(Reuters) – Sri Lanka’s consumer price inflation rate eased to 2.1% year-on-year in August from 4.6% in July, helped by falling food prices, the statistics department said on Thursday. The…

The Ceylon Chamber of Commerce is urging the Government to reconsider its recent decision to abolish the Simplified Value Added Tax (SVAT) system given the impact it would have on…

The Colombo Port City Economic Commission has achieved a significant milestone in its journey, to transform the Colombo Port City into a globally competitive special economic zone (SEZ). The Parliament…

The plastics and rubber products market expected to grow to $1899.33 billion in 2027 at a CAGR of 6.7% with new developments in packaging and innovation Sri Lanka’s Advancement circular…

The Committee on Public Finance (COPOF) questioned the officials representing the Ministry of Finance regarding the action taken to recover the loss incurred by the Sugar Tax Scam in Sri…

The Ceylon Chamber of Commerce entered a strategic partnership with renowned implementationservice provider Pristine Solutions Pvt Ltd, to revolutionize its operations and bring cutting-edgetechnology to the forefront with the implementation…

Threadworks, a leading innovator in baby products, is thrilled to announce the successful launch of its ground-breaking product line – Bamboo Nappies – in Australia. Designed to provide parents with…

In a bid to increase market liquidity, the Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 8 August 2023, decided to reduce the Statutory…

Sri Lanka Agripreneurs’ Forum (SLAF), the leading agribusiness association in Sri Lanka, and I/D/E/A/S(Initiatives in Development of Entrepreneur Approaches & Strategies), a group of retired Sri Lankanprofessionals dedicated to giving…

Indian High Commissioner handed over a cheque of 450 million for the Sri Lanka Unique Digital Identity (SL-UDI) Project.  High Commission of India in Colombo, Sri Lanka twitted, “High Commissioner…

The low-Cost Airliner (LCA) will operate scheduled direct flights to Colombo, qualifying itself with the Sri Lanka Civil Aviation technical and operational requirements and meeting with international safety standards, Passenger…

Minister of State in the Cabinet Office of Japan, FUJIMARU Satoshi, and, former Minister of State for Regional Revitalization and Regulatory ReformYAMAMOTO Kozo, called on President Ranil Wickremesinghe at the Presidential…

The expansion in the Illegal cigarettes market driven by recent tax hikes is causing a record Rs. 52 billion revenue loss to the Government, According to the ongoing research conducted…

Sri Lanka had verifiably met 33 of the trackable program commitments of the International Monetary Fund (IMF) program as of the end of June 2023 but had failed eight, according to…

The Kaduwela Municipal Council opened the first of four Plastic Recycling Centers at 567/3, Yashodara Mawatha, Dedigamuwa as a pilot to improve standards in plastic waste collection and apply environment,…

The Ceylon Chamber of Commerce in a media statement expressed concerns on the recent developments in the healthcare sector, particularly regarding the quality of pharmaceutical products procured for the public…

Although there are 500,000 personal income tax files in this country, only 31,000 of them are paying tax, Mahindananda Aluthgamage, Chair of the Sectoral Oversight Committee on National Economic and…

Sri Lanka is approaching the final stage of unveiling its debt restructuring strategy, marking a significant milestone in the nation’s efforts to navigate its worst economic crisis in seven decades.…

Sectoral Oversight Committee on Environment, Natural Resources & Sustainable Development disclosed that 23 projects initiated by the Urban Development Authority (UDA) by spending government funds have come to a halt…

(Reuters) – The World Bank is likely to approve $700 million in budgetary and welfare support for Sri Lanka at its next board meeting on June 28, sources told Reuters,…

Two partnerships by the International Finance Corporation (IFC) has led to over 50 private sector companies in Sri Lanka advancing gender equality as well as working towards the economic inclusion…

The representatives of the gem and jewellery industry recently highlighted that due to the ban on the import of gold, the business community involved in the jewellery manufacturing industry, targeting…

First Capital Research (FCR) predicts a 50% probability for the Central Bank of Sri Lanka (CBSL) to maintain the policy rates at its current levels at this week’s monetary policy…

Crisis-stricken Sri Lanka should be able to conclude newly-launched debt restructuring talks by September, or November at the latest, its president said on Thursday, adding that the negotiations had made…

An International Monetary Fund (IMF) mission led by Messrs. Peter Breuer and Masahiro Nozaki conducted a staff visit to Colombo from May 11 to 23, 2023 to discuss recent economic…

The Colombo Bourse wrapped the session up in red as its main index, All Share Price Index (ASPI) commenced the week on a negative note losing 105 points and hitting…

Wan Hai Lines has added a call at Colombo, Sri Lanka, to its Asia-US East Coast service. On 16 May, the newly built 13,000 teu Wan Hai A10 docked at…

By Muhammad Estiak Hussain Bangladesh and Sri Lanka are two friendly neighbors from South Asia. Although the formal diplomatic relations were established in 1972, the relationship goes beyond that dating…

Cash-strapped Sri Lanka’s national airline announced a staggering $525 million annual loss on Friday. Despite posting an operating profit of Rs. 1.7 billion in FY22 for the first time in…

Bourse extended dull sentiment, down marginally as investors continued to remain on the sidelines over rising concerns over Domestic Debt Restructuring (DDR) and waiting for a clear direction on the…

The Committee on Public Accounts (COPA) disclosed that almost 33% of the families receiving the Samurdhi benefit are families who should not be entitled to the Samurdhi benefit. According to…

Leading luxury Tour Operator Kuoni has pledged to drive bookings to Sri Lanka by holding its first overseas sales managers’ conference since pre-pandemic 2019 in the country. Sri Lanka has long…

Women working in Sri Lanka’s energy sector gained a powerful tool this week to promote their advancement in the industry with the launch of the Sri Lanka National Chapter of…

December (2022) quarter earnings declined by 43.9%YoY to Rs.96.4 billion for 281 listed companies on Colombo Stock Exchange (CSE) owing to sluggish performance primarily in the Capital Goods (-82.6%YoY), Transportation…

The United States Agency for International Development (USAID) Sri Lanka Energy Program and Sling Mobility (Pvt.) Ltd. signed a grant agreement on April 18 to develop and operate two battery…

(Reuters) – A combination of sticky high interest rates and lacklustre global growth could push a number of emerging economies that are facing soaring refinancing needs into debt difficulties next…

In terms of the outlook for 2023 and in particular the first half of 2023, export firms have turned more optimistic in their views on the economy relative to six…

Central Bank of Sri Lanka (CBSL) printed Rs.77 05 billion in the first quarter of this year compared to a record Rs.588 billion a year ago. Money printing in March…

Asian Development Bank in a latest report projected Sri Lanka’s inflation to average 24.6% in 2023 as fiscal tightening and double-digit interest rates weigh on domestic demand, supply-side disruption eases,…

Since Sri Lanka’s worst economic crisis in Mar 2022, the share prices of nearly 55% of thehotels listed in Colombo Stock Exchange (CSE) have risen on a Year-on-Year basis, according…

The global economy’s “speed limit”—the maximum long-term rate at which it can grow without sparking inflation—is set to slump to a three-decade low by 2030. An ambitious policy push is…

Seven parties including China’s Sinopec have shown interest to build an export-oriented oil refinery in Hambantota, Minister of Power and Energy Kanchana Wijesekera tweeted. Grant & Shearer Ltd from Nigeria,…

 (Reuters) – Sri Lanka will get the first $330 million tranche of the International Monetary Fund’s bailout in the next two days, the global lender said on Tuesday, putting the…

Select Committee of Parliament to make suitable recommendations for the expansion of higher education opportunities in Sri Lanka met recently on March 8th, 9th and 10th under the chairmanship (Dr.)…

Sri Lanka’s private creditors are considering a proposal to swap defaulted bonds with new securities with cash flow linked to the nation’s future growth, Bloomberg News reported on Monday, citing people familiar…

To help meet demand for quality childcare services among employed parents in the Eastern Province of Sri Lanka, the International Finance Corporation (IFC), Commercial Bank of Ceylon (CBC) and Sarvodaya…

(Reuters) – U.S. bank stocks jumped on Tuesday, recovering some ground after the failure of Silicon Valley Bank and Signature Bank triggered heavy selling by investors who were already anxious…

Fitch Ratings believes Sri Lanka is likely to secure financing support from the IMF after the fund’s Executive Board set a date of 20 March to review the USD2.9 billion…

 Minister of Foreign Affairs Ali Sabry express confidence in securing the IMF bailout package within this month since considerable progress has been made with the International Monetary Fund. Speaking to…

Colombo Bourse closed in green after two days of losses as buying sentiment slightly improved on index-heavy weights and banking counters, but retail participation continued to remain subdued with investors being…

The global pace of reforms toward equal treatment of women under the law has slumped to a 20-year low, constituting a potential impediment to economic growth at a critical time…

The All Share Price Index (ASPI) of the Colombo Stock Exchange (CSE) extended the positive sentiment for the fourth consecutive day as investors continued to actively participate in the market.…

With Australian companies increasingly eager to explore investment opportunities in Sri Lanka, tradeand investment promotion and facilitation activities can play a vital role in fast-tracking foreign directinvestment, High Commissioner for…

 The COVID-19 pandemic caused a massive collapse in human capital at critical moments in the life cycle, derailing development for millions of children and young people in low- and middle-income…

Global professional services association PrimeGlobal has in recent months welcomed two new member firms in Asia: Pengsheng in China, and Ranwatta & Co in Sri Lanka. Headquartered in Southern China…

Sri Lanka’s tourism earning rose by 6.7% Year-on-Year to $161.8 million in January this year compared to $151.7 million recorded a year ago, according to the Central Bank of Sri…

The Hyundai Grand i10 car, assembled for the first time in Sri Lanka was launched at the Colombo City Centre yesterday (10) under the patronage of President Ranil Wickremesinghe. The…

A discussion pertaining to the concept paper related to the proposed establishment of the National Policy Commission for the purpose of planning, implementing, monitoring and reviewing national policies and strategies…

Sri Lanka has recently awarded the American Clean Energy Solutions Inc. based in Ontario,Canada to develop 100 Megawatts solar power project on Sri Lanka Broadcasting Corporation (SLBC) land in Nilaweli,…

 A group of Sri Lanka’s sovereign USD-denominated Bondholders of is ready to hold debt restructuring negotiations with Sri Lankan authorities consistent with the International Monetary Fund’s (IMF) program. “The Bondholder…

The deficit in the trade account in 2022 narrowed to the lowest level since 2010 to $ 5,185 million, from $8,139 million recorded in 2021. Earnings from exports in 2022…

Arabnews:Sri Lanka’s tea industry is planning a global promotional campaign targeting its main export destinations, including the UAE and Saudi Arabia, as the crisis-hit country looks to attract additional foreign…

Several new proposals were proposed by the Committee on Public Accounts (COPA) to make the work of the Inland Revenue Department more efficient including proper implementation of the Revenue Administration…

The Ministry of Health has today received walk-in cold rooms and nutrition supplies procured by UNICEF funded by the Government of Japan to continue to improve the health of all…

Fitch Ratings has downgraded the National Insurer Financial Strength (IFS) Ratings of seven Sri Lankan insurers following the recent sovereign downgrade and recalibration of the agency’s Sri Lankan National Rating…

When dealing with raising the value of Sri Lanka’s ease of doing business index, there should be an inter-relationship between related government institutions, Madhura Withanage said. He made these remarks…

Sri Lanka Tourism, in collaboration with the Sri Lanka Embassy in Italy, as one of its promotional activities carried out a Media FAM Tour to a group of Italian journalists…

Bangladesh and Sri Lanka are keen to start importing ethanol from India. Nitin Gadkari, India’s Minister of Road and Transport Highways announced that the issue has already been discussed with…

Sri Lanka’s central bank Governor P. Nandalal Weerasinghe in an interview with BBC Newsnight urged China and India to act quickly for the country to secure a $2.9 billion IMF…

(Reuters) – Sri Lanka’s cabinet on Monday approved new electricity tariffs to reflect the cost of coal and power generation to take effect this month, Power Minister Kanchana Wijesekera said,…

Officials representing the 8 Presidential Task Forces established under the Presidential Secretariat to enhance the Ease of Doing Business in Sri Lanka recently presented the issues and proposals to the…

Sri Lanka’s Auditor General reported that in 2021, the operational expenditure of the Mattala International Airport (MRIA) was Rs2.02 billion, 21 times more than its income for the same period.…

As a result of bad policy combined with adverse climatic conditions, Ceylon tea production was adversely impacted and annual volumes are estimated to be approximately 250-255 M/Kgs would record the…

The United States Agency for International Development (USAID) announced the official launch of a planned 5-year project in Sri Lanka and Maldives to reduce environmental plastics by decreasing the industrial…

Sri Lankan banks opened special rupee trading accounts (SRVA) with Indian banks including the largest Indian Bank, State Bank of India (SBI) to conduct bilateral trade in Indian Rupees following…

Speaker Mahinda Yapa Abeywardena today (19) endorsed the certificate on the Inland Revenue (Amendment) Bill which was passed by a majority of votes after debate in Parliament. Following the debate…

Sri Lanka’s s regulator for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Financial Intelligence Unit (FIU)fined five banks for non-compliance with the provisions of the e Financial Transactions…

The poorest countries eligible to borrow from the World Bank’s International Development Association (IDA) now spend over a tenth of their export revenues to service their long-term public and publicly…

Minister of Plantation and Industries Ramesh Pathirana stated that attention has been directed towards taking over underutilized land owned by large-scale plantation companies and the proposal regarding the said has…

The Sri Lanka Embassy in Beijing, with a view to attracting more Chinese tourists to Sri Lanka, is also actively exploring the possibility of Chinese cruise ships and yachts visiting Sri Lanka. The…

By Shashika Bandara and Inosha Alwis Sri Lanka is facing a severe political and economic crisis, and the health system is at risk of collapse. The crisis has been caused by…

(Reuters) – Sri Lanka’s central bank on Thursday threatened administrative intervention to control high market interest rates that it regarded as out of line with its policy rates and the…

The Ceylon Chamber of Commerce (CCC) is firmly of the view that institutions such as the Central Bank of Sri Lanka should be allowed to function independently in performing its…

The Ministerial Consultative Committee on investment Promotion advised the Board of Investment of Sri Lanka (BOI) to clearly communicate to the Central Bank of Sri Lanka (CBSL) and the Treasury…

(Reuters) – The crisis-hit Sri Lankan economy can turn around by the end of 2023 if budget policies,which are not limited to the International Monetary Fund’s recommendations, are followed,President Ranil…

The National Council sub-committee on identifying short and medium-term programs related to National Policy which met yesterday (10th of November) decided to appoint a sub-committee made up of representatives of…

The progression of Sri Lanka’s economy is dependent significantly on the performance of the public sector. A more efficient and productive public sector is an absolute need in driving forward…

More than 90 percent of large companies that have stated commitments to reaching net-zero emissions will miss such goals at their current pace, according to a new report. Among 2,000…

Sri Lanka faces a challenge to emerge from the continuing crisis. A recent publication by VERITÉ Research argues that domestic debt restructuring (DDR) provides four benefits critical for the economy…

Calling on Sri Lankan businesses to leverage the resumption of direct flights to Moscow to diversify theexport basket, the Charge d’Affaires of the Embassy of the Russian Federation in Sri…

As Sri Lanka prepares to formulate and implement reforms that will enable economic revival, theSri Lanka Economic Summit 2022 organized by the Ceylon Chamber of Commerce will explorenecessary reforms and…

The Central Bank of SRI Lanka held policy rates steady on Thursday (Oct 6), saying monetary conditions remain “sufficiently tight” after a massive rate-hike campaign earlier in the year as…

The Petroleum Products (Special Provisions) Amendment Bill was approved by the Ministerial Consultative Committee on Power and Energy with amendments in accordance with the decisions given by the Supreme Court.…

First Capital Research (FCR) weighed in on a 75 percent probability to maintain the rates while also assigning a lower probability of 25 percent towards a monetary relaxation. “We believe…

Emphasizing the need to create a more business-friendly environment for foreign investorsseeking investment opportunities in Sri Lanka, Ambassador of the United States to Sri LankaHer Excellency Julie Chung hailed the…

The latest report by World Food Program (WFP) warns that overall acute food insecurity continues to remain a concern as the majority of people are still forced to cut meals…

As the country’s agriculture sector starts to recover, Sri Lanka Agripreneurs’ Forum (SLAF) held its 2nd Annual General Meeting on 31st August 2022 at the Institution of Engineers Sri Lanka,…

The World Bank (WB) has commenced the industry consultation process to develop an offshore Wind Development Roadmap for Sri Lanka. By 2030, installed offshore Wind generation capacity is estimated to…

The impacts of workplace violence and harassment has led to the loss of six working days per employee every year, costing the nine Sri Lankan companies surveyed at least $1.7…

Sri Lanka has lost a large chunk of its tax base due to significant changes in its tax system made in 2020 including the increase in VAT registration threshold on…

Minister of Labour and Foreign Employment Manusha Nanayakkara last week announced that all plantation workers would be given a special allowance under the World Food Program (WFP) and World Bank…

The 31 st Annual General Meeting of the Sri Lanka – Canada Business Council (SLCBC) of the CeylonChamber of Commerce was held recently. Daniel Bood, Counsellor for Political & Trade…

An International Monetary Fund (IMF) mission led by Peter Breuer and Masahiro Nozaki visited Colombo from August 24 to September 1, 2022, to continue discussions on IMF support for Sri…

The Ceylon Chamber of Commerce views the interim budget for 2022 delivered by President RanilWickremesinghe in his capacity as Minister of Finance, as a positive step towards rebuilding themacroeconomic framework…

Digital transformation and innovation that sees opportunity in turbulence in order to attainresilience and growth, were among key themes that were explored at the National SME Forum2022 organised recently by…

The recently released Q2 data of the House Price Index of LankaPropertyWeb showed that the overall selling prices of apartments increased by 45.17% when compared to Q2 of 2021. According…

An IMF Staff delegation led by Peter Breuer and Masahiro Nozaki plans to visit Colombo during August 24-31 to continue discussions with the Sri Lankan authorities on economic and financial…

The U.S. government, through its development agency, the U.S. Agency for International Development (USAID), is committed to accelerating clean energy to drive social and economic sustainable growth in Sri Lanka. …

The Central Bank of Sri Lanka (CBSL), with a view to broadening its engagement with key stakeholders of the economy, established the Stakeholder Engagement Committee (SEC) by replacing the Monetary…

(Reuters) – Sri Lanka has given approval for India’s Lanka Indian Oil Corporation (LIOC) to open 50 new fuel stations, a company official said on Monday, as part of efforts…

The Government yesterday appointed eight-member committee to propose recommendations within a month to restructure Ceylon Electricity Board (CEB), the Minister of Power and Energy Kanchana Wijesekera announced. The eight members…

As the war in Ukraine continues to rage, skyrocketing energy prices are compounding an existential cost-of-living crisis for hundreds of millions of people, warned the UN Secretary-General’s Global Crisis Response Group (GCRG)…

TUI has further extennded the cancellation of holidays to Sri Lanka. The operator’s program is being suspended for an extra week until August 22th. Tui started holiday cancellations to Sri…

Sri Lankans have been urged not to overcrowd fuel stations in the country as the fuel distribution process for vehicles as per the QR code system which was delayed earlier,…

Sri Lanka’s economic crisis and lack of fuel has resulted in airlines cutting capacity to the country and embargoing inbound cargo. The lack of passengers and fuel, which airlines have…

Asain Development Bank (ADB) highlighted that Sri Lanka’s economic conditions have deteriorated drastically on a sharp fall in usable reserves, causing the government to suspend external public debt servicing (excluding…

China is a “very important” creditor of Sri Lanka and it would likely be in the interest of both countries if China participated in restructuring Sri Lanka’s debt, U.S. Treasury…

Colombo bourse recorded gains for the second straight session with faint improvement in investor sentiment over recent political developments in the country with the affirmed resignation of President Gotabaya Rajapaksa,…

The ongoing turmoil and fuel shortage in Sri Lanka have boosted aviation turbine fuel (ATF) sales in South Indian airports including Adani Group-managed Thiruvananthapuram Airport, Cochin Airport and Chennai Airport, according to…

The Ceylon Chamber of Commerce reiterates its call for President Gotabaya Rajapakse to resign immediately for the sake of the country and its stability as he has lost the trust…

Sri Lanka’s John Keells Holdings (JKH) is expected to benefit from the proposal to streamline the country’s casino industry which could pave the way for JKH to rent space at…

The Committee on Public Enterprises (COPE) chaired by Prof Charitha Herath recommended an investigation be conducted through the Auditor General’s Department on the cancellation of the Term Tender, which had been…

Bourse recorded losses for the fourth straight session with investors taking a defensive approach following the policy rate hike by the Central Bank of Sri Lanka (CBSL), First Capital Research…

Ahead of the protest scheduled on Saturday this week, the Ceylon Chamber of Commerce (CCC) appealed the participants to refrain from violence. Ceylon Chamber of Commerce notes that a number…

The United States Ambassador to Sri Lanka, Julie Chung last Friday stressed that the political stability is critical to undertake lasting and decisive structural reforms in addressing the root causes…

By Ravinda Soysa All states currently rely substantially on petroleum based fuels for power generation, transportation and agricultural activities. The fact that only a few countries generate the majority of…

The UN Conference on Trade and Development (UNCTAD) says the war in the Ukraine is stifling trade and logistics of the country and the Black Sea region, increasing global vessel…

At the G7 Summit today, President of the United States Joe Biden announced $20 million in additional assistance to strengthen food security in Sri Lanka.  Building on other recent funding…

A high-level delegation representing the U.S. Department of the Treasury and the U.S. Department of State will visit Sri Lanka from June 26 – 29.  Members of the delegation include…

The Committee on Public Accounts (COPA) recommended that all Ministries should unite and set up a Cabinet Sub-Committee on Food Security to address the food crisis in the country. The…

 Sri Lanka Excise Department revealed that t the demand for the liquor has decreased by about 30% due to the recent increase in the price of liquor and the decrease…

Top Businessman Dhammika Perera was sworn in as a National List Member of Parliament of the Sri Lanka Podujana Peramuna before Hon. Mahinda Yapa Abeywardana, the Speaker of Parliament today…

The U.S. government announced a third tranche of new funding today to address the immediate needs of people hardest hit by the economic crisis in Sri Lanka.  This humanitarian assistance,…

The World Food Programme (WFP) on Thursday began distributing food vouchers to pregnant women in underserved districts of the Sri Lankan capital, Colombo, marking the start of the UN agency’s…

In continuing its support to promote sustainable energy and economic growth in Sri Lanka., United States yesterday agreed to provide technical assistance to VEGA Innovations to help them further develop Sri…

In the face of the current food crisis, the Minister of Agriculture and Minister of Wildlife and Forest Resources Conservation, Mahinda Amaraweera announced that plans are underway to deploy Army…

The U.S. Ambassador to Sri Lanka Julie Chung attended the signing ceremony for a Memorandum of Understanding (MOU) with the Sri Lankan Department of Agriculture, for a $27 million project…

Top Businessman Dhammika Perera is set to enter the Parliament replacing Basil Rajapakse and is tipped to swear in as the Minister of Technology and Investment Promotion. President Gotabaya Rajapaksa…

The Supplementary Estimate of Rs. 695 billion presented by Prime Minister Ranil Wickremesinghe in his capacity as the Minister of Finance, was approved yesterday (08) in Parliament without a vote…

(Reuters) – A power sector union in Sri Lanka said on Wednesday it will go on an indefinite strike from midnight in protest against new government legislation, potentially leading to…

Sri Lanka requires $6 billion during the next six months to keep the country afloat, according to Prime Minister Ranil Wickremesinghe. Over half of the requirements is for fuel and…

The Ceylon Chamber of Commerce has been certified as a great workplace by research andconsulting firm Great Place to Work® in Sri Lanka. The Ceylon Chamber was awarded this certification…

There are constant dire warnings of impending food shortages citing many causes and blames onpast actions. While it is useful and wise to be forewarned, the warnings alone will not…

The debate on the Supplementary Estimate of Rs. 695 billion which is to be presented on the 7th by the Prime Minister, Ranil Wickremesinghe will be taken up for debate…

Sri Lanka wants farmers to plant more rice as part of plans to avert a severe food shortage, a top official said on Tuesday (May 31), as experts warned of…

(Reuters): Sri Lanka’s government on Tuesday announced a taxation overhaul to maximise revenue amid the country’s crippling economic crisis, hiking value added taxes and corporate income tax, and slashing the…

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,…