Sri Lanka’s overall inflation rate, as measured by the National Consumer Price Index (NCPI), experienced a significant decline in July, dropping to 4.6 percent on a year-on-year (YoY) basis, against 10.8 percent in June.

Transshipment container volumes at the Port of Colombo rebounded in the first half of the year, ending the nearly one-year declining trend, as main shipping lines restoring services back from alternative routes on renewed confidence on the stability

As Sri Lanka strives to improve its revenue collection, especially in terms of tax, the required efforts have been rolled out to amend the Inland Revenue Ordinance, the Sectoral Oversight Committee on National Economic and Physical Planning said.

Skytanking Holding GmbH Managing Director Amir Ibrahim and the team met with the Chairman and officials of the BOI, Airport and Aviation to discuss potential opportunities for investment in Sri Lanka. Skytanking provides aviation fuelling services i

Despite the recent improvements observed in the macroeconomy, Sri Lanka’s manufacturing activity has not yet shown signs of recovery, whereas the services sector continues to exhibit growth.

As Sri Lanka embarks on an ambitious journey towards de-carbonising the economy, and adopting electric vehicles (EVs) is a crucial....

In a surprise move, the Australian government has reviewed its travel advisory on Sri Lanka, where it urges its citizens to exercise a high degree of caution when visiting the island nation.

Earnings from the tourism industry have crossed the US$ 1 billion mark with international visitors to Sri Lanka having spent US$ 219 million in July.

Amid the current human capital shortage, in particular the science, technology, engineering and mathematics (STEM) graduates increasingly looking to migrate, the government said it has plans to establish a number of new universities and vocational tr

Sri Lanka’s hotel sector will no longer be able to slash prices as they see fit to lure foreign tourists because the hotly contested Minimum Room Rate (MRR) will come into effect from October 1, 2023.

Improved prospects for the tea industry in the second half of 2023 (2H23) largely depend on how soon the Sri Lankan rupee would stabilise, Forbes & Walker Tea Brokers said. It noted that unless the remunerative rupee tea prices are achieved, farmer p

The government is planning to establish a Revenue Authority to plug tax loopholes and to strengthen the entire tax collection process to meet the envisaged fiscal targets.

The Cabinet nod has been granted to implement the Anti-Money Laundering and Countering the Financing of Terrorism (AML-CFT) National Policy ahead of the third mutual evaluation conducted by Asia Pacific....

Blue-chip conglomerate Aitken Spence has entered into an agreement with the Board of Investment (BOI) to kick off operations of two garment factories that halted operations recently, due to reduced orders. The BOI announced in a statement to the medi

Breaking one of the most severe and prolonged credit contractions in the Sri Lankan economy, banks witnessed an expansion in credit extended...

The Asian Palm Oil Association (APOA) renewed its call to the Sri Lankan government, urging it to reconsider the temporary ban on oil palm cultivation.

The Colombo Stock Exchange maintained its upward momentum for the fifth consecutive session yesterday as foreign investors made significant contributions, resulting in the highest net foreign inflow to the market in recent times.

Pursuant to the demise of MJF Holdings Founder and Chairman Merrill J. Fernando, his two sons, Malik J. Fernando and Dilhan C. Fernando, wish to express their deep appreciation to the overwhelming number of people who joined them in their grief and i

In line with the government’s policy to focus on private sector-driven growth towards a strong export-oriented economy, a high-powered five-member committee comprising of well-known corporate leaders have been appointed to draft a new investment po

Inflation in the Colombo district retreated to what once appeared to be an elusive mid-single digit level in July, as food prices declined from a year ago, while the non-food prices eased to just above 10 percent, ending nearly two-year long price sp

Sri Lanka is eyeing to ink free trade agreements (FTA) with two more ASEAN members, Malaysia and Vietnam, in line with the country’s plans...

Sri Lanka’s largest private lender in terms of assets, Commercial Bank of Ceylon PLC, yesterday revealed plans to raise up to Rs.12 billion through a listed debenture issue

Sri Lanka will be seeking a minimum six-fold increase in duty free access for its ready-made apparel products from India with no fabric sourcing conditions under the proposed Economic and Technology Co-operation Agreement (ETCA)

The negotiations for the proposed China-Sri Lanka Free Trade Agreement (FTA) are expected to resume within the next one to two months after a six-year hiatus. “We are waiting for official communication from China on dates for the next round of FTA

The government on Monday announced easing of certain restrictions hitherto slapped on outward remittances since April 2020, amid improvements seen in the country’s domestic foreign exchange market.

Premier blue-chip company John Keells Holdings PLC reported modest top and bottom-line performance for the Krishan Balendra three months to June....

The Export Development Board (EDB) yesterday said Sri Lanka’s gem and jewellery sector is under serious threat, due to a surge in foreign traders’ involvement in key gem markets without the required licences, threatening the sector’s integrity

The Central Bank last week issued an ultimatum to banks to reduce lending rates, which have only fallen disproportionately, compared to the plunge in deposit rates in response to the easing in the monetary....

It is essential for Sri Lanka to ensure it goes ahead with the current reform efforts, else it runs the risk of having to face another Domestic Debt Optimisation (DDO) exercise, the Central Bank cautioned yesterday

The next two years would be critical for Sri Lanka’s recovery, the World Bank (WB) Country Director for Sri Lanka said, while cautioning that there are further significant headwinds that need to be closely monitored. WB Country Director for the Mal