Banking on renewed foreign investor sentiment and expected recovery in the economy in the second half of the year, the Colombo Stock Exchange (CSE) is set to introduce a suite of new products to the market this year, while making its platform availab

The Executive Board sign-off for the International Monetary Fund (IMF)-sponsored bailout package for Sri Lanka may not happen until the second quarter of this year, as the country is likely to see delays in obtaining financing assurances from its bil

As State coffers have run dry owing to the steep contraction of the economy last year, President Ranil Wickremesinghe has instructed all ministries to cut five percent of their allocated budgets for 2023 to manage limited funds by prioritising salary

Sri Lanka’s earnings from exports declined for the second consecutive month in November while the trade deficit widened from the previous month, as the global economy slows down amid decades-high inflation and rise in interest rates to tackle the s

As South Asian economies have been focusing on digitalisation efforts to uplift the overall government and financial sector infrastructure, the Central Bank of Sri Lanka asserted that improving focus in this arena....

The Central Bank this week said it would review the single borrower limits in a bid to cut the excessive exposure of some banks,

The Central Bank yesterday laid out its short to medium-term policy path and a slew of other measures that it intends to roll out primarily to restore price stability and to maintain the financial system’s health, as Sr Lanka struggles to emerge fr

The Central Bank this week announced changes to open market operations to start the year by limiting licensed commercial banks’ access to its Standing Deposit and Lending Facility windows, which together determines the overnight liquidity level in

Sri Lanka tourism ended the year 2022 on a positive note, as the arrivals of international visitors to the country for the final month of the year crossed the 90,000 mark, while the total arrivals for the year topped 700,000.

Last year saw foreign investors returning to the rupee denominated bills and bonds, specially towards the end of August amid the optimism....

Colombo inflation, measured on an annual basis, eased for the third consecutive month in December, continuing the disinflation path envisaged by the Central Bank after the consumer prices peaked in September.

Sri Lanka’s banking sector, which is usually resilient and generates consistent profits across economic cycles took a heavy beating this year, causing the sector to fall out of favour with the investor community.

At a time when the entire country is up in arms against the proposed monster power tariff hike in less than five months into the first one in August, Sri Lanka’s national management accounting body,

Sri Lanka’s hotel industry yesterday condemned the proposed move by the government to further hike electricity tariffs, asserting....

Sri Lanka’s nine-month government revenue this year rose compared to last year’s levels, as the economy inflated amid the runaway prices and tax revenue started flowing, as a result of the hike in the indirect taxes such as the Value Added Tax (V

While stressing the tax policies are not written in stone, the government said it is ready to be flexible to amend such policies, given that there are pragmatic alternative proposals to collect tax revenue foregone.

The outlook for Sri Lanka’s export sector in the first quarter of 2023 doesn’t appear encouraging, the Export Development Board (EDB) said, as global economic conditions are expected to be grim in the upcoming year.

As Sri Lanka’s dividend tax policy is inhibiting risk-taking, entrepreneurship and timely restructuring activities in the corporate sector, a top investment professional called upon the government to take corrective actions to rectify the unfair do

The Cabinet of Ministers this week green lighted the draft of the new Monetary Law Act clearing the only remaining prior action required by the International Monetary Fund (IMF) to unlock its US$ 2.9 billion....

Sri Lanka’s tea exporters joined the bandwagon in clarifying its stance on the issue revolving around repatriation and conversion of export proceeds, pointing out they have been abiding by the relevant rules and regulations.

The slump in construction sector activities deepened in the third quarter of 2022, declining for the fifth quarter in a row, according to the Gross....

The Purchasing Managers’ Index (PMI) continued to remain in the contractionary territory in November, albeit some improvement in activity from the previous month, as the subdued demand conditions, both locally and internationally, weighed on the Sr

The Sri Lankan economy further sank into recession after its Gross Domestic Product (GDP) for the third quarter gave up as much as 11.8 percent of its output, bringing the nine-month contraction in the economy to 7.1 percent.

The proposed strengthening of the Fiscal Management Responsibility Act (FMRA), which would require strict compliance with the fiscal targets, will be the next key reform for economic stability, leading to a sustainable economy in the long term, accor

Although the public now appears to have understood the need for tough economic reforms for a certain degree, particularly with regard to State-owned enterprises (SOEs), it was they who opposed...

Driven by the country’s growing appeal as a low-cost tourist destination, following the steep depreciation of the rupee, Sri Lanka’s tourism industry is expected to make a swift and steady recovery in this winter season, with tourist arrivals sur

Worker remittances income continued to gather steam as such inflows in November recorded the highest levels in sixteen months....

Apparel industry points out, given current economic milieu, companies use a considerable portion of export proceeds to purchase raw materials, fuel and other items essential

The project company of the Colombo Port City (CPC) project stressed that the multi-billion-dollar project cannot be marketed to foreign investors in the present context sans tax incentives.

The government plans to resume free trade agreement (FTA) negotiations with India, China and Thailand and expedite the completion process, a senior official said.