PUSCL seeks public input on electricity tariff revision

The Public Utilities Commission of Sri Lanka (PUCSL) has has called for public opinions regarding the revision of the 2nd round of electricity tariff reductions, proposed by the Ceylon Electricity Board (CEB) for 2024.

FIU and bribery commission sign MoU to combat finance crimes

In a collaborative effort to prevent financial crimes in the country, the Financial Intelligence Unit (FIU) of Sri Lanka entered into a Memorandum of Understanding (MoU) with the Commission to Investigate Allegations of Bribery or Corruption (CIABOC), today.

IMF approval paves way for stronger policies, sustainable growth: Semasinghe

The approval of the IMF’s second review for Sri Lanka will pave the way for stronger policies and sustainable growth, said State Minister of Finance Shehan Semasinghe.

IMF allows authorities to draw US$ 336 mn following second review completion

The Intentional Monetary Fund (IMF) announced the completion of the second review under the 48-month Extended Fund Facility (EFF) Arrangement, allowing the Sri Lanka to draw SDR 254 million (about US$336 million).

Sri Lanka to kick off relevant negotiations for FTA with Malaysia

Sri Lanka will be able to further strengthen its ties with Malaysia, with the Cabinet of Ministers this week giving the nod to commence the negotiations for a free trade agreement (FTA) between the two countries.

Optimistic about favourable IMF review outcome: Semasinghe

Sri Lanka is optimistic about a favourable outcome from the International Monetary Fund’s (IMF) second review, under the Extended Fund Facility (EFF), State Minister of Finance Shehan Semasinghe said.

Expolanka Holdings announces 'final extension’ to exit offer

Expolanka Holdings announced its decisions to extend the exit offer till 4.30pm on Thursday, 13 June 2024.

United Petroleum Australia to begin Sri Lanka operations by August

United Petroleum Australia, which has entered Sri Lanka’s petroleum retail market, will start their operations by the end of July or beginning of August this year, taking over 150 existing fuel stations and building over 50 new stations, Director of United Petroleum Lanka Private Limited in Sri Lanka Dr. Prabhat Samarasinghe said.

Constitutionality of Economic Transformation Bill challenged in SC

A Special Determination petition has been filed in the Supreme Court challenging the constitutionality of the Economic Transformation Bill, which was recently published in the Government Gazette.

Sri Lankan High Commission opens center to promote FDI’s in UK

The Sri Lankan High Commission in the United Kingdom has set up a center in its premises to promote direct foreign investments (FDI’s) into Sri Lanka.

Laugfs gas prices reduced

Laugfs Gas PLC today announced a substantial reduction in the prices of its Laugfs-branded domestic liquefied petroleum gas (LPG), effective midnight.

LP gas prices to be reduced by Rs.150 from tonight

It has been decided to reduce the retail price of a 12.5 kg cylinder of Litro domestic LP gas by Rs. 150 with effect from midnight today, Litro Gas Chairman Muditha Peiris said today.

Cement prices drop by Rs.150

The maximum retail price of a 50 kg bag of cement has been reduced by Rs. 150 with effect from June 1, a cement company said.

World Bank discusses energy transition for Sri Lanka in high-level roundtable

The World Bank organized a high-level roundtable discussion on advancing energy transitions in Sri Lanka, yesterday.

CBSL keeps policy interest rates unchanged

The Monetary Policy Board of the Central Bank of Sri Lanka has decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) at their current levels of 8.50 percent and 9.50 percent, respectively.

Chongqing Airlines resumes flights from June 24

Chongqing Airlines will resume operations between Chongqing, China and Colombo from June 24, the Airport and Aviation Services (Sri Lanka) (Private) Limited (AASL) said.

New liquor licenses based on population and tourist arrivals

New liquor licenses are awarded only on the basis of factors such as the population of the country and the arrival of tourists, Finance State Minister Ranjith Siyambalapitiya said.

CB has enough dollars to prevent rising dollar value

The value of the US dollar and the Sri Lanka Rupee is determined by the supply and demand. If the value of the dollar rises significantly, the Central Bank of Sri Lanka (CBSL) has sufficient dollars to control it, Finance State Minister Ranjith Siambalapitiya said.

Colombo Stock Exchange adopts two 1990 Suwa Seriya Ambulances

The Colombo Stock Exchange (CSE) has adopted two ambulances in a bid to support the 1990 Suwa Seriya Foundation’s ‘Adopt an Ambulance’ project.

Orion Developments signs US $ 1.78 Million agreement with BOI

Orion Development has signed US $ 1.78 million agreement with the Board of Investment (BOI) for the expansion of its IT Park, Orion City.

Central Bank joins chorus urging need to uphold reform momentum

Sri Lanka is facing mounting pressure to maintain its current reform momentum, as experts continue to warn that any deviation from the path could potentially derail the country’s progress and plunge it back into crisis.

No import of vehicles expected in near future - Vehicle Importers Association

While denouncing the false rumours regarding imminent vehicle importation, the Vehicle Importers Association of Sri Lanka (VIASL) clarified that no vehicles, including lightweight vehicles, will be imported within the current year or before the election.

Government planning four-stage vehicle import resumption

Following discussions with vehicle importers, the government is focused on resuming vehicle imports in four stages, Finance State Minister Ranjith Siyambalapitiya said.

Emirates reaffirms strategic cooperation with SLTPB

Underscoring Emirates’ commitment to boost tourism inflows across its network, the airline has reaffirmed its strategic cooperation with Sri Lanka Tourism Promotion Bureau.

Browns becomes world’s top tea exporter with Lipton partnership

Sri Lanka’s Browns emerges as the world’s top tea exporter, following a partnership agreement with Lipton Teas and Infusions.

Gross official reserves surpass US$ 5bn mark

Sri Lanka’s gross official reserves have continued to increase through the end of April topping the US$ 5.0 billion level for the first time since December 2020 when the country was coming out of the second wave of the virus outbreak.

EQT to acquire WSO2

Open source technology provider WSO2 announced on Friday that it has signed a definitive agreement to be acquired by EQT.

Tourist arrivals miss 200,000 mark in April

Sri Lanka tourism witnessed a drop in momentum in April with the number of international visitors falling below the 200,000....

Tourist arrivals could drop below two million this year amidst Visa fiasco: Stakeholders

Tourism Industry veterans cautioned that heightened confusion over the new visa system, along with the abrupt increase in visa fees, could derail 2.3 million tourist arrival target set for the year. This could potentially reduce arrivals below 2 million, while service providers stand to gain $50 million in fees.

Sri Lankan rupee has become one of fastest growing currencies in the world: Siyambalapitiya

The Sri Lankan rupee has now become one of the fastest-growing currencies in the world, Finance State Minister Ranjith Siyambalapitiya said.