SL exits ’Restricted Default’ rating

Fitch Ratings has upgraded Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ’CCC+’, from ’RD’ (Restricted Default).

SriLankan airlines hosts agents’ tour to Gan island

The SriLankan Airlines Mumbai team, in collaboration with the airline’s Maldives team and Canareef Resort, recently hosted a successful agents’ educational tour to the stunning Gan Island in the Maldives.

First Capital crowned as Brand of the Year at SLIM Brand Excellence 2024

First Capital was recognised as the Brand of the Year at the SLIM Brand Excellence Awards 2024.

Bitcoin surges past $100k for first time

The price of Bitcoin has for the first time broken past the $100,000 mark, hitting a new record high.

USAID, CBL group to boost SL’s coconut industry

CBL Global Foods Limited (CBL GFL), a subsidiary of the CBL Group, in partnership with the United States Agency for International Development (USAID) this week released a practical handbook to improve coconut farming practices in Sri Lanka.

CG Corp Global bets big on SL’s recovery and growth

Chaudhary Group (CG) Corp Global, a Nepal-based multinational conglomerate, reaffirmed its commitment to Sri Lanka yesterday, pledging to remain invested in the long term while identifying opportunities to expand further.

Supreme Court dismisses fundamental rights applications filed against LTL Holdings IPO

The Supreme Court of Sri Lanka has dismissed three fundamental rights applications, Nos. 198/2024, 254/2024 and 263/2024, which challenged the opening of the initial public offering (IPO) of LTL Holdings Limited on the Colombo Stock Exchange.

CBSL further eases monetary policy stance

The Monetary Policy Board of the Central Bank of Sri Lanka, at its meeting held on 26 November 2024, decided to further ease the monetary policy stance and set the newly introduced Overnight Policy Rate (OPR) at 8.00 per cent.

CBSL’s single policy interest rate mechanism comes into effect today

The Central Bank of Sri Lanka announced it has decided to implement a single policy interest rate mechanism transitioning from its dual policy interest rate mechanism, effective from 27 November 2024.

Sri Lanka Economic Summit in January 2025

The 24th edition of the Sri Lanka Economic Summit, organised by the Ceylon Chamber of Commerce, will take place on January 28 and 29, at Shangri La Hotel, Colombo.

Industries Ministry public day re-launched after four years

The Public Day of the Industries Ministry was re-launched this morning after four years by the Minister of Industry and Entrepreneurship Development, Sunil Handunnetti.

Third review approved by IMF, SL to get next US$ 333 million tranche

The International Monetary Fund (IMF) reached a staff level agreement with Sri Lankan authorities, paving the way for the next tranche, for US$ 333 million, of the four-year Extended Fund Facility.

Niloufer Esufally-Anverally Makes a Stylish Comeback with the Launch of NLFR

The Sri Lankan fashion industry is abuzz with excitement as Niloufer former Founder and Managing Director of Cotton Collection, returns to the spotlight with the launch of her new brand, NLFR. Set to debut on Thursday, November 21, 2024, NLFR promises to be a celebration of life’s passions and the enduring vision of an entrepreneur who has never stayed away from the creative world for too long.

Global Entrepreneurship Week 2024 kicks off across all 25 districts

Sri Lanka officially kickstarted the Global Entrepreneurship Week (GEW) for 2024, yesterday under the theme ‘Entrepreneurship is for Everyone’ at a launch event held at the Ceylon Chamber of Commerce in Colombo.

Fonterra to proceed with sale process for Consumer businesses

Fonterra Co-operative Group Ltd has provided an update on its work to explore potential divestment options for its global Consumer business, as well as integrated businesses Fonterra Oceania and Fonterra Sri Lanka.

BOI signs US$ 12.16mn deal with Celogen Lanka

The Board of Investment (BOI) of Sri Lanka has partnered in a US$ 12.16 million agreement with Celogen Lanka, a prominent local pharmaceutical manufacturer to support its research and development (R&D) initiatives.

Nissan to lay off thousands of workers as sales drop

Nissan has said it will lay off thousands of workers as it slashes global production to tackle a drop in sales in China and the US.

EU Ambassador meets new BOI Chief to discuss economic ties

The European Union (EU) Ambassador to Sri Lanka, Carmen Moreno recently held discussions with the newly appointed Chairman of the Board of Investment (BOI) Arjuna Herath along with BOI Director General Renuka M. Weerakone.

SLCERT warns WhatsApp users against sharing OTPs to prevent hacking

The Sri Lanka Computer Emergency Readiness Team (SLCERT) warned WhatsApp users today not to share any one-time password (OTP) with third parties, as their accounts are at risk of being hacked.

IMF review for Sri Lanka delayed

The next review of the International Monetary Fund (IMF) will be delayed, the Central Bank confirmed on Friday.

Canada issues travel advisory over serious risk in Arugam Bay

The Canadian government has issued a travel advisory urging travellers to exercise a high degree of caution in Sri Lanka due to demonstrations, the threat of terrorist attacks and crime, particularly in the Arugam Bay area.

More countries issue travel advisories

Several countries have issued travel advisories for their citizens travelling to Sri Lanka, urging a high degree of caution.

Sri Lanka Tourism invites global travellers for upcoming season

Sri Lanka Tourism warmly invites travellers from around the world to visit the island during the upcoming tourist season.

Russian embassy urges citizens to stay vigilant in Arugam Bay

The Russian Embassy has urged its citizens to remain vigilant and avoid large crowds in response to potential threats against foreign tourists in Arugam Bay.

US Embassy issues travel warning for Arugam Bay

The US Embassy in Colombo said it has received credible information on a potential attack targeting popular tourist locations in the Arugam Bay area. As a precaution, the Embassy has imposed an immediate travel restriction on its personnel to Arugam Bay until further notice.

India-Sri Lanka ferry service operates smoothly

The passenger ferry service between Nagapattinam in India and Kankesanthurai (KKS) near Jaffna in Sri Lanka’s Northern Province is currently operating smoothly, IndSri Ferry Service Pvt. Ltd Managing Director, S. Niranjan Nandagopan said.

Economic recovery to boost finance and leasing companies in FY25: Fitch Ratings

Sri Lanka’s finance and leasing companies (FLCs) are set to benefit from the country’s economic recovery, moderating inflation and lower interest rates, Fitch Ratings said in a recent report, projecting improved performance for the financial year ending March 2025 (FY25).

Tourist arrivals surpass 63,000 in first half of October

Sri Lanka welcomed 63,491 tourists in the first half of October, in continuing with the slowdown in tourist arrivals, ahead of the winter season, the Sri Lanka Tourism Development Authority (SLTDA) data showed.

EDB gets new chief

The Export Development Board (EDB) has a new chief to drive it forward with Mangala Wijesinghe appointed as its Chairman and CEO.

Colombo welcomes Cinnamon Life

Cinnamon Life at City of Dreams Sri Lanka, the highly anticipated luxury development by John Keells Group (JKH), opens its doors today for a soft launch, marking a historic moment in Colombo’s evolving skyline.