The Labour Ministry seeks proposals to amend key laws and regulations on child labour, with a view to eliminate child labour from Sri Lanka.

Sri Lanka’s large banks, which hold the highest amount of foreign currency denominated government securities, have the most exposure to the sovereign credit risk and thereby the risk of deterioration in their credit profiles, according to Fitch Rat

Union Assurance PLC offered vital medical equipment to four government hospitals as part of an initiative launched in response to combat the COVID-19 pandemic

In a bid to support the expansion plans of local firms outside of Sri Lanka, the Cabinet of Ministers this week decided to relax the foreign exchange controls to allow local firms to raise foreign funds via foreign currency-denominated equity listing

The banking sector credit growth could start to pick up from the second half of this year (2H21) after a setback in the 2Q21 due to lockdown-like restrictions, which crippled most business and consumer activity for over two months, according to Acuit

Central Bank Governor Prof. W.D. Lakshman in a fairly detailed statement issued yesterday dismissed the repeated concerns raised by certain quarters of an imminent external sector crisis brewing in the country, often citing weaker external reserves,

Consumers can now buy protection online with a state-of-the-art buying experience. Clicklife by Union Assurance is a digital life insurance product which can be purchased under five minute

Bank credit to the private sector continued in May, although losing momentum from the recent high in March, indicating that loan disbursements had continued despite a semi-dormant economy due to COVID-19 related lockdowns during the month.

With an extensive vaccination drive and easing travel restrictions, Sri Lanka’s economy has started to show signs of a positive outlook. The World Bank forecasts a 4 percent growth in GDP in 2021.

Sri Lanka is preparing itself for a trade relationship sans GSP Plus with the European Union (EU), said Finance State Minister Ajith Nivard Cabraal, after the European Parliament recently adopted a resolution urging the EU Commission to withhold the

Despite the pandemic-related travel restrictions, Sri Lanka’s merchandise exports remained resilient in May, as exports recovered by 10.7 percent month-on-month (MoM) to US $ 884.2 million in the month from a five-month low in April, due to the ini

Sri Lanka stands to lose US$ 700 million in its trade surplus with the European Union (EU), if the EU decides to move ahead to halt the GSP Plus scheme to the country.

The Securities and Exchange Commission of Sri Lanka (SEC) and Colombo Stock Exchange (CSE) are gearing to introduce a Delivery vs Payment (DVP) system for stock market transactions.

Sri Lanka’s income inequality further worsened last year as the poorest suffered the largest proportionate earnings shock, while the smallest proportionate income losses were suffered by the rich due to mobility restrictions imposed to contain the

Fitch Ratings expects Sri Lanka’s government to meet its remaining external debt maturities for the rest of the year, including a US $ 1 billion International Sovereign Bond (ISB) maturing in July, with the partial easing off external liquidity pre

The Cabinet nod has been received to commence negotiations for a preferential trade agreement (PTA) with Bangladesh to bolster trade flows between the two countries.

The continuous COVID-19-related restrictions are making the government’s low tax regime completely useless, as the consumer and producer prices have surged significantly, adding a much higher tax on people than a true legislated tax imposed on them

The Ceylon Motor Traders Association (CMTA) has expressed its concerns on the government’s decision to import 400 vehicles—including 227 luxury SUVs–to a value of Rs. 3.7 billion through the Bank of Ceylon.

The World Bank’s Board of Executive Directors has approved US $ 40 million in additional financing for Sri Lanka to expand water supply, sanitation and hygiene services in seven districts through the Water Supply and Sanitation Improvement Project

The government is likely to end up with a blowout in the fiscal gap this year with the deficit potentially reaching double digits amid slowing tax income due to COVID-19 related restrictions and heightened expenditure on virus control and welfare spe

The Central Bank this week extended relief to the borrowers of finance and leasing companies, nearly two weeks after it decided to give relief to the borrowers of the banking sector, as the economic fallout of the extended lockdowns are reaching disp

The government yesterday asserted it would explore all possible opportunities to reach its ambitious development targets, while taking a cautionary approach with regard to foreign borrowings when realising its growth agenda.

The Government of Sri Lanka yesterday went all out to lure investors by showcasing a series of unique selling propositions while making a number of pledges, which included the affirmation of attractive and sustainable returns to those who are willing

Appetite of local banks to facilitate the corporate sector with new loan facilities to reprice their existing debt stocks to long-term fixed-rated loans under the current low-interest rate regime is waning amid concerns over interest rate risks and t

A number of programmes are being planned to expedite the production of organic fertiliser required for the Maha season, a media communiqué from the President’s Media Division this week said.

The government is planning to list the country’s expressways and related assets via a State-owned business entity in the Colombo Stock Exchange (CSE) similar to Selendiva Investments Limited, which was established to hold key State-owned real estat

The pandemic-related restrictions have pushed over 500,000 people in Sri Lanka into the depths of poverty in 2020 alone, while the disastrous implications of the most recent round of controls on people’s lives and livelihoods are yet to be assessed

Despite the government’s recent success in securing funding from multilateral or bilateral partners to build up the country’s foreign exchange reserves, S&P Global Ratings this week warned that such credit lines and budgetary assistance alone may

Globally diversified financial conglomerate LOLC Group posted a record-breaking performance for the financial year ending on March 31, 2021, achieving unprecedented Rs.57 billion in profit before tax (PBT) and a profit after tax (PAT) of Rs.53 billio

In what appears to be the beginning of a spell of poor economic readings, the credit consumed by the private sector lost momentum in April, largely due to virus related restrictions and partly to New Year holidays.