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  • Mattala Airport’s 2021 expenditure 21 times more than its income – Auditor General

Mattala Airport’s 2021 expenditure 21 times more than its income – Auditor General

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.…

Sri Lanka’s tea production to fall to a 27-year low this year

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…

USAID Commences 5-Year Ocean Plastics Reduction Project in Sri Lanka and Maldives

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 Lanka banks open Special Vostro accounts with Indian Banks to trade in INR

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…

Inland Revenue (Amendment) Act comes into force from today

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…

CA Sri Lanka SME Task Force continues to uplift financial literacy among micro and small businesses

The SME Task Force of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) continued to play a catalyst role in uplifting the financial literacy among over 400…

Five Banks face financial penalties over non-compliance with AMT/CFT rules

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…

Debt-Service Payments Put Biggest Squeeze on Poor Countries Since 2000

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…

Government Considering acquiring underutilized land owned by Regional Plantation Companies

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…