The Port of Colombo has been ranked as the most efficient port in South Asia and the Indian Sub-Continent, 3rd in the Indian Ocean rim and 22nd among 370 ports globally, in the second edition of the Global Container Port Performance Index (CPPI) 2021

Sri Lanka is in talks with the International Monetary Fund (IMF) to borrow at least US$ 3 billion via the lender’s extended fund facility (EFF), sources familiar with the matter told Reuters.

Sri Lanka’s shipping agents have warned that shipping lines could withdraw from accepting import and export cargo in and out of Sri Lanka, as local agents have failed to remit US $ 70 million in freight charges owed to shipping lines over the past

Sri Lanka’s palm oil industry yesterday requested the government to repeal the bans and other negative policies in place against the industry and liberalise it, so the industry could play its part to support the country’s dollar-starved economy.

The proposal to get big-time electricity consumers to pay more was not well-received by the Board of Investment (BOI) companies, which cautioned that any such move would only further exacerbate the crisis situation for businesses.

Fulfilling its ambition of becoming a multinational, LOLC Group recorded an upsurge in profits by as much as 46 percent over the previous year to deliver a profit before tax of Rs.83.8 billion and profit after tax (PAT) of Rs.77.8 billion for the fin

Treasury bill yields eased for the second week in a row yesterday after the Central Bank sent a strong signal a fortnight ago that the yields have overshot and hence, it would not hesitate to intervene to stabilise and reverse the trajectory by injec

Sri Lanka’s economy grew at a slower pace of 3.3 percent in 2021, under the rebased gross domestic product (GDP) estimates, compared to 3.7 percent reported already under the previous base year of 2010.

Dialog Axiata PLC has had the distinction of being accorded the title, ‘Sri Lanka’s Most Valuable Brand’ for the fourth consecutive year by Brand Finance, the world’s leading independent brand valuation consultancy, at the 19th edition of its

Fueled by strong growth in all business sectors, diversified Sri Lankan conglomerate Sunshine Holdings PLC reported impressive growth in top and bottom line performances for the year ended March 31, 2022 (FY21/22).

The Ministry of Tourism yesterday appointed three heads to steer the institutions of Sri Lanka Tourism after its Chairperson Kimarli Fernando resigned last week.

The Department of Census and Statistics (DCS) yesterday said they have changed the base year of measuring the Gross Domestic Product (GDP) to 2015 from the hitherto used base year of 2010.

The Cabinet approval has been granted to table a Rs.695 billion supplementary budget in parliament in order to maintain essential public services without disruptions.

Preparing for the looming food crisis, Sri Lanka is aiming to become self-sufficient in rice production next year by assuring farmers with guaranteed prices, compensation for crop losses and timely supply of required fertilisers.

As a part of a slew of measures introduced by the Central Bank to provide reprieve to banks of their capital and liquidity requirements, they have been given the option to maintain slightly less high quality liquid assets from the current minimum.

Colombo’s inflation was recorded at an eye-popping 39.1 percent in the twelve months to May, accelerating from 29.8 percent in April, setting another fresh high after the botched rupee float in early March.

Sri Lanka’s stockbroker industry collected record profits in 2021, with equities becoming the preferred choice for a large number of investors due to the low interest rate regime prevailed during the year.

hSenid Business Solutions (hBS) reported its first full-year result since the initial public offering in December 2021.

WindForce PLC is recognised as the largest Independent Power Producer (IPP) of renewable energy in Sri Lanka. Pioneering wind power generation locally, WindForce will hold over 245MW in its portfolio at the end of the current financial year and was t

Sri Lankans are getting older before they attain any economic well-being, as people are forced to contend with difficult economic conditions during their lifetime brought about by decades-long economic mismanagement by successive governments.

The World Bank reiterated yesterday that it does not plan to offer new financing to Sri Lanka until an adequate macroeconomic policy framework is in place.

While keeping a closer eye on the developments in Sri Lanka’s economic front, Fitch Ratings said it would keenly observe the developments in the country’s political landscape, where further instabilities could trigger further negative rating acti

Responding to the recent media reports of its non-performing assets (NPA) portfolio, state-owned People’s Bank yesterday said its NPA portfolio “compares well with the industry averages”.

Sri Lanka’s capital market regulator, the Securities and Exchange Commission (SEC), plans to replace the Unit Trust Code of 2011 with an expanded code termed as Collective Investment Schemes Code (CIS), in order to allow the introduction of new sch

India plans to reduce power generation from at least 81 coal-fired utilities over the next four years, the federal power ministry said in a letter, in an effort to replace expensive thermal generation with cheaper green energy sources.

London-based leading tour operator TUI has further extended its pause on all tours to Sri Lanka, as improvements in the political, economic and social landscape are not as expected.

Nestlé was ranked as Sri Lanka’s Most Valuable Food and Beverage Brand by the world’s leading brand valuation consultancy – Brands Finance.

Further expanding its portfolio, Resus Energy PLC, a forerunner in renewable energy, recently connected a 6.0 MW ground-mounted solar PV (photovoltaic) station to the national grid.

Amid the on-going economic crisis, one of fastest growing apparel manufacturers, Hela Apparel Holdings Limited, has decided to defer its key investment plans in Sri Lanka and to settle its short-term debt ahead of maturity in order to contain anticip

People’s Bank has announced the results for the quarter ended March 31, 2022 (1Q22) with consolidated total operating income growing by 51.9 percent to reach Rs.42.6 billion, whilst total operating expenses increased by only 0.3 percent to Rs.13.1