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  • Regulations on the Colombo Port City’s duty-free shopping complex submitted for cabinet approval amid legal concerns

Regulations on the Colombo Port City’s duty-free shopping complex submitted for cabinet approval amid legal concerns

The Committee on Public Finance (COPF) informed the Secretary to the Ministry of the Investment Promotion to intervene with immediate effect to arrive at a decision regarding a duty-free shopping…

U.S. Embassy in Sri Lanka to Host Youth Forum Leadership Summit 2024: Empowering Young Leaders Across South Asia

The Youth Forum Leadership Summit 2024 organized by the U.S. Embassy in Sri Lanka will be held March 4 to 7 in Colombo.  The eagerly anticipated Youth Forum Leadership Summit is…

Russia is re-emerging in South Asia

By Aleksei Zakharov  Forced by the unprecedented isolation from the West, Russia has embarked on a course of outreach to the global South. South Asia is a region where Moscow…

Alibaba’s South Asian E-Commerce Giant Daraz Announces Layoffs in Memo

 Alibaba-owned e-commerce platform Daraz Group has announced layoffs across the group to “adopt a more streamlined and agile structure”, acting Chief Executive Officer James Dong said on Tuesday in an…

Workers’ Remittances Inflows Off to a steady start in January

Workers’ remittances inflows jumped  11.4 percent Year-on-Year (Yoy) to $487.6 million in January this year, slightly below US$ 570 million recorded in festive December last year and failing to cross…

Geopolitical Storm in Red Sea, Sri Lanka joins the US-led campaign to fight Houthis

By Asanga Abeyagoonasekera A perfect geopolitical storm is churning the waters in three geographies: the Black Sea due to the Ukraine war, the Red Sea due to the Houthis and…

Electoral uncertainty casts a shadow over Sri Lanka’s progress

By Prof.Neil DeVotta The Sri Lankan economy stabilised in 2023, with assisted recovery measures including an Extended Fund Facility Program with the International Monetary Fund and loans from the Asian…

CSE declining streak extended to 10 session

Once again, the Colombo Bourse closed in the red zone, with the blue-chip and banking counters dragging the index down for its 10th consecutive fall. The All Share Price Index…

IFC Appoints Imad N. Fakhoury as Regional Director for South Asia

IFC, a member of the World Bank Group, has appointed Imad N. Fakhoury as Regional Director for South Asia. Based in New Delhi, Fakhoury will spearhead IFC’s strategy and operations, while…

Sri Lanka inflation quickens for third month as economy rebounds

Sri Lanka’s inflation climbed in December for a third straight month as a rebound in economic activity boosted consumption. The consumer price index in Colombo rose 4 percent from a…