A consortium led by renewable energy player WindForce PLC is set to undertake Sri Lanka’s largest private sector renewable energy project.

The first review of Sri Lanka’s US $ 3 billion Extended Fund Facility (EFF) from the International Monetary Fund (IMF) will be held between September 14 and 27.

China slipped into deflation for the first time in more than two years in July, official data showed Wednesday, as slowing domestic spending weighs on the post-Covid economic recovery.

The Monetary Board of the Central Bank has decided to reduce the Statutory Reserve Ratio (SRR)—the portion of deposit liabilities commercial banks are required to keep as cash deposits with the Central Bank— by 200 basis points, from 4 percent to

Pakistan plans to privatise its loss-making national carrier Pakistan International Airlines, the government said this week, as the country also seeks to outsource its airport operations in line with an IMF deal.

Uma Oya hydro-electricity project could be commissioned in the latter part of this year, Prime Minister Dinesh Gunawardena was informed today by the Iranian Ambassador in Colombo. Hashem Ashjazadeh.

Sri Lanka recorded 143, 039 tourist arrivals for July, the highest monthly arrivals recorded so far this year, the data released by Sri Lanka Tourism Development Authority said.

In an effort to bring fresh focus to Sri Lanka’s mineral resource industry, stakeholders of the sector today launched the Chamber of Mineral Exporters (CME) as a collaborative initiative.

The headline inflation in Colombo district as measured by the Colombo Consumer Price Index (CCPI) reached single-digit levels to 6.3 percent in July, easing from 12 percent in June.

The government has relaxed certain limitations on outward remittances for capital transactions and removed restrictions on current transfers of emigrants with the current and expected developments in the domestic foreign exchange market.

Sr Lanka has signed financing agreements to secure a grant of EUR 9.8 million from the World Bank, European Union (EU)and Française de Développement (AFD) to strengthen the country’s management of public finances.

The European Commission has proposed a four-year extension to the current GSP+ scheme until 31 Dec 2027, so that countries, such as Sri Lanka, do not lose their preferential access in the interim.

Financial assets are unlikely to come under the proposed wealth tax, which is set to come into effect in 2025, due to practical difficulties and complex nature in administration and tax collection, according to a top tax expert.

India’s HCL Technologies (HCL), a leading global technology company, which already has a strong presence in Sri Lanka, is exploring....

Sri Lanka and Nepal are currently exploring the possibility of having an exchange of high-level visits and business delegations, in an effort to firm up ties between the two countries, Minister of Foreign Affairs Ali Sabry said.

Fitch Ratings has revised the Outlook on Ceylon Electricity Board (CEB) to Positive from Stable while affirming its rating at (B)lka.

The assessment of 968,000 appeals and 17,500 objections received for ‘Aswesuma’ will kick off, the Ministry of Finance announced today.

The Monetary Board of the Central Bank has decided not to renew the money-changing permits of 15 money changers (MCs) for the year 2023 due to non-compliance with a condition of the permits issued for the year 2022, which was communicated to the resp

The Monetary Board of the Central Bank this morning announced a 200-basis point reduction in policy rates after slashing 250 basis points at the previous monetary policy review in June.

Sri Lanka today saw the launch of two energy sector publications, supported by the Asian Development Bank (ADB), which map the journey of the local electricity supply industry.

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) today said the decision to exclude the country’s banking sector from the Domestic Debt Optimisation (DDO) plan will result in lower interest rates.

Sri Lanka’s official headline inflation as measured by the Colombo Consumer Price Index (CCPI) on a year-on-year (YoY) basis eases to 12 percent in June, largely on higher base effects, last year.

Pakistan, which is flirting with a debt default, has secured a staff-level agreement with the International Monetary Fund (IMF) for a US $ 3 billion stand-by arrangement, foreign media reported.

The Ceylon Chamber of Commerce (CCC) urges all political parties and stakeholders concerned to act with responsibility and await the finalization of the proposed debt restructuring plan.

Nuseir Yassin, an Arab-Israeli vlogger who creates content under the ‘Nas Daily’ banner, is expected to create three videos to promote Sri Lanka for tourism and investment.

For the first time in history, two of the world’s leading travel & tourism organisations representing the global public and private sectors have agreed to work together across a number of key objectives.

SriLankan Airlines today said the flight UL 470 to Seoul was delayed due to one cockpit crew member, who was scheduled for this flight, falling sick.

National inflation as measured by National Consumer Price Index (NCPI) eased to 22.1 percent in May on a year-on-year (YoY) basis from 33.6 percent in April.

Sri Lanka will be able to improve trading with the United Kingdom as the new Developing Countries Trading Scheme (DCTS) comes into force from today. Sri Lanka is among the 65 countries that would benefit from the new facility.

Ride-sharing app Uber announced yesterday the launch of the popular membership programme Uber One in Sri Lanka.