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

The Western province continued to lead the provincial gross domestic product (GDP) in 2023, albeit slipping from the 2022 levels while the North Western and Central provinces following as the distant second and third in the provincial distribution of

The confectionery industry expressed serious concerns over a new set of rules, introduced for labelling and advertising packaged food in the country, which is set to take effect from January 2025.

The government has reached an agreement with the International Monetary Fund (IMF) to raise the income tax-free threshold to Rs.150,000 per month, from the current Rs.100,000, a move aimed at providing relief to the lower-income groups.

Sri Lanka’s third quarter output expanded at a faster 5.5 percent in the third quarter ended in September 2024, compared to the same period last year.

Sri Lanka’s economic activities across both the manufacturing and services activities continued to expand during November.

Sri Lanka wrapped up its foreign currency debt restructuring last week with the announcement of the near full acceptance of the new bonds in exchange of the existing foreign currency bonds in default for over two years.

The private sector of Sri Lanka plays a prominent role in enabling corruption within the public sector of the country, a recent study conducted on corruption by Transparency International Sri Lanka (TISL) found.

Margins narrow on declining rates, but higher volumes from loans to support top-line 

Adani Ports noted that the project, which is a joint venture with John Keells Holdings (JKH) and the Sri Lanka Ports Authority (SLPA), would be financed through the company’s internal accruals and capital management plan.

Sri Lanka’s publishing industry yesterday raised serious concerns over the 18 percent Value Added Tax (VAT) imposed on books, which according to industry stakeholders has threatened the survival of the entire sector in the country.

Colombo Dockyard PLC is preparing for a major shift after Japan’s Onomichi Dockyard Company Limited, its majority shareholder, stepped away from the management this week, to allow the company to bring in a new strategic investor.

Sri Lanka has secured a place among the top ten countries demonstrating the most progress in combating money laundering and terrorist financing, as highlighted by the 13th Basel AML Index 2024.

Transaction will include business with revenues of around US $ 213mn (Rs.62bn) in CY 2023 and global ownership of Camso brand Camso brand will be permanently assigned to CEAT across categories after a 3-year licensing period

Sri Lanka’s Local Assembler’s Association, has raised concerns over the government’s decision to resume imports of completely built units (CBUs) from February next year.

The Sri Lanka Shippers’ Council claimed that the government coffers could be losing as much as two-thirds of potential border tax revenue, due to corrupt activities by the officials in key border agencies.

Sri Lanka’s merchandise export earnings in October 2024 climbed to US$ 1.097 billion, marking an 18.22 percent year-on-year increase, driven by higher earnings from key export categories, including apparel and textiles, tea, rubber-based products,

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.

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.

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.

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 Rese

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-poin

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.

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.

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 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.

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 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.

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).

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.