Ocean freight rates set to spike after Iran seizes container ship
Maritime industry experts are projecting a surge in freight rates and insurance charges—known as war risk premiums—following the move by Iranian military forces on Saturday to seize a commercial container ship…
New Partnership to Foster Climate Resilience in Sri Lanka as IFC Emphasize Support for the Nation’s Development Agenda
o bolster growth and combat climate change, the International Finance Corporation (IFC) and Citizens Development Business Finance PLC (CDB)—a leading non-banking financial institution in Sri Lanka—are partnering to enhance CDB’s…
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…
Colombo Bourse records the largest gain in a month
Colombo Bourse settled firmly in the green zone trading positively throughout the day, continuing its upward trend for the third consecutive day, recording the biggest gain in the past month.…
National Budget 2024: A Framework for National Development – Pragmatic Implementation and Timely Execution Will be Key – Ceylon Chamber
The Ceylon Chamber of Commerce considers the 2024 Budget as a crucial step in continuingthe macroeconomic stabilization measures that began in late 2022, as a response to theeconomic challenges faced…
Ceylon Chamber Urges Government to Reconsider SVAT Abolition amidst concerns on adverse impact on export sector
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…
COLOMBO PORT CITY RECEIVED APPROVAL FOR
BUSINESSES OF STRATEGIC IMPORTANCE
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…
Sri Lanka’s Central Bank Cut SRR by 2 %
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…