Boost for tourism with Shree Ramayan Trails launch

Sri Lanka’s tourism industry is anticipated to receive a boost from Indian pilgrims with the official launch of the Shree Ramayan Trails project.

Embracing the rhythm of tradition and spirit of compassion!

International and local visitors can experience the fiery tradition and compassionate spirit as Sri Lanka unveils ‘Rhythms of Sri Lanka,’....

Locals to hold back gold purchases as prices surge: SLGJA

Sri Lanka will see consumers hold back gold purchases as prices of the precious metal continue to expand globally....

Sri Lanka needs national MSME policy backed by innovative bureaucracy

Sri Lanka needs a national micro, small and medium-scale enterprises (MSME) policy backed by an innovative bureaucracy...

Lanka IOC PLC 4Q revenue up 9.3% YoY

Setting the stage for a busy earnings season in the coming weeks, Lanka IOC PLC (LIOC) last week reported higher....

Special programme needed to rebuild MSMEs amid parate execution halt: Sajith Premadasa

Opposition Leader Sajith Premadasa yesterday called on the government to develop a targeted programme to assist....

Five-year National AI Strategy to be unveiled in May

Sri Lanka is set to unveil a five-year National Artificial Intelligence (AI) Strategy in May to drive innovation, economic....

Maldivian expresses keenness in strengthening Colombo route

Maldivian, the national airline of the Maldives, is looking to strengthen its Colombo route, with the introduction of two weekly...

SriLankan Airlines announces flight path modification to European destinations

National carrier SriLankan Airlines announced over the weekends that it is modifying its flight paths for the European...

French Ambassador on a familiarisation tour at HIP

Ambassador for France in Sri Lanka Jean-Francois Pactet visited the Hambantota International Port (HIP) recently, for a tour....

Trade facilitation … who exactly are we fooling?

Since the year 1997, I have been involved in a countless number of committees of national trade facilitation. The company....

Dubai airport: Full schedule resumes after flooding chaos

Dubai’s major airlines say they have resumed a full flight schedule after torrential rain hit the United Arab Emirates....

DFCC Junior with Thyaga.lk debuts e-gift vouchers

DFCC Junior - the exciting children’s savings account from DFCC Bank – recently launched e-gift vouchers as part of its benefits scheme....

ComBank Digital links Commerce Dept. for online payments with LankaPay

Commercial Bank of Ceylon announced the integration of the Commerce Department with ComBank Digital, enabling....

Seylan Cards-British Council offer 0% instalment plans

Seylan Cards reaffirms its dedication to empowering customers through education by announcing its partnership with the British....

Amana Bank marks World Water Day with Colombo University

To mark the World Water Day, Amana Bank partnered with the Environment Committee of the Faculty of Arts at the University....

People’s Bank opens Poththapitiya Service Centre ATM

People’s Bank recently declared open an ATM at the Poththapitiya Service Centre. Through this ATM, the customers can withdraw ....

Jailed bankers ruling could hit key loan rate, warn founders

The founders of a key European interest rate benchmark have said its accuracy could be affected as a result of a “deep misunderstanding”....

NDB Bank achieves EDGE certification again

National Development Bank PLC (NDB), a leading financial institution committed to promoting gender equality and diversity, announced....

Market lending rate falls to two-year low as economy readies to take off

The often watched market lending rate, which guides the rest of the rates on loans to small businesses to mortgages to consumers, touched a two-year low last week continuing its descent.

Gold prices surge to all-time high

Gold prices across the globe are surging at all-time high prices amid escalating geopolitical tensions in the Middle East.

IMF gives thumbs up for SL’s progress but cautions road ahead still difficult

The International Monetary Fund (IMF) this week commended Sri Lanka for going forward and being successful to a great extent to implement the “ambitious” programme; however, it cautioned that the road ahead is till bumpy. IMF Director Asia and Pacific Department Krishna Srinivasan asserted that the programme is bearing fruit. When Sri Lanka embarked on this adjustment programme, it had its back to the wall but now signs of early recovery are see

Global Sovereign Debt Roundtable advances debt sustainability discussions

The Global Sovereign Debt Roundtable (GSDR) this week brought together debtor countries and creditors to build greater common understanding among the key stakeholders on debt sustainability and debt restructuring challenges and ways to address them. While the meeting reviewed progress on the work to improve debt restructuring processes and timelines, it helped address debt vulnerabilities. Participants also discussed priority areas for the work g

Asia-Pacific to grow 4.5% in 2024: IMF

The International Monetary Fund (IMF) projects the Asia and Pacific region to grow by 4.5 percent in 2024—an upward revision of 0.3 percentage points from the projection given in October 2023. With this, Asia would contribute about 60 percent of global growth and the region is projected to grow by 4.3 percent in 2025. While the drivers depend on the country, in China and India, the investments are to contribute disproportionately to growth—much o

Sri Lanka to pay US $ 308mn in surcharges to IMF over next decade

Sri Lanka is to pay US $ 308 million in surcharges to the International Monetary Fund (IMF) over the next decade (2024-2033), in constituting to 15.8 percent of the total “charges and interests” over the period, according to the United States-based think tank Centre for Economic and Policy Research (CEPR). Over the period, Sri Lanka’s total charges and interests payments to the IMF stand at US $ 1.94 billion. Sri Lanka joined the list of 22 heavi

Colombo Tea Auction sees 5 MnKgs on offer this week

A total of 5.0 million kilogrammes was on offer this week at the Colombo Tea Auction, which was met with good general demand. The leafy teas were often firm and easier. The Small Leaf liquoring types – Better teas, continued to sell well, whilst the others were often irregular, Forbes and Walker Tea Brokers said. The Ex-Estate offerings were marginally lower to last and totalled 0.7 million kilogrammes. The overall quality of teas, though lower

Oil price rises as US says Israel has struck Iran

BBC: Oil and gold prices have jumped after US officials said an Israeli missile had struck Iran. Brent crude, the international benchmark, rose to over US $ 90 a barrel after reports emerged of an attack by Israel, before falling back when Iran sought to downplay the significance. Gold briefly came close to a record high before settling below US $ 2,400 an ounce. There are concerns a worsening conflict in the Middle East could disrupt oil supplie

Janashakthi Life records highest ever PBT of Rs.5.2bn

Posts 186% growth from last financial year Janashakthi Life recorded a profit before tax of Rs.5.2 billion, along with a growth of 201 percent in profit after tax compared to 2022. This achievement is the highest in the entire history of Janashakthi Life. It underscores the company’s robust financial health and strategic proficiency in navigating market challenges, the entity said in a statement. The key financial indicators, such as a capital

Daintee celebrates four decades of sweet success

Daintee, the confectionary arm of Sunshine Consumer Lanka Limited (SCL), recently marked its 40th anniversary, highlighting four decades of excellence in crafting delicious sweets and confectionery delights for millions of Sri Lankans. The grand celebration, which took place on April 1, 2024, was graced by Sunshine Holdings Deputy Chairman Vish Govindasamy, Sunshine Consumer Lanka Chief Executive Officer Anuruddha Aluvihare, the senior managemen

SL’s goal to attract 2.5 mn high-end tourists unrealistic: Intrepid Tarvel Co-Founder

The world’s largest adventure travel company and the largest travel B Corp, Intrepid Travel Chairman and its Co-Founder Darrell Wade casted doubts on Sri Lanka’s 10-year tourism strategy to attract 2.5 million high-end tourists, expressing concerns on the lack of a sustainable programmed focused on such travellers. Wade recently visited Sri Lanka to reaffirm Intrepid’s commitment to Sri Lanka within its 2030 strategy. Intrepid plans to foster gr