Watawala Plantations to acquire cattle fodder growing firm Moragoda Agro Services for Rs.88.5 million
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 accelerates at alarming levels in February
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…
U.S. Under Secretary of State for Political Affairs Victoria Nuland Travels to Colombo for Bilateral Talks
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…
In cash-strapped Sri Lanka, two men die waiting in queue for fuel
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…
Business earnings to take a hit from Sri Lana’s rising inflation levels
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 Distilleries increases liquor Prices
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…
Sri Lanka to setup SEZs in Galle, Bandarawela, Ratnapura,Thimbirigasyaya, Fort, Pettah and Kollupitiya
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…
U.S. Marks Two Cultural Preservation Milestones in Sri Lanka with a $265,000 grant
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,…
Sri Lanka finance minister meets top IMF official amid economic crisis
(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 Central Bank Removes interest rate caps on forex deposits
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…