Sri Lanka’s automobile industry is requesting the government to consider a quota system for vehicle imports for its survival and the livelihoods of over 100,000 people, who are directly or indirectly employed by it.

Stakeholders of the construction sector presented to the Central Bank this week a 30-point action plan that will help improve its contribution to the economy—to levels before the economic crisis severely....

Sri Lanka is likely to go for another International Monetary Fund (IMF) programme after the end of the current four-year programme, to continue with the structural and institutional reforms.

Sri Lanka’s export sector saw the earnings cross the US $ 1 billion mark for the year 2023, with the month of February fetching a revenue of US $ 1.0052 billion for merchandise exports.

State-owned Enterprises Restructuring Unit (SRU) to soon select transaction advisors to assist with sale process

President Ranil Wickremesinghe yesterday expressed confidence in creating a new financial culture and environment that had not prevailed in Sri Lanka before, through the Extended Fund Facility (EFF) programme that was approved by the International Mo

Following IMF Board approval of US$ 3bn bailout, SL set to receive first tranche in two days With IMF deal clinched, SL now confronted....

The International Monetary Fund (IMF) yesterday said its Executive Board approved a US $ 3 billion financing for Sri Lanka under the Extended Fund Facility (EFF), which will be disbursed within a period of four years.

The once brisk construction sector fell to new lows in the final three months of last year, extending the contraction in the sector to its sixth straight quarter reflecting the extent of its struggle. According....

Sri Lanka is in dire need to correct its image in the eyes of the international community, given the negative sentiments that are still largely prevalent, as stepping up efforts in this regard is the marketing fraternity of the country.

The new Monetary Law Act, which aims to grant independence to the Central Bank with enhanced accountability, will empower the monetary authority to make unpopular but essential decisions in prioritising price stability in the country under a flexible

Sri Lanka’s tea exports declined for the second consecutive month in February.

In an open letter to Sri Lanka’s official bilateral creditors, President Ranil Wickremesinghe yesterday assured that safeguards will be put in place to ensure equitable burden sharing and comparability of treatment.

While seeking presidential intervention, the Sri Lanka Shippers’ Council (SLSC) warned that the recent decision by Ports, Shipping and Aviation Minister Nimal Siripala De Silva to remove the regulations on freight charges is likely to hurt the comp

The Colombo Tea Auction yesterday saw a mini storm brewing as substantial quantities went unsold amid the sharp appreciation of the rupee against the US dollar.

The government will bring in an anti-corruption bill to Parliament shortly, as agreed with the International Monetary Fund (IMF) when entering a staff-level agreement last September, Cabinet Spokesperson Minister Bandula Gunawardana said.

President Ranil Wickremesinghe yesterday said Sri Lanka signed a Letter of Intent (LoI) on Monday night to be presented to the Executive Board.....

The Central Bank last Friday projected a faster decline in the rate of inflation in the coming months, as businesses and households will benefit from the relative strength in the rupee in recent times, which gets translated into lower imported goods

Taking everyone by surprise, the Monetary Board of the Central Bank yesterday raised the policy interest rates by 100 basis points, though many predicted the monetary authority to either maintain the status quo or signal a dovish tilt by cutting rate

The analysts at First Capital Research (FCR) assigned equal weightage between a rate cut and an unchanged policy stance at the upcoming monetary policy announcement tomorrow afternoon but they doubled down on their bets on a dovish tilt by the member

Sri Lankan rupee appreciated yesterday on improved sentiments over the current and future foreign exchange conditions in the domestic market after the announcement that International Finance Corporation (IFC) is willing to provide US$ 400 million wor

To support Sri Lanka amid an ongoing economic crisis, the International Finance Corporation (IFC), the investment arm of the World Bank, is providing a cross-currency swap facility to three of Sri Lanka’s leading national banks that deal with over

The International Monetary Fund (IMF) has stressed the need for a more predictable, timely, and orderly process for both countries....

The government has settled the majority of the arrears to the tune of Rs.191 billion to contractors and suppliers, after assuming power on August 31, last year, despite an 8 percent contraction in the economy during the year, Finance State Minister R

President Ranil Wickremesinghe yesterday told parliament that his top priority is building a strong economy and not politics, though the Opposition political parties directly accused him of trying to postpone an election that has already been announc

As Sri Lanka is looking to bring about a renewed brand identity that will help it capture a bigger share of the global tourism market, plans are afoot to do away with the ‘So Sri Lanka’ tagline.

After months of struggle and challenges, Sri Lanka has been successful in fulfilling the 15 tasks set by the International Monetary Fund....

The tea sector yesterday joined the chorus in warning about the potential consequences of failing to control the situation after a 66 percent increase in electricity prices that went into effect last week.

After over two years of product development, Dipped Product PLC plans to launch its dedicated LEED certified manufacturing facility for sports gloves in Biyagama Export Processing Zone this April....

President Ranil Wickremesinghe yesterday gave fresh hopes to the nation, as he shared that the answers to the woes faced by the people would be unlocked before the end of the first quarter of the year.