National consumer prices accelerated to 45.3 percent in the twelve months to May 2022, reaching a fresh high from the 33.8 percent in April as the impact of the botched rupee float in March was still reverberating through the economy, sending the pri

The government expects moderation in the looming rice shortage with paddy farmers returning to their cultivation amid early warnings on a food crisis in the country.

John Keells Holdings PLC (JKH) yesterday announced plans to raise the equivalent of US$ 75 million worth foreign direct investment by way of a private placement unlisted convertible debentures denominated in rupees to certain controlled affiliates of

More than 30 institutional holders of the 11 outstanding series of international bonds issued by Sri Lanka have organised a bondholder group to represent the interests of international investors in the expected restructuring of Sri Lanka’s debt.

The government is considering more incentives including issuing bearer bonds, special loan schemes and direct fuel purchasing mechanisms to attract more foreign exchange inflows from migrant workers via formal channels.

Cabinet nod has been granted to award the Securities and Exchange Commission’s (SEC) surveillance system modernisation contract to Millennium IT Software (Pvt) Ltd as a direct procurement.

The Cabinet nod has been granted to roll out a multi-phased ‘National Single Window’ (NSW) project with US$ 15 million funding from the World Bank (WB) and other stakeholders.

The Cabinet has greenlighted a proposal to lease 14,000 acres of reserved lands belonging to the Sri Lanka Railway Department (SLRD) to farmers and other priority groups for the cultivation of short-term crops.

Sri Lankans are entrapped in a massive-scale livability crisis, as their incomes do not keep pace with the prices, after the authorities plunged the country into an unprecedented economic crisis characterised by hyperinflation.

Sri Lanka’s foreign employment industry calls for immediate state intervention to put an end to the continuous exploitation of the country’s foreign employment seekers by the so-called ‘GAMCA-accredited medical mafia’, backed by influential p

An International Monetary Fund (IMF) team began bailout talks in Sri Lanka yesterday, with police called to escort a top government official to the negotiations after protesters angry about the economic crisis blockaded the Finance Ministry.

Making an about turn from the two years of the pandemic, which drew investors into the short-term debt capital instruments, hunting for higher rates, markets are now witnessing the opposite with government Treasuries offering safe haven with record-h

As the government is in dire need to increase its revenue to GDP by 3-4 percent in the next two years, an effort that is mandatory to improve debt sustainability dynamics, the Sri Lanka Economic Policy Group by Verite Research pointed out that the ob

SLT-Mobitel has signed a landmark agreement with the National Water Supply & Drainage Board (NWSDB), the statutory body responsible for the provision of safe drinking water and facilitating sanitation services, to provide a Call Centre solution for t

Hambantota International Port (HIP) recently handled the largest RORO shipment of 2022 to-date.

South Asia Gateway Terminals (Pvt) Ltd (SAGT), Sri Lanka’s first Private Public Partnership (PPP) container terminal, launched the first self-service online e-DA facility in the Port of Colombo on June 1st.

Ajith De Silva, Cluster Chief Operating Officer, Automotive and Hardware Cluster of Browns Group was appointed as a Director to the Associated Battery Manufacturers (ABM) Ceylon Limited with effect from 1st of June 2022.

International flights at Jaffna International Airport are scheduled to resume on July 1, with plans to attract new commercial airlines operating into new destinations beyond India.

The Colombo Lotus Tower, which was funded by China and was declared open in late 2019 by the then President Maithripala Sirisena, remains non-operational to-date in the heart of the Capital of Sri Lanka.

Visiting Sri Lanka has been made even more convenient as the pandemic eases across the world, with health authorities in the country removing the mandatory COVID-19 insurance requirement.

Dipped Product PLC made inroads into making sports gloves recently as the company’s revenues and profits in the hand protection segment came under pressure from the second half of the financial year ended March 31, 2022 as prices moderated while co

Two brand new Chinese manufactured cranes will be fitted at berth number 6 of Hambantota International Port (HIP).

The Colombo Stock Exchange (CSE) has announced changes in the S&P Sri Lanka 20 index constituents made by S&P Dow Jones Indices at the 2022 mid-year rebalance.

Access Engineering PLC has seen the suspension of Rs.40 billion worth projects after the government ran out of money in April forcing the country to declare bankruptcy for the first time in its history, but analysts say that the company could rebound

The foreign exchange revaluation gains bolstered an otherwise challenging quarter for listed entities in Sri Lanka which were hit by foreign exchange and commodities shortages, daily power cuts and inflation, while banks set aside massive provisions

The sharp collapse of the rupee following the botched currency float, which sent shockwaves and pushed the economy towards hyperinflation, continues to manipulate key data relating to important sections of the economy.

An economic policy group that has four leading international expert economists at the helm, has published a paper that urges Sri Lanka to reinstate three key policies to help reverse the ongoing economic crisis.

Hayleys Solar, the renewable energy arm of Hayleys Fentons, recently launched Energynet, an off grid/hybrid solar PV system with battery backup, to effectively combat the prevailing power outages experienced in Sri Lanka.

Korean SPA Packaging (Pvt.) Ltd (KSPA) recently signed an agreement with the Board of Investment (BOI) with respect to the resumption of the operation at the defunct Embilipitiya Paper Mill, which had discontinued its production since 2012.

Ceylon Tea from Kelani Valley Plantations’ (KVPL) Pedro Estate was on display at the occasion of the Queen of England’s platinum jubilee, marking a 68-year legacy and evolution of one of Sri Lanka’s most celebrated and significant global export