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.

Colombo consumer prices fall deeper into deflation on cuts to fuel prices

Inflation in the Colombo district fell further into deflationary territory in November, as expected by the Central Bank last week, as non-food prices fell sharply while food prices decelerated from a month ago.

THASL urges rethink of policies to unlock full potential of Sri Lanka’s tourism sector

Sri Lanka’s tourism sector is in need of a robust set of policy, to allow it to unleash its full potential, The Hotels Association of Sri Lanka (THASL) said while asserting that the same old models on books may not work.

September quarter sees blowout corporate earnings

The listed companies reported some robust top and bottom-lines in the three months through September 2024 supported by cooler prices and lower interest rates which helped them to bring back more customers and stretch their margins, Capital Trust Research said.

CB shifts to single policy rate while effectively cutting rate by 50bps

While shifting towards a single policy interest rate structure, the Central Bank yesterday introduced what it calls the overnight policy rate (OPR) as its primary monetary policy tool and set it at 8.00 percent, effectively delivering a 50-basis-point cut in the monetary policy, as it targets the call money rate often used in the interbank market, which closed at 8.55 percent the day before.

SL launches ISB exchange following cabinet approval

Sri Lanka yesterday reached a significant milestone in its debt restructuring agenda with the official launch of the exchange of its outstanding International Sovereign Bonds (ISBs), totalling approximately US$12.55 billion as of November 25, 2024.

“Perfect timing” for sovereign sukuk, say alternative banking experts in Sri Lanka

Sri Lanka’s alternative banking sector experts yesterday expressed they are highly optimistic about the country issuing its first-ever sovereign sukuk, under the new government.

Government agrees to stay within main ‘guardrails’ of IMF programme: Senior Mission Chief

The Sri Lankan government has reached an agreement with the International Monetary Fund (IMF) to proceed with its US$ 3 billion Extended Fund Facility (EFF) programme, consenting to adjustments while adhering to the programme’s main “guardrails.”

Sri Lanka elected to UN Commission on International Trade Law

Sri Lanka was among thirty one (31) members elected to the United Nations Commission on International Trade Law (UNCITRAL) by the UN General Assembly, the Ministry of Foreign Affairs said.

National consumer prices continue to decline by 0.7% in October on lower fuel prices

Consumer prices measured by the National Consumer Prices Index fell further into negative territory in October after the index tipped into deflation in September due to repeatedly cutenergy prices.

President Dissanayake outlines three-pronged economic strategy

President Anura Kumara Dissanayake yesterday outlined a three-pronged economic strategy aimed at fostering rapid growth, inclusive participation, and equitable wealth distribution to stabilise the country’s economy.

SL targets US $ 36bn in annual exports by 2029

The government has set its sights on an ambitious annual export revenue target of US $ 36 billion to be achieved by 2029, according to the Export Development Board (EDB).

Strategic branding key to SL’s success in India’s wedding market: Vandana Mohan

Access to information and strategic branding are pivotal for Sri Lanka to emerge as a premier wedding destination for Indians, according to Vandana Mohan, India’s first female event manager and founder of the Wedding Design Company.

Data consumption surges 11% despite decline in fixed broadband subscriptions: CAL

Sri Lanka witnessed an 11 percent increase in data consumption in the first nine months of this year, despite the decline in fixed broadband subscriptions, according to Capital Alliance (CAL) Research.

Strong mandate is positive, says Standard Chartered Global Research

Standard Chartered Global Research, the research arm of Standard Chartered views the National People’s Power (NPP) coalition’s sweeping victory in Sri Lanka’s parliamentary elections as a positive development, presenting a rare opportunity to undertake long-overdue structural reforms and advance fiscal consolidation.

Plantation stocks surge amid favourable market conditions

Majority of Sri Lanka’s plantation companies have witnessed a significant upturn in stock prices from October onwards, driven by a combination of favourable global market trends, strong sector fundamentals and overall investor sentiment.

Sri Lanka’s rupee to remain on a ‘very comfortable terrain’ in coming years: SLBA

Sri Lanka’s rupee is projected to remain on a ‘very comfortable terrain’ in the coming years, with the gross foreign exchange reserves standing to top the US $ 12 billion mark before the capital repayments to the creditors begin in 2029, according to a top banker.

BOI to facilitate risk mitigation to SAARC members through dedicated industrial parks

With an aim to boost FDI flows into the country while fostering inter-regional trade among SAARC nations, Sri Lanka’s Board of Investment (BOI) is exploring the creation of country-specific industrial parks tailored to the needs of SAARC nations.

Policy consistency crucial to boost SL’s apparel exports to US $ 8bn in 2025- JAAF

Policy consistency is key to achieving US $ 8 billion in apparel exports next year, up from an estimated US $ 5 billion in 2024, according to the Joint Apparel Association Forum (JAAF).

Tourism leaders urge singular approach to double Sri Lanka’s visitor numbers

As Sri Lanka stands on the cusp of a potential tourism boom, industry leaders are calling for a unified approach to drive demand for the destination while preserving its unique, authentic edge over competing markets.

Excessive taxation could undermine economic equity, warns legal expert

President’s Counsel Dr. Shivaji Felix raised critical concerns about Sri Lanka’s Inland Revenue practices, suggesting they may place undue burdens on the taxpayers, without delivering equivalent benefits.

India’s HRV Global Life Sciences sets sights on Sri Lanka

India-based HRV Global Life Sciences and New Horizon Global Pharma is exploring possible expansion into Sri Lanka, which is emerging as a strategic growth market in South Asia.

Hemas Holdings achieves growth despite revenue decline

Hemas Holdings PLC reported strong profitability for the six months ended September 30, 2024, despite facing a challenging market environment characterised by cautious consumer spending and competitive pressure in key sectors.

John Keells Holdings maintains growth momentum with strong 2Q25 performance

Premier blue chip John Keells Holdings (JKH) sustained growth momentum in the second quarter of 2024/25, with strong performances across its core businesses, despite challenges in the leisure sector.

ADB optimistic about reforms but warns of limited room to manoeuvre

The Asian Development Bank (ADB) said that it remains optimistic about the continuity of the reforms in Sri Lanka but warns that there is very little room to manoeuvre as the country seeks a sustainable recovery.

SL well-positioned to attract 2.9 mn tourists

Following the expected under-performance in the tourism sector this year, Sri Lanka’s tourism is poised to reach new heights with tourist arrivals projected to reach 2.9 million generating US$ 5.4 billion income.

Sweden urges SL to push up contributions to its food industry

Sweden has expressed a strong interest in expanding business collaborations with Sri Lanka, specifically to increase Sri Lanka’s contributions to its fast-growing food industry, the Export Development Board (EDB) said.

Sri Lanka and Pakistan poised to lead Asian Frontier Markets in 2025

Sri Lanka along with Pakistan is poised to lead South Asian frontier markets with strong performances extending current market rally to next year amidst continuous progress in both economic and political reforms and prevailing low valuations, much anticipated recovery in earnings and possibility of a greater political stability, according to AFC Asia Frontier Fund.

Price drops continue to cool Colombo inflation in October

Inflation in Sri Lanka’s Colombo district fell further in October, marking the third consecutive month of easing, with both food and non-food prices declining amid the improved supply conditions and reduced administrative costs, according to the data from the Census and Statistics Department.

Exports decline in September despite apparel, services growth

Sri Lanka’s export earnings for September 2024 fell by 3.49 percent to US$ 937.95 million compared to a year earlier, with weaker demand for tea, rubber products, electronics, and seafood weighing on performance, according to data released by Sri Lanka Customs.