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Sun, 24 Nov 2024 Today's Paper
Sri Lanka’s Solar Industries Association (SIA) yesterday urged the government to immediately grant a substantial hike in feed-in tariffs (FIT) for rooftop solar producers in line with the recent increase in input costs in order to revitalise roofto
Several nations in Asia and the Pacific would struggle more than before to escape poverty, as the outbreak of the COVID-19 pandemic has created a setback of about two years, a report by the Asian Development Bank (ADB) said.
President Ranil Wickremesinghe, in his capacity as the Finance, Economic Stabilisation and National Policies Minister, yesterday issued.....
The Sri Lanka tourism authorities, led by Tourism Minister Harin Fernando, are actively contemplating on setting up what is called a ‘bad bank’ to restructure the debt of the crisis-hit tourism sector, Mirror Business learns.
The Central Bank (CB) this week stressed that lifting of the forced conversion rule on service export receipts is subject to service exporters bringing additional export proceeds to the country.
The Central Bank (CB) is optimistic of wrapping up the much-anticipated staff-level agreement with the International Monetary Fund (IMF) for a bailout package during the upcoming staff team visit scheduled for end of this month.
Reigniting fears over a potential local debt restructuring, President Ranil Wickremesinghe this week warned that Sri Lanka’s International Sovereign Bond (ISB) holders may push the government to restructure the domestic debt,
Sri Lankan exporters falling under select categories will be able to further benefit from trading with the United Kingdom as the independent trading nation yesterday announced its decision to cut import taxes on several products from some of the worl
The cumulative losses of 52 key state-owned enterprises (SOEs) during the first four months of 2022 topped the total annual loss recorded in 2021, with Ceylon Petroleum Corporation (CPC) contributing 73 percent of the total SOE losses, driven by fore
Despite various incentive schemes introduced by the authorities to attract more worker remittances to the country via formal channels, such incomes continue to fall,
Tourist arrivals for the first 11 days of August crossed the 16,000 mark, showing signs of a slight improvement in terms of the rate of arrivals....
The free trade zone manufacturers yesterday called out the Public Utilities Commission of Sri Lanka (PUCSL) for being unjust towards industries by imposing a massive electricity tariff hike this week, a move that worsens the financial stress of the b
Transshipment container volumes at the Port of Colombo in June took a blow from the political crisis and social unrest that prevailed in the country, which raised law and order concerns among main shipping lines.
Sri Lanka’s hospitality sector yesterday said the electricity tariff hike announced this week would further hurt the tourism industry, as it is not in a position to bear any further pain with the current meagre revenue.
Following the suspension of financing of road development projects by foreign development agencies and current fiscal constraints, the government is struggling to settle the arrears of about Rs.100 billion owed to contractors and their sub-contractor
The Cabinet nod has been granted to amend Shop and Office Employees (Regulation of Employment and Remuneration) Act No.19 of 1954, to remove the archaic restrictive legal provisions on night work for women.
The Public Utilities Commission of Sri Lanka yesterday announced its decision to allow the Ceylon Electricity Board (CEB) to revise upwards....
As the three-wheeler passengers face unfair and exorbitant fares, the government is looking to expedite plans to regulate the three-wheeler....
Targeting employment opportunities in Japan, Sri Lanka will begin to teach Japanese and English languages at the school level, under the technical subject stream.
The Cabinet of Ministers has approved a proposal to revise the water and sewage charges to reflect the operational costs of the National....
Dialog Axiata PLC, Sri Lanka’s market leader in mobile telephony services, saw its June quarter (2Q22) and first half (1H22) profitability....
The Public Utilities Commission of Sri Lanka yesterday announced its decision to allow the Ceylon Electricity Board (CEB) to revise upwards the overall electricity tariff by an average 75 percent, which would come to effect from today.
Sri Lanka could stoke another crisis if the authorities chose to restructure the rupee-denominated domestic debt, as it could have severe implications on the country’s banking sector, thereby endangering the entire financial system, a top asset man
Despite possible widespread economic consequences including threats to the stability of the financial sector,
Strengthening trade relations with the world is essential for countries to fulfil their economic aspirations, however, efforts will have to be made by individual countries to strengthen ties as within the South Asian region and trade integration will
The Finance Ministry has lifted the import ban on the popular weedicide glyphosate with effect from August 5 while allowing glyphosate imports into the country subject to import control license....
Despite possible widespread economic consequences including threats to the stability of the financial sector, President Ranil Wickremesinghe fears that the government may have to consider potential....
Sri Lanka’s self-developed poultry and dairy industries are on the verge of collapse amid rising input costs and shortages of animal and veterinary medicines along with the fuel shortage....
The Tourism Ministry announced the appointment of a 22-member committee to provide expert advice in helping the crisis-struck industry to move towards a path of revival. The newly.....
Diversified conglomerate Sunshine Holdings PLC continued to demonstrate resilience amidst prevailing macro-economic conditions, reporting an impressive topline and bottom line growth for the quarter....
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