a significant breakthrough in the performance of its silicon enhanced vein graphite anode material for the lithium-ion (“Li-ion”) battery market.…

Under the Central Bank of Sri Lanka’s (CBSL) Masterplan for Consolidation of Non-Bank Financial Institutions, nine Finance companies have already introduced fresh capital of Rs 12.56 billion to meet regulatory…

Sri Lanka’s saving interest rates are continuing on an upward trajectory in responding to monetary policy tightening measures taken by the Central Bank of Sri Lanka (CBSL). The Average Weighted…

Sri Lanka imported $351.9 million worth of telecommunication devices (mainly mobiles and telephones) in the first eleven months of 2021 indicating a 52.3 percent increase over the corresponding period of…

The main index of the Colombo Stock Exchange (CSE), the All Share Price Index (ASPI) is forecasted to reach the 15,000 mark in the first quarter of the year before…

Ceylon Electricity Board Engineers Union (CEBEU) calls for the removal of the CEB Chairman M C Ferdinando amidst escalating row on the appointment of CEB General Manager (GM) in the…

The Monetary Board of the Central Bank of Sri Lanka (CBSL) has increased policy rates by 50 basis points to l curtail the possible build-up of underlying demand pressures in…

International and local economic experts and corporate leaders stressed the need for a concrete, long-term and bold reform agenda for the economy as the country braces for a critical year…

Construction of the second phase of the Eastern Container Terminal (ECT) of Colombo harbor commenced today (12th) morning under the patronage of President Gotabhaya Rajapaksha and Prime Minister Mahinda Rajapaksha.…

Sri Lanka will focus on ‘homegrown solutions’ to settle $6.9 billion external debt servicing obligations for 2022 with nearly half of these obligations falling within the 1st quarter of the…

Ceylon Graphite Corp. has successfully renewed its Environmental Protection Licence from the Central Environmental Authority (CEA) of Sri Lanka for ongoing operations at the K1 Mine project, the company announced.…

Sri Lanka’s standardized National Quick Response code – LANKAQR based transactions topped Rs. one billion in value for the first time in the third quarter of 2021. With a total…

Sri Lanka’s top business chambers urged the government to seek the support of the International Monetary Fund (IMF) as the forex crisis deepens pushing some businesses to consider relocating and…

Minister of Labor Nimal Siripala de Silva says that the government has decided to distribute the abandoned lands of the plantation companies to the plantation workers or the youth of…

(Reuters) – Sri Lanka’s economy shrank 1.5% in the third quarter from a year earlier due to a third COVID-19 wave that peaked in August hitting industries and services, the government…

The European Commission has today proposed a new tool to counter the use of economic coercion by third countries. This legal instrument is in response to the EU and its…

Most of Sri Lanka’s exporters are grappled with high costs in sourcing export inputs with some exporters are struggling to source export inputs while facing shortages, according to a recent…

Today, United States President Joe Biden announced he has appointed Alaina B. Teplitz to serve as Assistant Secretary of State for Administration. Ambassador Alaina B. Teplitz is a career member…

Browns Investment PLC, the strategic Investment Arm of Ishara Nanayakkara-controlled LOLC Group moves to invest in key leisure and tourism projects of Chinese-backed Colombo Port City (CPC) as it secured…

A Standard for LP Gas has already formulated The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator and the designated regulator for the petroleum industry, together with…

Nearly 200,000 additional Pfizer-BioNTech vaccine doses arrived in Sri Lanka today as a donation from the American people.  This gift demonstrates the ongoing commitment of the United States to support Sri…

Monisha Abraham has replaced Nedal Salem as the new Managing Director (MD), Chief Executive Officer (CEO), and n Executive Director of Ceylon Tobacco Company PLC (CTC) with immediate effect, making…

In a bid to promote boardroom diversity and establish a network of existing and prospective women directors, the Women Corporate Directors Foundation (WCD)—the largest organization of women corporate board members…

By Dr.Vagisha Gunasekara Summary Sri Lanka’s current economic quagmire is due to three overlapping economic crises: a meshing of another long drawn-out global capitalist bust phase (which commenced with the…

Chinese-state owned China Communications Construction Company has secured two lucrative port deals at the deep-water East Container Terminal (ECT) of Port of Colombo as China made further inroads deep into…

Sri Lanka along with  Egypt, Romania, Turkey are vulnerable to an exchange rate crisis in the next 12 months, according to Nomura’s early warning indicator of exchange rate crises, Damocles.…

(The Daily Star): Bangladesh Bank has lent $100 million more to Sri Lanka to help the island nation stay afloat tackling a foreign exchange crisis. The fund was transferred from…

Former Sri Lanka Podujana Peramuna (SLPP) Kalutara District parliamentarian and Former Minister Mahinda Samarasinghe is scheduled to take up the post of Ambassador of Sri Lanka to the United States…

Stax Inc, an analytically-driven global M&A strategy consulting firm management consultancy with offices in Sri Lanka and the United States secured a strategic investment from a US-based private equity firm, Blue…

First Capital Holdings has emerged as the strongest dividend yield stock among listed entities on Colombo Stock Exchange (CSE) for the one-year period ending on the 30th of June this…

The appointment of 08 Secretaries to Ministries has been approved by the Committee on High Posts. General (Retd.) Kamal Gunaratne, Secretary to the Ministry of Defense was among the Secretaries…

 The United States Agency for International Development (USAID) announced its new $19 million, 5-year Sri Lanka Energy Program recently. Once finalized, this grant will support the Government of Sri Lanka’s…

Sri Lanka was once the third-largest producer of coffee in the world. Devastatingly, the coffee leaf rust disease wiped out the country’s plantations in the 1860s and exports have remained…

Commercial Bank of Ceylon PLC won the coveted ‘Best Corporate Citizen Sustainability Award 2021’ at an annual event organized by the Ceylon Chamber of Commerce, the country’s premier business chamber,…

Ahead of the Monetary Policy Review Meeting of the Central Bank of Sri Lanka (CBSL), the First Capital Research predicted a 50% probability for a policy rate hike to prevent…

Sri Lanka’s Department of Immigration and Emigration is yet to update the “Electronic Travel Approval” (ETA) system which aims to provide a more comprehensive and attractive service for tourists planning…

The Largest Association of Gem Dealers in Sri Lanka, the Chinafort Gem and Jewellery Traders Association welcomes the Government’s initiatives to promote Ease of Doing Business measures in the Gem…

By Uditha Jayasinghe (Reuters) – Sri Lanka has temporarily shut its only oil refinery as part of efforts to manage dwindling foreign exchange reserves, the energy minister said on Tuesday, triggering…

Sri Lanka’s second-largest listed firm, Expolanka Holding PLC will not be subjected to a one-off 25% surcharge tax proposed in budget 2022 given the company’s earnings heavily skewed its overseas…

The United States government disbursed $150 million in financing to DFCC Bank on November 12 to support the sustainable development of Sri Lankan community-based businesses, the U.S Embassy in Colombo announced…

Sri Lanka’s government has revised the fiscal deficit projection to 11.1 percent of GDP in 2021 from the original 8.9 percent target with large shortfalls in income tax, Customs Import…

Sri Lanka’s Government proposed to impose a one-time surcharge tax of 25 percent on 62 individuals and companies with an annual turnover of more than Rs. 2 billion in the…

The Central Bank of Sri Lanka today published “Recent Economic Developments: Highlights of 2021and Prospects for 2022” online with an overview of the performance of the Sri Lankan economy in…

The investment ecosystem in Sri Lanka has drastically changed over the last few years, leading tomore opportunities and growth for local entrepreneurs. To better understand this growth, the Council for…

Sri Lanka’s tourism officials eyes direct air connectivity for tourism recovery as the Island destination attracted 22,771 tourists in October indicating modest improvement owing to factors such as vaccination advances…

Sri Lanka signed up to the 30by30 target committing to declare a minimum of 30% of the country’s marine reserves as protected areas by 2030 at COP26 in Glasgow along…

Pre-sales of John Keells Holdings (JKH)’s Pre-sales of ‘Cinnamon Life’ Residential Towers continue to move at a snail’s pace as of 30th of September this year despite the project nearing…

With stock market-listed ocean carriers reporting even better-than-expected profits for the third quarter, their executive boards are being forced yet again to upgrade full-year earnings forecasts. A third of the…

Buoyant by strong demand for its brush filament and polyester yarn products, Sri Lanka’s leading brush marker, BPPL Holdings PLC is considering installing a third polyester yarn plant with another…

Seeds for a smart culture of financial management Whether you take a personal or a societal viewpoint, smartsaving and investing isn’t just a process. It’s a culture, and as ‘Lifestyle…

Verité Research’s BudgetPromises dashboard on the PublicFinance.lk platform sheds light on two questions aboutSri Lanka’s budget: “is the Government doing what it is saying?” and “is the Government saying whatit…

Expolanka Holding PLC (EFL) last week became the first company on Colombo Stock Exchange (CSE) to reach Rs.400 billion in market capitalization. Capitalizing on favourable pricing trends in the logistic…

By Dushni Weerakoon Sri Lanka recently passed emergency regulations to deal with food shortages and price increases. Such powers are typically invoked to address public security concerns. But in this instance, they…

Sri Lanka’s leading player in the Capital Markets services sphere entered into an investment and partnership agreement with Bangladesh’s BetaOne Investments Limited as it continues with its journey to realize…

The Central Bank of Sri Lanka expects headline inflation to deviate somewhat from the targeted level of the 4-6 percent range in the near term while continuing to prioritize policy…

The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 13 October 2021 decided to maintain policy rates at current levels In consideration of the…

The U.S. Cotton Trust Protocol welcomes global apparel manufacturer Hela Clothing, a provider of sustainability-focused supply chain solutions, as a new member. With facilities located in Sri Lanka, Kenya, Ethiopia…

Major reform of the international tax system finalised yesterday at the OECD will ensure that Multinational Enterprises (MNEs) will be subject to a minimum 15% tax rate from 2023. The…

By Imesha Dissanayake Maritime Freight rates have been on an upward trend since the second half of 2020. The Drewry’scomposite World Container Index (WCI) as of 30th September 2021 increased…

By William P. Mako, David Robinett State-owned enterprises have long provided crucial infrastructure and other goods and services across Asia and the Pacific. Historically, these companies raised money directly from governments, or…

The Asian Development Bank (ADB) has approved a $110 million loan as additional financing for the ongoing Health System Enhancement Project that is improving the primary health care system (PHC)…

The Central Bank of Sri Lanka (CBSL) removed the 100 percent cash margin deposit requirement imposed on 623 ‘non -essetial’/non urgent’ imported goods including mobiles, home appliances, clothing, household, and…

Sri Lanka banned the import of organic fertilizers manufactured in China after state agriculture authorities detected harmful bacteria in them for the second time. Director General (DG) of Agriculture, Ajantha…

Sri Lanka will end its COVID-19 lockdown enforced last month on October 1, health minister Keheliya Rambukwella said on Wednesday, even as the medical professionals warned against the unrestricted re-opening…

(Reuters) – China’s power supply crunch, that has shut factories across the country, may pose a much bigger threat to the economy than the debt crisis at Evergrande Group (3333.HK), prompting…

(Reuters) – TikTok hit 1 billion monthly active users globally this summer, the company told Reuters, marking a 45% jump since July 2020. The United States, Europe, Brazil and Southeast…

South India’s textile and fabric exporters are worried that the economic crisis in Sri Lanka–India’s second-largest export destination for clothing products—may lead to a delay in payments from buyers in…

VOA News: A powerhouse in global trade, China has more shipping ports at home than any other country. Key investments add about another 100 ports in at least 60 nations.…

The Colombo Stock Exchange (CSE) today announced the appointment of Asanga C. Seneviratne as a Directorof the CSE Board with effect from 23rd September 2021. Seneviratne has previously served on…

Seven countries have signed a pledge initiated by the United Nations to stop building new coal power plants, with the aim to gather more signatures before the global climate summit COP26 in…

By Rabah Arezki and Jean-Pierre Landau As the global economy begins to emerge from the COVID-19 crisis, managing inflation risks will be much more challenging in developing countries than in…

Sri Lanka Agripreneurs’ Forum (SLAF) expressed grave concerns regarding the importation of a batch of contaminated organic fertilizer following confirmation from the Minister of Agriculture and National Plant Quarantine Services…

United Stated-based New Fortress Energy Inc. (“New Fortress”) and Sri Lanka’s Government have executed a definitive agreement for New Fortress’ investment in West Coast Power Limited (“WCP”), the owner of the 310…

Sri Lanka is experiencing acute food emergency. Long food queues are seen even in Colombo neighbourhoods amid tight lockdown measures. Shelves at government-run supermarkets are running low – some even…

Workers’ remittances inflows into Sri Lanka declined sharply for the third consecutive month in August erasing the growth see in remittances inflows in the early months of the year. The…

Natural gas prices are soaring around the world in what has become something of a global supply crunch. Prices in the U.S. recently hit a 7-year high, natural gas prices…

The outstanding foreign currency borrowings of Sri Lanka’s banking sector rose for the first time in a year in the second quarter(2Q2021) in the line with the Central Bank of…

International Monetary Fund (IMF) Managing Director Kristalina Georgieva today announced that Sri Lankan national Sharmini Coorey who has been the Director of the Institute for Capacity Development (ICD) since 2012,…

Sri Lanka’s largest corrugated carton manufacturer, Ex-Pack announced an unpacking of a new beginning, through its impending Rs.700 million initial public offering (IPO) for a 25 percent stake in the…

First Capital Research (FCR) recommends investors to limit the exposure to equities to 50% or to aggressively shiftportfolio to defensive counters amidst expectations on overall Interest rates rise and a…

Pakistan was downgraded from its status as an emerging market, a little over four years after it was reclassified from the Frontier Markets (FM) Index by Morgan Stanley Capital International…

The All Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) today recorded the largest single-day point decline of 328 points as the Bourse ended up closing in red…

Sri Lanka has $267 billion worth of oil and gas resources hidden in the Mannar Basin in the North-West of the country where the government stands to gain $ 133.5…

Sri Lanka’s Headline inflation, as measured by the year-on-year (Y-o-Y) change in the National ConsumerPrice Index rose to a record high of 6.8 percent in July 2021 from 6.1 percent…

Indices at Colombo Stock Exchange (CSE) reached new heights yesterday making robust gains while turnover recorded a high at Rs.10.8 billion surpassing the earlier record set nearly seven months back…

Young people living in Sri Lanka are ranked at 61st riskiest globally to the impacts of climate change, threatening their health, education, and protection, according to a new UNICEF report…

(Reuters) – The Central Bank of Sri Lanka (CBSL) became the first in Asia on Thursday to raise interest rates since the pandemic began, as it acted to stem inflationary…

Stricter regulations relating to import delivery fees and import container deposit refunds have been announced by the Sri Lankan Director General of Merchant Shipping (DGMS). Under this new regime, the maximum…

166,284 Credit Cardholders in Sri Lanka were placed on the Credit Information Bureau’s (CRIB) blacklist with Rs.16 billion in arrears by the end of Q12021, CRIB data showed. Defaulted Credit…

Business sentiment among  Sri Lanka’s small and medium-sized enterprises (SMEs) remained pessimistic with an overall score of 36.3 out of 100, ‘SME pulse’ survey conducted by Sri [email protected] SME pulse computes…

UAE’s flagship airline Emirates confirmed yesterday that the suspension of inbound flights from Sri Lanka, India, Pakistan, and Bangladesh has been extended at least till August 7, 2021. The airline…

The Ceylon Chamber of Commerce (CCC) and the Accelerating Higher Education Expansion and Development (AHEAD) Operation will be jointly organizing a Virtual Exhibition to promote Agri and Livestock Sector Innovations…

Headline inflation based on the National Consumer Price Index remained unchanged at 6.1 percent in June1 due to the statistical effect of the high base prevailed in June 2020. Meanwhile,…

Sri Lanka’s regulator for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), the Financial Intelligence Unit (FIU) imposed financial penalties on Union Bank of Colombo PLC and DFCC Bank PLC…

Sri Lanka – Singapore Business Council (SLSBC) headed by leading venture capitalist Prajeeth Balasubramaniam is facilitating cooperation between Sri Lankan and Singaporean authorities to support the Central Bank of Sri Lanka…

Growth in large-scale solar capacity is expected to exceed wind growth next year for the first time, according to a new report from the U.S. Energy Information Administration. In its…

The Central Bank of Sri Lanka (CBSL) decided to hold key policy rates at their current levels despite concerns over rising inflation rates and possible inflationary pressures over the medium…

Sri Lanka’s diversified Conglomerate LOLC Holdings PLC has entered into MOU with Vancouver-based Ceylon Graphite Corp. to jointly develop at least three new graphite mines and to set up a…

The United States is providing a welcome boost to Small and Medium Enterprises (SME) in Sri Lanka struggling with the impact of the pandemic.  The U.S. International Development Finance Corporation…

The Ceylon Chamber of Commerce commends the efforts taken by the President, Ministry of Health, and other relevant authorities to accelerate the process of vaccinating the population of Sri Lanka…

In an effort to drive growth in the Digital Marketing industry, Sri Lanka’s foremost digital marketing experts have come together to launch the Digital Marketing Association of Sri Lanka (DMASL),…

The government has extended suspensions/restrictions on capital forex outflows (outward remittances) by six months with effect from the 2nd of July this year to preserve the country’s shrinking FX reserves.…

By Jeevethan Selvachandran Over the last few months, the world has watched India struggle through an unimaginable COVID-19 situation – over the first half of 2021, the pandemic’s second wave wreaked havoc…

The Ceylon Chamber of Commerce elected Vish Govindasamy as its Chairman during the Chamber’s 182nd Annual General Meeting on Tuesday (29). He succeeds Dr. Hans Wijayasuriya who completed his 2-Year Term as…

The Central Bank of Sri Lanka is expecting a $250 million boost from its dwindling foreign exchnage reservers from the Bangladesh Bank in July. “Inflows expected to the Central Bank…

Depending on the scale of production of vaccines, India is aiming to meet vaccine orders placed by Sri Lanka and other South Asian neighbors by July-end or August, The Print…

The United States is imposing a ban on the entry of dogs from Sri Lanka and several dozen other countries that have been identified as “high risk for importing dog…

The International Fund for Agricultural Development (IFAD) together with the Government of Sri Lanka last week signed a financial agreement to launch the Smallholder Agribusiness and Resilience Project (SARP). The…

Reuters: Asia Pacific investments in renewable energy generation by 2030 may double to $1.3 trillion from the previous decade, dwarfing fossil fuel power expenditures that are expected to drop by…

In an effort to support all players in the SME Eco-system, the Ceylon Chamber of Commerce has organized a National SME Forum in collaboration with public, private, and Non-Governmental sector…

The coronavirus crisis has indicated a major twist in the approaches utilized by the corporate work setting all around the globe. Instead of visiting the office regularly and engaging in…

The Sri Lanka Retailers’ Association (SLRA), the apex body for organized retail in Sri Lanka is requesting landlords, lessors, and business partners to reduce leases and rentals for the Association’s…

Sri Lanka’s mobile and fixed broadband speeds sharply deteriorated in May as the country reverted to Working From Home (WFH) with the unofficial lockdown coming into effect from late April.…

Consumers in Sri Lanka are set to benefit from a  new $5 million investment by International Finance Corporation (IFC) to Sunshine Consumer Lanka Ltd, a subsidiary of Sunshine Holdings PLC…

Gulam Chatoor the present Chairman of Saboor Chatoor (Private) Ltd, one of the leading spice exporters of Sri Lanka records nearly seven decades of piloting the company. To date, Gulam…

International Monetary Fund Managing Director Kristalina Georgieva made the following statement yesterday at the conclusion of her virtual participation in the G7 Leaders’ Summit: “I would like to thank Prime…

Rebeca Grynspan of Costa Rica will be the new Secretary-General of UNCTAD, the UN trade, and development body. Her nomination to the post by UN Secretary-General António Guterres was approved…

Sri Lanka’s gross official foreign exchange reserves tumbled to $ 4.02 billion at end of May from $4.5 billion a month ago as the country faces $3.5 billion external debt…

The International Air Transport Association (IATA) expresses frustration at the lack of coordination among governments worldwide for a data-driven risk-managed approach to re-establishing the freedom to travel while welcoming relaxation…

The 35-year-old Colombo Stock Exchange (CSE) set eyes to take a quantum leap – towards a much more comprehensive and multi-product securities exchange before 2025 in catching up with lost…

Sri Lanka is preparing to launch its first official Tourism ‘Travel App’ with the assistance of WorldBank and Asian Development Bank with a focus on enhancing the visitor experience and improving the…

The United States continues to stand with the people of Sri Lanka in the battle against the COVID-19 surge.  Yesterday, U.S. Embassy Charge d’Affaires Martin Kelly and Secretary to the…

The Public Utilities Commission of Sri Lanka (PUCSL), the electricity sector regulator, granted its approval for the 2nd Re-gasified Liquid Natural Gas-fired Combined Cycle power plant to be tendered to…

(UrduPoint News / Sputnik) The prospective plans for Russia to develop a nuclear power plant for Sri Lanka are not part of the agenda of this year’s St. Petersburg International Economic Forum (SPIEF), Sri Lankan State Minister of Money and…

The Ceylon Chamber of Commerce (CCC) recently entered into an MOU with Market Development Facility (MDF), Australia’s flagship private sector development program, to support the private sector in innovating to…

Fitch expects the new general special drawing rights (SDR) allocation to be approved by the IMF’s board of governors, likely in August. The move will raise foreign exchange reserves for…

By Professor Harsh V Pant Chinese Defence Minister Gen. Wei Fenghe was in Sri Lanka last week seeking to shore up support for Chinese projects at a time when new…

(CNN): The Upper Chamber of United States Congress, Senate last Thursday advanced bipartisan legislation that would counter China’s growing influence by investing over $200 billion in American technology, science, and…

RIL Properties PLC is progressing with negotiations with a potential investor to dispose of its entire stake in FoodBuzz (Private) Limited which owns franchise rights of BreadTalk in Sri Lanka. The…

Feeling the heat from intensifying competition from newcomers, John Keels Holdings (JKH) re-targets to open over 75  Keells branded supermarkets by early 2024. “The Retail sector has seen intensifying pressure…

AFP:Sri Lankan authorities Sunday said they will sue the owners of a Singapore-registered cargo carrier which has burned for 11 straight days off the island’s west coast and caused some…

Disclosure of procurement price of China’s Sinopharm vaccine in Sri Lanka has sparked a row after reports emerged that Colombo had to shell out a higher per-dose price than its…

In a first for Bangladesh, the country has extended a lifeline of sorts to the beleaguered Sri Lankan economy, offering to top up the island nation’s depleting foreign reserves by…

The Bangladesh Bank board on Sunday approved in principle a draft $200-million currency swap deal with Sri Lanka, which is struggling to maintain a moderate foreign exchange reserve. The currency…

World trade’s recovery from the COVID-19 crisis hit a record high in the first quarter of 2021, increasing by 10% year-over-year and 4% quarter-over-quarter, United Nations Conference on Trade and…

A United States (U.S.)-based international leader in Smart City solution provider, Viper Networks Inc along with its local partner Inc entered into three (3) separate contracts with Sri Lanka Telecom…

The Central bank of Sri Lanka (CBSL) is in the process of operationalizing an International Transactions Reporting System (ITRS) that will monitor both cross-border and foreign currency transactions in the…

Colombo-based Pro-market Think-Tank, Advocata Institute proposed five key areas for the consideration of Sri Lanka’s Members of Parliament (MPs) in order to maximize the economic benefits of China-backed Colombo Port…

It was a plot hatched in the utmost secrecy. After striking up a rapport over their shared interest in golf, Discovery chief executive David Zaslov and AT&T boss John Stankey…

A Sri Lankan-based leftist agrarian movement warned the government of possible influences by Indian and Chinese multinational corporations and financial institutions to do away with the recent decision to ban…

What may seem impossible to employees is common practice for multinationals: they shift their profits around the world until they no longer have to pay taxes on them. A global minimum tax…

The Chamber Academy of the Ceylon Chamber of Commerce together with ETIS Lanka recently concluded a short course in Business Economics.  The three-session course equipped participants with an alternative, more…

With support from the United States, the Attorney General’s Department inaugurated a state-of-the-art training center and launched an electronic system to track cases and legal files will, which strengthen the…

The Initial Public Offering (IPO) of 100,000 ordinary voting shares of Prime Lands Residencies (PLR) was oversubscribed on Colombo Stock Exchange (CSE) on its opening today (11th), triggering the company…

Virtusa Co-Founder and CEO Kris Canekeratne is setting down at- end of this June after growing the Global business consulting and IT outsourcing provider to $1.3 billion in revenue. Canekeratne along…

In line with the global shift in course towards dining from home, the Sri Lankan private consumption expenditure on dining out in restaurants and hotels experienced a steep decline whilst…

Despite much hype, Sri Lanka’s banking sector’s to Micro, Small and Medium-sized Enterprises (MSMEs) lending portofolio is one of the poorest in the Asia-Pacific region in terms of loan disbursements…

Typically, if you get a COVID-19 vaccine that requires two doses, you should get two of the same vaccine. Two Pfizer shots, or two Moderna shots. Not one and then…

Sri Lanka’s State-owned mobile telco operator, Mobitel extended its lead over Dialog Axiata in mobile network experience while Hutch emerge as the most improved mobile telco operator in Q42020. Holding…

by Col R Hariharan Chinese defence minister’s visit  The recently held Quad summit, which transformed an informal framework of the US, India, Japan, and Australia, into a formal grouping with…

The latest IPO entrant to Colombo Stock Exchange (CSE), Prime Lands Residencies (PLR) expects nearly Rs 10 billion cash flow over the next 24-36 months from its pre-sold apartments stock,…

The 5-star Jetwing Beach Hotel in Negombo today (3rd of May) started operations as an Intermediate Care Facility in partnering with Access Group’s Ninewells Hospital to offer world-class health & safety with…

(AFP) : Sri Lanka announced Friday that its economy shrank 3.6 percent last year due to the Covid-19 pandemic, making it the worst downturn since independence from Britain in 1948.…

Eyeing emerging Proptech Start-ups, Leading global commercial real estate services firm, Jones Lang LaSalle Incorporated (JLL)’s Sri Lankan unit joined the Sri Lanka Association for Software and Service Companies (SLASSCOM) which is…

(PTI): Singapore will stop the entry or transit to visitors with recent travel history to Bangladesh, Nepal, Pakistan and Sri Lanka from May 2 following “deterioration” of coronavirus situation in…

The Colombo Bourse today continued to play on a rollercoaster movement throughout the session reverting ASPI back to negative posture “The index spiked in the first few minutes and then…

The Former United States (US) Ambassador to the United Nations (UN) Samantha Power was confirmed by United States Senate as the nineteenth Administrator of the United States Agency for International…

The leading construction comoany, Maga Engineering Pvt. Ltd emerged as the top contractor in Asian Development Bank (ADB) funded projects in the country by securing contracts valued at a staggering…

Sri Lanka’s Gross Domestic Product (GDP) is projected to grow by 4.1% recovering from the Coronavirus crisis on an expansive budget and stronger global demand with a marked rebound expected…

By Winnie Wang Logistics carry dreams. Back in 2007, when I applied to graduate schools in the United States, nothing could beat the excitement of handing over my applications to FedEx,…

By United Nations Conference on Trade and Development (UNCTAD) When the Ever Given megaship blocked traffic in the Suez Canal for almost a week in March, it triggered a new…

U.S. Ambassador to Sri Lanka Alaina B. Teplitz announced the first grants awarded through the U.S. government’s Clean Cities, Blue Ocean program yesterday, totaling $345,000. These grants to Sri Lankan…

Dhamike Perera-controlled, Hayleys Fabric PLC (MGT) entered into an agreement with Ambeon Holdings PLC (GREG) yesterday (22nd April) to acquire the fourth largest fabric manufacturer in Sri Lanka South Asia Textiles…

Sri Lanka’s mobile internet speeds are yet to rebound to pre-pandemic levels while, while Fixed Broadband speeds improved in March surpassing the pre-pandemic levels, according to Ookla’s latest Speedtest Global…

Sweden-based multinational enterprise software firm, IFS today announces its promise to sustainability through a plan to improve the company’s own operations, enable customers to achieve their sustainability goals, as well as…

The International Air Transport Association (IATA) urged states to comply with recommendations on international travel from the World Health Organization’s International Health Regulations (2005) Emergency Committee on testing and risk management during…

The real estate industry needs to transform to serve the needs of people and cities in the next decade, according to a new report released today by the World Economic…

The Earnings of Colombo Stock Exchange (CSE) listed firms rose by 33% percent Year-on-Year (YoY) to Rs 88.6 billion in December quarter maintaining the growth momentum for the second straight…

The Angel Fund, an initiative of the Lankan Angel Network (LAN) has invested Rs. 10 million in Niftron, a blockchain-as-a-service (BaaS) platform that aims to make blockchain simpler and more…

The Lunana area of Bhutan is remote even by the standards of an isolated Himalayan kingdom: It covers an area about twice the size of New York City, borders far…

The Supreme Court today postponed further consideration of the petitions filed challenging the ‘controversial’ Colombo Port City Economic Commission Bill until 10 am tomorrow (20th). The Bill aims to provide…

(Reuters) – The European Commission backed on Tuesday a call from U.S. Treasury Secretary Janet Yellen for a global minimum corporate tax, but said its rate should be decided in…

The British multinational clothing, footwear, and home products retailer, NEXT agreed to recognize the newly formed branch of Free Trade Zones and General Services Employees Union (FTZ & GSEU) at its plant (Next Manufacturing (Pvt)…

Citing reputational risk from poor animal welfare practice, New Zealand is banning live exports of animals by sea. New Zealand’s Agriculture Minister Damien O’Connor on Wednesday announced the controversial practice…

By Malaka Rodrigo Earlier this month, more than 300 people gathered near the borders of the Dahaiyagala Wildlife  Sanctuary in Sri Lanka’s Uva province armed with axes, long knives, ropes and handheld…

Sri Lanka secured a US$500 million loan from China Monday (Apr 12) in a desperate bid to shore up its foreign exchange reserves as the local currency hit a record…

A high-level delegation from Sri Lanka headed by the State Minister of Money & Capital Market and State Enterprise Reforms H E Ajith Nivard Cabraal visited Lulu regional headquarters recently.…

India has finalized a bilateral air bubble arrangement with Sri Lanka for the operation of special international passenger flights between the two countries, the Civil Aviation Ministry said on Saturday.…

(AFP): The idea of forgiving debt held by poor countries in exchange for “green” investments gained ground this week during the spring meetings of the IMF and World Bank, with…

X-series: Nokia X20 and Nokia X10 – refined quality and experiences that you will love, with extra durability G-series: Nokia G20 and Nokia G10 – innovative features in a reassuringly secure package,…

The Department of Commerce’s Bureau of Industry and Security (BIS) has added seven Chinese supercomputing entities to the Entity List for conducting activities that are contrary to the national security…

 MolecuLight Inc., the leader in point-of-care fluorescence imaging for detection of wounds containing elevated bacterial loads Nanomedix (PVT) LTD as the specialized Distributor in Sri Lanka for its i:X fluorescence…

A major international project that will help reduce marine plastic litter from maritime transport and fishing sectors is up for a successful start, after getting 30 countries including Sri Lanka on board.…

The Monetary Board of the Central Bank of Sri Lanka (CBSL) decided to maintain the policy interest rates of the Bank at the current levels. “The Board observed the stronger…

The Monetary Board of the Central Bank of Sri Lanka (CBSL) is widely expected to hold policy rates steady in the upcoming Policy Review meeting, according to First Capital Research…

Sri Lanka’s President Gotabaya Rajapaksa has instructed to completely ban the importation of Palm Oil with immediate effect while ordering plantation firms to uproot Palm Oil Plants in a phased-out…

Food inflation has risen over the last year, although the overall inflation is low. According to the National Consumer Price Index, overall prices rose by 3.7% between January 2020 and…

(Reuters) – A federal judge on Thursday sided with Nike Inc in ordering a Brooklyn company to temporarily stop further sales of “Satan Shoes” it produced in collaboration with the…

By Savani Jayasooriya The refreshing taste of thambili, otherwise known as king coconut, is a preferred beverage for many Sri Lankans. Roadside stalls laden with thambili, like one owned by…

Sri Lanka recorded the World’s sixth most selfie-related accidents over the past decade, according to Inkifi. The country experienced six causalities from selfie-related accidents in the period and five of…

A top real-estate developer and the leader in the mid-market residential condo segment, Prime Lands Residencies Ltd plans a Rs 1.95 billion Initial Public Offering (IPO) in the Colombo Stock…

Softlogic Holdings PLC completed the transfer of all retail operations into one core vertical under Softlogic Retail Holdings (Pvt) under the restructure plan announced over two years ago. “Softlogic Retail…

The International Air Transport Association (IATA) today urged governments to accept best-in-class rapid antigen tests in fulfillment of COVID -19 testing requirements based on the latest research findings of OXERA…

(Reuters) – Visa Inc said on Monday it will allow the use of the cryptocurrency USD Coin to settle transactions on its payment network, the latest sign of growing acceptance…

The leading biscuit, chocolate, and confectionery manufacturer CBL Investments Limited (CBL Group) won the Best Corporate Citizen Award (BCCA) of Ceylon Chamber of Commerce (CCC) beating Commercial Bank of Ceylon…