Sri Lanka’s most comprehensive development regulations - the Development Control Regulations (DCR) - introduced by Port City Colombo, was gazetted recently and is now being enforced.

The Chinese government has expressed its willingness to cooperate with Sri Lanka’s bilateral creditors including India and international financial institutions in the country’s debt restructuring process in order to reach a feasible solution expe

The local transport and logistics sector has conceptualised a 20-point plan entailing tough measures to help trim the country’s fuel import bill, which if implemented is expected to save about US$ 0.5 to 1 billion per annum.

Sri Lanka’s tile manufacturers, who continue to gain from the import ban imposed on tiles by the government, are worried whether the momentum can be maintained going forward as challenges mount in sourcing raw material from foreign suppliers.

The Road Development Authority (RDA) was called out recently by parliament as a leading State owned Enterprises with massive scale financial mismanagement as it has failed horribly in managing its finances according to protocols.

Ultra Aluminum Private Limited recently unveiled its latest Board of Investment (BOI)-approved factory in Arayampathy, Batticaloa, which manufactures an import substitute known as aluminum extrusion profiles and thereby saving a significant dollar fl

Interchemie werken ‘De Adelaar’ B.V, one of the largest manufacturers of veterinary products in the world, has appointed Dymec (Pvt.) Ltd, which is a leading edge and fast growing company in the veterinary pharmaceutical industry in Sri Lanka, as

Premier Ranil Wickremesinghe this week disclosed how the former officials at the front seats of driving the economy into the current abyss continuously held back the truth about the Chinese swap and took the press and entire public for a ride for nea

As the government has already announced plans for debt forgiveness to small-scale and household farmers with less than two hectares of farmlands, the Central Bank could also announce another cycle of payment holidays for the affected parties from the

The local export sector reiterated the need for Sri Lanka to have “robust” policies to continue its operations in the local market and sustain in the global markets.

Sri Lanka’s official reserve assets edged up in May but not even close to bring any kind of stability to the domestic foreign exchange markets or to restore the normal outflows in respect of fuel, gas and other essential imports, as US $ 1.5 billio

The Treasury bill yields continued their descent for the third consecutive week yesterday, as all three tenures shed yields once again amid realisation that the bills had reached their peak levels a month ago after going through a sharp correction in

While urging the local investors to come forward, the government plans to complete the restructuring process of loss-making SriLankan Airlines in a transparent manner within this year.

The World Bank on Tuesday slashed its global growth forecast by nearly a third to 2.9 percent for 2022, warning that Russia’s invasion of Ukraine has compounded the damage from the COVID-19 pandemic and many countries now faced recession.

The trendsetter in the modern trade industry GLOMARK from Softlogic Supermarkets (Pvt) Ltd., recently opened its newest outlet in Negombo Road, Rilaulla, Kandana.

The Colombo Stock Exchange (CSE), was recently certified by Great Place to Work. This certification was obtained on CSE’s very first attempt and is a true testament to the foundation on which the organization has been built on over the years.

A Memorandum of Understanding was signed between Eksath Wijeratne, Group General Manager, Browns Hotels & Resorts and Tharanga Gamlath, Chairman, National Apprenticeship and Industrial Training Authority (NAITA), forming a partnership to upskill and

The 12th AGM of the Peterite Batch Group of 83-86 will be held on Friday, June 10, 2022, at the OBUH Secretariat, commencing 6:30 p.m. All are invited to participate in numbers to make this a success.

The Maldives witnessed record tourist arrivals in the month of May, with a total of 125,522 international visitors visiting the nation of islands.

Sri Lanka saw tourist arrivals take a steep plunge in the month of May, with little over 30,000 visitors entering the country.

Although the weaker rupee has turned the lives of Sri Lankans upside down since its free fall begun on March 7, sending the prices of everything through the roof, the same could woo foreigners to select Sri Lanka as their top travel destination, as t

Singer (Sri Lanka) PLC has joined the bandwagon of consumer durable retailers in the country to deepen its reliance on domestic manufacturing capacity to navigate the current headwinds brought about by the toughened import conditions, due to the pers

Former Central Bank Governor Ajith Nivard Cabraal was released on bail yesterday by the Colombo Fort Magistrate’s Court over a private plaint filed for alleged financial irregularities that took place while he was serving as Central Bank Governor i

With the aim of restoring monthly workers’ remittance inflows to US$ 500 million, the government is working on introducing a special incentive package to encourage migrant workers to remit their hard-earned foreign currency earnings through officia

The government is planning to issue new regulations to encourage public sector workers to take up employment overseas in an attempt to increase foreign exchange inflows to the country and also to reduce the burden on State coffers.

As Treasury bill yields went through a sharp correction since policy rates were hiked by 700 basis points on April 8, the Central Bank has revised its direction forthwith to determine as to how the finance companies must be pricing their deposit rate

The Cabinet nod has been granted to extend the moratorium given to the crisis-hit tourism industry until December 31 of this year after evaluating industry pleas.

The Cabinet of Ministers on Monday decided to grant tax holidays up to 40 years for investments in China-backed multibillion dollar Colombo Port City project as the foreign investor interest appear to be waning amid the on-going economic crisis.

The Ceylon Electricity Board Engineers Union (CEBEU) has decided to go for an island wide strike over the government’s move to amend the Electricity Act, which would clear the path for Adani’s Group’s proposal for the 500MW Wind Power Project

Sri Lanka needs to fully commit to transparency and equal treatment of its creditors, in order to avert an unnecessarily prolonged debt restructuring process with its external creditors, experts advised.