The growth in exports in March outstripped the increase in the expenditure for merchandise imports for the same month, as the exports of textiles and garments showed strength once again, after losing a bit of steam in the recent months.

Tourism Minister Harin Fernando has pledged to address technical issues of the new visa system by May 7. This comes amid concerns of potential losses of 230,000 tourist arrivals and US$ 425 million in tourism earnings for the year.

The financial knowledge of Sri Lankans is at satisfactory levels when compared with the other countries but the island nation is lagging behind financial behaviour, the financial sector regulator, the Central Bank said.

The Central Bank of Sri Lanka sounded optimistic about Sri Lanka witnessing stability on multiple fronts, provided that the ongoing ambitious reforms and economic adjustments underpinned by the Extended Fund Facility (EFF) programme of the Internatio

The government has been sitting on an expert committee report on how to permit oil palm cultivation in identified Mahaweli areas and other areas, without deciding for nearly five months. According to the Agriculture and Plantation Industries Ministry

As a testament to Sri Lanka’s comeback in tourism and returning investor confidence, India’s luxury hotel giant yesterday launched its first ever international venture, US$ 500 million investment ITC Ratnadipa in the iconic Colombo

Central Bank Governor Dr. P Nandalal Weerasinghe yesterday presented its Annual  Economic Review 2023 and Financial Statements and Operations to President Ranil Wickremesinghe, who’s also the Minister of Finance, Economic Stabilisation and Nation

Sri Lanka’s apparel sector is witnessing a resurgence of interest, as brands reassess their purchasing strategies and are on the lookout for safe and secure homes to place their orders. The Joint Apparel Association Forum (JAAF) shared that the app

A top economist yesterday raised concerns over the “loosening of fiscal squeeze” by authorities to stimulate economic growth. Since doing so could lead to potential risks of jeopardising Sri Lanka’s agreements with the International Monetary Fu

The consumer prices measured by the broader National Consumer Price Index (NCPI) continued to soften in March, as the non-food prices cooled sharply while the food prices remained unchanged from a year ago.

The often watched market lending rate, which guides the rest of the rates on loans to small businesses to mortgages to consumers, touched a two-year low last week continuing its descent.

The International Monetary Fund (IMF) this week commended Sri Lanka for going forward and being successful to a great extent to implement the “ambitious” programme; however, it cautioned that the road ahead is till bumpy. IMF Director Asia and Pa

Possible delays in reaching an agreement (in principle) with private bondholders is unlikely to impact the disbursement of the third tranche under IMF’s US$ 3billion bailout package, given negotiations are moving ahead in good faith, Former Gover

The mounting tensions in the Middle East that are becoming increasingly unpredictable are likely to impact the Ceylon Tea cuppa, the industry stakeholders said, especially since over 50 percent of the island nation’s tea is exported to that region.

Economists yesterday cautioned that Sri Lanka failing to reach an agreement with its bondholders on restructuring terms within the set deadline....

Sri Lanka’s celebrity chocolatier, chef and agriculture enthusiast Gerard Mendis faces an uphill battle in his bid to take single-origin Sri Lankan chocolates global. This is primarily due to the shortage of cocoa beans and absence of active cooper

Extending the growth momentum, the international tourist arrivals to Sri Lanka crossed the 50,000 mark during the first nine days of April.

Sri Lanka’s labour force participation rate hit a new low in 2023, the recently published Labour Force Survey (LFS) annual bulletin highlighted.

The Small Medium Modern Trade (SMMT) outlets are rapidly capturing the attention of Sri Lanka’s middle class, with the traditional retailers swiftly adapting to this shifting retail landscape.

Sri Lanka’s tourism sector is expecting a multiplier effect across all key source markets following United Kingdom’s recent update on the travel advisory for Sri Lanka, which will immediately result in a significant boost in tourist arrivals in t

Sri Lanka climbed two spots in the latest United Nations Conference on Trade and Development’s (UNCATD) Liner Shipping Connectivity Index (LSCI), becoming the 22nd best connected country in the world.

It is essential for the reforms planned for the government owned entities to go ahead without further disruptions, else it is the general public that will continue to take on the burden, State Owned Enterprises Restructuring Unit (SOERU) Head Suresh

The Asian Development Bank (ADB) yesterday pledged its support to help Sri Lanka steer through the ongoing reform process; however, it noted that there needs to be “realistic expectations”. Acknowledging that Sri Lanka is at the initial stages of

As Sri Lanka is looking to leave behind the effects of the crisis and move towards development, sustained reform implementation is essential for Sri Lanka to have a stronger and more resilient economy, the World Bank said yesterday.

Five leading export associations have called on the authorities to tackle the pressing challenges posed by the Sri Lankan rupee’s appreciation against the US dollar.

The deficit in the trade account of the Balance of Payment (BoP) widened in February from a year ago on higher imports as the economy normalises.

Headline Inflation, as measured by the Colombo Consumer Price Index (CCPI), dropped to 0.9 percent in March 2024 from 5.9 percent in February, data from the Department of Census and Statistics (DCS) showed.

The Central Bank has been caught off guard by the break in the months-long expansion seen in the private sector credit in January and considered it to be a one-off development and attributed it to the appreciation of the rupee and after-season settle

The Central Bank yesterday resumed cuts by further reducing key policy rates by 50 basis points as inflation remains anchored.

Sri Lanka, coming out of the economic crisis, has significantly taxed businesses and individuals alike and according to the International Monetary Fund (IMF), this burden is here to stay, at least for now.