The move by Sri Lanka’s electricity regulator to approve another tariff hike sent shockwaves across the island nation yesterday, not sparing even the country’s largest gross export earner, the apparel sector.

Contradicting with the earlier plans to handover the East Container Terminal (ECT) to Japan, Ports, Shipping and Aviation Minister Nimal Siripala de Silva hinted that the government plans to retain the control of the ECT of the Port of Colombo while

The Cabinet greenlight has been granted for the draft Monetary Law Act to be published in the government gazette and thereafter to be tabled it in parliament, which is a key prior action required by the International....

The disposal of the state-owned enterprises (SOEs) presents the best option for Sri Lanka to avert a possible domestic debt restructuring (DDR) scenario, while it could become a catalyst to develop a vibrant capital market to exploit the current mark

Earnings from tourism trade continued its months-long ascent in tandem with the encouraging arrival numbers, which topped over 100,000 in January, a feat which became possible after almost a year.

With the dawn of the new year, Sri Lanka made significant progress in obtaining financing assurances from its creditors to help unlock the International Monetary Fund (IMF) bailout package; however, according to the multilateral funding agency, what

Sri Lanka appears to be still having roughly US$ 3.2 billion worth foreign currency obligations to be settled this year even after announcing a debt standstill on selective debt last year until creditors agree to restructure them.

President Ranil Wickremesinghe made his second throne speech in Parliament yesterday to reinforce his blueprint to put the economic back on track and made clear that his government has no role in private businesses except for creating a conducive env

After India, Paris Club creditors have provided financing assurances, placing Sri Lanka a step closer to secure approval from the Executive....

The nations that are in debt with the People’s Republic of China will have the opportunity to negotiate firsthand the debt restructuring agenda, as the world’s second largest economy has confirmed its attendance at the first-ever creditor-debtor

The Central Bank has kicked off an asset quality review of the country’s banking sector to identify possible stresses in different pockets of banks’ balance sheets as they provided enormously on possible bad loans and other financial asset losses

As Sri Lanka celebrates its 75th year of independence from British rule today, while grappling with the worst economic crisis faced in history, President Ranil Wickremesinghe expresses confidence in the country rising up from the current turmoil and

The Paris Club of creditor nations is ready to provide financing assurances to Sri Lanka, a key step needed to unlock a US$2.9 billion bailout by the International Monetary Fund (IMF), Reuters reported yesterday quoting two unnamed sources.

The tourist arrivals to Sri Lanka crossed the 100,000 mark in January for the first time since March 2022.

Sri Lanka’s trade deficit hit a 12-year low in 2022 as a result of resilient export performance, particularly industrial exports, and the sharp decline....

Central Bank Governor Dr. Nandalal Weerasinghe said regardless of the future elections, he wants to see a continuation of the economic reform path the country has embarked on, as it is the only way to come out of the current crisis.

As Sri Lanka is yet to tackle issues from the domestic and international fronts that are impacting its economy, President Ranil Wickremesinghe....

Sri Lanka’s economy will fare better this year than it did in the previous year, where the economy is estimated to have contracted by about 9 percent but consumption is expected to contract till about the second half of the year, the Ceylon Chamber

Central Bank employees yesterday staged a protest supporting the ‘Black Week’ already announced against the increased income tax rates, which came into effect from this month, calling such steeply high tax rates are unbearable and unjust. Last we

The Central Bank yesterday left its key policy rates at their elevated levels for the fourth consecutive month, as it awaited the recently implemented measures to put further downward pressure on yields and short-term rates, while inflation expectati

As businesses across diverse sectors are still hoping for some relief by way of debt moratoria, the Central Bank yesterday indicated that it does not encourage the continuity of such packages as that could take a heavy toll on the banking sector.

The tourist arrivals to Sri Lanka in the first three weeks of January have topped 70,000, indicating the island nation’s tourism industry is firmly on the recovery path.

Sri Lanka is hopeful of China extending its financing assurances to unlock the bailout package from the International Monetary Fund (IMF), the Ministry of Finance said, as the creditor has taken the first step in affirming its commitment to the islan

Public Utilities Commission of Sri Lanka (PUCSL) Chairman Janaka Ratnayake yesterday alleged that the country’s political authorities have influenced three commission members to revise the earlier unanimous decision to reject the interim and retros

Due to insufficient data and lack of industry engagement, Sri Lanka’s free trade agreement (FTA) negotiators are faced with the daunting task of service sector liberalisation as the country prepares to resume negotiations for proposed comprehensive

The Central Bank Executive Officers’ Union expressed its strong objection against the higher personal income taxes, which came into effect from the beginning of this month and condemned the manner in which they were implemented without a proper ana

For the first time in the country’s history,the government yesterday announced that salaries to public sector employees may get delayed....

As the limits on accessing the Central Bank’s standing facility windows by the licensed commercial banks came into effect from this week,

Sri Lanka’s private credit fell again in November for the sixth consecutive month, reflecting the deepening contraction seen....

With the aim to boost foreign exchange earnings from locally produced alcoholic beverages, the Excise Department has granted approval to produce cider and milk punch, with local ingredients, for export markets.