The Colombo Port City (CPC) project is estimated to add a mammoth US$ 30 billion in fresh economic output to Sri Lanka’s gross domestic product through 2041, propelling the country towards the developed country club, according to a study by Pricewa

Sri Lanka’s producers are beginning to feel higher cost of production, potentially activating what could be a vicious cycle of higher producer prices,

State Minister of Money & Capital Markets and State Enterprise Reforms, Ajith Nivard Cabraal expects Sri Lankan rupee to stabilise at Rs.175-Rs.180 range against US dollar by end of this year, supported by anticipated boost from proposed increase in

While dismissing claims on Colombo Port City (CPC) is on the verge of becoming a Chinese colony and concerns on potential money laundering activities, Money and Capital Markets and State Enterprise Reforms State Minister Ajith Nivard Cabraal defended

The Central Bank has extended the suspension on banks from purchasing Sri Lanka-issued international sovereign bonds (SLISBs) till April 23 in a bid to ward off the pressure on the rupee.

The prime lending rate touched a fresh low last week after the Monetary Board said it would maintain the current accommodative monetary policy, reaffirming markets that low interest rates are required to further support the current revival seen in th

The key stakeholders of the local tourism industry yesterday slammed the Sri Lanka Tourism Development Authority (SLTDA) for pushing the drafting of a new Tourism Act, without consulting the private sector.

The Monetary Board of the Central Bank yesterday left policy interest rates unchanged at current levels as the economy appears have responded positively to earlier measures taken to provide extraordinary support to individuals and businesses beset by

The government expects the legislation of the Colombo Port City Economic Commission Bill to be completed before end of this month, which will declare Colombo Port City (CPC) as a Special Economic Zone (SEZ), while granting sweeping powers to the prop

Sri Lanka’s oil palm growers seek clarity on the announced plan to uproot their cultivations, while cautioning such a policy reversal, which drastically undermines investor confidence, could paralyse the progress of the country’s agriculture sect

The Urban Development Authority (UDA) has called request for proposals (RFPs) for a high-rise mixed-development project on the 1.47-hectare Dematagoda junction land (537 Watta), with an expected investment of Rs.15 billion.

Sri Lanka’s unemployment rate declined after reaching a multi-year high in the third quarter of last year, as companies started re-hiring people who were furloughed or had lost their jobs due to the pandemic as the economy gathers steam with virus

State-owned power utility Ceylon Electricity Board (CEB), which is the country’s monopoly electricity transmitter and distributor, is gearing to raise up to Rs.20 billion through a listed debenture issue on the Colombo Stock Exchange (CSE).

State-owned banking giant Bank of Ceylon (BOC) has crossed the Rs.3 trillion milestone in total assets, becoming the first Sri Lankan bank to achieve such a feat and cementing its undisputed leadership position in Sri Lanka’s financial sector.

PGP Glass Private Limited, previously known as Pristine Glass, and a part of US-based private equity giant Blackstone Group, yesterday bought the controlling stake of Sri Lanka-based Piramal Glass Ceylon PLC in a Rs.6.2 billion deal.

With the establishment of the Special Economic Zone in Colombo Port City (CPC), the government has granted sweeping powers to the proposed Economic Commission, for the promotion and regulation of CPC as a leading international business hub in the reg

Private sector credit growth, which reflects the speed of economic recovery, accelerated in February from a month with private individuals and businesses borrowing for consumption and investment.

Sri Lanka’s vehicle registrations saw a marginal recovery in February, compared to the previous month, mainly driven by the high volumes of hand tractors in the commercial segment and an uptick in locally assembled vehicles.

Sri Lanka’s Ministry of Technology is gearing to launch two techno parks in Kandy and Galle equipped with world-class facilities before end of this year.

Sri Lanka’s Tile and Sanitaryware Importers Association (TSIA) yesterday claimed that the current suspension on tile imports is indirectly paving the way for the creation of a duopoly in the country’s tile market, at the expense of the consumer,

Sri Lanka’s merchandise export earnings reached a five-year high barely missing the US$ 1 billion mark in February as exports recovered from the second COVID-19 wave that emerged in the final quarter of 2020.

As the economy is expected to recover from a contraction in last year to a positive growth of 3.3 percent this year, the Central Bank yesterday stressed that the country does not need an episode of high growth but rather stable and shared growth to b

Deposit rates, which declined sharply throughout last year, appear to have ended their run, according to the latest available data for January 2021.

The interest rate caps hinder the formal banking sector’s penetration into the microfinance sector, as the default risks in the sector have increased substantially, while the banking sector braces for a rise in general market interest rates, on the

The Central Bank rebuffed the recent uptick seen in Treasury yields, calling the development “unwarranted”, although the investors were beginning to wonder whether the current cycle of low interest rates is over, as inflation to raise its ugly he

The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) plans to award the initial 5G spectrum band slots to the country’s mobile operators towards the end of this year, under a new spectrum management framework that is currently being de

Sri Lanka’s Gross Domestic Product (GDP) contracted 3.6 percent in 2020 compared to 2.3 percent expansion in 2019, displaying the severity of the disruptions caused by the COVID-19 pandemic on the island nation’s economy, despite the last two qua

Adani Ports and Special Economic Zones (APSEZ) Ltd., India’s largest private ports & logistics company and a key subsidiary of the diversified Adani Group yesterday said it has received a Letter of Intent (LOI) from the Ministry of Ports and Shippi

The prime lending rate, which indicates where the broader market lending rates are heading, touched a fresh low last week, a week after the Monetary Board doubled down their commitment for lower rates.